Waterborne Polyurethane Coatings Market Size, Share and Competitive Landscape 2017-2022
Global Waterborne Polyurethane Coatings Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Waterborne polyurethane coatings are coatings and adhesives that use water as the main solvent, that makes them eco-friendly and easy to use. These coatings have a low odor. They show exceptional bonding too many surfaces like polymeric fibers and glass. These polymers do not pollute the air or produce wastewater and are non-toxic and non-flammable. Moreover, polyurethanes are insoluble in water and hydrophobic in nature. These are exclusively used in printing inks, wood coatings, plastic coatings, and furniture coatings.
Waterborne Polyurethane Coatings Market is segmented based on types, application, and region. Types such as Polyurethane Aqueous Solution Coating, Polyurethane Emulsion Coating, and Polyurethane Dispersion Coating classify the market. Applications into Paper & Adhesives, Textile, Building Materials, Leather Processing, Timber Processing, Coating, and others classify Waterborne Polyurethane Coatings Market.
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The coating segment accounts for the largest market share of Waterborne Polyurethane Coatings Market in terms of volume and value. The market is estimated to lead the overall market in the years to come. The reason being, rising use in industries like building & construction and automotive. Waterborne Polyurethane Coatings Industry is segmented geographically Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, Europe accounts for the largest market share of Waterborne Polyurethane Coatings Market and is estimated to lead the overall market in the upcoming years. Moreover, it is projected to grow at highest CAGR in the years to come. North America and Asia Pacific follow suit.
On the other hand, Asia Pacific is estimated to grow at fastest pace in the years to come. The reason being, industrial expansion and infrastructure development and it is the main region for the manifold adoption rate of waterborne polyurethane. India, China, Indonesia, and Malaysia are the major consumer of Waterborne Polyurethane Coatings in this region.
The key players of Waterborne Polyurethane Coatings Market are Bergers Paint India Limited, AkzoNobel NV, Tikkurila Oyj, Axalta Coating Systems, Kansai Paint Company, RPM International, Nippon Paint Company, and PPG Industries. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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