Press release
Waterborne Polyurethane Industry Expected to Reach $7.35 Billion by 2029 at 6.9% CAGR
Waterborne Polyurethane
Waterborne Polyurethane Market Value Projection: How Much Will the Market Size by 2025?
Over the past few years, the waterborne polyurethane market has been experiencing a gradual expansion. The market value is set to increase from $5.37 billion in 2024 to $5.63 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. The market's growth in the historical period can be accounted for by government investment in research and development, environmental rules and regulations, shifts in market demand, breakthroughs in formulation, and wide-scale industry acceptance.
What Will Be the Market Growth Forecat for Waterborne Polyurethane in 2029?
Expectations are high for solid expansion in the waterborne polyurethane market size in the coming years. The market is forecasted to reach $7.35 billion by 2029, expanding at a compound annual growth rate (CAGR) of 6.9%. Factors influencing this growth during the predicted period include a shift in customer preferences towards environmentally friendly products, industry partnerships, customization, effects of the COVID-19 pandemic, constraints in the supply chain, and shortages in workforce and equipment. Key trends during this period will likely consist of brand recognition and consumer awareness, energy conservation, market infiltration tactics, worldwide economic patterns, and an emphasis on health and safety.
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What Are the Core Competitive Drivers in the Waterborne Polyurethane Industry?
The expansion of the construction sector is anticipated to fuel the growth of the waterborne polyurethane market. The construction industry, responsible for creating physical structures like houses, buildings, bridges, etc., uses waterborne polyurethane coatings for floor and wall coatings in new constructions. These coatings serve as a protective layer, providing abrasion resistance, weather resistance, and chemical resistance, which escalates the demand for the waterborne polyurethane market. For instance, the UK's Office of National Statistics reported in May 2022 that construction output grew by 1.7% in volume terms in March 2022 versus February numbers. Contributing to this growth was an increase in repair and maintenance (3.0%) and new work activities (1.0%) that propelled construction production in March 2022. Consequently, the escalating growth of the construction sector is fostering the demand for the waterborne polyurethane market.
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Which Waterborne Polyurethane Market Segment Is Projected to See the Fastest Growth?
The waterborne polyurethane market covered in this report is segmented -
1) By Type: Polyurethane Emulsion, Polyurethane Dispersion, Polyurethane Aqueous Solution
2) By Application: Coating, Sealant, Adhesive, Elastomer
3) By End-use industry: Building And construction, Automotive And transportation, Bedding And furniture, Electronics, Other End Users
Subsegments:
1) By Polyurethane Emulsion: Anionic Polyurethane Emulsions, Cationic Polyurethane Emulsions, Non-Ionic Polyurethane Emulsions
2) By Polyurethane Dispersion: Water-Based Polyurethane Dispersions, High Solid Polyurethane Dispersions
3) By Polyurethane Aqueous Solution: Low Viscosity Aqueous Solutions, High Viscosity Aqueous Solutions
Which Trends Are Opening New Opportunities in the Waterborne Polyurethane Market?
The trend of product innovations is gaining traction in the waterborne polyurethane market, with leading companies leveraging new technologies to maintain their market position. An example of this is the Japan-based DIC Corporation which, in June 2023, launched the HYDRAN GP series - environment-friendly waterborne polyurethane resins. These new resins boast a higher solid content than their conventional water-based counterparts and are free from amines. This leads to benefits such as reduced process times and less odors, while also decreasing greenhouse gas emissions and volatile organic compounds (VOCs).
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Who Are the Leaders in the Waterborne Polyurethane Market?
Major companies operating in the waterborne polyurethane market are Covestro AG, Koninklijke DSM NV, BASF SE, Allnex Belgium SA, Dow Inc., H.B. Fuller Company, Wanhua Chemical Group Co. Ltd., Kamsons Chemicals Pvt. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, Perstorp AB, Lamberti S.p.A., Sun Polymers International Inc., Lanxess AG, Lubrizol Corporation, PPG Industries Inc., Capital Resin Corporation, Palmer Holland Inc., Aditya Birla Chemicals Ltd., Hauthaway Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Nippon Polyurethane Industry Co. Ltd.
Which Regional Waterborne Polyurethane Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the waterborne polyurethane market share in 2024. The regions covered in the waterborne polyurethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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