coatings segment is estimated to lead the overall waterborne polyurethanes market to 2025

CITY, Country, 2021-Oct-08 — /EPR Network/ —

The waterborne polyurethanes market size is estimated at USD 1.7 billion in 2020 and is projected to reach USD 2.1 billion by 2025, at a CAGR of 5.2%. The major restraint of the waterborne polyurethanes market is the volatility in its raw material prices and the recyclability of polyurethanes.

Waterborne polyurethanes are a rapidly growing segment of polyurethane coating industry owing to environmental regulations such as the Clean Air Act and technological advances that made them an effective substitute for the solvent-based coatings. Their versatility and wide range of properties such as abrasion resistance, impact strength, and low temperature flexibility are the driving force to their continuously expanding usage in many applications. Covestro (Germany) and DSM (Netherlands) have a strong emphasis on the R&D and have developed various types of waterborne polyurethanes.

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On the basis of application, waterborne polyurethanes have been segmented into coatings, adhesives, sealants, elastomers and others. The growing demand for innovative and environment friendly waterborne polyurethanes id driving the demand for these waterborne polyurethanes.

On the basis of end-use industry, waterborne polyurethanes have been segmented into building & construction, automotive & transportation, bedding & furniture, electronics, and others. The growing construction industry in the emerging countries of APAC and South America region are driving the demand for waterborne polyurethanes in these applications.

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APAC is the largest and projected to be the fastest-growing market for waterborne polyurethane.  The driving factors for growth in the market are population, industrialization, urbanization, improvement in standard of living and modern attitude to home ownership among others in developing economies such as China, India and others. China and India are two of the most populated countries in the world. This encourages increase in industrialization due to the availability of cheap labor and rising living standards. Construction and automotive industry are the biggest industry utilizing waterborne polyurethane in the region. China has the largest market for waterborne polyurethane in the region due to its huge manufacturing base.

The growing demand for this chemical in the automotive manufacturing and building & construction industry is increasing the demand. The growing construction industry in the emerging countries of APAC is driving the demand for waterborne polyurethanes in the APAC market. Various manufacturers are shifting their production base to the region because of advantages such as low cost of production and the ability to serve the local emerging market.

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