Polyurethane Elastomers Market Research Key Players, Industry Overview And Forecasts To 2026

Polyurethane is a polymer comprising of organic molecules. Polyurethane elastomers are derived from polyurethane. Polyurethane elastomers are derived from the reaction between isocyanate molecule and a molecule of multiple alcohol groups called polyol. Polyurethane elastomer is a class or material of polyurethane that possesses properties of a rubber. Akin to rubber material, polyurethane elastomers exhibit qualities such as plasticity, elasticity, and resistance to abrasion & solvents. Polyurethane elastomers are also known as synthetic rubbers as they are manufactured using other organic molecules.

Based upon product type, the polyurethane elastomers market can be segmented into thermoplastic elastomers and thermosetting elastomers. Demand for thermosetting polyurethane elastomers is high in the polyurethane elastomers market across the globe. Thermosetting elastomers set permanently when heated. Most polyurethane elastomers are based on thermosetting polymers. However, demand for thermoplastic elastomers is also high. Thermoplastic elastomers become soft on heating and harden on cooling, and are able to repeat these processes. Thermoplastic elastomers are cheaper, efficient, and used in wide range of applications. Polyurethane elastomers are employed in almost all end-user industries. They exhibit properties such as high durability, resistance to fire, soft touch, and clarity.

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Based upon end-user type, the polyurethane elastomers market can be divided into automotive, building & construction, footwear, electronics, and others. The automotive segment accounted for the major share of the polyurethane elastomers market in 2016. Polyurethane elastomers are primarily used in manufacture of wheels, automotive suspension bushings, and other parts of automotive products. Under the electronics segment, polyurethane elastomers are used for forming high resilience foam and insulation panels. Polyurethane elastomers are used for in elevators and other infrastructure items in the building & construction industry. Under the others segment, polyurethane elastomers are used for making shopping carts, hoses, and sealants. They are also employed in the surface coating process. Rapid growth in automotive and electronics industries across the globe is projected to boost the polyurethane elastomers market. Rise in demand for durable and impact resistant materials in automotive and electronic applications is estimated to be a key driver of the polyurethane elastomer market. Health hazard due to the usage of polyurethane elastomers is the only restraint of the market.

In terms of region, Asia Pacific dominated the global polyurethane elastomers market. Increase in population and rapid industrialization have led to growth in infrastructure projects. Furthermore, increase in disposable income is boosting the automotive and electronics industries. North America also accounted for key share of the polyurethane elastomers market in 2016. Growth in reconstruction activities has boosted the polyurethane elastomers market in the region. Europe is the third major consumer of polyurethane elastomers across the globe. The automotive industry in Germany is one of the largest hubs across the globe. Expansion in the automotive industry has led to a rise in demand for polyurethane elastomers. Middle East & Africa and Latin America held low share of the polyurethane elastomers market across the globe. However, market share of these regions is anticipated to increase at a fast pace in the near future. Increase in investment in the regions for industrial growth is expected to augment the demand for polyurethane elastomers.

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Key players operating in the global polyurethane elastomers market include BASF SE, DuPont, The Dow Chemical Company, VCM Polyurethanes Pvt. Ltd., Huntsman International LLC and Covestro.

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