A recent study by Transparency Market Research (TMR) forecasts that the global polyurethane dispersions market will grow at a CAGR of 7.5% between the years 2012 to 2018. TMR, a market intelligence firm based in the United States, in its report says that the global polyurethane dispersions market will report a market value worth US$1.18 billion by 2018. The report is titled ‘Polyurethane Dispersions Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018.
According to this market research report, the global polyurethane dispersions market is primarily driven by the growth of the textile finishing industry, and higher production of synthetic leather. Polyurethane dispersions refer to high solid dispersions of polyurethane polymers in water. These are mostly used for manufacturing polyurethane coatings and adhesives that contain low levels of organic compounds that are volatile which exhibit superior coating and excellent adhesion properties for metals, wood, rubber, textiles, plastics, and other miscellaneous high performance substrates. Polyurethane dispersions ensure polyurethane-like-performance, however, with added advantages like the absence of toxic and volatile organic compounds, elimination of odor, and the absence of harmful monomers. They possess high degree of toughness and are generally used in adhesives, sealants, and coatings.
This TMR report has segmented the global polyurethane dispersions market in terms of product, application, and geography. Based on the type of product, this market has been classified into two main categories which are water based polyurethane dispersions, and solvent based polyurethane dispersions. On the basis of applications, the polyurethane dispersions market is segmented into natural leather finishing, textile finishing, synthetic leather production, and other applications. In terms of consumption, the global polyurethane dispersions market is dominated by the segment for adhesives and coatings. Owing to rising demand for synthetic leather from industries like that of interiors, furniture, and automobile, it is anticipated that the synthetic leather production segment will witness robust growth in the forthcoming years.
Regionally, the global polyurethane dispersions market is categorized into Europe, the Asia Pacific, North America, South America, and Rest of the World. In the year 2012, the global polyurethane dispersions market was led by the Asia Pacific with a share of almost 37%. The Asia Pacific was followed by Europe which accounted for almost 29% of the total market share in the overall polyurethane dispersions market. It is expected that the Asia Pacific will retain its leading position in the years to come both in terms of revenue and production. The Asia Pacific polyurethane dispersions market is driven by greater production and consumption of polyurethane dispersions in the emerging economies of china and India.
Some of the prominent participants in the global polyurethane dispersions market are Mitsui chemicals inc., Lubrizol, Hauthaway Corporation, Dow chemical company, Cytec industries inc., Chemtura Corporation, and Alberdingk Boley, Inc.