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Global Polyurethane Market Share, Value, Overview, Analysis: By Product Type: Rigid Foam, Flexible Foam, Coatings, Adhesives, Sealants, and Elastomers (CASE), Thermoplastic Polyurethane, Others; By End Use: Furniture, Construction, Electronics, Automotive and Transportation, Others; Regional Analysis; Competitive Landscape; 2018-2028

Global Polyurethane Market Outlook

The global polyurethane market size reached a value of over USD 59.28 billion in 2022. During the forecast period of between 2023 and 2028, the market is expected to grow at a CAGR of 4.70%.

 

Key Trends in the Market

Polyurethane, also known as polymeric material, is created from a multitude of starting elements and is categorised as a polymer rather than a specific substance. They are thermosetting polymers, which means that they do not melt in the presence of heat. Due to its easy accessibility, low cost, simplicity of use, and recyclability, it is employed in a variety of applications that improve the comfort and environmental friendliness of daily lives.

 

  • Polyurethane is widely employed in the building and construction industry for commercial, industrial, and residential applications due to its insulating qualities, versatility, durability, and strength-to-weight ratio. The polyurethane market demand is anticipated to increase throughout the forecast period due to rising building insulation demand brought on by environmental concerns. However, the rising demand for acid-epoxy coatings could limit market expansion.
  • A wide variety of consumer goods used in daily life include polyurethane materials. For instance, hard foam for casing in walls and roofing, TPU for medical equipment and footwear, and flexible foam for upholstered furniture are some of the examples of polyurethane-based products. Additionally, it is also used on floors and automotive interiors, in coatings, sealants, adhesives.
  • As a result of improved building material performance, there is a higher need for effective insulating materials to regulate air conditioning, ventilation, heating and reduce the amount of energy lost due to inadequate insulation. The introduction of extremely effective insulating materials like polyurethane foam leads to huge energy savings.

 

Global Polyurethane Market Analysis

Based on product type, the market is divided into rigid foam, flexible foam, coatings, adhesives, sealants, and elastomers (CASE), and thermoplastic polyurethane, among others. The market on the basis of end use can be segmented into furniture, construction, electronics, automotive and transportation, packaging, and footwear, among others. The regional markets for polyurethane can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global polyurethane market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

 

  • Dow Inc.
  • Covestro AG
  • Huntsman Corporation
  • BASF SE
  • DIC Corporation
  • RAMPF Holding GmbH & Co. KG
  • Others

 

Market Share by End Use

The demand for polyurethane in the construction sector is anticipated to expand significantly throughout the forecast period due to the superior thermal insulation, light weight, chemical inertness, and bacterial and pest resistance of polyurethane foam. The growth of the construction industry is also being fuelled by the expanding government initiatives like smart cities along with rising infrastructure spending, thus aiding the polyurethane market growth. Furthermore, the need for polyurethane is predicted to increase as green buildings become more and more popular around the world, fuelling the expansion of the construction industry.

 

Over the projection period, the automotive sector is expected to expand at a considerable CAGR. There are several environmentally friendly uses for polyurethane in the automotive sector. Utilising polyurethane offers advantages, including safety, comfort, lightness, and design flexibility. Products made of polyurethane assist automakers and designers in creating the seating they desire for their vehicles. Seating made of polyurethane is simple to assemble, remove, and recycle. Polyurethane supports improved performance requirements and a wide range of stiffness without sacrificing quality or adding weight.

 

Market Share by Region

The Asia Pacific region is predicted to lead the polyurethane market due to increasing use of polyurethane in major end-use sectors such as construction, automotive, furniture and interior, electronics and appliance, and packaging. A vast pool of inexpensive, skilled labour and easy access to land are the key characteristics of the Asia Pacific region. Over the course of the forecast period, the further growth of the manufacturing sectors in emerging economies, such as China and India, is anticipated to positively impact market growth for polyurethane. 

 

Additionally, the Asia Pacific region is home to a number of quickly developing industries like construction, automotive, and electronics that present lucrative growth prospects for polyurethane manufacturers. The expansion of the regional market can also be linked to an increase in construction activity and the rapid urbanisation of emerging nations like, thereby aiding the polyurethane market in the Asia Pacific. 

 

Competitive Landscape

Dow Inc., with its headquarters in Michigan in the United States, is one of the top producers of chemicals, plastics, synthetic fibres, and agricultural products worldwide. The company provides a variety of goods and services for customers in the packaging, infrastructure, mobility, and consumer care areas.

