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PU Elastomers Market Leading Player 2022-28

The global pu elastomers market size was valued at USD 15.4 billion in 2021 and is poised to grow at a significant CAGR of 5.1% during the forecast period 2022-28. Given their flexibility, toughness, load strength, abrasion resistance, and chemical resistance, polyurethane elastomers are well known for their employment in a variety of industries. The rise of the global population is one of the key factors predicted to propel the polyurethane (PU) elastomer market during the forecast period. The market for polyurethane (PU) elastomers is also expected to develop as disposable income per household rises, according to predictions. Also predicted to buffer the growth of the polyurethane (PU) elastomer market is the rise in footwear consumption. On the other hand, the timeline period's anticipated growth of the polyurethane (PU) elastomer market is further predicted to be hampered by the higher cost of thermoplastic PU elastomer than conventional materials.

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PU Elastomers Market Growth Factors:
The primary industry using polyurethane elastomers is the automotive sector, and as the automotive sector expands in emerging markets, this is anticipated to spur growth in the polyurethane elastomer market as a whole. High-quality and high-performance plastics are also necessary due to people's growing concern for vehicle safety and fuel economy. Because of this, there is an increased demand for lighter cars to cut down on gas emissions and increase fuel efficiency, which has helped the market for polyurethane elastomers grow. Because individuals are increasingly likely to wear shoes for everyday situations, sports, and leisure activities, as well as for light, comfortable, and durable footwear, the worldwide footwear sector is also seeing growth and demand for polyurethane elastomers. Rubber is added to polyurethane to create polyurethane elastomers.

COVID-19 Analysis:
Worldwide, the current coronavirus pandemic has had a significant negative impact on the construction sector, mostly as a result of significant project delays, labor shortages, supply chain disruptions, and financial hardship. These factors have had a negative impact on the forecast for the polyurethane elastomers sector, as PU elastomer goods are a crucial part of the manufacturing process for important building and construction products. However, the rising sales of sports gear and footwear since the start of the epidemic, fueled by a strong emphasis on physical fitness, may present prospects for market expansion in the years to come.

The global pu elastomers market segmentation:
1) By Type: Thermoset PU Elastomer, Thermoplastic PU Elastomer (TPU).
2) End User: Transportation, Industrial, Building and Construction, Mining Equipment, Medical, Agriculture, Oil and Gas, Electrical, and Electronics.

PU Elastomers Market Regional Analysis:
Due to the expansion of key end-use industries such as packaging, automotive, construction, electronics and appliances, furniture and interiors, and electronics, Asia-Pacific currently holds a dominant position in the polyurethane (PU) elastomer market. The growth of the polyurethane (PU) elastomer market in the area will also be aided during the projected period by the low cost of skilled Labor and a change in the manufacturing environment toward developing economies.

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Key player's in the pu elastomers market report are BASF SE, Chemtura Corporation (Lanxess AG), Huntsman Corporation, Tosoh Corporation, Kuraray Co., Ltd., Wanhua Chemical Group Co., LTD, Era Polymers PTY Ltd, Lubrizol, Covestro AG, Coim Group, Trelleborg, VCM Polyurethanes, TSE Industries, Sundow Polymers, Miracll Chemicals, Great Eastern Resins Industrial Co. Ltd.(Greco), Townsend Chemicals, Suzhou New Mstar Technologies, Sumei Chemical, Songwon, Avient, Taiwan PU Corporation, Tosoh Corporation, Argonics, Headway Group, Shandong Huada Chemical New Material, Others

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