Polyurethane Market Expected Worth USD 89.29 Billion by 2026 | Top Leading Players Foamcraft, Inc, Lanxess, Inoac Corporation, Rogers Corporation, Recticel, BASF and more

As Per Report Published By Fortune Business Insights™ the global polyurethane market future is set to gain traction from the increasing usage of PU coatings in the furniture, construction, and automotive industries to prevent weathering, corrosion, and abrasion. This information is given by Fortune Business Insights™ The report further mentions that the polyurethane market size was USD 58.37 billion in 2019 and is projected to reach USD 87.635.8 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period.

Companies Covered in the Polyurethane Market Report by Fortune Business Insights™:

• Foamcraft, Inc. (U.S.)
• Mitsui Chemicals & SKC Polyurethanes Inc. (Korea)
• Foampartner Group (Switzerland)
• Lanxess (Germany)
• Eurofoam Group (Austria)
• Inoac Corporation (Japan)
• Rogers Corporation (U.S.)
• Recticel (Belgium)
• BASF (Germany)
• The Dow Chemical Company (U.S.)
• Covestro AG (Germany)
• Yantai Wanhua Polyurethanes Co., Ltd. (China)
• Huntsman (U.S.)
• Future Foam, Inc. (U.S.)
• Tosoh Corporation (Japan)
• Armacell (Germany)
• Fxi-Foamex Innovations (U.S.)
• Compagnie De Saint-Gobain S.A. (France)

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Drivers & Restraints-
Increasing Demand for Furniture Worldwide to Aid Growth
Polyurethane is mainly used in the furniture industry for bedding and cushioning applications. This is because it is capable of providing comfort, durability, and flexibility. Besides, the rapidly changing lifestyles of people and the increasing population are further boosting the demand for furniture across the globe. However, the availability of substitutes of PU may hinder the polyurethane market price in the coming years. Polysiloxane coatings, for instance, are nowadays replacing PU coatings in marine applications because of their suitable weathering and durability properties.
Segment-
Furniture Segment to Dominate Stoked by Usage of PU Foam for Cushioning Effect
Based on application, the electronics segment held 11.5% in terms of polyurethane market share in 2019. The furniture segment is anticipated to dominate throughout the forthcoming years because of the extensive usage of PU foam for getting the cushioning effect in furniture. It provides high durability and support.
Regional Analysis-
High Demand from Furniture & Construction Industries to Favor Growth in Asia Pacific
Geographically, in 2019, Asia Pacific earned revenue of USD 26.23 billion. The region is set to hold a major portion of the market fueled by the increasing demand from the construction and furniture industries. North America would showcase a considerable growth on account of the high demand for automotive applications in the U.S.

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industry developments:
• September 2020: Toyochem Co., Ltd. unveiled its latest series of biodegradable pressure sensitive adhesives (PSAs). It is marketed under the Cyabine series of polyurethane PSAs. The new product is best suited for a wide range of industries, namely, agriculture, construction, and packaging.
• February 2020: Icynene-Lapolla was recently acquired by Huntsman Corporation with a sum of USD 350 million. It would help Huntsman to grow its polyurethanes business. The company can now deliver energy-saving, novel solutions to commercial & residential property owners.

Major Table of Contents:
• Introduction
o Research Scope
o Market Segmentation
o Research Methodology
o Definitions and Assumptions
• Executive Summary
• Market Dynamics
o Market Drivers
o Market Restraints
o Market Opportunities
• Key Insights
o Key Emerging Trends – For Major Countries
o Key Developments: Mergers, Acquisition, Partnership, etc.
o Latest Technological Advancement
o Insights on Regulatory Scenario
o Porters Five Forces Analysis
TOC Continued…!

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.