Press release
Polyurethane Market Set to Reach USD 114.41 Billion by 2030
Polyurethane Market
The global polyurethane market is experiencing substantial expansion, with its size valued at USD 80.23 billion in 2023. Projections indicate a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030, aiming to reach approximately USD 114.41 billion by 2030.
๐๐จ๐ฅ๐ฒ๐ฎ๐ซ๐๐ญ๐ก๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
Polyurethanes are versatile materials renowned for their high performance and durability. They are integral in various applications, including furniture, insulation, bedding, paints, coatings, adhesives, sealants, elastomer fibers, and rubberized products. In the construction industry, polyurethane is widely used for insulation purposes, contributing to energy efficiency in buildings. The automotive sector is also witnessing increased demand for polyurethane-based components due to their lightweight and impact-resistant nature, especially with the shift towards New Energy Vehicles (NEVs).
๐๐จ ๐๐๐ฅ๐ฏ๐ ๐๐๐๐ฉ๐๐ซ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ค๐ข๐ง๐๐ฅ๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/70607/
๐๐จ๐ฅ๐ฒ๐ฎ๐ซ๐๐ญ๐ก๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ฝ๐๐๐๐๐๐:
Vietnam's polyurethane market is projected to grow at a CAGR of 5.8% from 2024 to 2034.
The country's dynamic business environment and strategic location make it an ideal hub for accessing neighboring markets. Notably, a German polyurethane manufacturing giant has established its first factory in Vietnam, aiming to supply to markets including Thailand, Cambodia, Indonesia, Malaysia, the Philippines, and Australia, with potential future supply to South Korea and Japan.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ป๐๐๐๐๐๐๐ :
The polyurethane market in Thailand stood at USD 1.17 billion in 2021 and is estimated to remain the largest in Southeast Asia throughout the forecast period.
The country's robust construction and automotive sectors are key drivers of this growth.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฑ๐๐๐๐:
Japan's polyurethane market is experiencing steady growth, driven by advancements in automotive technologies and a focus on energy-efficient building materials. The demand for high-performance polyurethane products is on the rise, aligning with the country's commitment to sustainability.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ช๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐ ๐ฒ๐๐๐๐:
South Korea is witnessing consolidation in its polyurethane market, with major players expanding their production capacities. The focus is on catering to the growing demand in automotive and electronics industries, leveraging polyurethane's superior properties.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ผ๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐:
Singapore is updating its polyurethane market strategies, emphasizing sustainable and eco-friendly materials. The government's initiatives to promote green buildings are propelling the demand for polyurethane insulation products.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ฌ๐๐๐๐๐๐๐๐ ๐๐ ๐ผ๐๐๐๐๐ ๐บ๐๐๐๐๐:
The United States is experiencing significant growth in polyurethane consumption, particularly in the construction sector. Rigid polyurethane foam is favored for wall and roof insulation, insulated panels, and gap fillers, offering benefits like energy efficiency and high performance.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ซ๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ช๐๐๐๐:
China's polyurethane market is expanding rapidly, driven by the automotive industry's shift towards New Energy Vehicles (NEVs). In 2022, more than 3.4 million NEVs, including battery-electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs), were projected to be sold in China, indicating a boost in the polyurethane market.
๐ท๐๐๐๐๐๐๐๐๐๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฌ๐๐๐๐๐:
Europe is focusing on sustainability, with increasing demand for eco-friendly materials. This trend is leading to more products made from renewable sources, reducing reliance on fossil fuels. New recycling methods are emerging to reuse polyurethane waste, reflecting a growing focus on sustainability in manufacturing.
๐๐๐ฒ ๐๐๐๐๐ง๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
In October 2024, ๐๐ฎ๐ง๐ญ๐ฌ๐ฆ๐๐ง ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง announced the development of a new low-VOC polyurethane adhesive designed for automotive applications, aimed at enhancing vehicle durability while reducing environmental impact.
In May 2023, ๐๐จ๐ฌ๐ญ๐ข๐ค, a well-known adhesive expert worldwide, opened a new technology lab in Shanghai as part of an expansion of its R&D facilities.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/70607/
๐๐จ๐ฅ๐ฒ๐ฎ๐ซ๐๐ญ๐ก๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ ๐น๐๐ ๐ด๐๐๐๐๐๐๐
MDI
PDI
Polyols
Others
๐๐ ๐ท๐๐๐ ๐๐๐
Rigid Foam
Flexible Foam
Coatings
Adhesives & Sealants
Elastomers
Others
๐๐ ๐ฌ๐๐ ๐๐๐๐
Furniture and Interiors
Construction
Electronics & Appliances
Automotive
Footwear
Packaging
Others
According to End User, the building and construction sector led the polyurethane market's End User segment in 2023. because of its inherent qualities and wide range of applications. Polyurethane is perfect for a variety of building applications, including flooring, roofing, insulation, and sealants, because it provides outstanding insulation, durability, and adaptability. Its acceptance is also fuelled by its capacity to improve building energy efficiency, which is in line with international environmental programs. Rapid infrastructure development, urbanisation, and the growing global demand for energy-efficient solutions all contribute to the segment's supremacy. Additionally, polyurethane's status as a preferred material choice has been cemented by the development of novel products that are customised to the changing needs of the building industry.
๐๐จ ๐๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ฏ๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/request-sample/70607/
๐๐จ๐ฅ๐ฒ๐ฎ๐ซ๐๐ญ๐ก๐๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ:
North America
1. The Dow Chemical Company (USA)
2. Huntsman Corporation (USA)
3. DuPont de Nemours, Inc. (USA)
4. Carpenter Co. (USA)
5. Woodbridge Foam Corporation (Canada)
Europe
1. Covestro AG (Germany)
2. BASF SE (Germany)
3. Trelleborg AB (Sweden)
4. Recticel NV/SA (Belgium)
5. FoamPartner Group (Switzerland)
6. LANXESS AG (Germany)
Asia Pacific
1. Wanhua Chemical Group Co., Ltd. (China)
2. Mitsui Chemicals, Inc. (Japan)
3. DIC Corporation (Japan)
4. Sekisui Chemical Co., Ltd. (Japan)
5. INOAC Corporation (Japan)
6. Tosoh Corporation (Japan)
7. UBE Industries, Ltd. (Japan)
๐๐ข๐๐ฐ ๐๐จ๐ฉ๐ฎ๐ฅ๐๐ซ ๐๐จ๐ฉ๐ข๐๐ฌ ๐๐จ๐ฐ:
Global Processed Mango Product Market https://www.maximizemarketresearch.com/market-report/global-processed-mango-product-market/42767/
Global Zircon Sand Market https://www.maximizemarketresearch.com/market-report/global-zircon-sand-market/89123/
Global Magnetic Separator Market https://www.maximizemarketresearch.com/market-report/global-magnetic-separator-market/116659/
Global Active Hemostatic Agents Market https://www.maximizemarketresearch.com/market-report/global-active-hemostatic-agents-market/97666/
Global Filter Bag Market https://www.maximizemarketresearch.com/market-report/global-filter-bag-market/36299/
Global Phosphate Ester Market https://www.maximizemarketresearch.com/market-report/phosphate-ester-market/2600/
Global Audio Interface Market https://www.maximizemarketresearch.com/market-report/global-audio-interface-market/66820/
Global Robot Cars and Trucks Market https://www.maximizemarketresearch.com/market-report/global-robot-cars-and-trucks-market/19646/
Composite Rebar Market https://www.maximizemarketresearch.com/market-report/composite-rebar-market/218967/
Polymer Fillers Market https://www.maximizemarketresearch.com/market-report/polymer-fillers-market/147129/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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