The Global Aqueous Polyurethane Resin Market was valued at USD 1.87 Billion in 2024 and is projected to reach USD 2.20 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.4% during the forecast period (2025–2032). This growth is being driven by stringent environmental regulations limiting VOC emissions, increasing demand for eco-friendly coatings, and the accelerating adoption of sustainable water-based solutions across the automotive, construction, and furniture sectors.

As the chemical industry transforms toward greener manufacturing and sustainable product innovation, the spotlight is on the key resin producers driving the shift from solvent-based to water-based technologies. In this blog, we profile the Top 10 Companies in the Aqueous Polyurethane Resin Industry—a mix of chemical giants, specialty manufacturers, and regional leaders shaping the future of sustainable coatings and adhesives.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Acronal®, Basonat®, JONCRYL® waterborne polyurethane dispersions

BASF is a global leader in aqueous polyurethane resins, offering a comprehensive portfolio of high-performance waterborne solutions. Their products are designed for applications ranging from automotive coatings and wood finishes to industrial adhesives, providing excellent durability and low environmental impact. BASF’s strong R&D focus has enabled them to develop advanced formulations that meet the most demanding performance specifications.

Sustainability Initiatives:

• Committed to carbon neutrality by 2050

• Investing €4 billion in CO2 reduction technologies by 2030

• Over 50% of R&D projects dedicated to sustainability

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Aqueous Polyurethane Resin Market – View in Detailed Research Report

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9️⃣ 2. Bayer AG (Covestro)

Headquarters: Leverkusen, Germany
Key Offering: Bayhydrol®, Bayhydur®, Dispercoll® aqueous polyurethane systems

Bayer, through its Covestro subsidiary, is a pioneer in polyurethane chemistry with extensive expertise in aqueous dispersions. The company offers innovative solutions for coatings, adhesives, and sealants that combine high performance with environmental benefits. Their products are widely used in automotive OEM, textile coatings, and flexible packaging applications.

Sustainability Initiatives:

• Targeting climate-neutral production by 2035

• Developing bio-based raw materials for polyurethane production

• Circular economy approach with recycling initiatives

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8️⃣ 3. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: PUre™, VORANOL™, SPECFLEX™ aqueous polyurethanes

Dow is a major player in the aqueous polyurethane resin market with a strong focus on sustainable solutions. Their waterborne polyurethane dispersions offer excellent mechanical properties and chemical resistance while maintaining low VOC content. Dow serves diverse industries including construction, transportation, and consumer goods with innovative coating and adhesive solutions.

Sustainability Initiatives:

• Committing to reduce net annual carbon emissions by 5 million metric tons by 2030

• $100 million investment in circular economy projects

• Partnerships for plastic waste reduction and recycling

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7️⃣ 4. LANXESS AG

Headquarters: Cologne, Germany
Key Offering: Adiprene®, Vibrathane®, Isocyanate-based aqueous systems

LANXESS specializes in high-performance polyurethanes with a growing portfolio of water-based solutions. The company focuses on technical applications requiring superior mechanical properties and durability. Their aqueous polyurethane resins are particularly strong in the automotive, construction, and industrial coating segments.

Sustainability Initiatives:

• Aiming for climate neutrality by 2040

• Development of bio-based and recycled raw materials

• Energy efficiency improvements across manufacturing facilities

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6️⃣ 5. Mitsui Chemicals, Inc.

Headquarters: Tokyo, Japan
Key Offering: TAKELAC®, TAKENATE® aqueous polyurethane systems

Mitsui Chemicals is a leading Asian producer of aqueous polyurethane resins with strong market presence in the Asia-Pacific region. The company offers comprehensive solutions for synthetic leather, adhesives, and coatings applications. Their focus on technological innovation has enabled them to develop products with enhanced performance characteristics and environmental benefits.

Sustainability Initiatives:

• Targeting 30% reduction in greenhouse gas emissions by 2030

• Development of biomass-derived polyurethane materials

• Promotion of chemical recycling technologies

Download FREE Sample Report:
Aqueous Polyurethane Resin Market – View in Detailed Research Report

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5️⃣ 6. Wanhua Chemical Group Co., Ltd.

