Polyurethane Market Size, Share and Industry Outlook Report by Product (Rigid Foam, Flexible Foam, Coatings, Adhesives & Sealants, Elastomers), and Application (Furniture and Interiors, Construction, Electronics & Appliances, Automotive, Footwear, Packaging), Regional Analysis, Application Potential, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Nov 2019  |  Report ID: GMI387  |  Authors: Kunal Ahuja, Kritika Mamtani

Report Format: PDF   |   Pages: 170   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Overview

Polyurethane Market size exceeded USD 59.5 billion, globally in 2018 and is estimated to grow at over 5.8% CAGR between 2019 and 2026 owing to the emergence of sustainable polymer formulations which help reduce automotive weight, enhance fuel efficiency, and contribute to minimal environmental degradation.
 

Polyurethanes are versatile plastic materials which are composed of organic units joined by carbamate links. The polymer is traditionally produced by a chemical reaction between diisocyanate and polyol. Polyurethanes are widely served in various industries such as automotive, electronics and packaging owing to their low temperature stability & durability. PU offers high load bearing capacity, tear resistance and effective electrical insulating properties which makes them suitable for harsh environmental conditions.
 

Polyurethane Market Outlook

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According to the department of energy, heating & cooling accounts for 48% of the energy use in the U.S. household. Polyurethanes offer sustainable solutions in improving energy efficiency of the buildings. With rising government initiatives to promote efficient building structures, manufacturers are now increasing the use of high performance thermosets to deliver high performance for a long run.
 

The versatility of PU makes it suitable for a broad range of construction applications. They are used in residential & commercial roofs, panels, doors and walls to reduce energy consumption owing to their superior insulating properties.
 

Global construction industry spending amounted to USD 11.4 trillion in 2018. Ongoing urbanization have boosted the demand for efficient infrastructure development. Insulation materials based on PU offer extremely low emission levels, provide high compressive strength and low thermal conductivity. The polymer offers superior bonding properties, high flexibility & provides protection against moisture.
 

The U.S. Toxic Substance Control Act (TSCA) evaluates potential risks from new, existing chemicals and acts to address any unreasonable risks chemicals may have on human health and environment. The act establishes a framework to identify commercial chemicals that present unreasonable risks and to regulate product lifecycle of a chemical so that it no longer presents any risks to the environment.
 

Environmental stability & high versatility to boost rigid PU foam growth

Polyurethane Market by Product

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Rigid foams market may witness significant gains at over 5% by the end of forecasted period. Polyurethane based rigid foams are used as insulating materials in electronics and construction industries owing to their high temperature & moisture control and ability to provide noise reduction. Rigid polyurethane foams are suitable for use in cavity walls, internal linings, pipes & tanks and pitched roofs as they are non-hazardous materials which do not require special handling, storage.
 

PUR rigid foams are widely served in various applications as an insulation material. These foams provide low thermal conductivity and high durability which makes them a suitable alternative for other plastic foams. Boosting infrastructure projects have shifted consumer inclination towards the use of energy saving construction materials which shows huge opportunities for the polyurethane market. PU is applied on different building components to enhance internal & external insulation, reduce heating & cooling loss and provide a comfortable living environment.
 

Furniture industry growth to drive polyurethane demand

Polyurethane Market by Application

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The luxury furniture industry was valued at over USD 25 Billion in 2018 owing to rising number of commercial spaces and improving living standards. Furniture & interiors, construction, electronics & appliances, automotive, footwear and packaging are the major applications in the polyurethane market. With increasing consumer spending on home decor, manufacturers are focusing towards the development of high-quality luxury furniture.
 

PU polymer provide highly durable finish, offer resistance to heat & chemicals and are easy to apply. The polymer is used for beds, office chairs and tables owing to its comfort and sophisticated design. Increasing consumer expenditure on high quality interior designs which offer product longevity and add on to the aesthetic appeal should elevate the growth of polyurethane market .
 

Automotive manufacturing to drive polyurethane demand in Europe

Germany polyurethane market share from automotive applications may witness gains at above 4.5% by 2026. High durability coupled with energy conservation nature of PU makes them ideal for various automotive applications. Polyurethane foams are used in armrests, headrests and seats owing to their superior comfort and cushioning properties. The product is also used in the manufacture of headlights & signal lights as they ensure high bond strength and effective UV resistance.
 

High quality automotive interiors made from PU foams allow low heat transfer and ensure weight reduction which makes them suitable alternative to metallic components in vehicles. Presence of several automotive manufacturing plants in the region has resulted in stiffer environmental norms owing to growing carbon footprint. This has significantly promoted the use of low emission materials in vehicle manufacturing.
 

Collaboration among Industry players to remain key growth strategy

In March 2018, Huntsman Corporation announced the acquisition of Demilec, a manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications. This acquisition will integrate and expand Demilec into polyurethanes business and deliver improved energy efficiency solutions for various applications.
 

In August 2018, Mitsui Chemicals introduced its new polyurethane system house in India. The new system house known as MCNS Polyurethanes India Pvt. Ltd. operates as a joint venture of Mitsui Chemicals and SKC Polyurethanes Co., Ltd. . This new subsidiary will be manufacturing and selling polyurethane products and has been built up with an annual capacity of 15,000 tons per year which will provide high-quality polyurethane foam material formulations to meet customer requirements.
 

In September 2018, BASF, a global manufacturer of chemicals, introduced its new polyurethane production facility in Taiwan. This expanded capacity will meet the growing demand for PU material across various industries and will serve customer requirements in Asia Pacific.
 

Several major players are involved in various strategic collaborations to improve their market presence and gain a competitive edge in the industry. Global polyurethane industry consists of players such as BASF, Bayer MaterialScience, Mitsui Chemicals, Huntsman Corporation and The Dow Chemical Company.
 

The polyurethane market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Ton’s revenue in USD from 2015 to 2026, for the following segments:

By Product

  • Rigid Foam
  • Flexible Foam
  • Coatings
  • Adhesives & Sealants
  • Elastomers

By Application

  • Construction
  • Automotive
  • Furniture & Interiors
  • Electronics
  • Footwear
  • Packaging
     

The above information has been provided for the following regions and countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Malaysia
    • Indonesia
  • Latin America (LATAM)
    • Brazil
    • Argentina
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE

 

Frequently Asked Questions (FAQ) :

Polyurethane market size had exceeded USD 59.5 billion in 2018 and will witness a CAGR of about 5.8% over 2019-2026 with the emergence of sustainable polymer formulations that make less environmental impact.
Polyurethanes are used for manufacturing automotive, electronics, furniture, and packaging products owing to their durability, high load bearing capacity, and tear resistance.
BASF, Bayer MaterialScience, Mitsui Chemicals, Huntsman Corporation and The Dow Chemical Company are some of the prominent players in polyurethane industry.
German polyurethane market will witness a CAGR of above 4.5% through 2026 with rising automotive application in making armrests, headrests, seats, etc. due to superior comfort and cushioning properties.
Rigid polyurethane foams market will register CAGR of 5% through 2026 with increased application as insulating material in electronics and construction sectors owing to high temperature & moisture resistance.

Premium Report Details

  • Published Date: Nov 2019
  • Pages: 170
  • Tables: 185
  • Charts / Figures: 30
  • Companies covered: 10
  • Countries covered: 22

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