TAGS: Waterborne Adhesives Polyurethane Adhesives
Transparency Market Research (TMR) has anticipated that the global polyurethane dispersions (PUDs) market to reach USD 7 billion by 2030, at a CAGR of 5.5%, during the forecast period.
Manufacturers Bolster Credibility by Introducing Water-based Systems
Leading chemical companies in the Europe polyurethane dispersions market are keen on expanding their portfolio in adhesives and automotive coatings to generate revenue streams. For instance, BASF announced to invest in the capacity expansion of water-based polyurethane dispersions (PUDs) at its production facility in Spain.
Companies in the Europe polyurethane dispersions market are tapping opportunities in automotive and industrial coatings. This is evident since paint & coating application segment is projected for exponential growth. Manufacturers in the market for polyurethane dispersions in Europe are aiming to increase their production capacities to strengthen their supply chains of high-quality polyurethane dispersions. They are increasing their focus in adhesives to support the preference from solvent-based systems to more environmental-friendly water-based systems.
Increased Demand for Bio-based Binders for Novel Adhesive Technologies
The demand for bio-based materials is surging due to increased awareness about environmental footprint in the market for polyurethane dispersions in Europe. This is also true in the field of adhesives, as manufacturers are increasing their efficacy to source renewable materials. As such, adhesives & sealants application segment is expected to witness considerable growth in terms of revenue in the Europe polyurethane dispersions market. However, sustainability is one of the main concerns in the field of bio-based materials, since it is challenging to incorporate new materials as drop-in replacements in existing technologies. This the modest growth of the Europe polyurethane dispersions market, which is anticipated to progress at a rate of 5.5% during the forecast period. Hence, manufacturers are focusing on new molecular architectures to overcome the limitations associated with bio-based resources.
Companies in the market for polyurethane dispersions in Europe are innovating in novel adhesive technologies by sparking interest in traditional bio-based binders such as starch and renewable rubber to comply with strict regulatory norms.
New Developments in PUDs for Novel Adhesives & Sealants
Solvent-free waterborne PUDs are growing popular as low/no VOC solutions for novel adhesives. Companies are aiming to bolster their credibility in the Europe polyurethane dispersions market by increasing the availability of coatings and adhesives that offer stable and precise performance properties that align with specific cost requirements of end users. For instance, Perstorp-a Swedish company dealing in specialty chemicals, has a rich portfolio in PUDs such as Oxymer™, Ymer™ and Bis-MPA™ plus renewable polyalcohols that offer the required flexibility to resin producers.
Uncompromised performance and enhanced sustainability are becoming the key focus points for companies in the Europe polyurethane dispersions market. Due to tighter environmental and health legislations, water-based dispersions are being highly preferred in the market for polyurethane dispersions in Europe. With the availability of innovative PUDs, manufacturers can create extremely versatile and high-performance coating systems.
Continuous Growth in European Region
The Europe polyurethane dispersions market is continuously growing due to high presence of fragmented players, accounting for ~58% of the market stake. Hence, manufacturers are competing to increase the availability of PUDs with customizable properties and that offer the required flexibility and durability to end users in demanding applications.
Bio-based materials are increasingly replacing petroleum-based resources for the development of adhesives. However, in the current scenario, large-scale commercialization of bio-based adhesives has led to additional costs associated with the implementation of materials in existing technologies. Hence, companies should increase their focus in plant-based materials to induce properties that favour densely cross-linked networks and adhesion to a variety of substrates.
Source: Transparency Market Research