What are the Growth Drivers of Waterborne Polyurethane Market? Bayer AG, ERCA Group, Bond Polymers International, Dow Chemical Company, SNP

Waterborne Polyurethane Market size is projected to grow at a significant CAGR in the forecast timeframe. The increased environmental issues and rise of solvent price are the major factors driving the growth of the product market. The diverse applications in end-use industries will accelerate the product market.

Earlier, different organic solvents were used to synthesize polyurethane. Research has been carried out to seek a cost-effective solvent which has propelled the use of waterborne polyurethane. Restrictions on volatile organic compounds (VOC) has caused a major change in coatings technology. Performance advantages coupled with government regulations are the forces which have boost the product market.

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There are various monomers to prepare the product dispersion. The commonly used petroleum based monomers are di-isocyanates, polyols, neutralizing agents, chain extenders. Recently, plant based monomers have also been used for synthesizing the product. Ethylenediamine is a commonly used chain extender but it is being replaced by natural resources as it is harmful for human health.

The Waterborne Polyurethane Market has been used in various adhesives, fibers, caulking materials, primers for metals, paint additives, emulsion polymerization media, defoamers, thickeners, textile dyes, pigment paste, biomaterials, etc. The product coatings are widely used in leather surfaces, wood floorings & panels, plastics, film coatings, etc. The water-based polyurethane dispersions offer many advantages such as flexibility, flow and viscosity properties independent of weight of molecules, good behavior at low temperatures, environment friendly, better adhesion characteristic, high strength, etc.

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The Waterborne Polyurethane Market can be segmented on the basis of type, application and region. Based on type, the product market can be bifurcated into waterborne one-component polyurethane and waterborne two-component polyurethane. Two-component polyurethane combines the good film properties of low VOC values of waterborne technology and solvent borne two-component polyurethane coatings. It is used where high performance coatings are required. Development of water dispersible polyisocyanates have contributed to the growth of the product.

Based on region, the Waterborne Polyurethane Market can be divided into Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. Europe holds a major share of the product market which is estimated to grow owing to the implementation of stringent regulations. Asia Pacific is the next in queue followed by North America. Rapid growth of various end-use industries such as construction and footwear has led to the growth of the market in Asia Pacific. Countries like Malaysia and Indonesia have inclined towards the product due to the development of infrastructure and expansion.

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Some of the key players in the Waterborne Polyurethane Market are Bayer AG, ERCA Group, Bond Polymers International, Dow Chemical Company, SNP, Inc., Lamberti S.p.A., VCM Polyurethanes Pvt. Ltd., Croda International Plc, BASF SE, DuraSeal, Mitsui Chemicals, Inc., RPM International, Inc., etc.

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