PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463072
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463072
Asia Pacific Polyurethane Market Share, Size, Trends, Industry Analysis Report, By Product (Rigid PU Foam, Flexible PU Foam, PU Coatings, PU Adhesives & Sealants, PU Elastomers); By Application; By Country; Segment Forecast, 2024 - 2032
The Asia Pacific polyurethane market size is expected to reach USD 59.45 Billion by 2032, according to a new study by Polaris Market Research. The report "Asia Pacific Polyurethane Market Share, Size, Trends, Industry Analysis Report, By Product (Rigid PU Foam, Flexible PU Foam, PU Coatings, PU Adhesives & Sealants, PU Elastomers); By Application; By Country; Segment Forecast, 2024- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for polyurethane in the Asia Pacific region is substantial and dominates the global market. This is due to the increasing need for rigid PU foam, flexible PU foam, and PU adhesives and sealants, especially in countries such as India, China, Japan, Australia, and Indonesia. The polyurethane market in this region is further driven by the growth of the construction sector in the region has led to a high demand for insulation materials, adhesives, and sealants made from polyurethane. Additionally, the automotive industry in the Asia Pacific region is a significant consumer of polyurethane products, especially in car seats, dashboards, and other interior components. The increase in vehicle production and sales in countries like India, China, and Thailand has further boosted the demand for polyurethane.
However, the profitability of manufacturers is affected by the volatility of raw material prices, which is a hindrance to the market. Furthermore, certain chemicals used in polyurethane products are subject to strict regulations in countries such as India, Australia, and New Zealand, limiting the market's expansion.
Polyurethane manufacturers in the Asia Pacific region are actively involved in various initiatives such as research and development, expansion, and collaborations to enhance their market share and sales revenue. These manufacturers are making significant investments in research and development to introduce novel and innovative products that can satisfy the rising demand from different end-use industries. Additionally, they are concentrating on expanding their production capabilities and building new factories in emerging markets to address the growing demand.
Asia Pacific Polyurethane Market Report Highlights
The flexible polyurethane (PU) foam segment held the dominating revenue share in the region in 2023. This is attributed to the vast applications of PU foam in industries such as automotive, furniture and bedding, and packaging.
In 2023, the Asia Pacific region witnessed the construction industry as the foremost application area for polyurethane due to the growing need for polyurethane materials in multiple construction applications, such as insulation, sealants, adhesives, and coatings.
India is expected to witness a considerable CAGR in the forecast period. This growth is attributed to several factors, such as the rising demand from end-use industries like the construction, automotive, and home furnishing sectors.
The key market players include BASF SE, Covestro, Eastman Chemical Corporation, INEOS, Mitsubishi Chemical Corporation, LyondellBasell, Mitsui Chemicals Inc., Tosoh Corporation, Dow Inc., The Rampf Holding GmbH, etc.
Polaris Market Research has segmented the Asia Pacific polyurethane market report based on product, application, and country:
Asia Pacific Polyurethane, Product Outlook (Revenue - USD Billion, 2019 - 2032)
- Rigid PU Foam
- Flexible PU Foam
- PU Coatings
- PU Adhesives & Sealants
- PU Elastomers
Asia Pacific Polyurethane, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Automotive
- Appliances
- Construction
- Electronics
- Furnishing
- Footwear
- Packaging
- Others
Asia Pacific Polyurethane, Country Outlook (Revenue - USD Billion, 2019 - 2032)
- China
- India
- Malaysia
- Japan
- Indonesia
- South Korea
- Australia
- Rest of Asia Pacific
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Asia Pacific Polyurethane Market Insights
- 4.1. Asia Pacific Polyurethane Market - Industry Snapshot
- 4.2. Asia Pacific Polyurethane Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Expanding applications of polyurethane in the automotive industry drive market growth
- 4.2.1.2. Need for reduced energy consumption driving the market growth
- 4.2.2. Restraints and Challenges
- 4.2.2.1. The volatility in raw material prices hinders market growth
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Asia Pacific Polyurethane Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Asia Pacific Polyurethane Market, by Product
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Asia Pacific Polyurethane, by Product, 2019-2032 (USD Billion)
- 5.3. Rigid PU Foam
- 5.3.1. Asia Pacific Polyurethane Market, by Rigid PU Foam, 2019-2032 (USD Billion)
- 5.4. Flexible PU Foam
- 5.4.1. Asia Pacific Polyurethane Market, by Flexible PU Foam, 2019-2032 (USD Billion)
- 5.5. PU Coatings
- 5.5.1. Asia Pacific Polyurethane Market, by PU Coatings, 2019-2032 (USD Billion)
- 5.6. PU Adhesives & Sealants
- 5.6.1. Asia Pacific Polyurethane Market, by PU Adhesives & Sealants, 2019-2032 (USD Billion)
- 5.7. PU Elastomers
- 5.7.1. Asia Pacific Polyurethane Market, by PU Elastomers, 2019-2032 (USD Billion)
- 5.8. Others
- 5.8.1. Asia Pacific Polyurethane Market, by Others, 2019-2032 (USD Billion)
6. Asia Pacific Polyurethane Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 6.3. Automotive
- 6.3.1. Asia Pacific Polyurethane Market, by Automotive, 2019-2032 (USD Billion)
- 6.4. Appliances
- 6.4.1. Asia Pacific Polyurethane Market, by Appliances, 2019-2032 (USD Billion)
