Market Research Report
Global Polyurethanes Market 2022-2028
|Global Polyurethanes Market 2022-2028|
Published: April 13, 2022
Orion Market Research Pvt Ltd
Content info: 130 Pages
Delivery time: 2-3 business days
Global Polyurethanes Market Size, Share & Trends Analysis Report by Raw Material (Toluene Diisocyanate, Methylene Diphenyl Diisocyanate, And Polyols), by Application(Flexible Foam, Rigid Foam, Snuff Coatings, Sealants, Adhesives, Elastomer, and Others), and by End-User (Automobile, Construction Material, Footwear, Furniture and Bedding, Electronics,and Others) Forecast Period (2022-2028)
The global polyurethanemarket is anticipated to grow at a substantial CAGR of 6.9% during the forecast period.Polyurethanes are thermosetting polymers, and they do not melt when exposed to heat.Polyurethane is formed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. They are also widely used in medical devices such as pacemakers, artificial hearts, and other blood-contacting applications. For instance, the Environmental Protection Agency (EPA) issued a regulation to reduce the emission of the toxic air pollutant methylene chloride from the flexible polyurethane foam market. All polyurethane manufacturers have to comply with this regulation and eliminate the use of methylene chloride for the production of molded foam and rebond foam. Therefore, uncertain government regulations toward environmental protection restrain the growth of the polyurethane market.
The global polyurethanesmarket is segmented based on the raw material, application, and end-user. Based on the raw material, the market is segmented into toluene diisocyanate, methylene diphenyl diisocyanate, and polyols.Based on the application, the market is sub-segmented intoflexible foam, rigid foam, snuff coatings, sealants, adhesives, elastomer, and others. Based on the End-User, the market is segmented into automobiles, construction materials, footwear, furniture and bedding, electronics, and others.Based on the application, the flexible foam segment holds a prominent share in the global polyurethane market.Flexible foam is used for cushioning in a variety of consumer and commercial products such as furniture, bedding, carpet cushion, fibers, and textiles. Foams and other PU products are expected to gain significance in the region on account of rising consumer awareness regarding the sustainability of lightweight and low-cost polyurethane. Furthermore, Companies producing furniture are using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding, and carpet underlayment to improve comfort, durability, health, and safetyleadingto the increasing growth of the global polyurethanes market. For instance, in February 2020, according to American Chemistry Council, it is proven that FPF when compressed by 90% for 22 hours, could recover more than 90% of its original height, which is highly durable than any other form of furniture material.
Geographically the global polyurethanes market is segmented into North America, Europe, Asia Pacific, and the Rest of the WorldGeographically, Asia-Pacific hasemerged as the fastest-growing region in the global polyurethanes market. The region is likely to hold a prominent share in the market during the forecast period. The rising demand for polyurethanes, owing to rising production of the automotive and increasing government emphasis on construction growth is increasing in the region's major economies.For instance, In 2020, Huntsman Company launched a plant in Taiwan along with the 3600 square meter polyol plant and downstream polyurethanes capabilities.
The major companies serving the global polyurethanes market include BASF SE, Baxenden Chemicals, Bayer A.G., Dow Chemical, DSM N.V., Du Pont, Evonik Industries, Huntsman Corp., INOV polyurethane group, Mitsui Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers andacquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2020, BASF announced a single-digit million-euro investment in the potential expansion of water-based polyurethane dispersions at its Castellbisbal site in Spain. The development will allow BASF to increase its production capacity by 30%.
The market study of the global polyurethanes market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market sizeand intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers
Category- Plastics and Polymers