The global Waterborne Polyurethane Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Application (Coating, Sealant, Adhesive, Elastomer, Others), By End-User (Building & construction, Automotive & transportation, Bedding & furniture, Electronics, Others).
Waterborne polyurethane (PU) dispersions to be favored for their exceptional durability, versatility, and environmental compatibility in coatings and adhesives applications in 2024. These dispersions are aqueous-based formulations containing polyurethane polymer particles dispersed in water, offering properties such as toughness, flexibility, chemical resistance, and adhesion to diverse substrates. Waterborne PU dispersions find applications in industries such as furniture, flooring, automotive, textiles, and packaging, where high-performance coatings and adhesives are required. In furniture manufacturing, waterborne PU coatings are used for wood finishes, upholstery fabrics, and decorative laminates, providing scratch resistance, UV protection, and aesthetic appeal with low VOC emissions. Similarly, in flooring applications, waterborne PU dispersions are employed for sealing, topcoating, and adhesive bonding in hardwood floors, vinyl flooring, and sports surfaces, offering durability and easy maintenance. Additionally, in automotive interiors, waterborne PU coatings and adhesives provide soft-touch finishes, moisture resistance, and bonding of trim components, contributing to interior comfort and aesthetics. With growing emphasis on sustainability, regulatory compliance, and consumer preferences for eco-friendly products, waterborne polyurethane dispersions to be a preferred choice for manufacturers seeking high-performance coatings and adhesives with reduced environmental impact and improved indoor air quality.
The market report analyses the leading companies in the industry including Aditya Birla Chemicals Ltd, Allnex Belgium SA, Axalta Coating Systems LLC, BASF SE, Bayer MaterialScience AG, C.L Hauthaway & Son Corp, Chemtura Corp, Covestro AG, Dow Inc, H.B. Fuller Company, Hauthaway Corp, Henkel AG & Co. KGaA, Huntsman Corp, Kamsons Chemicals Pvt. Ltd, Koninklijke DSM NV, Lamberti S.p.A., Lanxess AG, Nippon Polyurethane Industry Co. Ltd, Perstorp AB, PPG Industries Inc, R. STAHL GmbH, SNP Inc, Sun Polymers International Inc, The Lubrizol Corp, The Sherwin-Williams Company, Wanhua Chemical Group Co. Ltd, and others.
A significant market trend in the waterborne polyurethane industry is the growing preference for sustainable coating solutions. With increasing environmental awareness and regulations aimed at reducing volatile organic compound (VOC) emissions, there is a rising demand for coatings that offer lower environmental impact without compromising performance. This trend is driven by regulatory mandates, consumer demand for eco-friendly products, and corporate sustainability initiatives. Waterborne polyurethane coatings, which use water as a solvent instead of traditional solvents, are witnessing higher demand as they provide excellent durability, adhesion, and chemical resistance while emitting significantly lower levels of VOCs. As industries prioritize sustainability and seek to reduce their carbon footprint, the market for waterborne polyurethane coatings is experiencing growth and greater adoption as a preferred coating technology.
The driver behind the growth of the waterborne polyurethane market is regulatory compliance and VOC reduction targets. Governments worldwide impose strict limits on VOC emissions from industrial processes, including coating applications, to protect air quality and human health. Regulatory measures such as the Clean Air Act in the United States and the European Union's VOC Directive set maximum allowable VOC levels in coatings, driving the adoption of low-VOC or VOC-free alternatives. Waterborne polyurethane coatings offer a solution to meet regulatory requirements and reduce environmental impact, as they emit significantly lower levels of VOCs compared to solvent-based polyurethane coatings. As industries face pressure to comply with VOC reduction targets and reduce their environmental footprint, the demand for waterborne polyurethane coatings driven by regulatory compliance continues to rise, shaping the market towards greater adoption and innovation of environmentally friendly coating technologies.
