Polyurethane Dispersions Market
Polyurethane is a polymer that contains urethane links connecting organic units of polymers. Polyurethanes are formed by reaction between di-isocyanate or polyiscyanate and polyol. Polyurethanes products have a wide range of applications adhesives & sealants, insulation, construction, coatings etc. Owing to different properties polyurethane products are divided into different types of thermosetting polymers and thermoplastic polymers. Polyurethane dispersion is a two-component technology that involves dispersion of polyurethanes into different liquefying agents. Polyurethane dispersion can be further classified as solvent based dispersion and water-based dispersion.
On account of properties such as low density, flexibility, durability, resistance to abrasion & fatigue, strength polyurethane dispersion has numerous applications. A major section of polyurethane dispersion is used in coatings in many industries like textile, automobile, construction, leather industries, aerospace, furniture etc. Polyurethanes are characterized with flexibility, durability, resistance to abrasion & fatigue, strength, hence are majorly used in coating applications. Water based dispersion is environment-friendly and can be used in many industries. Coatings and paint industries are the major application segments of polyurethane dispersion. Binders in industrial coatings, concrete sealers, insulation coating, paper coating, textile finishing etc. are the other coating applications of polyurethane dispersion.
Specialty coating, especially in military and marine, is another important application segment. Polyurethane dispersions are the ideal materials with significant performance with growing environmental regulations on low volatile organic compounds (VOC), in turn growing the coating applications in polyurethane dispersions market. Adhesives on the polyurethane dispersions are used for laminating foot panels of furniture, automobile interior parts and also for sealing of shoe soles. The Strong reliable bonding strength is essential for the finished parts that are to be processed further. Polyurethane dispersion is used in these applications. Polyurethane dispersion is also used in elastomers and fibers.
Immense growth in global demand for automobile industries is expected to drive global polyurethane dispersion market. Synthetic leather production by incorporation of polyurethane dispersions is also expected to drive the demand of global polyurethane dispersion market. Growing furniture market is another factor expected to drive global polyurethane dispersion market. Eco-friendly nature of water-based polyurethane dispersion is expected to drive the demand for water-based global polyurethane dispersion market. Toxicity and negative effects are the restraining factors for solvent based polyurethane market.
Asia Pacific was the most dominant region for global polyurethane dispersion market in 2015. It is expected to be the fastest growing market for polyurethane dispersion in the coming years. The highest growth is anticipated to be witnessed as a result of economic expansion in this region. Economic growth of the region is expected to increase the demand for polyurethane market. Leap in the demand for global polyurethane dispersion market is vigorous in this region owing to rapid development in the segments of coatings, adhesives, leather production etc. with China being the most dominating market. In developing economies such as India, Germany, France, China and Italy the global polyurethane dispersion market is expected to take a leap in the forecast period. North America and Europe are expected to witness the boost in the market owing to the industrial expansion and growing infrastructure.
Some of the key players in the polyeurethane market include Mitsui Chemicals Inc., Alberdingk Boley GmbH, Chemtura Corporation, Covestro AG, COIM, Lamberti SPA, The Dow Chemical Company, ICAP-SIRA Chemicals, BASF SE, Chase Corporation
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