The Japan aqueous polyurethane dispersion (PUD) market size is projected to reach USD 160.9 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.7% during the forecast period. Surging demand from end-use industries such as paints & coatings and leather is estimated to help the market gain significant momentum over the coming years.
Favorable environmental regulations are expected to help play an important role in triggering the demand for aqueous PUD. However, volatile raw material prices are anticipated to limit the market from realizing its utmost potential. Strong presence of global suppliers is likely to ensure regular raw material flow to aqueous PUD manufacturers.
There has been a steady shift from solvent-based polyurethane (PU) systems to aqueous polyurethane dispersions (PUD) in various applications over the past few years. Key drivers influencing this shift are governmental regulations requiring manufacturers to lower total volatile organic compounds (VOCs) and soaring need to lower system costs. Flexible polymer design of the product makes them ideal for use in several diverse applications, thereby supporting the growth of the market.
Aqueous PU dispersions can be formulated into adhesives and coatings containing little to no co-solvent, and hence are nonflammable, nontoxic, and do not pollute the environment. Such environmental advantages, coupled with increasing solvent price and quality of raw materials, are augmenting their application in adhesives, fiber sizing, and textile coatings for a variety of polymeric materials and glass surfaces.
Booming luxury leather goods, coatings, and adhesives segment in Japan is stimulating the use of aqueous polyurethane dispersion. There are multiple global companies established in Japan that are working to innovate coating composites based on aqueous polyurethane dispersions. The current technology of coating agents comprises of high-performance polyurethane dispersions, which possess particular physico-chemical properties.
Full Research Report On Japan aqueous polyurethane dispersion (PUD) market Analysis:
Further key findings from the report suggest:
The two-component polyurethane segment is poised to reach USD 71.0 million by 2025, expanding at a CAGR of 4.0% from 2017 to 2025
In terms of revenue, the water-based paints segment is projected to exhibit a CAGR of 3.3% over the forecast period, since they are increasingly being preferred over solvent-based paints
The revenue for component polyurethane is estimated to reach USD 53.0 million by 2025, rising at a CAGR of 2.8% from 2017 to 2025
Leather finishing agents application is expected to be the fastest-growing segment in terms of revenue, owing to their increased application scope in the adhesives industry
Some of the key companies present in the market are Covestro, Royal DSM, UBE Industries Ltd, Stahl, Chemtura Corporation, and Lubrizol Corporation. Players in the market are pouring hefty funds into product portfolio expansion in order stay ahead in the competition.
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Grand View Research has segmented the Japan aqueous polyurethane dispersion (PUD) market on the basis of product and application.
Japan Aqueous Polyurethane Dispersion (PUD) Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Japan Aqueous Polyurethane Dispersion (PUD) Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
PUD Leather Finishing Agents
PUD Coating Agents
PUD Water-based Glue
Waterborne Wood Coatings
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