TAGS: Sealants Waterborne Adhesives Polyurethane Adhesives
Markets and Markets (M&M) anticipates that the global waterborne polyurethanes market projected to grow from USD 1.7 billion in 2020 to USD 2.1 billion by 2025, at a CAGR of 5.2 percent, during the forecast period.
Increased Demand for Eco-friendly Products
The demand for waterborne polyurethanes in emerging economies, such as APAC and South America, is increasing owing to the growing construction industry. The volatility in raw material prices is hindering the waterborne polyurethanes market.
The demand for waterborne polyurethanes is increasing, owing to the growing demand for innovative and environment friendly products. The increase in awareness around harmful effects of solvent based polyurethanes is provides growth opportunities to the market.
Fastest Growth in the Sealant Application
Waterborne polyurethane based sealants provide tighter seals and forms a flexible and elastomeric seam on curing. The UV resistant sealant provides excellent adhesion to most of the industrial materials. Waterborne polyurethane sealants are more suitable for various applications owing to the formation of durable waterproof seal on curing.
Waterborne polyurethane sealants are used in road repair, plumbing, and construction where a high-strength, water-resistant seal is needed. They provide high stress recovery to retain shape after being bent or deformed, fast curing rates, and even adherence to non-primed concrete. These end-uses of waterborne polyurethane sealants is driving market growth.
Waterborne polyurethanes reduce 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. The affordability and comfort of the materials have made WB polyurethane components part of building and construction globally.
APAC - Largest and Fastest-growing Market
APAC is projected to be the largest and fastest-growing market for waterborne polyurethanes. The rising population, increased demand for automobiles, growing disposable income, rapid industrialization, and increased urbanization are driving the APAC waterborne polyurethanes market.
China is the largest market for waterborne polyurethanes in the region. China is also a major producer and consumer of waterborne polyurethanes in the region as it has a huge manufacturing base. Apart from China, India and South Korea are projected to grow at a decent rate during the forecast period.
Source: Markets and Markets