An opportunity for growth and diversification in the waterborne polyurethane market lies in expansion into high-performance applications and specialty markets. While waterborne polyurethane coatings are commonly used in architectural paints, wood finishes, and automotive coatings, there is potential for penetration into new sectors with specialized requirements for coating performance and durability. In high-performance applications such as aerospace coatings, marine coatings, and industrial maintenance coatings, waterborne polyurethane formulations can offer advantages such as excellent adhesion, abrasion resistance, and weatherability while meeting stringent VOC regulations. Additionally, in specialty markets such as medical devices, electronic coatings, and sports equipment, there is growing demand for waterborne polyurethane coatings due to their versatility, flexibility, and biocompatibility. By targeting high-performance applications and specialty markets with tailored formulations and value-added services, waterborne polyurethane manufacturers can expand their market presence, address specific industry needs, and capitalize on opportunities for growth and market diversification beyond traditional applications.
The largest segment in the Waterborne Polyurethane Market by application is Coating. The large revenue share is attributed to the extensive use of waterborne polyurethane (PU) coatings in a wide range of industries, including automotive, construction, textiles, and furniture. Waterborne PU coatings are highly valued for their excellent properties such as abrasion resistance, flexibility, and durability, making them ideal for protecting and enhancing surfaces. The push towards eco-friendly and sustainable solutions has also contributed to the growth of this segment, as waterborne PU coatings have lower volatile organic compound (VOC) emissions compared to their solvent-based counterparts. This makes them more compliant with stringent environmental regulations and appealing to environmentally conscious consumers and industries. The versatility of waterborne PU coatings allows them to be used on various substrates, including wood, metal, plastic, and concrete, broadening their applicability and market reach. Technological advancements have further improved the performance and application properties of these coatings, driving their adoption in high-performance and decorative applications. As industries continue to prioritize sustainability and high-quality protective solutions, the demand for waterborne polyurethane coatings is expected to remain strong, solidifying this segment's position as the largest in the market.
The fastest-growing segment in the Waterborne Polyurethane Market by end-user is Automotive & Transportation. This rapid growth is driven by the automotive industry's increasing focus on sustainability and environmental regulations. Waterborne polyurethane (PU) products are favored in this sector due to their low volatile organic compound (VOC) emissions, which help manufacturers meet stringent environmental standards. These materials offer superior performance characteristics such as high abrasion resistance, flexibility, and excellent adhesion, making them ideal for various automotive applications, including coatings, adhesives, and sealants. The shift towards electric vehicles (EVs) is further boosting the demand for advanced materials that contribute to weight reduction and improved energy efficiency, areas where waterborne PUs excel. Additionally, the rising trend of vehicle customization and the need for durable and aesthetically pleasing interior and exterior components are driving the adoption of waterborne PU solutions. As the automotive and transportation industries continue to evolve and prioritize eco-friendly and high-performance materials, the demand for waterborne polyurethane products is expected to accelerate, making this segment the fastest-growing in the market.
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Aditya Birla Chemicals Ltd
Allnex Belgium SA
Axalta Coating Systems LLC
BASF SE
Bayer MaterialScience AG
C.L Hauthaway & Son Corp
Chemtura Corp
Covestro AG
Dow Inc
H.B. Fuller Company
Hauthaway Corp
Henkel AG & Co. KGaA
Huntsman Corp
Kamsons Chemicals Pvt. Ltd
Koninklijke DSM NV
Lamberti S.p.A.
