Polyurethanes Market – Scope and Opportunities Analysis 2016 – 2021

The global polyurethane market should reach $68 billion by 2021 from $49.8 billion in 2016 at a compound annual growth rate (CAGR) of 6.4%, from 2016 to 2021.

Report Scope:

Polyurethane is the most commonly used material in various applications for the automotive, furniture and bedding, electronics, construction and building, and footwear industries. Major players like BASF, Dow Chemical, Bayer and Huntsman are expected to provide revolutionary polyurethane-based products and technologies in the near future. Dow Chemical is expected to provide reactive PU plasticizers, which are considered to be useful for polyurethane moisture curing adhesives used in automotive glass bonding. BASF will boost polyurethane market through new generation vehicles made from PU material. Various 3D printing start-ups and intermediate players are exploring the polyurethane market and offering innovative solutions, from artificial organs to fabric or complex 3D models of machines. In addition, increased adoption of biodegradable polyurethane material is also creating buzz in the health care sector. For example, biodegradable polyurethane elastomers are expected to contribute to cartilage tissue engineering applications in the near future.

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Moreover, significant expansion from Bayer and Dow Chemical in APAC will help expand the scope for polyurethanes. APAC is the largest consumer and producer of polyurethanes, and holds 36% of the global polyurethane market. It is also the biggest exporter of polyurethanes. North America is the second-largest global market for polyurethanes, with the U.S. as the dominant market followed by Canada. The U.S. and E.U. regions are projected to increasingly consume polyurethane applications in the construction and building sector for energy-efficient insulation in residential buildings.

Moreover, adoption of new technologies and applications in the global furniture and bedding, building and construction and automobile markets are expected to boost polyurethane demand in the near future. The major geographic regions covered in the report are North America, Europe, APAC and the Rest of World (RoW). In addition, this report provides a country-specific breakdown of polyurethane consumption based on total revenue generated. Major countries included the U.S., Canada, Germany, U.K., Spain, Italy, France, China, Japan and India.

Estimated values used are based on manufacturers’ total revenues and forecast revenue values are in constant U.S. dollars, unadjusted for inflation. Unit volume of polyurethane as well as consumption of polyurethane material in varied sectors was used to estimate the total market. Many manufacturers as well as end users are profiled in the report. This report includes company profiles with detailed introductions, product portfolios and recent developments.

Report Includes:

- An overview of the global polyurethanes market.
- Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- In-depth coverage of key technologies and raw materials used in the polyurethane market.
- Evaluation of market strategies, product launches and partnerships.
- Information regarding the current market scenario, market trends and government regulations.
- A look at end users and applications of polyurethanes.
- Profiles of major players in the industry.

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Report Summary

Polyurethanes are one of the most versatile polymers. It is widely used in a variety of applications such as footwear, furniture, bedding, textiles, coatings, electrical and electronics, synthetic leather, adhesives and others. Polyurethane has gained significant popularity due to its inherent properties such as strength, hydrolysis resistance, adhesion, elasticity, hardness and others, which make it a highly useful material. The global polyurethane market was valued at around $46.5 billion in 2015, while  consumption volumes totaled 28,600 kilotons. The market has been on a rise due to high demand from various regions and industries. In addition, demand is forecast to increase by 6.4% during the reporting period of 2016 to 2021. The market is driven by high demand and high growth rates in key segments such as the building and construction, and automobile sectors. The market is expected to make significant gains due to continuing high demand in Asia-Pacific.

Furniture and bedding is the largest market segment for polyurethanes and accounted for 33.6% market share in 2015. However, building and construction is the fastest-growing segment, and is expected to increase at a CAGR of 10% between 2016 and 2021. This growth is based on various key factors such as technological advancement, innovation, availability of wide-ranging polyurethane products for automotive, furniture, electronics, biomedical, footwear and construction applications. Further, new
market entrants, product launches, innovation and technological advancement will boost growth in the coming years. Other key factors contributing to the growth of the polyurethanes market include favorable government regulations, rising demand from emerging economies and huge economic growth in major end-user industries such as health care, construction, automobiles, etc.

Polyurethane is a versatile material that can be converted into various forms such as thermosetting plastics, thermoplastics and synthetic rubber (elastomers). These are made from monomer units of urethane (carbamate). Polyurethanes are typically produced by the reaction of polyol and polyisocyanates.Commercially, methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI) are used for the production of polyurethanes. This material has a wide range of applications such as flexible
foam, rigid foam, coating, adhesive, sealant, elastomer, etc. Polyurethanes are used by various end-user industries such as automotive, building and construction, footwear, furniture and bedding, and electronics. Polyurethanes are also essential in building materials.

There are various stakeholders that contribute to the growth of polyurethanes. The value chain of the polyurethane market consists of a large number of players including raw material suppliers, polyurethane manufacturers, distributors, end-user industries, distributors of finished goods, and consumers. Manufacturers are the main players in this value chain and control the market. Major players from the chemical industry include BASF, Bayer, Wanhua Chemical, Huntsman, Dow Chemical, and Mitsui Chemical. BASF is the largest manufacturer of polyurethane with a global market share of 20% in 2015. The top five companies in the market control over 50% of total global market. Joint venture and innovations are key strategies of leading players in the industry.

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