Pune, India, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The global polyurethane market size was USD 56.45 billion in 2020 and is projected to grow from USD 57.34 billion in 2021 to USD 81.74 billion in 2028 at a CAGR of 5.1% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Polyurethane (PU) Market, 2021-2028.”
According to our analysts, the rising usage of ground-breaking production technologies with progressive characteristics is predicted to influence the Polyurethane (PU) market affirmatively. For instance, the formation of TPU and PU acrylate oligomers that are amalgamated and radiation-cured to attain semi-interpenetrating polymer networks (IPN).
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List of Key Players Covered in the PU Market Report:
- BASF SE (Germany)
- The Dow Chemical Company (U.S.)
- Covestro AG (Germany)
- Yantai Wanhua Polyurethanes Co., Ltd. (China)
- Huntsman (U.S.)
- Foamcraft, Inc. (U.S.)
- Mitsui Chemicals & SKC Polyurethanes Inc. (South Korea)
- Lanxess (Germany)
- Eurofoam Group (Austria)
- Inoac Corporation (Japan)
- Rogers Corporation (U.S.)
- Recticel (Belgium)
- Future Foam, Inc. (U.S.)
- Tosoh Corporation (Japan)
- Armacell (Germany)
- Fxi-Foamex Innovations (U.S.)
- Compagnie De Saint-Gobain S.A. (France)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 5.1% |
| 2028 Value Projection | USD 81.74 Billion |
| Report coverage | Revenue forecast, company profiles, competitive landscape, growth factors and latest trends |
| Polyurethane Market Size in 2021 | USD 57.34 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 280 |
| Segments Covered | By Product Type, By Application and Regional |
| Polyurethane Market Growth Drivers | Procurements Instigated by Crucial Companies to Endorse Market Growth |
| Surging Demand for Foams from Furniture Industry to Empower Growth |
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Report Coverage
The Polyurethane market report typically covers the global market for polyurethane, including the various types, applications, and end-use industries. The report may include the following sections:
Market Overview: This section provides a brief introduction to the market, including the current market size and growth rate, key drivers and challenges, and market trends.
Market Segmentation: This section breaks down the market into various segments based on type, application, end-use industry, and geography.
Competitive Landscape: This section provides an overview of the key players in the market and their market share, as well as their product offerings, strategies, and recent developments.
Regional Analysis: This section provides an overview of the market in various regions, including North America, Europe, Asia-Pacific, and the rest of the world, with a focus on market size, growth rate, and key players.
Market Dynamics: This section provides an in-depth analysis of the key drivers, challenges, opportunities, and trends affecting the market.
Forecast: This section provides a forecast of the market size and growth rate over coming years, based on historical data, current trends, and future projections.
Company Profiles: This section provides a detailed analysis of the key players in the market, including their business overview, financials, product offerings, and recent developments.
Overall, the polyurethane market report provides a comprehensive analysis of the market, including the various factors influencing its growth and development, as well as the key players and their strategies.
Segmentation
The polyurethane market is typically segmented based on the following factors:
Type: Polyurethane can be classified into various types based on their chemical composition, such as rigid foam, flexible foam, coatings, adhesives and sealants, elastomers, and others.
Application: Polyurethane can be used in various applications, such as construction, furniture and bedding, automotive and transportation, electronics and appliances, packaging, and others.
End-use Industry: Polyurethane is used in various end-use industries, including construction, automotive, furniture and bedding, electronics and appliances, packaging, and others.
Geography: The market can also be segmented into various regions, such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Overall, the segmentation of the polyurethane market helps to identify the specific areas of growth and opportunities for the various types of polyurethane, applications, end-use industries, and regions. It also helps companies to tailor their marketing strategies and product offerings to specific market segments to better meet customer needs and increase market share.
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Drivers and Restraints
The PU industry is influenced by various drivers and restraints that impact its growth and development. These factors include:
Drivers:
Increasing demand from end-use industries: The growing demand for polyurethane from end-use industries such as construction, automotive, furniture, and electronics is a major driver for the market. The versatile properties of polyurethane make it suitable for a wide range of applications in these industries.
Growing demand for energy-efficient materials: Polyurethane is an excellent insulation material that helps reduce energy consumption in buildings and other structures. The increasing demand for energy-efficient materials is expected to boost the demand for polyurethane.
Advancements in technology: Technological advancements in the production and processing of polyurethane have led to the development of new and improved products, which is expected to drive market growth.
Increasing urbanization: The rapid pace of urbanization in emerging economies is expected to drive the demand for construction materials, including polyurethane, for infrastructure development.
Restraints:
Volatility in raw material prices: The prices of raw materials used in the production of polyurethane, such as crude oil and benzene, can be volatile, which can impact the profitability of manufacturers and limit market growth.
Environmental concerns: Polyurethane production and disposal can have a significant impact on the environment, leading to concerns about its sustainability and increasing regulations on its use.
Health concerns: The use of isocyanates, a key ingredient in polyurethane production, can pose health risks to workers in the industry, leading to increasing concerns and regulations.
Competition from alternative materials: Polyurethane faces competition from alternative materials such as fiberglass, polystyrene, and polyethylene, which can limit market growth.
Regional Insights
Asia Pacific was worth USD 25.66 billion in 2020. Asia Pacific is predicted to hold a major polyurethane market share in terms of revenue as well as volume and is expected to display substantial growth.
North America is projected to exhibit significant growth in this PU market. The dominating country in the region, the U.S. utilizes this material in the automotive as well as construction applications, which will assist the market growth.
Europe will demonstrate considerable growth owing to the surging applications of polyurethane in the manufacturing of machinery and furniture.
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Competitive Landscape
The polyurethane market is highly competitive, with numerous players operating at both the global and regional levels. The competitive landscape of the market is influenced by various factors, such as product innovation, pricing strategies, distribution networks, and mergers and acquisitions.
The competitive landscape of the market is expected to continue to evolve as new players enter the market and existing players expand their operations. In addition, mergers and acquisitions are expected to remain a key strategy for players to enhance their market position and expand their product offerings.
Major Points from Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Polyurethane Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Polyurethane Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Product Type (Volume/Value)
- Rigid Foam
- Flexible Foam
- Molded Foam
- Elastomers
- Adhesives & Sealants
- Coatings
- Others
- By Application (Volume/Value)
- Furniture
- Construction
- Electronics
- Automotive & Transportation
- Packaging
- Footwear
- Others
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- North America Polyurethane Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Product Type (Volume/Value)
- Rigid Foam
- Flexible Foam
- Molded Foam
- Elastomers
- Adhesives & Sealants
- Coatings
- Others
TOC Continued…!
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People also ask:
What is the market demand for polyurethane?
Answer: The global polyurethane market was USD 56.45 billion in 2020 and is projected to grow from USD 57.34 billion in 2021 to USD 81.74 billion in 2028 at a CAGR of 5.1% during the 2021-2028 period.
Why is polyurethane so popular?
Answer: Polyurethane, mostly in the form of flexible foam, is one of the most popular materials used in home furnishings such as furniture, bedding and carpet underlay. As a cushioning material for upholstered furniture, flexible polyurethane foam works to make furniture more durable, comfortable and supportive.
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