NEW YORK, Dec. 16, 2015 /PRNewswire/ --
"The high potential from the textile and leather industry, and increasing global demand for automotive is driving the market for polyurethane dispersions"
The market size for polyurethane dispersions is projected to reach USD 2.04 billion by 2020, registering a CAGR of 6.8% between 2015 and 2020. Increasing demand from the leather & textile industry is the major driver for polyurethane dispersions market. The global textile and leather industry is expected to rise with the growing demand from various end-use industries. With some major economies, such as India, China, Germany, Italy, and France, the market is expected to boost further. The leather industry is another major segment boosting the growth of polyurethane dispersions, globally. Further, the production of synthetic leather, incorporating polyurethane dispersions is hugely driving the demand for polyurethane dispersions at present. The global automotive industry is witnessing strong growth and profitability. Asia-Pacific is the growing market for the automotive industry. Japan and China are the major exporters of automobile products in Asia-Pacific. In addition, the expanding automobile industry in the developing economies of the Central and South American region contributes hugely to the polyurethane dispersions market.
Coatings, the largest application for polyurethane dispersions
Coatings are the largest application of polyurethane dispersions. Polyurethane dispersions are used widely for coatings application in various end-use industries such as construction, automotive, aerospace, electronics, leather, textile, wood, and other sectors. As polyurethane dispersions are characterized with adhesion to a range of substrates, resistance to chemicals, solvents and water, abrasion resistance and flexibility, it is the ideal material for the coatings application. Additionally, the coatings segment is expected to boost further with the shift in industries from developed to developing economies, particularly from the U.S. to China. Different types of coatings such as decorative coatings, industrial coatings, architectural coatings, and maintenance coatings market are growing individually. Polyurethane dispersions are the ideal material performing significantly in the coatings market with the growing environmental legislations and government regulations on low VOCs; hence, enhancing the growth of coatings application in the polyurethane dispersions market.
Asia-Pacific, the largest and fastest-growing market for polyurethane dispersions
Asia-Pacific is the largest market for polyurethane dispersions globally, with China being the most dominant market. This region is witnessing the highest growth rate which is attributed to the rapid economic expansion currently undergoing in the region. The demand of polyurethane dispersions is highly dependent on the economic growth of a region. Further, rapid development in Asia-Pacific is vigorously driving the demand for polyurethane dispersions for coatings, leather production, adhesives, and other applications.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: by company; by designation; and by region.
- By Company Type- Tier 1- 50%, Tier 2- 37% and Tier 3- 13%
- By Managers- 50%, Research & Consultants- 25% and Others- 25%
- By Region- Asia-Pacific- 62%, and Europe- 38%
The report also includes company profiles and competitive strategies adopted by the major market players, such as Covestro AG (Germany), Alberdingk Boley GmbH (Germany), Lamberti SPA (Italy), The Dow Chemical Company (U.S.), Chemtura Corporation (U.S.), Mitsui Chemicals Inc., (Japan), BASF SE (Germany), Chase Corporation (U.S.), COIM (Italy), and ICAP-SIRA Chemicals (Italy), among others.
Reasons to buy the report:
- To understand the global, regional, and national scenarios.
- To understand the market trends and dynamics along with key factors affecting
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for polyurethane dispersions
- To track the recent developments in polyurethane dispersions market
- To understand the competitive background of the industry, and positioning of participants in the market
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