Polyurethane Foam Market to Hit CAGR 6.9% Globally, By 2021
The global market for polyurethanes has been growing at a CAGR (2016-2021) of 6.9%, driven by various application industries, such as, automotive; bedding and furniture; building and construction; packaging; electronics and footwear. In 2015, Asia-Pacific dominated the global polyurethanes market, followed by Europe and North America.
The global polyurethanes market has been growing for the past five-years, driven by various application industries such as, automotive; bedding and furniture; building and construction; packaging; electronics and footwear.
In 2015, Asia-Pacific dominated the global polyurethanes volume market with almost 47% share, followed by Europe and North America with approximately 24% and 22% shares respectively.
In terms of volume, the global market for polyurethanes is expected to grow from 17,931.4 kilo tons in 2015 to xx,xxx.x kilo tons in 2016 at a year-on-year (YOY) growth rate of x.x%. In addition, the market is expected to grow at a five-year CAGR (2016 to 2021) of 6.9%, to reach xx,xxx.x kilo tons in 2021.
In 2015, flexible foam accounted for almost 38% of the global polyurethanes volume market, followed by rigid foam and elastomers with approximately 27% and 7% shares respectively
BASF, Bayer, Dow Chemical, Mitsui Chemicals, Nippon Polyurethanes, Trelleborg, Woodbridge are some of the major manufacturers of polyurethanes across regions.
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Raw material used for producing Polyurethane
Isocyanates- Diisocyanates are required to produce polyurethane which are characterized by an isocyanate (NCO) group that are highly reactive. Toluene diisocyanate (TDI) and methylene diphenyl diisocyanate (MDI) are the most common isocyanates used in the production of polyurethane. TDI is formed by chemically adding nitrogen groups on toluene and reacting those with hydrogen to produce dilamine and separating the undesired isomers. PMDI is derived from phosgenation reaction of aniline-formaldehyde polyamines.
Polyols- Polyols are compounds which contain multiple alcohol groups (OH) and are required to produce polyurethane. Polyether polyols are most commonly used for this purpose. These are polymers formed from cyclic ethers.
The scope of this report is broad and covers different types of polyurethanes used globally in various types of applications. The polyurethanes market is broken down by types, regions, and application industries. Value and volume projections are provided for current and future market of major type of polyurethanes, including their applications and regional markets.
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