Global Waterborne Polyurethane Market

Global Waterborne Polyurethane Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Application (Coating, Sealant, Adhesive, Elastomer, and Other Applications); By End-Use Industry (Building & Construction, Automotive & transportation, Bedding & Furniture, Electronics, and Other End-Use Industries); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis

Category Chemicals & Advanced Material
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Waterborne Polyurethane Market Insights

The waterborne polyurethane market will have a moderate or stagnant growth rate of 5.5% from 2020 to 2026. Waterborne polyurethane is a fully reactive urethane polymer which when dispersed in water gives out no to low odor. Excellent adhesive properties, easy usage with non-toxic, non-flammable, and eco-friendly properties are the major drivers of the waterborne polyurethane market to grow at a global level. The high demand for innovative, eco-friendly, and cost-efficient waterborne polyurethane-based products is increasing the growth of the market. A wide range of applications such as wood floorings, leather surfaces, film coating, textile coating, and graphic arts are leading to the rising adoption of the product in both developing and non-developing countries.

On the other hand, solvent-based polyurethane is a liquefying agent that evaporates when comes to contact with oxygen. However, the emission of toxic fumes and volatile organic compounds in the atmosphere are responsible for severe respiratory disorders and cause environmental pollution. Owing to harmful effects, emission regulatory bodies have pressurized the manufacturers to develop eco-friendly products at a cheaper cost.

COVID-19 has largely affected the waterborne polyurethane market growth due to the temporary shutdown of end-user industries. Lockdown has led to a distorted supply chain, workforce availability, demand drop, logistical restriction, and limited components available in the transportation and construction industries. The extraction of waterborne polyurethane's raw material from crude oil is another challenging factor responsible for the high cost of the product.

Global Waterborne Polyurethane Market Size – Forecasts to 2026

Waterborne Polyurethane Market: By Application

Based on application, the market is segmented into sealant, coating, elastomer, adhesive, and other applications. The sealant will be the fastest-growing application segment of the waterborne polyurethane market. They provide a much tighter seal, provide high-stress recovery to retain the shape after being deformed, have an extremely fast curing rate, and can adhere to even non-primed concrete. Sealant possesses UV and water-resistant properties with excellent adhesion to various industrial materials. The coating is another application segment that is expected to grow at a moderate rate in the projected period owing to increase use and demand of the product in the construction and automotive industry.

Global Waterborne Polyurethane Market Segmentation

Waterborne Polyurethane Market: By End User

Based on the end-user analysis, the market is segmented into automotive & transportation, building & construction, electronics, bedding & furniture, and other end-user industries.

Building & construction industries are the largest growing end-user of the waterborne polyurethane market. The product is the best replacement for the solvent-based polyurethane with an eco-friendly approach for this industry. Advantages such as temperature curing, good adhesion property with product affordability, and versatility have helped build the market growth. Frequent demand for waterborne polyurethane in construction and building application will further reinforce the market value and growth.

Waterborne Polyurethane Market

Waterborne Polyurethane Market: By Region

Asia-Pacific, Middle East, and Africa, Europe, North America, Central & South America.  APAC region is the largest waterborne polyurethane segment on a global scale. Increasing construction and industrial activities, economic growth, and demand for this product in the last few years have led the region to be the fastest-growing regional segment. China is known for its huge construction business setup with high consumer percentage is fueling the market of the entire segment. Countries like India, South Korea are also known for the demand and market of the product but at a very decent rate.

Europe will be the second-largest waterborne polyurethane market due to the stringent government regulatory policies related to construction projects and the adoption of environmentally friendly products by various end-users.

Waterborne Polyurethane Market: Competitor Analysis

The key players operating in the market include Covestro, DSM, BASF, R Stahl, Chemtura, Dow Inc ., H.B. Fuller, Wanhua Chemical Corporation, SNP Inc., KAMSONS Chemical Pvt. Ltd., and others.

Please note: This is not an exhaustive list of companies profiled in the report.

In June 2020, Covestro developed the first partially bio-based film, MAKROKOL EC. The film is polycarbonate-based with 50% carbon content which is extracted from the plant-based biomass.

In January 2020, DSM, successfully integrated a bio-based resin, DECOVERY SP-2020 XP into DOMOTEX 2020 using coating formulators Ciranova and Arboritec.

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The Global Waterborne Polyurethane Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Waterborne Polyurethane Market

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Waterborne Polyurethane Market

Waterborne Polyurethane Market

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Waterborne Polyurethane Market

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.

Waterborne Polyurethane Market

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