Waterborne Polyurethane Dispersions (PUDs) are coatings and adhesives that use water as the primary solvent. With increasing federal regulation on the level of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) that can be emitted into the atmosphere, PUDs are being used in many industrial and commercial applications. PUDs are typically stable, easy-to-use and exhibit properties similar to solvent-based systems. These systems may be formulated as ambient-cured (air dried) or baked coatings for flexible and rigid substrates—such as flooring, fabric, leather, metal, plastics, and paper. Additionally, PUD’s are graphic art inks, adhesives for shoes and textiles and can be the coats on many products.
According to the report, global demand for aqueous polyurethane dispersions was valued at USD 800 million in 2014 and is expected to reach USD 1,350 million in 2020, growing at a CAGR of around 7.5% between 2015 and 2020. In terms of volume, the global aqueous polyurethane dispersions market stood at 295 Kilo tons in 2014. Zion Market Research has published a new report titled “Aqueous Polyurethane Dispersions Market for Coatings & Adhesives, Textiles Finishing, and Natural & Synthetic Leather Finishing Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”
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Polyols (polyether, polyester, polycarbonate, polycaprolactone), isocyanate monomers and a water-dispersing monomer (anionic, nonionic, cationic) are key raw materials used in the manufacturing of waterborne polyurethane dispersions. They are used for resins for industrial coatings (wood, plastic, metal), for architectural coatings, for leather and textile finishes and for shoe adhesives. Polyurethane dispersions are fully reacted polyurethane or polyureas of small and discrete polymer particles ranging in size from 0.01-5.0 microns in a continuous water phase. They are free of isocyanate residues and have a zero or a very low volatile organic content (VOC). They are safe to handle and are a good choice for compliant coatings. PUDs can be made to have 30-65% solid content and a wide range of film hardness.
Global aqueous polyurethane dispersion market is mainly driven by strong demand from coating applications. Textile finishing, synthetic & natural leather finishing and adhesives are other important outlets for the polyurethane dispersion industry. Strong growth in the application markets is in turn expected to trigger consumption of aqueous polyurethane dispersion across the world. Secondly, low VOC emission is another factor driving demand for aqueous polyurethane dispersion in different applications. Due to stringent environmental regulations imposed by regulatory authorities has been resulted into growing demand for low VOC emitting products, especially in Europe and North America.
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Some of the key market players that are actively participating in the global aqueous polyurethane dispersion market include Mitsui Chemicals Inc., Lubrizol, Hauthaway Corporation, Dow Chemical Company, Cytec Industries Inc., Chemtura Corporation, BASF, Bayer MaterialScience, Baxenden Chemicals Ltd., and Alberdingk Boley Inc.
The key application market for aqueous polyurethane dispersion market includes the coating, adhesives, textiles finishing, natural leather finishing and synthetic leather finishing. Coating and adhesives dominated the global aqueous polyurethane dispersion market with over 75% share in total volume consumption in 2014. However, leather finishing application segments are expected to exhibit fastest growth rate during the forecast period.
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Asia Pacific dominated the global aqueous polyurethane dispersion market due to strong demand from China. Asia Pacific was the largest regional market for aqueous polyurethane dispersion with around 35% share in total volume consumption in 2014. Asia Pacific was followed by Europe and North America. Asia Pacific is also expected to be the fastest growing regional market for aqueous polyurethane dispersion. Latin America and Middle East & Africa are also expected to exhibit robust growth rate during the forecast period.