Polyurethane Elastomers Market Set For Growth Driven By Surging Automotive Industry Demand: A Significant Driver Propelling The Polyurethane Elastomers Market In 2025

The Polyurethane Elastomers Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Polyurethane Elastomers Market Size and Projected Growth Rate?
The dimension of the polyurethane elastomers market has significantly expanded in the last few years. The market size is projected to increase from $19.56 billion in 2024 to $20.78 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.2%. The surge during the historic period can be traced back to factors such as industrial development and manufacturing proliferation, expansion in the automotive industry, application versatility, the rise of construction activities, and the growth in consumer goods production.

There is a strong expectation for the polyurethane elastomers market to experience significant expansion in the coming years. The market is predicted to reach a value of $25.61 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.4%. This growth projection for the forecast period can be linked to ongoing industrial development in emerging regions, changing needs within the automotive industry, a surge in construction and infrastructure development, the growing market for electronics and consumer goods, and an increased demand for personalized solutions. Key trends anticipated in the forecast period include the evolution of formulations and technologies, advancements in production technology, the growing application in the medical device field, a rise in construction and infrastructure usage, and progress in processing technologies.

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What Are the Major Segments in the Polyurethane Elastomers Market?
The polyurethane elastomers market covered in this report is segmented -

1) By Type: Thermoplastic Elastomers, Thermosetting Elastomers
2) By Processing: Injection Molding, Extrusion, Blow and Compression Molding
3) By Application: Automotive, Construction, Packaging Industry, Furniture And Interiors, Electronics And Appliances, Other Applications

Subsegments:
1) By Thermoplastic Elastomers: Styrenic Block Copolymers (SBC), Thermoplastic Polyurethanes (TPU), Thermoplastic Vulcanizates (TPV), Polyolefin Elastomers (POE)
2) By Thermosetting Elastomers: High-Density Polyurethane (HDPU), Reaction Injection Molded Polyurethane (RIMPU), Cast Polyurethane Elastomers, Flexible Polyurethane Elastomers

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What Are The Driving Polyurethane Elastomers Market Evolution?
The boom in the automotive sector is forecasted to spur the expansion of the polyurethane elastomers market. The automotive sector includes companies, organizations, and actions associated with the design, creation, production, marketing, and sales of automobiles. Polyurethane elastomers in this sector are relied upon to provide a versatile solution, balancing flexibility, resilience, and chemical resistance to boost the performance and lifespan of components. To illustrate, in December 2023, MarkLines Co. Ltd, an American online automotive information service, recorded US new vehicle sales of 1,242,376 units in November 2023. This was an increase of 2.6% from October 2023 and a surge of 8.8% from November 2022. Hence, the thriving automotive industry is fuelling the expansion of the polyurethane elastomers market. The growth in the residential and commercial construction sectors is anticipated to boost the polyurethane elastomers market. The construction of buildings for residential and commercial usage falls under this sector. Polyurethane elastomers, due to their versatility, durability, lightweight nature, cost-effectiveness, and reduced upkeep, are widely employed in these sectors. These benefits cause them to be a favored selection in numerous construction applications. For example, a report from Oxford Economics, a UK-based economic information service, indicated that global construction output totaled $10.7 trillion in 2020. It is expected to rise by 42 %, or $4.5 trillion, between 2020 and 2030, hitting USD 15.2 trillion. Therefore, the boom in residential and commercial buildings is fuelling the expansion of the polyurethane elastomers market.

Which Firms Dominate The Polyurethane Elastomers Market Segments?
Major companies operating in the polyurethane elastomers market report are BASF SE, Dow Inc., Lyondellbasell, Saint-Gobain Performance Plastics Corporation, 3M, Wanhua Chemical Group Co. Ltd., Covestro AG, Mitsui Chemicals Inc., DuPont, LANXESS AG, Huntsman Corporation, Tosoh Corporation, The Lubrizol Corporation, Polyone Corporation (Avient Corporation), Trelleborg AB, Stepan Company, Carpenter Technology Corporation, Rogers Corporation, INOAC CORPORATION, The Vita Group, Kingfa Science And Technology, Rogers Foam Corporation, RECKLI, Polytek Development Corp., Argonics Inc., Bayer Materialscience LLC, Renosol Corporation, Marchem, VCM Polyurethanes Pvt. Ltd., Cellular Moldings Ltd.

What Trends Are Expected to Dominate the Polyurethane Elastomers Market in the Next 5 Years?
Leading businesses in the polyurethane elastomers sector are pushing the boundaries of product innovation by introducing methods such as polyurea-based elastomer systems. These systems serve as hard-wearing, flexible and shielding layers that have found their uses in various industries including construction, automotive and marine. For example, Pearl Polyurethane Systems LLC, a UAE-based company specializing in tailor-made solutions for polyurethane applications, rolled out its new polyurea-based DuraPearl Elastomer System in March 2023. Predominantly used by spray coating contractors in projects like waterproofing, joint sealant, truck bed liner, pipeline and floor coating, the DuraPearl system stands out as it cures six times faster than its epoxy counterparts. This significantly enhances productivity and increases the speed of delivery for spray coating workers. Moreover, this is a cutting-edge, hard-wearing solution for challenging spray coating tasks, providing a blend of performance, sustainability, and simplicity of use.

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Which Is The Largest Region In The Polyurethane Elastomers Market?
Asia-Pacific was the largest region in the polyurethane elastomers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polyurethane elastomers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Polyurethane Elastomers Market?
2. What is the CAGR expected in the Polyurethane Elastomers Market?
3. What Are the Key Innovations Transforming the Polyurethane Elastomers Industry?
4. Which Region Is Leading the Polyurethane Elastomers Market?

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