세계의 수성 폴리우레탄 분산액 시장 예측(-2032년) : 유형, 배합, 기술, 용도, 최종사용자, 지역별 분석

According to Stratistics MRC, the Global Aqueous Polyurethane Dispersion Market is accounted for $6.60 billion in 2025 and is expected to reach $11.91 billion by 2032 growing at a CAGR of 8.8% during the forecast period. Aqueous Polyurethane Dispersion (PUD) is a water-based polyurethane system in which polymer particles are evenly dispersed in water instead of traditional solvents. These dispersions are valued for being eco-friendly with minimal volatile organic compound (VOC) emissions. Offering strong adhesion, flexibility, resistance to chemicals, and long-lasting performance, they find applications in coatings, sealants, textiles, and adhesives. Their adoption is rising as industries prioritize sustainability, regulatory compliance, and high-performance environmentally safe alternatives.

Market Dynamics:

Driver:

Rising demand for eco-friendly and low-VOC coating solutions

As environmental regulations tighten globally, industries are shifting toward sustainable alternatives in coatings and adhesives. Aqueous polyurethane dispersions (PUDs) offer low-VOC profiles, making them ideal for compliance with green building standards and consumer safety expectations. Manufacturers across automotive, textile, and construction sectors are increasingly replacing solvent-based systems with waterborne PUDs. This transition is driven by the need to reduce emissions, improve indoor air quality, and meet eco-label certifications. The versatility of PUDs in applications such as wood finishes, leather treatments, and packaging coatings further amplifies their appeal. As sustainability becomes a core procurement criterion, demand for eco-friendly PUDs continues to accelerate across global markets.

Restraint:

Limited performance in extreme conditions

Exposure to high humidity, UV radiation, or extreme temperatures can compromise adhesion, flexibility, and long-term stability. This limits their adoption in outdoor applications or industrial environments requiring high-performance coatings. Manufacturers must invest in specialized additives or hybrid formulations to overcome these limitations, which can increase production complexity and cost. In sectors like aerospace or marine, where performance thresholds are stringent, PUDs may be deemed unsuitable without significant modification. These constraints hinder broader market penetration and slow uptake in demanding end-use segments.

Opportunity:

Advancements in PUD formulations

Ongoing R&D efforts are unlocking new possibilities in aqueous PUD chemistry, enhancing mechanical strength, water resistance, and UV durability. Innovations in resin design and crosslinking technologies are enabling PUDs to perform comparably to traditional systems while maintaining eco-friendly attributes. Bio-based feedstocks and renewable raw materials are being incorporated to further reduce environmental impact. Smart coatings with self-healing, antimicrobial, or responsive properties are emerging as niche growth areas. Integration with digital platforms allows for real-time monitoring of coating performance, supporting predictive maintenance and quality assurance. These advancements open doors to premium applications in electronics, medical devices, and high-end consumer goods.

Threat:

Technological barriers in scaling advanced formulations

Complex synthesis routes, specialized equipment, and stringent quality control requirements can deter smaller manufacturers. Inconsistent raw material availability and high formulation costs may limit commercial viability, especially in price-sensitive markets. Intellectual property constraints and patent protections can restrict access to cutting-edge technologies. Regulatory approval processes for novel chemistries can be lengthy and resource-intensive. These barriers risk slowing innovation diffusion and concentrating market power among a few dominant players, reducing competitive diversity.

Covid-19 Impact

The pandemic disrupted global supply chains, leading to challenges in raw material sourcing and delays in production schedules for aqueous PUDs. Lockdowns and labor shortages led to reduced output across manufacturing facilities, impacting delivery timelines and customer commitments. However, the crisis also accelerated demand for hygienic, low-emission coatings in healthcare, packaging, and residential sectors. Remote work and e-commerce growth boosted demand for coated furniture, electronics, and packaging, indirectly supporting PUD adoption. As industries rebuild with a focus on resilience and sustainability, aqueous PUDs are well-positioned to play a pivotal role in post-pandemic recovery.

The ionicsegment is expected to be the largest during the forecast period

The ionic segment is expected to account for the largest market share during the forecast period, due to growing interest in sustainable coatings. Advanced anionic and cationic technologies improve dispersion and film properties, while recent innovations include solvent-free systems and ionic liquid-enhanced PUDs with added conductivity and flame-retardant features. Emerging applications span smart surfaces, bio-based materials, and flexible electronics. Upgrades in dispersion methods and chain extenders also support high-viscosity processing, broadening use across sectors like automotive, textiles, and green construction.

