According to TechSci Research report, “Waterborne Polyurethane Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Waterborne Polyurethane Market stood at USD1.85 billion in 2022 and is anticipated to grow with a CAGR of 4.32% in the forecast period, 2023-2028. The initiatives taken by the government based on waterborne polyurethane have led to favorable market conditions for the Global Waterborne Polyurethane Market. Several factors contribute to the growth of various waterborne polyurethane products.
One of the key government initiatives significantly influencing the waterborne polyurethane (WPU) market is the implementation of strict regulations on volatile organic compounds (VOCs) in coatings. These regulations aim to reduce the environmental impact of traditional solvent-based coatings, which emit high levels of VOCs, contributing to air pollution and health issues. In contrast, WPUs, with their lower VOC emissions, align well with these regulations, making them a more environmentally friendly choice. This alignment has led to a substantial increase in the demand for WPUs as industries strive to comply with regulatory standards and improve their sustainability practices.
In markets like Canada, government initiatives aimed at bolstering the construction sector are indirectly driving the growth of the WPU market. WPUs are widely used in the construction industry due to their exceptional properties, including high flexibility, superior adhesion, and excellent abrasion resistance. These properties make WPUs ideal for various construction applications, such as coatings, adhesives, and sealants. As the construction sector experiences a boost from government initiatives, such as infrastructure development projects and housing programs, the demand for WPUs continues to rise. This increasing demand stems from the construction industry’s recognition of the benefits offered by WPUs in terms of performance, durability, and environmental sustainability.
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Waterborne polyurethane (PU) has experienced rapid growth in recent years, primarily due to stringent environmental legislation, such as the Clean Air Act. Additionally, advancements in technology have made waterborne polyurethane a viable and sustainable alternative to solvent-based analogs.
This versatile coating material offers a wide range of hardness and solid content levels, making it suitable for various applications. Its environmentally friendly nature, with zero to low volatile organic content, allows for easy formulation into compliant coatings for different substrates.
The adaptability of waterborne polyurethane, coupled with its superior properties like abrasion resistance, impact strength, and low-temperature flexibility, has made it increasingly popular across multiple industries. As a result, the Waterborne Polyurethane Market continues to expand, catering to the growing demand for sustainable and high-performance coating solutions.
The Global Waterborne Polyurethane Market is segmented into product type, end-user, regional distribution, and company.
Based on its end user, the building & construction segment held the largest share of the market. One of the main factors driving the demand for WPUs (Waterborne Polyurethanes) in the construction industry is the growing recognition of the importance of eco-friendly coatings. With the increasing need to reduce environmental impact, the drawbacks of traditional solvent-based coatings have become evident. These coatings release high levels of volatile organic compounds (VOCs) into the atmosphere, contributing to air pollution and posing health risks. In contrast, WPUs emit lower levels of VOCs, making them a more sustainable and environmentally friendly choice.
This aligns well with the current trend towards green buildings and sustainable construction practices. As society becomes more conscious of the need for eco-friendly solutions, WPUs are gaining popularity for their ability to meet stringent environmental regulations while offering excellent performance.
Moreover, WPUs showcase exceptional properties that make them highly suitable for a wide range of applications within the construction industry. Their high flexibility allows them to accommodate structural movements, making them ideal for flooring systems and wall finishes. Additionally, WPUs exhibit superior adhesion properties, ensuring long-lasting and durable bonds in various construction applications. Their excellent abrasion resistance further enhances their suitability for demanding environments.
In summary, WPUs are gaining traction in the construction industry due to their eco-friendly nature, excellent performance, and versatility across different applications. As the industry continues to prioritize sustainability and seek high-performance solutions, WPUs are poised to play a crucial role in shaping the future of construction materials.
Based on region, the North America segment is expected to grow during the forecast period.
North America, particularly the United States, has gained recognition for its exceptional research and development capabilities. This region has been instrumental in fostering progressive advancements in WPU (Waterborne Polyurethane) formulations, resulting in enhanced durability, weatherability, and chemical resistance. These innovations have not only contributed to the growth of the market but have also paved the way for new possibilities and applications in various industries.
Major companies operating in the Global Waterborne Polyurethane Market are:
- The 3M Company
- Henkel AG & Co. KGaA
- The Dow Chemical Company
- Bayer Material Science Pvt Ltd
- PPG Industries Inc.
- BASF SE
- The Sherwin-Williams Company
- RPM International Inc.
- Lamberti SpA
- Covestro AG
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“Growing application of waterborne polyurethane in various end-user industries are key drivers of the waterborne polyurethane market. Growth in the competitive landscape and presence of well-established companies in the market who are dedicated to enhancing their productivity of waterborne polyurethane with every passing year is anticipated to register impressive growth in the Global Waterborne Polyurethane Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Waterborne Polyurethane Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Anionic PUDs, Cationic PUDs, Non-Ionic PUDs, Single-Component Polyurethane, Two-Component Polyurethane, Others), By End User (Building & Construction, Automotive, Electronics & Electricals, Textile, Packaging, Others), By Region and Competition, 2018-2028F”, has evaluated the future growth potential of Global Waterborne Polyurethane Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Waterborne Polyurethane Market.
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Table of Content-Waterborne Polyurethane Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Global Waterborne Polyurethane Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Product Type (Anionic PUDs, Cationic PUDs, Non-Ionic PUDs, Single-Component Polyurethane, Two-Component Polyurethane, Others)
4.2.2. By End User (Building & Construction, Automotive, Electronics & Electricals, Textile, Packaging, Others)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Product Type
4.3.2. By End User
4.3.3. By Region
- Asia Pacific Waterborne Polyurethane Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product Type
5.2.2. By End User
5.2.3. By Country
