Polyurethane dispersions (PUDs) are one of the most rapidly growing segments of the polyurethane coatings industry, owing to the introduction of environmental regulations on use of solvent based analogs. PUD demand is expected to increase in line with the expected growth in end-use applications such as automotives, textiles and the furniture and interiors industry.
Regulatory scenario is expected to favor low Volatile Organic Compounds (VOCs) compounds, with ecolabels such as M1, Blue Angel, EMICODE, and Indoor Air Comfort and so on; this is expected to drive PUD demand over the next five years. Volatile raw material supply, including fluctuations in MDI and TDI prices, is expected to pose a serious challenge to market participants, in maintaining profitability.
Cost reduction is the need of the hour in the present market scenario; PUDs are often blended with other low cost dispersions such as acrylic emulsions due to familiarity in their properties to offset cost.With increasing industry awareness and technological advancement, water-based or aqueous PUDs are expected to be the key product segment in the polyurethane industry in the near future.
The demand for water based PUDs is expected to reach 202.2 kilo tons in 2018. Solvent-based PUD market revenue is expected to grow at a CAGR of 6.9% by 2018, primarily due to rising product prices.
Asia Pacific dominated the global polyurethane dispersions market and accounted for 36.6% of the total market volumes in 2012, owing to the huge demand from China. By 2018, this share is expected to cross 37.8%, thus maintaining Asia Pacific'sleading market position in the industry. Asia Pacific was followed by Europe in terms of PUD consumption. North America PUD volumes, dominated by the U.S., are expected to reach 60.1 kilo tons by 2018.
Adhesives, coatings and synthetic leather production are key market applications, together accounting for over 89% of global PUD volumes in 2012. PUD demand for synthetic leather production and natural leather finishing is expected to grow at a CAGR of over 7% from 2012 to 2018. Alberdingk Boley, Bayer MaterialScience AG, BASF SE., Chemtura Corporation, Dow Chemical Company, Mitsui Chemicals Inc., Cytec Industries Inc., Hauthaway Corporation, and Lubrizol are some of the key participants of the PUD market.
Transparency Market Research
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