The Global Polyurethane Market is valued at USD 58.90 Billion in 2021 and is expected to reach USD 86.19 Billion by 2028 with a CAGR of 5.59% over the forecast period.
Global Polyurethane Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Versatility & unique physical properties of polyurethane and increasing use of polyurethane in refrigeration applications are some of the major factors driving the growth of the Global Polyurethane market.
Polyurethane is plastic made by the reaction of a polyol with a diisocyanate or a polymeric isocyanate in the presence of appropriate catalysts and additives. It has some beneficial properties such as a wide range of hardness, flexibility, high load-bearing capacity, abrasion, impact resistance, tear resistance, the resistance of water, oil& grease, electric properties, strong bonding properties, mold, mildew & fungus resistance, colour ranges, economical manufacturing process, short production lead time. These polyurethanes are very soft and ductile then by using polyurethane the products of bedding, furniture, automotive, and transportation products, footwear making is very easy. Two types of polyurethane are available, polyester and polyether both polyester and polyether are elastomers mean they have elastic properties, abrasive resistance. They are better than rubber, having durability, load-bearing capacity, and excellent wear properties. A German chemist named Otto Bayer and his co-workers firstly introduced polyurethane in 1937.
Covid-19 has shown a negative impact on the growth of the global polyurethane market, due government restrictions, lockdown, travel restrictions, and shut down of factories. Also, building & construction were tarries during this pandemic which has affected the global polyurethane market. But the market of polyurethane is stepped forward because of its customizable insulator, it is very useful in Covid-19 for the transportation of vaccines.
The global Polyurethane market is segmented on the basis of material type, products, end-users and region & country level. Based on material type, the global polyurethane market is classified into Polyol, MDI, TDI, others. Based on product type, the polyurethane market is divided into flexible foam, rigid foam, coating, adhesive & sealant, elastomers, others. Based on end-users, the polyurethane market is divided into, building and constriction, bedding and furniture, automotive and transportation, footwear, appliances, and white goods, among others.
The regions covered in this global Polyurethane market report are North America, Europe, Asia-Pacific, and the Rest of the World. Based on a country level, the market of Global Polyurethane Market is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players in the Global Polyurethane Market are
On July 7th, 2021; With state-of-the-art production facilities in Europe and the Asia Pacific region, and innovative technology, Bostik, developed a new range of products meeting the requirements of both higher technical properties and sustainable performance such as low isocyanates and solvent-free formulations, bubble-free, and outstanding easiness to use for professional and occasional consumers.
December 7th, 2020; Sika, the world's biggest manufacturer of adhesives and sealants for the building sector and automotive industry, developed a new polyurethane technology, which it is launching onto the market under the Purform brand. The new polymers will first be integrated into Sika's top seller Sikaflex, as well as into liquid applied membranes. This innovation brought important benefits for customers: the products have an improved performance profile, are even more enduring, and have a strong sustainability profile. Investments in the associated production facilities were recently made at the Düdingen site.
Polyurethane has a wide application in the building and construction industry as polyurethane is flexible, excellent strength-to-weight ratio, insulation properties, durable, and versatile, good thermal/mechanical performance. Also, Polyurethane is environmentally friendly nature, so, there is wide use of the rigid & sprays polyurethane foam in building and construction application. In building and construction industry, the rigid polyurethane foams forms are used for panels, roof insulation, and gap fillers for the space around doors and windows. If properly insulated, the spray foam insulation can also protect against moisture. In this way, it reduces the chances of walls that are developing harmful molds, mildews, etc. In addition, it is often used to provide noise reduction for providing temperature and moisture control, insulation. For instance; According to the latest report the Facts 2017, which was published by Plastic Europe, the demand for plastic in Europe in 2016 was about 49.9 MTn, which was about 3.1% higher as regards to 2014. About 7.5% is polyurethane of this demand, which implied an annual demand of about 3.78 MTn in 2017. Out of this 3.78 MTn, almost 70% is in the form of foam i.e. about 1.40 MTn is of flexible foam & about 1.22 MTn is of rigid foam, and about 30% is that of polyurethane elastomers & other products. The sectors according to demand, are such as demand from construction & building is about 24.5%, from automotive sector is about 19.5%, from refrigeration sector is about 21.3% and other sectors within the textile industry, usage in technology, etc. i.e. about 34.7%. Thus, with the increasing demand of polyurethane in the building and construction industry is driving the market growth.
In addition, the increased use of polyurethane in the end-use industry is also fueling the growth of the polyurethane market. Polyurethane is a versatile material in which flexible foam is used in furniture, cushioning, etc and rigid foam is used in the automotive and transportation industry. There are some advantages of flexible foam use and that is more durable, comfortable, and supportive. Besides, different applications of polyurethane in the automotive and transportation industry, it is also easy to assemble, dissemble, and recycle. Comfort, safety, lightweight, and longevity coupled with design freedom are theists of polyurethane used in the automotive and construction industry. Thus, increased use of polyurethane in the end-use industry is anticipated to boost the overall polyurethane market.
However, exposure risk and environmental concerns, increasing demand for acid-epoxy coating may hinder the growth of the polyurethane market. Despite that, growing demand for low VOC, green & sustainable polyurethane, and expansion of polyurethane recycling & recovery may offer more opportunities for the further growth of the polyurethane market.
Geographically, Asia Pacific is expected to witness the fastest growth in the global polyurethane market due to an increase in demand for polyurethane for applications such as building and construction, automotive, bedding, and furniture, and transportation in this region. For instance; in May 2019, BASF and Shanghai Harvest Insulation Engineering Co. Ltd both combined developed polyurethane insulation. This polyurethane is majorly used for cryogenic and shipbuilding industries. It will have high insulation performance, stability, long-lasting properties, so in this region demand for polyurethane is increased.
Also, the North American region is expected to show significant growth in the global polyurethane market owing to its increasing demand for polyurethane for various industries and rising investment in this field in this region.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 58.90 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 86.19 Billion|
|Tables, Charts & Figures:||175|
|Polyurethane Manufacturers||Covestro AG, BASF SE, The Dow Chemical Company, Wanhua Chemical Group Co. Ltd., Huntsman Corporation, and others.|
|Segments Covered||By Raw Material Type, By Product Type, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us firstname.lastname@example.orgJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
124, City Road, London EC1V 2NX
© Copyright 2023-24 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®