Waterborne Polyurethane Market to Grow with a CAGR of 4.32% through 2028
Surging adoption of sustainable products are expected
to drive the Global Waterborne Polyurethane Market growth in the forecast
period, 2024-2028.
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 government based on waterborne polyurethane has 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
the 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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"Global Waterborne Polyurethane Market”
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 in 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,
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 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 competitive landscape
and presence of well-established companies in the market who are dedicated to
enhance their productivity of waterborne polyurethane with every passing year
are anticipated to register an impressive growth to 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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