Surge in Demand for Flexible Packaging Triggers Increased Requirement of Polyurethane Dispersion, Evaluates Fact.MR
Published : 21 Apr 2021 Industry: Chemical & Materials
Sustainable packaging has become the need of the hour in recent years on account of rising demand for compostable raw materials. Future development of bio-degradable packaging material is expected to be highly reliant on improved adhesives, which, in turn, are dependent on water-based polyurethane dispersion. Besides, use of a multitude of variants of plastics in modern cars needs superior adhesion for a smoother appeal, which requires automakers to trace back the adhesive manufacturing technology of their raw material suppliers. These factors promise significant opportunities on offer for polyurethane dispersion manufacturers.
As per a new report published by Fact.MR, the global polyurethane dispersion (PUD) market is anticipated to exceed a valuation of US$ 1.9 Bn by the year 2021, and is expected to expand at an impressive CAGR of close to 8% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- In 2020, South Asia and East Asia together accounted for over 50% revenue of the global polyurethane dispersion market.
- The market in South Asia is estimated to grow nearly threefold from 2021 to 2031.
- Water-based polyurethane dispersion accounts for over 55% of the global market revenue.
- The market is expected to generate over US$ 1.2 Bn revenue from leather finishing applications.
- The global market is moderately concentrated, where companies such as BASF, Bayer, The Dow Chemical Company, Alberdingk Boley, and Covestro account for a majority of the market share.
“Besides offering application-specific polyurethane dispersion, companies have started to focus on sustainable products that abide by local regulations regarding environmental safety,”says a Fact.MR analyst.
Water-based polyurethane dispersion is likely to make quick in-roads across regions, replacing solvent-based products on a large scale. This is compelling companies across the world to boost their production capacity of water-based products.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global polyurethane dispersion market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis of type (water-based polyurethane dispersion and solvent-based polyurethane dispersion) and application (paints and coatings, adhesives and sealants, leather finishing, textile finishing, and others), across seven major regions of the world (North America, Latin America, Europe, MEA, East Asia, and South Asia and Oceania).
Fact.MR’s Domain Knowledge in Chemicals and Materials
Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Chemicals and Materials