Waterborne Polyurethane Market - Research Report by Regional Analysis : Forecast 2024
Waterborne polyurethanes are urethane polymers that are completely reacted and dispersed in water. These urethane polymers do not contain residual free isocyanate and are eco-friendly. Waterborne polyurethanes are increasingly used in paints and coatings and adhesives industries. Rising demand for waterborne polyurethanes can be ascribed to the continuously growing pressure for delivering environment-friendly high performance products. Therefore, the waterborne polyurethanes market is expected to record noteworthy growth in the next eight years.
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Asia Pacific is anticipated to be the fastest growing market for waterborne polyurethane in the next few years. This can be primarily ascribed to increasing demand for waterborne polyurethane in countries such as China, India, Indonesia, Malaysia, and Thailand. Additionally, nations such as Brazil, Argentina, South Africa, Saudi Arabia, Egypt, and Israel are experiencing swift growth in the paints and coatings, residential and commercial construction, and infrastructure industries since the last few years. There is immense market potential for the construction and paints and coatings industries in countries such as China, India, Qatar, Indonesia, Thailand, and Brazil due to speedy infrastructure development prevalent in these countries.
Furthermore, Brazil and Qatar are hosting large-scale events such as Olympics and the FIFA World Cup in the next few years. These countries are developing numerous state-of-the-art stadiums and other infrastructure for the events. Thus, the demand for construction-related products such as paints and coatings is projected to rise at a notable rate in the next few years. This would ultimately lead to high demand for waterborne polyurethane in these emerging nations. Brisk growth in construction, infrastructure, and paints and coatings industries across the globe, especially in developing economies, is likely to drive the global waterborne polyurethane market in the next few years. Furthermore, the U.S. and countries in Europe are gradually recovering from the economic slowdown.
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Owing to these factors, the global waterborne polyurethane market is expected to witness high demand for the coatings in the next eight years. Major players operating in the paints and coatings market are primarily focusing on developing economies for tapping their market potential. These companies are installing dedicated production facilities in developing countries to meet the rapidly growing demand for paints and coatings. Therefore, the global waterborne polyurethane market is estimated to expand significantly in the next eight years.
Key players operating in the waterborne polyurethanes market include 3M, Henkel AG & Co. KGaA, The Dow Chemical Company, Bayer MaterialScience, PPG Industries, Inc., BASF SE, The Sherwin-Williams Company, RPM International Inc., and Lamberti SpA.
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