Industrial PU Elastomer Market Expected To Grow At A CAGR Of 6.5% During The Forecast Period

The global industrial PU elastomer market size was valued at around USD 7.5 billion in 2021 and expected to grow at a CAGR of 6.5% during the forecast period.

Industrial PU elastomers, also known as polyurethane elastomers, are high-performance materials used in a variety of industrial applications. They are formed by the reaction of isocyanate and polyol components, which results in a material with exceptional mechanical properties, such as high elasticity, durability, and resistance to abrasion, impact, and chemicals. Industrial PU elastomers are widely used in industries such as automotive, construction, electronics, and manufacturing, to make products such as seals, gaskets, rollers, and conveyor belts. They are preferred over other elastomers due to their high load-bearing capacity, flexibility, and resistance to wear and tear. The global industrial PU elastomer market includes manufacturers and suppliers of polyurethane elastomers, as well as related products and services such as raw materials, processing equipment, and maintenance and repair services.

Increasing demand from the automotive industry: The automotive industry is a major consumer of industrial PU elastomers, with these materials being used in applications such as suspension systems, engine mounts, and seals. The growth of the automotive industry, especially in emerging economies, is expected to drive the demand for PU elastomers.

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especially in emerging economies, is expected to drive the demand for PU elastomers.
Growing construction industry: The construction industry is another major consumer of industrial PU elastomers, with these materials being used in applications such as sealants, adhesives, and coatings. The growth of the construction industry, especially in developing countries, is expected to drive the demand for PU elastomers.

Some of the key players operating in the market include:
BASF SE
Covestro AG
Huntsman Corporation
The Dow Chemical Company
Wanhua Chemical Group Co., Ltd.
LANXESS AG
Mitsui Chemicals, Inc.
Era Polymers Pty Ltd.
Coim Group
Lubrizol Corporation

Market Segmentation:
Type:
• Thermoplastic polyurethane (TPU)
• Polyurethane foam (PU foam)
• Polyurethane adhesive (PU adhesive)

End-use industry:
• Automotive
• Construction
• Electronics
• Footwear
• Medical

Hardness:
• Soft
• Medium
• Hard

Application:
• Gaskets
• Seals
• Coatings
• Adhesives
• Insulation

Region
North America
• U.S.
• Canada
• Mexico

Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

South America
• Brazil
• Argentina
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa

Regional Analysis:
North America: North America is a mature market for industrial PU elastomers, with the US being the largest consumer of these materials in the region. The growth of the automotive and construction industries is expected to drive the demand for PU elastomers in the region.

Europe: Europe is another mature market for industrial PU elastomers, with Germany being the largest consumer of these materials in the region. The increasing demand for high-performance materials and growing applications in the automotive, construction, and medical industries are expected to drive the demand for PU elastomers in the region.

Asia-Pacific: Asia-Pacific is the fastest-growing market for industrial PU elastomers, driven by the growth of end-use industries such as automotive, construction, and electronics. China is the largest consumer of PU elastomers in the region, followed by India and Japan.

Middle East and Africa: The Middle East and Africa region is expected to see moderate growth in the demand for industrial PU elastomers, driven by the growth of the construction and automotive industries in countries such as the UAE and South Africa.

Latin America: Latin America is a growing market for industrial PU elastomers, driven by the growth of the construction and automotive industries in countries such as Brazil and Mexico.

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High demand for medical devices: The medical industry is a significant consumer of PU elastomers, with these materials being used in applications such as catheters, wound dressings, and surgical gloves. The high demand for medical devices, especially in emerging economies, is expected to drive the demand for PU elastomers.

Increasing demand from the electronics industry: The electronics industry is another major consumer of industrial PU elastomers, with these materials being used in applications such as potting and encapsulation. The growth of the electronics industry, especially in developing countries, is expected to drive the demand for PU elastomers.
Rising demand for polyurethane-based coatings: PU elastomers are widely used in the production of polyurethane-based coatings, which are used in various industries, such as construction, automotive, and furniture. The rising demand for these coatings is expected to drive the demand for PU elastomers.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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