Europe Polyurethane Dispersions Market – An Overview
Demand for polyurethane dispersions is growing and as per Transparency Market Research the growth curve in the Europe region will be sturdy. It is significant to note here that in the Europe Polyurethane dispersions market, numerous factors will support this growth such as production of modern cars and growing demand for adhesives and sealants. This will therefore create a number of growth opportunities for companies operating in the market.
Some of the notable developments in the Europe Polyurethane Dispersions Market are mentioned below. These are creating the future of the market in a major way. A glimpse into trends and drivers is also provided below so a better understanding of market dynamics is grasped.
- One such notable development in the market happened in 2023 itself when BASF – a Germany-based company invested in expansion of its business of the product under the lens – polyurethane dispersion – in Europe. The increase is of the magnitude of 30% and will help higher production of water-based dispersions in Spain. This is set to intensify competition in the market.
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- Automotive and industrial coating will also generate demand for polyurethane dispersions market over the forecast period. New opportunities will arise here. To plug demand –supply gaps, players in the European region plan to work on supply chains – improve them to make them robust. Additionally, like mention in the point above, product enhancement is also set to be a significant growth strategy.
- Trend-wise, development and use of water-base polyurethane dispersions will be noted in the European market owing to factors such as growing awareness regarding the eco-friendly nature of solvent-based systems. As consumers become more aware of choices and their impact on the planet, demand for greener products is on an upwards growth curve. This will also drive the Europe Polyurethane dispersions market.
Manufacturers Bolster Credibility by Introducing Environment-friendly Water-based Systems
Rapid production of modern cars has created a demand for a mixture of materials. Apart from steel and aluminum, carmakers are harnessing the advantages of plastic materials. Likewise, 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, leading German chemical company BASF SE — announced to invest in the capacity expansion of water-based polyurethane dispersions (PUDs) at its production facility in Castellbisbal, Spain.
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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 and the Europe polyurethane dispersions market is expected to reach a value of ~US$ 7 Bn by the end of 2030. 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 and coatings to support the preference from solvent-based coating systems to more environmental-friendly water-based systems.
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Waterborne Polyurethane Coatings Acquire Prominence in Wood Flooring Applications
The demand for wood flooring coatings is estimated to progress at a steady rate. Likewise, one-component (1K) solventborne and two-component (2K) waterborne (WB) polyurethane (PUR) coatings are gaining prominence in residential and commercial sectors. The ever-growing construction sector is another key driver that is contributing toward the growth of the Europe polyurethane dispersions market. As such, water-based systems are being pervasively used in new unfinished wood floor installations as well as for the restoration of existing wood floors in construction. This is evident since water-based type segment is anticipated for exponential growth in the market for polyurethane dispersions in Europe.
Polyurethane-coated floors are being highly publicized, owing to their excellent durability and desirable aesthetic looks. Due to strict environmental regulations, manufacturers in the market for polyurethane dispersions in Europe are increasing their production capacities to develop low-VOC (Volatile Organic Compound) and low-odor coatings. Hence, manufacturers in the Europe polyurethane dispersions market are increasing the availability of high-performance waterborne polyurethane coatings.
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