The size of the global Polyurethane Dispersion market is estimated to reach USD 9.4 billion by 2029 from USD 6.08 billion in 2024, growing at a CAGR of 9.2% from 2024 to 2029.
The Polyurethane Dispersion Market is developing worldwide with the augmenting need from the furniture and automotive sector and rising demand for leather products among consumers. The increasing use of leather in fashion & footwear along with the use of luggage bags is likely to propel this business. Increasing purchasing power along with currently popular fashion has led to rising demand for leather products. The interesting features of polyurethane dispersion like high tensile strength, durability to temperature, elasticity, and abrasion resistance are making them an ideal choice for coating in wood and leather finishes, concrete floor tops, PVC, and textile coatings.
The growing demand in paints & coatings applications mainly by demand for non-conductive ink is driving the global polymer dispersion market growth. The rising applications in paints & coatings are due to its excellent mechanical & physical characteristics and low VOC content, which are supposed to accelerate this business demand over the outlook period. These factors are expected during the forecast period to drive the demand for polyurethane in paints & coatings applications, and increasing investments in the automotive and chemical manufacturing industries will also drive the market in this region in the estimated period. Increasing disposable income along with currently popular fashion trends has resulted in an increased demand for leather products, which in turn is estimated during the forecast period to fuel the growth of the market.
For the Polyurethane Dispersion Market, the fluctuating prices of raw materials are a major restraint of this market. Also, making sustainable products with Low VOCs is considered as a threat to this business growth. Nonetheless, the rising call from end-user applications such as paints & coating and adhesives & sealants is touted to create new growth opportunities in the foreseen years.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
9.2% |
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Segments Covered |
By Application, Type, End-user, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Market Leaders Profiled |
Covestro AG, DowDuPont, Inc, BASF SE, 3M Company, Lubrizol Corporation, Michelman, Inc, Mitsui Chemicals Inc, Perstorp Holding AB, Lamberti S.p.A, LANXESS AG, Alberdingk Boley GmbH, Hauthaway Corporation, Chase Corporation, VCM Polyurethanes PVT. Ltd, Allnex |
The solvent-free segment accounted for the largest share of the market in 2019. The growth in this segment is contributing to its increasing being used in various applications like paints & coatings due to its extremely good mechanical & physical properties and low VOC (volatile organic compounds) content.
By application, paints & coatings is the rising demand for PUD-based coating systems in the automotive and construction sectors due to its extremely good abrasion resistance and low VOC features.
By end-use, automotive and furniture are considered prominent with the increasing applications of leather in those sectors.
Globally, the PUD market is divided into 5 regions, Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa. Among all the regions, Asia Pacific has been registered as a major PUD market in 2023, driven by the developing rapid growth of industries like automotive, construction, and leather finishing. The demand for polyurethane dispersion is estimated or assuming to surge in numerous economies like China, Japan, and India on account of the increasing construction and automotive sector. China accounts for a major share in the Asia Pacific market and will develop at a notable CAGR in the future.
The European region accounted for around 26% of the overall market share in terms of value in 2023 and is estimated during the calculated period to grow at a significant growth rate over the period. France, Italy, the U.K, and Germany are the main contributors to the regional market growth and are estimated to retain their dominance over the assessment period due to the presence of a robust manufacturing base for the automobile sector. Germany carries the largest regional share and accounts for USD 76.1 million which is a long way followed by the United Kingdom. Strong growth in the automotive sector is driving regional market growth.
Developed regions like North America and Latin America are estimated during the outlook period to witness above-average growth owing to the rise in the volume of passenger car production and sales in these areas. The high adoption rate in coatings applications combined with the continuous growth of the aerospace and defense sector is estimated to propel the regional market growth. The Middle East & African countries are predicted to record healthy growth on account of rising construction activities in emerging countries such as UAE, Turkey, and Saudi Arabia.
Covestro AG, DowDuPont, Inc, BASF SE, 3M Company, Lubrizol Corporation, Michelman, Inc, Mitsui Chemicals Inc, Perstorp Holding AB, Lamberti S.p.A, LANXESS AG, Alberdingk Boley GmbH, Hauthaway Corporation, Chase Corporation, VCM Polyurethanes PVT. Ltd, Allnex are some of the notable companies in the global Polyurethane Dispersion market.
By Type
By Application
By End-user
By Region
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