Industrial PU Elastomer Market grow at USD 12.55 billion by 2029 with a CAGR of 6.3%, Size, Trends, Growth Opportunities and Forecast

Industrial PU Elastomer Market Overview:

Polyurethane (PU) elastomers are synthetics having elastic properties manufactured by reacting polymeric materials. They are based on diisocyanatos, polyols, and in some cases chain extenders. These elastomers are made by combining hard (isocyanate) and flexible (polyol) components, with different selections resulting in better polyurethane elastomers. PU elastomers are first-class materials used for coatings.

The Industrial PU Elastomer Market was valued at USD 7.24 billion in 2020, and it is expected to grow at USD 12.55 billion by 2029 with a CAGR of 6.3% during the forecast period.

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Major factors that are expected to boost the growth of the polyurethane (PU) elastomer market in the forecast period are the worldwide population. Furthermore, the rise in the disposable income per household is further anticipated to propel the growth of the polyurethane (PU) elastomer market. Moreover, the rise in the consumption of footwear is further estimated to cushion the growth of the polyurethane (PU) elastomer market. On the other hand, the increased cost of thermoplastic PU elastomer than conventional materials is further projected to impede the growth of the polyurethane (PU) elastomer market in the timeline period.

Industrial PU Elastomer Market Segmentation:

Industrial PU Elastomer Market by Type, 2020-2029, (USD Billion), (Kilotons)

Thermoset PU Elastomer
Thermoplastic PU Elastomer

Industrial PU Elastomer Market by End User Industry, 2020-2029, (USD Billion), (Kilotons)

Transportation
Industrial
Medical
Building & Construction
Mining Equipment

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Industrial PU Elastomer Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are BASF, Dow, Huntsman, Covestro, Era Polymers, Notedome, Mitsui Chemicals, Lanxess, The Lubrizol Corporation and Others

Recent Advancements:

In June 2021, to meet the growing demand for PU systems and products, Dow built an integrated MDI distillation and Prepolymers facility in Freeport, Texas. The MDI facility is expected to be operational in 2023, after which the company's PU assets at the La Porte site in the United States will be shut down.
In December 2020, BASF and Meiban cooperated to develop the Elastollan soft-touch feel thermoplastic PU series, which leads to new design possibilities.
In May 2020, Covestro and Teknor Apex, a global plastics compounder, teamed up to create a compounding industrial thermoplastic PU elastomer. The collaboration wanted to provide clients with customized items, both old and new.
In August 2019, Lanxess launched Adiprene Green, a new product of MDI polyether prepolymers made from bio-based raw materials. The characteristics of Adiprene Green are similar to those of the company's fossil-based polyether elastomers.

Growth Factors:

Increasing demand from the Industrial PU Elastomer industries
The growing use of Industrial PU Elastomer in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Industrial PU Elastomer Market

Industrial PU Elastomer Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Industrial PU Elastomer Market Trends

- The report identifies, determines, and forecasts the Global Industrial PU Elastomer Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Industrial PU Elastomer Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Industrial PU Elastomer Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Industrial PU Elastomer Market.

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