The Polyurethane Dispersions Market is being driven by Increased regulations on VOC emissions
The Polyurethane Dispersions Market is expected to grow at a CAGR of 6.71% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 941.88 million. Vendors in the global polyurethane dispersions market are expanding their production capacity to cater to the growing demand from various industries, including paints and coatings and others. Notably, Covestro, a key player, recently completed the construction of a new production facility for waterborne polyurethane dispersions in Shanghai, China. This expansion aims to meet the increasing demand for eco-friendly coatings and adhesives in the Asia Pacific region. The new facility will serve a diverse range of end-users, from automotive, construction, and furniture to footwear and packaging industries. Covestro's investment in this new production line underscores the company's commitment to providing high-performance, waterborne polyurethane dispersions that match the properties of solvent-based alternatives.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Solvent-free, Low-solvent) Application (Paints and coatings, Adhesives and sealants, Leather finishing, Textile finishing) Geography (APAC, Europe, North America, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Polyurethane Dispersions Market Research Report
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The Polyurethane Dispersions Market encompasses a range of applications, including leather product development and design, solvent-free polyurethane coatings for leather industry economics, polyol chemistry, and sustainable leather production. It also caters to leather industry innovation through high-performance textile finishes, vegan leather alternatives, and eco-friendly leather coatings. Additionally, it offers sustainable fashion accessories, non-toxic textile finishes, fire-retardant textile coatings, and antimicrobial textile treatments. The market further provides low-VOC and odorless polyurethane coatings, water-based polyurethane sealants, and recycled leather products. Applications extend to automotive leather care, durable upholstery coatings, green building materials, high-performance polyurethane sealants, and eco-friendly polyurethane coatings. Furthermore, it caters to polyurethane for flooring, adhesives, foams, and PVC floor tops, as well as water-resistant shoe coatings and durable polyurethane finishes.
The Polyurethane Dispersions (PUD) market is a significant segment of the global specialty chemicals industry, encompassing manufacturers supplying high-value-add chemicals for various applications. According to Technavio, the global specialty chemicals market, which includes PUDs, is projected to grow due to increasing demand for specialty adhesives and sealants. This market caters to a wide range of industries, including leather production for floors, footwear, leather applications in handbags, and apparel, as well as paints & coatings for hard-wearing surfaces. PUDs, derived from polyols, play a crucial role in these applications due to their unique properties, such as excellent bonding strength and flexibility. The global specialty chemicals market's expansion is expected to be driven by the rising demand for these advanced materials in diverse industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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