International. The water-based polyurethane (WPU) market is projected to grow from $6.5 billion in 2014 to approximately $10 billion in 2019, at a CAGR of 9.0%, between 2014 and 2019.
According to the Markets & Markets study, coatings 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 market. This segment is also forecast to be the largest in the entire projection year through 2019. The growth of coating application is expected to be driven by the increased use of WPU-based coating in end-use industries such as automotive and construction.
Europe is the largest consumer of WPU globally, accounting for more than 35% of the share in the global water-based polyurethane market in 2014 and is projected to grow at a CAGR well above the global average.
The WPU market is segmented into four major application segments; which are coating, sealant, adhesive and elastomer. The demand for WPU in sealant application is expected to be the fastest among all applications; Europe is estimated to be the largest region for the sealant application segment in 2014.
