Synthetic and Bio Polyurethane (PU) Market Share, Growth, Trends and Forecast, 2016 – 2023

The Research Report on “Synthetic and Bio Polyurethane (PU) Market Size, Potential Industry Outlook Report, Regional Analysis (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Price Trends, Application Development, Competitive Landscape & Forecast, 2016 - 2023”, Global bio polyurethane market size was estimated at over 1,500 tons in 2014. It is obtained from reacting bio polyols with diisocyanates with biomass, varying from 30-70%.This variation depends upon the feedstock used for polyol production. Soybean oil, castor oil, rapeseed oil and sunflower oil are key raw materials for the green/bio polyols market.

Increasing application scope as thermal insulators, flooring materials and sealants in construction sector is likely to drive polyurethanes market growth. Among GCC nations in the Middle East, Saudi Arabia dominated the construction market with 43% of the total share and disclosed an estimated budget of over USD 1 trillion worth of projects planned in 2013. UAE was the second largest construction market in GCC nations with an estimated budget of USD 727 billion planned in 2013.

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Flexible PU foam market dominated the overall consumption and accounted for over 38% of the total volume in 2013. These foams are widely preferred for its use in automotive seating, bedding, upholstery, textiles and tennis racquet grips.

These foams accounted for more than 25% of the total consumption in 2013. Automotive production growth, particularly in Asia Pacific and Latin America is likely to drive polyurethane market price and demand. Global automobile sale was close to 82.6 million units in 2012 and is likely to reach 104.6 million units in 2018 growing with an estimated CAGR of 4%. It is used for manufacturing seating, armrests, headrest, headliners and dashboard. It use in the automobile industry in the form of lightweight plastics can result in increase fuel efficiency and reduced carbon emissions.

Properties such as durability and abrasion resistance makes PU based varnishes to be preferred in hardwood floors applications. Coatings are widely gaining importance as it provides wood floor finishes, thereby likely to increase its demand.

Development of 100% bio-based PU may serve as drop-in substitute for their synthetic counter parts and also replace in most of the applications. Many companies are collaborating with biotechnology firms to produce bio PU.

The demand for CASE (coatings, adhesives & sealants and elastomers) are comparatively less and can be tailored made to be used in application such as waterborne urethanes, plastics and woods. More than 70% of vehicles by Ford Motor Company contains seat component derived from bio based PU foams.

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The global polyurethane market share is dynamic & highly competitive and also depends upon innovation & product development for applications. Presence of highly unorganized market in Asia Pacific poses threat to multinationals in terms of quality and price offered. Key companies operating include Dow Chemical Company, Bayer, BASF, Recticel S.A., Mitsui Chemical, British Vita Unlimited, Huntsman and Woodbridge Foam Corp.

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https://www.gminsights.com/industry-analysis/synthetic-and-bio-polyvinyl-chloride-pvc-market

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