LONDON , Sept. 6, 2022 /PRNewswire / -- The Polyurethane Market is valued at USD 58.90 Billion in 2021 and is expected to reach USD 86.19 Billion by 2028 with a Compound Annual Growth Rate (CAGR) of 5.59% over the forecast period.
Polyurethane Market Size, Share & Trends Analysis Report By Raw Material Type (Polyol, MD, TDI, Others) By Product Type (Flexible Foam, Rigid Foam, Coating, Adhesive And Sealants, Elastomers, Others) By End-User (Building And Construction, Automotive And Transportation, Bedding And Furniture, Footwear, Appliances, And White Goods, Others) Based On Region, And Segment Forecasts, 2022 - 2028
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.
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Polyurethane Market: Market Scope
The global polyurethane market is going to be seeing a consistent growth in the coming years as there is an increase in the demand for the building insulation in light of the sustainability concerns and is expected to the escalation of the demand for the polyurethane during the coming years. Sustainability when it comes to building developments is a huge field and also encompasses many steps which must be implemented in the stages of primary construction since their potential environmental impact is very significant.
Some of the major polyurethane companies 2021 are Dow Inc, The Lubrizol Corporation, Covestro AG., BASF SE, Eastman Chemical Company, Huntsman International LLC, Mitsubishi Chemical Corporation, Mitsui & Co., Plastics Ltd., Woodbridge, DIC Corporation, Recticel NV/SA, Tosoh Corporation, RTP Company, and RAMPF Holding GmbH & Co. KG. The global polyurethane key players are focusing on the mergers and acquisitions where they can share the information and create a certain amount of growth in the coming years.
Wanhua Chemical Group Co. Ltd.
Polyurethane Market: Key Drivers
Polyurethane growth drivers include the growth of the concept of green buildings. The green buildings are entering the construction market due to the increase in investments in the smart energy-efficient as well as residential and commercial buildings. These buildings do not just offer the profitable opportunities, but they are also acceptable by the federal and environmental regulations when they provide a meaningful response for the consumer expectations which are growing for the sustainability. There is an increase in the effectiveness in building materials has been generating a higher demand for the efficient insulating materials for regulating the heating, air conditioning and ventilation and counteracting the amount of energy that is lost due to the inefficient insulation. The polyurethane foams have been subsequently being utilized as the extremely efficient insulation materials, leading to the greater savings of energy.
News: Bostik Announced the Launch of its New Polyurethane Sealants Line for the Sealing & Bonding Construction Markets
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.
SIKA Launched its New Purform Polyurethane Technology and Invested in Production Facilities in Düdingen
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.
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Polyurethane Market: Key Trends
Polyurethane trends suggests that there is a rise in the demand product from the construction, automotive as well as packaging sectors in the United States is going to drive the market in the coming years. The construction sector in the United States is expanding at a huge rate due to the positive fundamentals of the market for commercial real estate, along with the rise in the state and federal funding for the public works and institutional buildings. Furthermore, the ongoing construction projects in many countries are going to fuel the demand for the construction applications for the polyurethane in the years to come.
Moreover, there are investments which are announced by many different governments in the last few years as a response to the covid pandemic for the development of the infrastructure which includes the hospitals, roads, buildings as well as the infrastructure which is expected to foster the market growth in the coming years. Though, there is a factor which is going to hamper this market growth with the environmental concerns growing at a higher rate. There are developed countries which have reduced the carbon emissions over the last few years due to the major regulations for the environmental concerns.
The raw materials have also been associated with the polyurethane production like the MDI and TDI have been deemed to be hazardous to the environment because of the industrial release of the TDI that is going to pollute the air. Environment organizations has also concluded that the TDI levels are hazardous to the health of humans. For ensuring the sound of the environmental management of the TDI releases, Environment Canada has been for instance publishing a P2 planning notice. Moreover, the landfills in Europe , particularly for the waste tires and PU products have been banned for exploiting this vast potential for the PU as the source of energy similar ot the coal while also preventing the environmental protection.
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Polyurethane Market: Segmentation Analysis
In terms of segmentation, the rigid foam segment has been leading in this market and has accounted for a one third market in the global revenue. The rigid foams are high performance closed-cell plastics utilized in the end-use industries like transportation, industrial and packaging, insulations as well as appliances, owing to the structural stability that assists the manufacturers for designing the thermally insulating products. The rigid foams possess sound properties of insulation, higher mechanical strength as well as thermal resistance making them very suitable for the extreme weather conditions along with harsh environments.
The segment of the construction application has been leading the market and accounting for the highest share in the revenue all over the world. The demand for the polyurethane in the construction applications is expected to witness a significant growth over coming years for various beneficial characteristics of the polyurethane foam including excellent insulation, lightness, bacterial and pest resistance and chemical inertness. The growth in urbanization as well as industrialization particularly in the emerging economies like India and China , rising infrastructure development in the Middle East have been expected to fuel the growth of this construction industry and in turn creating a demand for the polyurethane foam as well as insulation.
Polyurethane Market: Regional Analysis
Polyurethane statistics suggests that the Asia Pacific has been dominating the market and accounting for a major share of the global revenue. This market is driving by the growth of a huge end-use industries such as the electronics, automotive as well as appliances, furniture and interiors, packaging and construction. The Asia Pacific region has been characterized by a huge amount of skilled labour at a lower cost along with the land being easily available. A shift in the landscape towards emerging economies in China and India is going to influence the market positively in the coming years. This is a region which is home to many different rapidly expanding industries such as automotive, construction and electronics which offer the lucrative growth opportunities to the polyurethane manufacturers. Increase in construction activities is going to see a growth too in the coming years causing a growth in this market.
On Special Requirement Polyurethane Market Report is also available for below region:
Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
Saudi Arabia , UAE, Egypt, South Africa, Rest of MEA
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