Global Polyurethane Market is expected to record a positive CAGR of ~5% during the forecast period 2022-2028: Ken Research

What is the Size of Global Polyurethane Industry?

Global Polyurethane market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Polyurethane Market is largely driven by rising building insulation demand brought on by environmental concerns.

Due to the material's availability in a variety of forms, including rigid, flexible, coatings, adhesives, sealants, and elastomers, polyurethane sells through a network of well-established end markets. Another factor contributing to the possibility of continued market expansion is the consumer market's interest in sustainability.

Environmental awareness has accelerated manufacturers' move to raw materials and production techniques that are viewed as eco-friendlier and more sustainable than alternatives, which is influencing consumers' changing purchasing habits.

The global construction sector is positioned to be a catalyst for COVID recovery and economic growth. The pace attained by the sector during the post-covid recovery phase helped boost the market of PU products. Many significant suppliers, along with emerging companies and startups, started delivering bio-based/recycled alternatives for Polyurethane feedstock.

Global Polyurethane Market By Product

The Global Polyurethane market is segmented by Product into Rigid Foam, Flexible Foam, Molded Foam, Elastomers, Adhesives & Sealants, Coatings and Others. Rigid Foam segment holds the largest share of the Global Polyurethane Market in 2022 due to its durability, energy savings, moisture management, and insulating characteristics. Polyether or polyester polyols can be used to create flexible polyurethane foam slab stock. They have porous constructions, smaller bulk densities, and larger sag factors. Major application areas of flexible polyurethane foams are mattresses, acoustic dampers, and seat cushions.

Global Polyurethane Market By Raw Material

The Global Polyurethane Market is segmented by Raw Material into Polyol, Methylene Diphenyl Diisocyanate (MDI), Toluene Diisocyanate (TDI) and Others. The polyol segment is likely to hold the highest market share during the forecast period in Global Polyurethane Market in 2022.

When the required polyurethane is going to be used to create flexible foams or thermoset elastomers, various polyether polyols, such as polyethylene glycol, polypropylene glycol, and polytetramethylene glycol, are generally used.

The major product that TDI produces is flexible polyurethane foam, which is utilized in a variety of common items like furniture, bedding, carpet underlay, and packaging. Some paints, sealants, adhesives, and elastomers are also made using TDI.

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Global Polyurethane Market By End-User

The Global Polyurethane market is segmented by End-User into Furniture & Interiors, Mattresses/ Bedding, Building and Construction, Electronics and Appliances, Automotive, Footwear, Packaging and Others. The Building and Construction segment holds the largest market share in the Global Polyurethane Market in 2022 as high-performance items that operate well, are robust but lightweight, durable, and versatile are made with polyurethanes. Polyurethane is commonly used in building and construction Raw Materials due to its great strength-to-weight ratio, insulating characteristics, durability, and adaptability.

Market Taxonomy

By Product

Rigid Foam
Flexible Foam
Molded Foam
Elastomers
Adhesives & Sealants
Coatings
Others

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By Raw Material

Polyol
Methylene Diphenyl Diisocyanate (MDI)
Toluene Diisocyanate (TDI)
Others

By End User

Furniture & Interiors
Mattresses/ Bedding
Building and Construction
Electronics and Appliances
Automotive
Footwear
Packaging
Others

By Geography

North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Indonesia, Australia, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/business-research/global-polyurethane-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.