Headquarters: Yantai, Shandong, China
Key Offering: WANNATE®, Wanathane® aqueous polyurethane dispersions

Wanhua Chemical is China’s largest polyurethane producer and a rapidly growing global player in aqueous resins. The company leverages vertical integration and scale advantages to offer competitive, high-quality waterborne solutions. Their extensive product range serves applications from footwear and textiles to automotive and construction coatings.

Sustainability Initiatives:

• Investment in green manufacturing technologies

• Development of low-carbon footprint polyurethane products

• Expansion of water-based production capacity to replace solvent-based systems

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4️⃣ 7. Lubrizol Corporation

Headquarters: Wickliffe, Ohio, USA
Key Offering: Avalure®, ISOCURE®, Sancure® aqueous polyurethanes

Lubrizol specializes in specialty chemicals with a strong focus on aqueous polyurethane technologies. Their products are known for excellent film formation, adhesion, and durability characteristics. The company serves diverse markets including coatings, adhesives, textiles, and personal care with innovative water-based solutions.

Sustainability Initiatives:

• Commitment to sustainable product innovation

• Development of bio-based and renewable raw material options

• Focus on products that enable customer sustainability goals

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3️⃣ 8. DSM NV

Headquarters: Heerlen, Netherlands
Key Offering: URALAC®, NEOCRYL®, ECO-friendly aqueous systems

DSM is a global science-based company active in health, nutrition, and sustainable living. Their coatings and resin business offers innovative aqueous polyurethane solutions with strong focus on sustainability. DSM’s products are widely used in industrial coatings, can coatings, and consumer electronics applications.

Sustainability Initiatives:

• Aiming for 100% renewable electricity by 2030

• Development of fully bio-based coating resins

• Partnerships for circular economy initiatives

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2️⃣ 9. Stahl Holdings B.V.

Headquarters: Waalwijk, Netherlands
Key Offering: Stahl EVO®, Stahl Essential®, water-based PU coatings

Stahl is a specialty chemical company focused on coatings and treatments for flexible substrates. Their aqueous polyurethane resins are primarily used in leather finishing, synthetic leather, and textile coatings. The company has built a strong reputation for developing environmentally friendly coating solutions that maintain high performance standards.

Sustainability Initiatives:

• Targeting 100% of products to have Sustainability Improvement Profiles by 2025

• Development of PVC-free and chrome-free coating systems

• Focus on water and energy reduction in manufacturing processes

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1️⃣ 10. Alberdingk Boley GmbH

Headquarters: Krefeld, Germany
Key Offering: Alberdingk® aqueous polyurethane dispersions

Alberdingk Boley is a specialty manufacturer of aqueous polymer dispersions with strong expertise in polyurethane chemistry. The company focuses on high-quality, customized solutions for specific application requirements. Their products are used in wood coatings, industrial coatings, adhesives, and construction applications where performance and sustainability are critical.

Sustainability Initiatives:

• Development of solvent-free and low-VOC systems

• Focus on renewable raw materials and bio-based content

• Energy-efficient manufacturing processes

Get Full Report Here:
Aqueous Polyurethane Resin Market – View in Detailed Research Report

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🌍 Outlook: The Future of Aqueous Polyurethane Resins is Sustainable and High-Performance

The aqueous polyurethane resin market is undergoing a significant transformation. While traditional solvent-based systems still dominate certain applications, the industry is rapidly shifting toward water-based alternatives, bio-based technologies, and circular economy principles that reduce environmental impact while maintaining performance.

📈 Key Trends Shaping the Market:

• Stringent VOC regulations driving adoption in Europe and North America

• Growing demand for bio-based and renewable raw materials

• Technological advancements improving performance parity with solvent-based systems

• Expanding applications in electric vehicles and sustainable packaging

Get Full Report Here:
Aqueous Polyurethane Resin Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials for modern manufacturing—they’re driving the sustainable transformation of the coatings and adhesives industry toward a greener future.