The automotive & transportation segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the automotive & transportation segment is predicted to witness the highest growth rate, due tothe push for lightweight, low-emission, and high-performance coatings. Technological advancements like UV-resistant and abrasion-proof dispersions improve longevity for vehicle interiors and exteriors. Recent breakthroughs include hybrid and solvent-free PUDs that comply with strict environmental standards. Emerging trends highlight the rise of electric vehicles, smart cabin materials, and eco-conscious production, with bio-based dispersions and waterborne adhesives gaining traction across both OEM and aftermarket segments.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market sharedue torapid urban growth, stricter environmental standards, and rising demand in sectors like automotive, textiles, and construction. Innovations in two-pack and urethane-enhanced PUDs are improving performance and sustainability. Notable trends include bio-based solutions, waterborne coatings, and low-emission adhesives. Key developments feature expanded production facilities in India and China, increased R&D activity, and growing alignment with green building norms and circular economy principles.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to increasing demand for sustainable, low-VOC coatings across sectors like automotive, construction, and textiles. Innovations in polymer technology are enhancing product performanceespecially in durability, flexibility, and UV resistance. Notable trends include the integration of bio-based inputs and nanotech-enhanced formulations. Recent developments feature expanded applications in adhesives, sealants, and medical coatings, supported by robust R&D efforts aimed at creating high-performance, waterborne solutions aligned with environmental regulations and industry needs.

Key players in the market

Some of the key players profiled in the Aqueous Polyurethane Dispersion Market include Covestro AG, DIC Corporation, BASF SE, Perstorp Holding AB, Huntsman Corporation, Chase Corporation, DSM-Firmenich, Reichhold LLC, Mitsui Chemicals, Synthomerplc, Lubrizol Corporation, LANXESS AG, Wanhua Chemical Group, AlberdingkBoley GmbH, and Allnex.

Key Developments:

In August 2025, Covestro has signed an agreement with Vencorex Holding SAS, a subsidiary of Thai chemical company PTT Global Chemical Public Company Limited, to acquire two legal entities with stand-alone production sites for HDI (Hexamethylene Diisocyanate) derivates in Rayong, Thailand and Freeport, USA. The legal entities and sites were formerly part of the French aliphatics specialist Vencorex.

In March 2025, Perstorp launches the Neptem(TM) range for alkyds, a portfolio of emulsifier solutions enabling the next generation of high-performance, low-VOC waterborne alkyds. Backed by Perstorp's extensive technical expertise and customer support to facilitate a smooth transition.

Types Covered:

• Ionic
• Cationic
• Non-ionic
• Modified PUDs
• Amphoteric

Formulations Covered:

• High Durability Grades
• Flexible / Elastomeric Grades
• UV-Curable PUDs
• High Solids / Low VOC
• Functionalized Grades

Technologies Covered:

• Acrylic-Based Dispersions
• Polycarbonate-Based Dispersions
• Polyester-Based Dispersions
• Polyether-Based Dispersions
• Hybrid Systems

Applications Covered:

• Coatings
• Adhesives & Sealants
• Textile & Leather Finishes
• Inks
• Fibers& Nonwovens
• Biomedical & Specialty Films
• Other Applications

End Users Covered:

• Construction & Building
• Automotive & Transportation
• Healthcare & Medical Devices
• Furniture & Woodworking
• Textile & Apparel
• Footwear & Leather Goods
• Packaging
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 Application Analysis
• 3.8 End User Analysis
• 3.9 Emerging Markets
• 3.10 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Aqueous Polyurethane Dispersion Market, By Type

• 5.1 Introduction
• 5.2 Ionic
• 5.3 Cationic
• 5.4 Non-ionic
• 5.5 Modified PUDs
• 5.6 Amphoteric

6 Global Aqueous Polyurethane Dispersion Market, By Formulation

• 6.1 Introduction
• 6.2 High Durability Grades
• 6.3 Flexible / Elastomeric Grades
• 6.4 UV-Curable PUDs
• 6.5 High Solids / Low VOC
• 6.6 Functionalized Grades

7 Global Aqueous Polyurethane Dispersion Market, By Technology

• 7.1 Introduction
• 7.2 Acrylic-Based Dispersions
• 7.3 Polycarbonate-Based Dispersions
• 7.4 Polyester-Based Dispersions
• 7.5 Polyether-Based Dispersions
• 7.6 Hybrid Systems

8 Global Aqueous Polyurethane Dispersion Market, By Application

• 8.1 Introduction
• 8.2 Coatings
• 8.3 Adhesives & Sealants
• 8.4 Textile & Leather Finishes
• 8.5 Inks
• 8.6 Fibers & Nonwovens
• 8.7 Biomedical & Specialty Films
• 8.8 Other Applications

9 Global Aqueous Polyurethane Dispersion Market, By End User

• 9.1 Introduction
• 9.2 Construction & Building
• 9.3 Automotive & Transportation
• 9.4 Healthcare & Medical Devices
• 9.5 Furniture & Woodworking
• 9.6 Textile & Apparel
• 9.7 Footwear & Leather Goods
• 9.8 Packaging
• 9.9 Other End Users

10 Global Aqueous Polyurethane Dispersion Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Covestro AG
• 12.2 DIC Corporation
• 12.3 BASF SE
• 12.4 Perstorp Holding AB
• 12.5 Huntsman Corporation
• 12.6 Chase Corporation
• 12.7 DSM-Firmenich
• 12.8 Reichhold LLC
• 12.9 Mitsui Chemicals
• 12.10 Synthomer plc
• 12.11 Lubrizol Corporation
• 12.12 LANXESS AG
• 12.13 Wanhua Chemical Group
• 12.14 Alberdingk Boley GmbH
• 12.15 Allnex