Polyurethane Market size to Reach USD 77.60 Bn by 2027, at a CAGR of 5.3%
Posted: Jul 22, 2021
The polyurethane market is forecasted to grow at a high rate owing to the accelerating demand from applications such as building & construction, automotive, and appliances & white goods. The Global Polyurethane Market was valued at US$ 53.94 Bn in 2020 is Expected to Reach US$ 77.60 Bn by 2027, with a Growing CAGR of 5.3% During the Forecast Period (2020-2027).
Global Polyurethane Market Report 2021 comes with an extensive industry analysis of development components, patterns, flows, and sizes. The report also calculates present and past market values to forecast potential market management through the forecast period between 2021-2027. This research study of Polyurethane involved the extensive usage of both primary and secondary data sources. This includes the study of various parameters affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies, and the technical progress in related industry.
The Polyurethane Market report has been segregated based on distinct categories, such as product type, application, end-user, and region. Each segment is evaluated based on CAGR, share, and growth potential.
List of Top Key Players in Polyurethane Market Report are:
- BASF SE
- Dow Inc.
- Tosoh Corporation
- Huntsman International LLC
- DIC Corporation
- Eastman Chemical Company
- Covestro AG
- Cargill, Incorporated
- Manali Petrochemicals Limited
- Mitsui Chemicals and SKC Polyurethanes Inc.
- Recticel NV/SA
- RTP Company
- RAMPF Group
- Carpenter Co.
- BCI Holding S.A.
- INOAC CORPORATION
- Kuwait Polyurethane Industries W.L.L
- Rogers Corporation
Polyurethanes describe a class of materials valued by consumers for their durability and high performance. In the year 2019, polyurethane experienced a high demand compared to 2017 which was primarily driven by the expansion of various application segments. The lightweight vehicles remained an important market for polyurethane but the demand was considerably low in 2019-2020 compared to 2017-2018 due to the negative impact of COVID-19 on the global economy. The polyurethane industry is anticipated to witness significant growth during the forecast period owing to the rising investments in research and development coupled with the increasing demand for green alternatives.
Polyurethane Market Segmentation by Product Type:
- By Raw Material (Toluene Diisocyanate, Polyols, Methylene Diphenyl Diisocyanate, Others)
- By Product Type (Coatings, Rigid Foam, Adhesives & Sealants, Flexible Foam, Elastomers, Others)
Polyurethane Market Segmentation by Application:
- Bedding & Furniture
- Appliances & White Goods
- Automotive & Transportation
- Building & Construction
The report diversifies the global geographical expanse of the Polyurethane market into five prominent regions such as Europe, APAC, MEA, North and South America.
The report can assist with understanding the market and plan for business extension appropriately. In the procedure examination, it gives experiences from marketing channel and market situating to potential development techniques, giving inside and out an investigation to new contestants or exists rivals in the Polyurethane business. For every maker covered, this report investigates their Polyurethane fabricating locales, limit, creation, ex-industrial facility value, income, and market share in the worldwide market.
- Based on the product type, rigid foam polyurethane accounted for a market share of 33.5% in the global polyurethane market
- Based on the application, the building & construction application segment is growing at the fastest rate, whereas the bedding & furniture segment accounted for the largest market share in 2020
- Based on regions, the Asia Pacific region accounted for a market share of 42.3% in the base year 2020 in the polyurethane market analysis
- In August 2021, Lanxess expanded its Trixene Aqua BI product range of water-based blocked isocyanate dispersions. The product line now includes new grades specially designed to expand the application areas to meet the rising consumer demands. The new products included are Trixene Aqua BI 120, Trixene Aqua BI 522, and Trixene Aqua BI 202. These new products have applications in textile processing, coatings, and automotive among various other applications.
- In June 2020, Dow planned to install a recycling production facility at an industrial scale at Orrion Chemicals Orgaform in Semoy, France. The RENUVA™ Mattress Recycling Program is formed to use the discarded mattress foam and turn it back to the raw material called polyol using a chemical reaction. The raw material formed can be further utilized as flexible or rigid foam polyurethane products for applications in the manufacturing of new mattresses or building insulation boards.
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