Waterborne polyurethane (WPU) market has been growing rapidly since the past decade. The increased popularity of WPU based products due to their environmentally-friendly properties is a major factor responsible for The increased consumption of WPU in various end-use industries. The WPU is used to manufacture various products which can be categorized broadly into four major applications, that is coating, sealant, adhesive, and elastomers.
The WPU market is segmented by application and region. The market size of each region such as Europe, Asia-Pacific, North America, and Rest of the World (RoW) is projected in the report. The key countries such as U.S., China, Germany and Japan are covered and their market size is forecasted along with their growth rates.
Coating: Largest Segment, By Application
Coating is estimated to be the largest segment, both in terms of value as well as volume, in 2014 with a share of more than 30.0% in the total WPU market. Coating is also projected to be the largest segment throughout the projection year till 2019. The growth in coating application is expected to be driven by the increased use of WPU-based coating in end-use industries such as automotive and building & construction.
Europe: Largest Consumer
Europe is the largest consumer of WPU globally, accounting for more than 35.0% share in the global waterborne polyurethane market in 2014 and is projected to grow at a CAGR well above the global average.
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WPU Market
The WPU market is segmented into four major application segments; they are coating, sealant, adhesive, and elastomer. The demand for WPU in sealant application is expected to be the fastest among all the applications; Europe is estimated to be the largest region for sealant application segment in 2014.
Leading companies such as Bayer MaterialScience LLC (Germany), Axalta Coating Systems (U.S.), BASF S.E. (Germany), the 3M Company (U.S.) and PPG Industries Inc. (U.S.) are focusing on the development of new WPU products through research and innovation, to expand their customer base and application areas.
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