Polyurethane Dispersion (PUD) Market Size, Share & Trends | 2030 (2024)

Global Polyurethane Dispersion (PUD) Market size was valued at USD 5.10 billion in 2022 and is poised to grow from USD 5.57 billion in 2023 to USD 11.26 billion by 2031, growing at a CAGR of 9.2% in the forecast period (2024-2031).

The market is poised for substantial growth, driven by a rising demand for leather and textile products in both everyday life and the flourishing fashion industry. The versatile applications of polyurethane dispersion further contribute to this upward trajectory, particularly in enhancing the quality and durability of materials used in the production of leather and textiles.

Market snapshot - 2024-2031

The global polyurethane dispersion (pud) market is segmented into five major segments i.e by product, application and region. Based on product the market is segmented as, water-based dispersions, solvent-based dispersions. Based on application the market is segmented as, textile finishing, natural leather finishing, synthetic leather, water-based paints, paints and coatings, others. Based on region, the market is segmented as, North America, Asia Pacific, Latin America, Middle East & Africa (MEA).

Analysis by Product

Water-based and solvent-based represent the two major product segments within the polyurethane dispersion (PUD) market. In recent years, water-based products have emerged as the dominant force on a global scale and are anticipated to maintain this trend throughout the forecast period. Projections indicate a noteworthy Compound Annual Growth Rate (CAGR) of 6.4% from 2014 to 2022 for water-based polyurethane dispersion.

The solvent-based dispersion market is poised for significant growth, with a projected CAGR of 7.3% over the next seven years. Water-based products have emerged as a favored choice due to their environmentally friendly properties, positioning them as a more suitable option for companies aiming to align with stringent environmental regulations established by governmental agencies.

Analysis by Application

The paints and coatings segment emerged as a dominant force, capturing a significant share in the global polyurethane dispersions industry. This prominence can be attributed to the widespread use of paints and coatings in the construction sector, where they find diverse applications. The escalating levels of construction activities, coupled with substantial infrastructure development, have fueled the demand for polyurethane dispersions within the paints and coatings segment.

The water-based paints application segment emerged as a dominant force, claiming a substantial 54.5% share of the overall revenue. This remarkable dominance is primarily attributed to stringent environmental regulations, including the Clean Air Act, which have incentivized the adoption of environmentally friendly alternatives. Water-based paints have become a preferred choice due to their compliance with these regulations, offering a sustainable solution that aligns with Japan's commitment to environmental conservation.

The dominance of the Asia Pacific region in the polymer dispersion market can be primarily attributed to stringent environmental regulations, exemplified by initiatives like the Clean Air Act. These regulatory measures have significantly influenced the market dynamics by incentivizing the adoption of environmentally friendly alternatives.

In North America there has been a notable rise in the emphasis on environmental regulations. Stringent guidelines targeting volatile organic compound (VOC) emissions and a heightened focus on environmental sustainability have compelled industries to embrace eco-friendly alternatives.

Drivers

High Demand form Textile and Leather Industries

• The Global Polyurethane Dispersion (PUD) Market is significantly driven by the increasing demand for blood and blood components, particularly in regions such as India where there is a substantial need for blood transfusions. The country alone witnesses an extensive requirement for blood due to factors like 60 million daily surgeries, 240 million primary operations, 331 million cancer-related procedures, and 10 million pregnancy complications.

Restraints

Increasing Demand for Acid-Epoxy Coatings

• Polyurethane dispersions (PUDs) play a pivotal role in the coatings market, but concerns over volatile organic compound (VOC) content within polyurethane coatings have become a focal point for the industry. Addressing this issue requires substantial investment in Research and Development (R&D) by raw material suppliers to pioneer newer technologies that align with the industry's "zero-VOC" target.

The competitive environment of the Global Polyurethane Dispersion (PUD) Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Global Polyurethane Dispersion (PUD) Market.

Top Player’s Company Profiles

• Bayer

• DSM

• Chemtura

• Lubrizol

• BASF

• Alberdingk Boley

• Hauthaway

• Stahl

• Mitsui Chemicals

• UBE

• DIC

• Reichhold

• Wanhua Chemical

• Dow Chemical

• SiwoChem

• SNP

• Chase

• VCM Polyurethanes

Recent Developments

• In April 2023, novel polyurethanes with precisely controlled structures were successfully synthesized through polyaddition polymerization. These innovative polymers belong to the category of alternating block polyurethanes, and their structural composition is based on poly(propylene glycol) and poly(ethylene glycol) segments connected through urethane linkages.

Government Regulations Regarding Environment-Friendly Products

• The Global Polyurethane Dispersion (PUDs) market stands to benefit significantly from the formulation and enforcement of stringent environmental regulations by governing bodies across various global economies. Notably, various solvents employed in the manufacturing of these dispersions, such as NMP, NEP, and DMSO, contribute to increased Volatile Organic Compound (VOC) emissions.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Global Polyurethane Dispersion (PUD) Market analysis reveals a dynamic marketplace largely propelled by the burgeoning demand for sustainable and environmentally friendly coatings and adhesives, coupled with a heightened awareness of health and safety considerations, stands out as a significant driver propelling the growth of the Polyurethane Dispersion (PUD) market. Manufacturers, in response to a global shift towards eco-conscious practices, are increasingly prioritizing the development of PUDs from bio-based and renewable raw materials.

For the Global Polyurethane Dispersion (PUD) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polyurethane Dispersion (PUD) Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Polyurethane Dispersion (PUD) Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Polyurethane Dispersion (PUD) Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.