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Coatings segment is estimated to lead the overall waterborne polyurethanes market

 The Waterborne Polyurethanes Market is projected to grow from USD 1.7 billion in 2020 to USD 2.1 billion by 2025, at a CAGR of 5.2%. The demand for environment friendly polyurethanes is increasing with the growing awareness about the harmful effects of hazardous chemical emissions.

On the basis of application, coatings segment is estimated to lead the overall waterborne polyurethanes market in 2020.

Waterborne polyurethanes are a rapidly growing segment of polyurethane coating industry owing to environmental regulations such as the Clean Air Act and technological advances that made them an effective substitute for the solvent-based coatings. Their versatility and wide range of properties such as abrasion resistance, impact strength, and low temperature flexibility are the driving force to their continuously expanding usage in many applications. Waterborne polyurethane coatings improve appearance and lifespan of products.

On the basis of end-use industry, building & construction segment is estimated to lead the waterborne polyurethanes market in 2020.

Waterborne polyurethanes have been at the epicenter of coating industry, providing greener solutions to modern coating problems. This chemical is polyurethane dispersed in water. This reduces the dependence on solvent-based polyurethanes, providing a better and environment-friendly replacement for existing systems. Advantages like temperature curing and good adhesion further reinforce the case for waterborne polyurethanes. It is frequently used in building and construction applications. Affordability of these versatile materials and the comfort they provide have made polyurethane components part of building & construction globally.

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COVID-19 impact on Global Waterborne polyurethanes Market

The waterborne polyurethanes are used in various end-use industries such as automotive & transportation, building & construction, bedding & furniture, electronics, and others. COVID-19 has impacted these industries.

  • The lockdown in various countries and logistical restrictions have adversely impacted the automotive & transportation industry. Supply chain disruptions, workforce unavailability, logistical restrictions, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing due to lockdown in various countries have adversely affected the industry. OEMs, raw material suppliers, and other related businesses are forced to re-evaluate their strategies to cater to this industry during this crisis period.
  • Residential and commercial construction has come to a grinding halt owing to the pandemic. Waterborne polyurethanes demand from this sector is expected to be low to the medium during this crisis period. Some major issues would be a delay in order shipments, supply chain restriction, manpower & equipment shortage, and material shortage. Post conclusion of this crisis, the market is expected to revive, and demand is likely to increase for the waterborne polyurethanes market.
  • The demand for bedding has increased in the healthcare sector, owing to the pandemic. A rise in demand from various hospitals and care institutions for supplying these mattresses for the increasing number of patients is boosting the consumption of waterborne polyurethanes in the manufacturing of these devices/equipment.

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Covestro (Germany) is among the key players in the waterborne polyurethane market. The company adopted the strategies of new product launch to strengthen its competitiveness in the global waterborne polyurethane market. For instance, in July 2018, Covestro had newly developed polyurethane dispersions named Impraperm DL 5249 and Impraperm DL 5310. These are used as textile coatings and enables effective waterproofing and breathability of coatings using the waterborne technology. This strategy had helped the company to provide eco-friendly textile production for its customers without the use of solvents.

DSM (Netherlands) is one of the leading manufacturers of waterborne polyurethanes. The company adopted partnership as one of its key business strategies. For instance, in June 2019, the Company partnered with TLF (Germany), a globally operating company supplying specialty chemicals to leather and related industries. This partnership includes supply as well as R&D of cutting edge, sustainable waterborne polyurethane dispersions system. By partnering at different points in the value chain, DSM and TLF are able to further unlock the value of sustainable leather finishes and strengthen their respective market positions.

The key players profiled in this report include Covestro (Germany), DSM (Netherlands), BASF (Germany), R STAHL (Germany), Chemtura (the US), Dow Inc ., (the US), H.B. Fuller (the US), Wanhua Chemical (China), SNP Inc., (the US), and KAMSONS Chemical Pvt. Ltd., (India). These companies have adopted various organic as well as inorganic growth strategies between 2015 and 2020 to enhance their regional presence and meet the growing demand for waterborne polyurethanes from emerging economies.  

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