The global polyurethane market was valued US$ 96.19 Bn in 2019 and is expected to reach 152.25 Bn by 2027, at a CAGR of 11.10% during a forecast period. Development in furniture industries will increase the demand for polyurethane market.
Global Polyurethane Market
Market Definition:
Polyurethane (PU) is a tough, flexible, and extremely long-lasting fabricated material which is class of synthetic materials produced by copolymerizing an isocyanate with polyhydric alcohol which is popular as polyurethane foam.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Drivers and Restraints:
Rising request for bio-based polyurethane and huge demand for invention and sustainability are considered as a significant characteristic to drive the market growth. The growth of the polyurethane market is driven by the factors like development in construction projects, demanding efficient foams for furniture, packaging and interiors will boost the market growth owing to the properties like durability, firmness, and flexibility. Furthermore, PU foams have thermosetting characteristics which is attracting the vendors to invest in the market. Rise in popular application of colored PU foam for automotive accessories, furniture, packaging, floor wadding, and bedding, customization are other factors to drive the market during forecast period. PU is widely accepted by electronics appliances, interior construction, furniture, automotive, footwear, packaging, leisure apparel, sports industries which will boost the market in the coming years. Unique physical properties and versatility of polyurethane, growing application of polyurethane in refrigeration are expected to intensify the market growth during the developing years.
Furthermore, fluctuation in the cost of raw materials and availability of active ingredients is hampering to the growth of the polyurethane market.
Polyurethane Market Segment analysis:
By application segment, automotive sector is expected to show constant growth during the estimated year. Polyurethane foam are extensively accepted by automobile inventors and manufacturers that allows to produce seating that can be easily assembled, disassembled and recycled with high performance specifications over a wide range of firmness with lightweight. Arm rests, head rests, cushioned instrument panels and other parts of car’s interior are all made with polyurethane flexible foams which is boosting the market growth and is expected to show constant growth with XX% CAGR.
Polyurethane Market Regional Analysis:
North America is expected to dominate the polyurethane Market and is expected to grow at a CAGR of XX % during the forecast period. Developed regions like the U.S. and Canada are considered major contributors for the Polyurethane market growth in the North America region. In 2019, market size was valued US$ XX Bn while in U.S. market size was valued XX Bn and is expected to increase by US$ XX Bn in the coming years.
North America is followed by Asia Pacific and is expected to show constant growth in the coming years. The Asia Pacific appeared as the foremost regional market and documented for XX.07% of total market share in 2019. Main reason for regional market growth is registered for evolving automotive industry and growing polymer adoption in numerous growing industrial sectors. Furthermore, manufacturing vendors bending interest to shift their manufacturing unit in the region, result of presence of man power and governmental support in emerging countries like China and India are expected to drive the market.
The objective of the report is to present a comprehensive analysis of the Global Polyurethane Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Polyurethane Market dynamics, structure by analysing the market segments and project the Global Polyurethane Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Polyurethane Market make the report investor’s guide.
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Scope of Polyurethane Market
Global Polyurethane market, By Application
• Electronic Appliances
• Furniture & Interiors
• Construction
• Automotive
• Packaging
• Footwear
• Others
Global Polyurethane market, By Product
• Adhesives & Sealants
• Flexible Foam
• Elastomers
• Rigid Foam
• Coatings
• Others
Global Polyurethane Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Polyurethane Market,
• Nippon Polyurethane Industry Corporation Ltd
• The Dow Chemical Company
• Woodbridge Foam Corporation
• CangzhouDahua Group Co. Ltd
• Chematur Engineering AB
• Polyurethane Specialties
• Bayer Material Science
• British Vita Unlimited
• Foamex Innovations
• Huntsman Corporation
• Mitsui Chemicals
• Coim Group
• Covestro AG
• Recticel SA
• BASF SE
• Lanxess
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