 

Covestro AG is the leading manufacturer of cutting-edge, high-performance polymers throughout the world, with its headquarters in Germany. Products in a wide range of markets are improved by its inventive discoveries in polyurethanes, polycarbonates, coatings, adhesives, speciality raw materials, and thermoplastic polyurethane elastomers. 

 

Huntsman Corporation, with its headquarters in Texas in the United States, produces unique organic chemical products. The company, which was founded in 1970, has sectors for polyurethanes, advanced materials, textile effects, and performance goods. The polyurethanes product segment includes thermoplastic polyurethane, methylene diphenyl diisocyanate, polyols, and other products associated with polyurethane.

 

Other market players include BASF SE, DIC Corporation, and RAMPF Holding GmbH & Co. KG, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • End Use
  • Region
Breakup by Product Type
  • Rigid Foam
  • Flexible Foam
  • Coatings, Adhesives, Sealants, and Elastomers (CASE)
  • Thermoplastic Polyurethane
  • Others
Breakup by End Use
  • Furniture
  • Construction
  • Electronics
  • Automotive and Transportation
  • Packaging
  • Footwear
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Dow Inc.
  • Covestro AG
  • Huntsman Corporation
  • BASF SE
  • DIC Corporation
  • RAMPF Holding GmbH & Co. KG
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Polyurethane Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Polyurethane Historical Market (2018-2022) 
    8.3    Global Polyurethane Market Forecast (2023-2028)
    8.4    Global Polyurethane Market by Product Type
        8.4.1    Rigid Foam
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Flexible Foam
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Coatings, Adhesives, Sealants, and Elastomers (CASE)
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Thermoplastic Polyurethane
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Polyurethane Market by End Use
        8.5.1    Furniture
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Construction
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Electronics
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Automotive and Transportation
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Packaging
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022)
            8.5.5.3    Forecast Trend (2023-2028)
        8.5.6    Footwear
            8.5.6.1    Market Share
            8.5.6.2    Historical Trend (2018-2022)
            8.5.6.3    Forecast Trend (2023-2028)
        8.5.7    Others
    8.6    Global Polyurethane Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code- 390950)

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume 
13    Price Analysis
    13.1    North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    13.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Dow Inc.
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Covestro AG 
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Huntsman Corporation
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    BASF SE
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    DIC Corporation 
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    RAMPF Holding GmbH & Co. KG 
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Others
15    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Polyurethane Market: Key Industry Highlights, 2017 and 2027
2.    Global Polyurethane Historical Market: Breakup by Product Type (USD Million), 2018-2022
3.    Global Polyurethane Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4.    Global Polyurethane Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Polyurethane Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Polyurethane Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Polyurethane Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Polyurethane Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Polyurethane Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Polyurethane Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Polyurethane Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Polyurethane Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Polyurethane Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Polyurethane Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Polyurethane Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Polyurethane Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Polyurethane Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Major Exporting Countries by Value
19.    Major Importing Countries by Value
20.    Major Exporting Countries by Volume
21.    Major Importing Countries by Volume
22.    North America Historical Price Trends and Forecast 2017-2027
23.    Europe Historical Price Trends and Forecast 2017-2027
24.    Asia Pacific Historical Price Trends and Forecast 2017-2027
25.    Latin America Historical Price Trends and Forecast 2017-2027
26.    Middle East and Africa Historical Price Trends and Forecast 2017-2027
27.    Global Polyurethane Market Structure

Key Questions Answered in the Report

In 2022, the global market for polyurethane attained a value of over USD 59.28 billion.

The polyurethane market is projected to grow at a CAGR of 4.70% between 2023 and 2028.

The major drivers of the market include the growing use in building and construction industry along with the increasing use in major end use industries, and rising consumer awareness regarding the sustainability of lightweight and low-cost polyurethane.

Increasing construction activities, rapid urbanisation, rising number of initiatives by governments, and growing electronics industry are the key industry trends propelling the growth of the market.

The major players in the industry are Dow Inc., Covestro AG, Huntsman Corporation, BASF SE, DIC Corporation, and RAMPF Holding GmbH & Co. KG, among others.

Polyurethanes are created 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 the proper catalysts and additives.

Some of the drawbacks of polyurethane are its low heat conductivity, poor weatherability, susceptibility to attack from most solvents, use of hazardous isocyanates, and flammability.

Polyurethane is one of the most adaptable plastic materials, and can be moulded into unique shapes, used to solve complex challenges, and improve industrial and consumer items.

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