- 6.5. Construction
- 6.5.1. Asia Pacific Polyurethane Market, by Construction, 2019-2032 (USD Billion)
- 6.6. Electronics
- 6.6.1. Asia Pacific Polyurethane Market, by Electronics, 2019-2032 (USD Billion)
- 6.7. Furnishing
- 6.7.1. Asia Pacific Polyurethane Market, by Furnishing, 2019-2032 (USD Billion)
- 6.8. Footwear
- 6.8.1. Asia Pacific Polyurethane Market, by Footwear, 2019-2032 (USD Billion)
- 6.9. Packaging
- 6.9.1. Asia Pacific Polyurethane Market, by Packaging, 2019-2032 (USD Billion)
- 6.10. Others
- 6.10.1. Asia Pacific Polyurethane Market, by Others, 2019-2032 (USD Billion)
8. Asia Pacific Polyurethane Market, by Countries
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Asia Pacific Polyurethane Market Assessment, By Countries, 2019-2032 (USD Billion)
- 8.2.2. Asia Pacific Polyurethane Market - China
- 8.2.2.1. China: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.2.2. China: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.3. Asia Pacific Polyurethane Market - India
- 8.2.3.1. India.: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.3.2. India.: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.4. Asia Pacific Polyurethane Market - Malaysia
- 8.2.4.1. Malaysia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.4.2. Malaysia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.5. Asia Pacific Polyurethane Market - Japan
- 8.2.5.1. Japan: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.5.2. Japan: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.6. Asia Pacific Polyurethane Market - Indonesia
- 8.2.6.1. Indonesia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.6.2. Indonesia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.7. Asia Pacific Polyurethane Market - South Korea
- 8.2.7.1. South Korea: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.7.2. South Korea: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.8. Asia Pacific Polyurethane Market - Australia
- 8.2.8.1. Australia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.8.2. Australia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- 8.2.9. Asia Pacific Polyurethane Market - Rest of Asia Pacific
- 8.2.9.1. Rest of Asia Pacific: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- 8.2.9.2. Rest of Asia Pacific: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. BASF SE
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Covestro
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Dow Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Eastman Chemical Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. INEOS
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. LyondellBasell
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Mitsubishi Chemical Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Mitsui Chemicals Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. The Rampf Holding GmbH
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Tosoh Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
List of Tables
- Table 1 Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 2 Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 3 Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 4 Asia Pacific Polyurethane Market Assessment, By Countries, 2019-2032 (USD Billion)
- Table 5 China: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 6 China: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 7 China: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 8 India.: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 9 India.: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 10 India.: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 11 Malaysia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 12 Malaysia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 13 Malaysia: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 14 Japan: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 15 Japan: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 16 Japan: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 17 Indonesia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 18 Indonesia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 19 Indonesia: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 20 China: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 21 China: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 22 China: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 23 South Korea: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 24 South Korea: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 25 South Korea: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 26 Australia: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 27 Australia: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 28 Australia: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
- Table 29 Rest of Asia Pacific: Asia Pacific Polyurethane Market, by Application, 2019-2032 (USD Billion)
- Table 30 Rest of Asia Pacific: Asia Pacific Polyurethane Market, by Product, 2019-2032 (USD Billion)
- Table 31 Rest of Asia Pacific: Asia Pacific Polyurethane Market, by Distribution Channel, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Asia Pacific Polyurethane Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Countries
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Asia Pacific Polyurethane Market, by Application, 2021 & 2030 (USD Billion)
- Figure 8 Market by Product
- Figure 9 Asia Pacific Polyurethane Market, by Product, 2021 & 2030 (USD Billion)
- Figure 10 Market by Distribution Channel
- Figure 11 Asia Pacific Polyurethane Market, by Distribution Channel, 2021 & 2030 (USD Billion)
- Figure 12 Asia Pacific Polyurethane Market Assessment, By Countries, 2019-2032 (USD Billion)
- Figure 13 Strategic Analysis - Asia Pacific Polyurethane Market
