Japan Aqueous Polyurethane Dispersion Market To Reach $12.75 Billion By 2030

Japan Aqueous Polyurethane Dispersion Market Growth & Trends

The  Japan aqueous polyurethane dispersion market size is anticipated to reach USD 12.75 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.0% from 2024 to 2030. 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 are 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 physicochemical properties.

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Japan Aqueous Polyurethane Dispersion Market Report Highlights

• Two-component polyurethane dominated the market and accounted for a share of 43.9% in 2023. The two-component PUD system offers a customizable and precise curing process, enabling manufacturers to tailor the dispersions for specific applications. 

• Water-based paints accounted for the largest market revenue share of 36.6% in 2023. Water-based paints with PUD offer a sustainable solution, boasting low VOC emissions, fast drying, and excellent color retention. 

• Polyurethane dispersion (PUD) leather finishing agents is projected to grow at the fastest CAGR of 6.9% over the forecast period.

Japan Aqueous Polyurethane Dispersion Market Segmentation

Grand View Research has segmented the Japan aqueous polyurethane dispersion market report based on product, and application:

Japan Aqueous Polyurethane Dispersion Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Component Polyurethane

• Two-component Polyurethane

• Urethane-modified

Japan Aqueous Polyurethane Dispersion Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• PUD Leather Finishing Agents

• PUD Coating Agents

• PUD Water-based Glue

• Waterborne Wood Coatings

• Water-based Paints

• Others

List Of Key Players in the Japan Aqueous Polyurethane Dispersion Market

• BASF

• The Lubrizol Corporation

• Mitsui Chemicals, Inc.

• Evonik Industries AG

• DIC Corporation

• LANXESS

• Covestro AG

• UBE Corporation

• FUJI CHEMI TRADING CO., LTD.

• Kadotoku Corporation Co., Ltd.