Polyurethane Composites Market Analysis, Manufacturing Cost Structure, Growth Opportunities and Restraint to 2025
The global polyurethane composites market is prophesied to gain a telling impetus owing to a wide scope of applications available for industry players to cash in on. Polyurethane composites are studied to be a multipurpose thermoset polymer matrix that could up its market growth on account of the desperate pursuit of chemists and scientists to develop quality, automated, and fast composite production.
The usage of chopped fibers in the development of suitable formulations for fabrication procedures could have been key for the evolution of the polyurethane composite platform. On account of its outweighing automation level, versatility, and comparatively lesser initial capital requirements (open mold), the fiber composite spray (FCS) technology is anticipated to receive a strong momentum in the foreseeable future. However, the development of long-fiber injection (LFI) technology is envisaged to immeasurably benefit the automobile and industrial applications sectors. For instance, the LFI technology could be applied for tractor bonnets or manhole covers.
Continuous fiber reinforcement composites are prognosticated to receive a significant focus because of their enhanced properties that they are capable to offer. The closed nature of processes such as resin transfer molding (RTM) and structural reaction injection molding (S-RIM) could prove them as favorable technologies for polyurethanes. The development of polyurethane systems for the pultrusion process using closed injection method demonstrated low pull forces, good surface luster, and fast speeds. Coupled with the absence of diluents, polyurethanes could be an attractive and a tangible option for an environment-friendly and a clean pultrusion process.
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Global Polyurethane Composites Market: Overview
Polyurethane composites have recently forayed into foamed structural RIM automotive interior and exterior parts such as package shelves, load floors, and pick-up truck boxes. Used for anti-corrosion, reinforcement, in engineering components, electrical insulation, in aircrafts, trains and cars, and wear and tear protection, polyurethane composites are systems that are processed into molded parts or coatings, in combination with fillers, short, or long fibers. The method involves the use of either a conventional composite manufacturing procedure or casting, spraying, liquid resin press molding.
The report includes a detailed analysis of the key trends, opportunities, growth drivers, and restraining factors in the market for polyurethane composites. The major market players are analyzed in detail wherein factors such as their business strategies, market shares, and product portfolios are studied. The supply and demand ratio, market dynamics, market attractiveness, technological advancements, and market projections have been revealed along with relevant statistical data.
Global Polyurethane Composites Market: Drivers and Restraints
As polyurethane composites are manufactured with rigid thermoset resins, they possess superior strength and greater resistance to abrasion and heat when compared with composites that use vinyl ester resins and unsaturated polyester. Research shows that polyurethane composites save more than 20% of the weight of non-automotive applications. This is expected to augment the growth of global polyurethane composites market.
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Polyurethane composites are environment friendly as they are recyclable. Furthermore, compared to polyester spray-ups, polyurethane composites are much faster and convenient to use, as polyester spray-ups require rolling out the glass to release air. The tooling and labor costs are also lower. All these advantages will aid the growth of global polyurethane composites market.
Fiber glass polyurethane composites are likely to emerge as one of the most promising segments by type. Factors such as durability, light weight, resistance to moisture and heat, and flexibility account for the opportunities presented by this segment. By end user, the transportation segment is projected to hold a major share in the market for polyurethane composites, owing to the heightened demand exhibited by the automotive industry. The market will witness abundant opportunities on account of the growing number of applications ranging from electric light poles to bathtubs. On the other hand, strict regulatory policies are likely to limit market growth.
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Global Polyurethane Composites Market: Regional Outlook
Based on geography, the global market for polyurethane composites can be segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. North America has been a prominent market for polyurethane composites and is expected to retain its strong position in the years to come. The growth in this region has been attributed to rigorous construction activities aimed at upgrading public infrastructural facilities.
Asia Pacific has been displaying a surge in demand for polyurethane composites. This demand is driven by growing number of end users such as electrical and electronics, transportation, and building and construction. Recently, these industries have been expanding at a phenomenal rate in Asian countries such as China, India, and Japan, thereby generating significant prospects. Mexico is another regional market that will present immense opportunities over the coming years due to improving standards of living.
Companies Mentioned in the Report
The key companies operating in the market for global polyurethane composites include Bayer AG, Toray Industries, Inc., SGL Group, BASF SE, Hexcel Corporation, The Dow Chemical Company, Huntsman Corporation, Sekisui Chemical Co., Ltd., and Wanhua Chemical Group Co., Ltd. Growing costs of energy generation coupled with awareness about greenhouse effect have led major companies to boost their energy-efficiency levels.
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