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Polyurethanes Market to earn huge proceeds from packaging sector by 2026

Polyurethanes Market

Polyurethanes Market

According to the latest research report published by Global Market Insights Inc., polyurethanes market size is likely to surpass $93 billion by 2026.

Amplifying demand for sustainable plastic solutions in automotive and construction sector will influence polyurethanes market outlook by 2026. Demand for organic and lightweight polymers have increased significantly to reduce environmental degradation. In addition, government initiatives towards infrastructure development are also favoring polyurethane market trends.

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Polyurethane offers effective bonding, high flexibility, high load bearing capacity, and impact resistance, which has escalated adoption of polyurethane products globally. Polyurethane-based products can enhance aesthetic appearance and provide a clean minimalistic look. Chairs, tables, beds, etc. are being increasingly manufactured by using premium quality plastic materials due to economic feasibility, which is likely to offer momentous growth to polyurethanes market share.

Construction sector is generating high growth opportunities for polyurethanes market owing to the unique physical properties and high versatility of the product. The material provides great adhesion and elasticity to several substrates, including wood, concrete, glass, and plastic. These foams act as insulation materials in wall and roof, insulated doors, windows, and air barrier sealants.

Asia Pacific polyurethanes market size is likely to inflate owing to heightened demand from the packaging industry. The industry has been increasing the adoption of recyclable and sustainable packaging solutions lately. Moreover, development of packaging solutions with high gloss finish and latest designs with the use of PU are on the rise. The latest innovations for packaging solutions involve the use of recyclable materials, especially polyurethane, since they are durable and protect delicate products with high fragility, thereby fueling polyurethanes industry share.

Polyurethane-based foams, sealants, coatings, and adhesives have gained massive relevance in packaging, electronics, and construction sectors. Application of polyurethane as adhesives offer strong bonding, while PU sealants provide tighter seals. Polyurethane companies are striving to advance technologies for polymer manufacturing with extraordinary properties to make the products suitable for a broader application spectrum.

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Europe has been generating high demand for lightweight and high-performance sealants & adhesives owing to stringent regulations towards controlling carbon footprint and use of fuel-efficient vehicles. Governments in Europe and North America have implemented restrictions to reduce environmental degradation. This move has encouraged industry players to develop high-quality plastics to replace traditional heavy metals, which is fueling polyurethanes market size.

The key PU industry players include Nippon Polyurethane Corporation, Huntsman Corporation, BASF, and Mitsui Chemicals. These companies have been pursuing various strategies, including collaborations, product development, flotation, and others to strengthen their market foothold. For instance, in May 2018, Huntsman Corporation rolled out two thermoplastics polyurethanes for footwear sector. The advanced polyurethane has enhanced slip resistance on wet and dry surfaces.

Contact Us:
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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