Lanxess AG
Nippon Polyurethane Industry Co. Ltd
Perstorp AB
PPG Industries Inc
R. STAHL GmbH
SNP Inc
Sun Polymers International Inc
The Lubrizol Corp
The Sherwin-Williams Company
Wanhua Chemical Group Co. Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Waterborne Polyurethane Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Waterborne Polyurethane Market Size Outlook, $ Million, 2021 to 2032
3.2 Waterborne Polyurethane Market Outlook by Type, $ Million, 2021 to 2032
3.3 Waterborne Polyurethane Market Outlook by Product, $ Million, 2021 to 2032
3.4 Waterborne Polyurethane Market Outlook by Application, $ Million, 2021 to 2032
3.5 Waterborne Polyurethane Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Waterborne Polyurethane Industry
4.2 Key Market Trends in Waterborne Polyurethane Industry
4.3 Potential Opportunities in Waterborne Polyurethane Industry
4.4 Key Challenges in Waterborne Polyurethane Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Waterborne Polyurethane Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Waterborne Polyurethane Market Outlook by Segments
7.1 Waterborne Polyurethane Market Outlook by Segments, $ Million, 2021- 2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
8 North America Waterborne Polyurethane Market Analysis and Outlook To 2032
8.1 Introduction to North America Waterborne Polyurethane Markets in 2024
8.2 North America Waterborne Polyurethane Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Waterborne Polyurethane Market size Outlook by Segments, 2021-2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
9 Europe Waterborne Polyurethane Market Analysis and Outlook To 2032
9.1 Introduction to Europe Waterborne Polyurethane Markets in 2024
9.2 Europe Waterborne Polyurethane Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Waterborne Polyurethane Market Size Outlook by Segments, 2021-2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
10 Asia Pacific Waterborne Polyurethane Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Waterborne Polyurethane Markets in 2024
10.2 Asia Pacific Waterborne Polyurethane Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Waterborne Polyurethane Market size Outlook by Segments, 2021-2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
11 South America Waterborne Polyurethane Market Analysis and Outlook To 2032
11.1 Introduction to South America Waterborne Polyurethane Markets in 2024
11.2 South America Waterborne Polyurethane Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Waterborne Polyurethane Market size Outlook by Segments, 2021-2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
12 Middle East and Africa Waterborne Polyurethane Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Waterborne Polyurethane Markets in 2024
12.2 Middle East and Africa Waterborne Polyurethane Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Waterborne Polyurethane Market size Outlook by Segments, 2021-2032
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Aditya Birla Chemicals Ltd
Allnex Belgium SA
Axalta Coating Systems LLC
BASF SE
Bayer MaterialScience AG
C.L Hauthaway & Son Corp
Chemtura Corp
Covestro AG
Dow Inc
H.B. Fuller Company
Hauthaway Corp
Henkel AG & Co. KGaA
Huntsman Corp
Kamsons Chemicals Pvt. Ltd
Koninklijke DSM NV
Lamberti S.p.A.
Lanxess AG
Nippon Polyurethane Industry Co. Ltd
Perstorp AB
PPG Industries Inc
R. STAHL GmbH
SNP Inc
Sun Polymers International Inc
The Lubrizol Corp
The Sherwin-Williams Company
Wanhua Chemical Group Co. Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Application
Coating
Sealant
Adhesive
Elastomer
Others
By End-User
Building & construction
Automotive & transportation
Bedding & furniture
Electronics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Waterborne Polyurethane Market Size is valued at $2.1 Billion in 2024 and is forecast to register a growth rate (CAGR) of 5.5% to reach $3.2 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Aditya Birla Chemicals Ltd, Allnex Belgium SA, Axalta Coating Systems LLC, BASF SE, Bayer MaterialScience AG, C.L Hauthaway & Son Corp, Chemtura Corp, Covestro AG, Dow Inc, H.B. Fuller Company, Hauthaway Corp, Henkel AG & Co. KGaA, Huntsman Corp, Kamsons Chemicals Pvt. Ltd, Koninklijke DSM NV, Lamberti S.p.A., Lanxess AG, Nippon Polyurethane Industry Co. Ltd, Perstorp AB, PPG Industries Inc, R. STAHL GmbH, SNP Inc, Sun Polymers International Inc, The Lubrizol Corp, The Sherwin-Williams Company, Wanhua Chemical Group Co. Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume