The aqueous polyurethane dispersion market was estimated to be worth USD xx billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of xx.x% from 2024 to 2034, reaching USD xx billion. The market is increasing and sustainable since it is in line with a variety of industries.
A polymer resin that is equally distributed throughout the aqueous phase after being dispersed in water is known as an aqueous polyurethane dispersion. They are popular in many different industries for coating, adhesives, and other applications because of their qualities, which include minimal volatile organic compounds.
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GROWTH DRIVERS
One of the main factors propelling the market for aqueous PUDs, which are widely utilized as sealants and adhesives, is the increase in infrastructure development and construction as well as the rate of urbanization. According to the World Bank, around 4.4 billion people, or 56% of the world's population, currently reside in cities. By 2050, the urban population is predicted to have more than doubled from its current level, with approximately seven out of ten people living in cities.
According to the Global Construction 2030 research, the construction industry is expected to increase by 85.0% to reach USD 15.5 trillion globally by 2030, with China, the United States, and India leading the way and contributing 57.0% of the total expansion. Additionally, the market for coating applications is significantly driven by the increase in vehicle production.
MARKET SEGMENTATION:
· By Application- coatings, adhesives, sealants, textile finishes, leather finishing, elastomers and others
· By End Users- building and construction, textile, automotive, furniture, packaging and others
· By Regions- North America, Europe, Asia Pacific, South America, Middle East and Africa
Global Key Players:
· BASF
· Covestro
· Huntsman
· Dow Chemical Company
· Evonik Industries
· Lanxess
· Wacker Chemie
· Ashland Global Holdings
· Cargill
· RPM International
· Other Players
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