The paste composition of the present invention is a paste composition comprising (i) a polyurethane resin which comprises (a) a recurring unit represented by the formula (1) and (b) a recurring unit represented by the formula (2), a molar fraction of said recurring unit (a) being in the range of 0.35 to 0.99, a molar fraction of said recurring unit (b) being in the range of 0.01 to 0.65, the total of both the molar fractions being 1, (ii) a solvent and (iii) a powder. By the use of the paste composition, dielectric layers, sealing products, barrier ribs, phosphors, etc. can be favorably formed.