Press release
Polyurethane Market | Expected to rise to USD 81,700.6 million in 2022 with CAGR of 6.51%
Polyurethane Market
Market Research Future (MRFR) recognizes the following companies as the key players in the global polyurethane market: BASF SE (Germany), The Dow Chemical Company (U.S), Huntsman Corporation (U.S), Tosoh Corporation (Japan), Covestro AG (Germany), DIC Corporation (JAPAN), Eastman Chemical Company (U.S.).
The market witnessed escalating growth owing to high demand of lightweight and durable materials in end user industries such as construction, automotive, electronics appliances, furniture, footwear, and packaging. Further, increasing demand of high performance and lightweight interior components, cushion foams in automotive parts to foster energy saving will fuel the demand for Polyurethane Market growth. Polyurethane do not melt on heating which is why called as thermosetting polymers. This is also expected to drive the product demand in market.
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However, volatile in MDI and TDI price range which is extensively used in polyurethane production can challenge major manufacturer. Fluctuation in crude oil prices may affect the Polyurethane Market price trend. Rising environmental concerns and lowering carbon emission and greenhouse gases has opened opportunities for manufacturers to switch to bio-based polyurethane in end user industries.
Regional Analysis:
Geographically, Asia-Pacific region represents highest market share in the Global Polyurethane followed by Europe and North America. China is largest producer and consumer of polyurethane owing to skilled labor, easy availability of raw materials and lenient government regulations. Countries like India are the growing market for Polyurethane due to favorable government regulations along with Make in India campaign started recently to foster the manufacturing activities in country.
Major players in automobile and construction industry are adopting low cost technology along with lightweight material for production. Hence, Polyurethane Market is anticipated to witness sustainable growth over the forecasted period.
North America and Europe region being prominent players in automobile and consumer appliances drive the insulators and sealants for energy efficiency in polyurethane market over the forecasted period. Rising government initiatives for Green Building in Europe and North America is also expected to drive the polyurethane market growth.
Industry/ Innovation/ Related News:
September 2017 – BASF SE (Germany), one of the key manufacturers of Polyurethane also having presence in Thailand, announced that one stop solution (Autofroth®) from the company makes polyurethane foam production at increased speed coupled with cost economizing the process. This helps the industries to speed up their processes and meet the global demands more rapidly. As Asia Pacific is the largest manufacturer of polyurethane materials and by this innovation it is anticipated to boost the market growth in the forecast period.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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