Polyurethanes (PU) Market Size By Product (Flexible Foams, Rigid Foam, Adhesives & Sealants, Elastomers, Coatings), By Application (Construction, Automotive, Furniture & Interiors, Electronics, Footwear, Packaging), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, Poland, China, India, Japan, Australia, Malaysia, Indonesia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Apr 2016  |  Report ID: GMI387  |  Authors: Kunal Ahuja, Shreya Deb

Report Format: PDF   |   Pages: 180   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

 Industry Trends

Polyurethanes Market size was over USD 55 billion in 2017 and industry expects consumption above 27 million tons by 2024.
 

U.S. Polyurethanes (PU) Market Share, By Product, 2017 & 2024, (Kilo Tons)

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Rapid upsurge in demand for lightweight, flexible and durable products in automotive, furniture, electronics and packaging industries are likely to promote market demand. PU is highly used for resisting environmental factors such as solvents, heat, abrasion, acid and oil. Further, the product provides impact resistance, tear strength, hardness, abrasion resistance and tensile strength which makes it compatible for various applications thereby promoting market growth.
 

Rising government support and initiatives for energy efficiency by reducing the demand for fossil fuels and greenhouse gas emissions may further fuel product demand. In Europe, buildings utilize 40% of the overall energy consumed thereby generating approximately 35% of the greenhouse gas emissions which is a major concern and requires rapid energy efficiency solutions. Polyurethanes are majorly being used for energy savings and efficiency in buildings through various ways including roof, wall and pipe insulating thereby regulating temperature levels.
 

Global automotive industry was valued at over USD 2 trillion in 2017 and is expected to witness significant gains over the forecasted period. Increasing usage of polymer and plastic composites in lightweight vehicles and shifting trends towards fuel efficient vehicles may foster industry growth. These products offer light weight and high strength thereby leading to better response, short braking distance and better acceleration. Lightweight materials are highly required in electric, hybrid and plug-in hybrid electric vehicles which makes Pu materials compatible for automotive applications thereby promoting polyurethanes market growth.
 

These products are majorly prepared by reacting diisocyanate with polyols. The raw materials used in the manufacturing of these products includes methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and (Hexamethylene diisocyanate) HDI including other polyols. TDI is highly used for manufacturing PU for flexible foams, including bedding, furniture, packaging and carpet applications. These raw materials provide high energy efficiency and savings along with light weight thereby promoting market growth.
 

Polyurethanes (PU) Market Report Coverage
Report Coverage Details
Base Year: 2017
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Pages: 180 Tables, Charts & Figures: 215
Geographies covered (22): U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, Poland, China, India, Japan, Australia, Malaysia, Indonesia, Brazil, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, Application and Region
Companies covered (10): Bayer MaterialScience (Covestro), BASF, British Vita Unlimited, Foamex Innovations, Huntsman Corporation, Mitsui Chemicals, Nippon Polyurethane Industry Corporation Ltd., Recticel SA, The Dow Chemical Company (DowDuPont Inc.), Woodbridge Foam Corporation

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Polyurethanes Market, By Product

Flexible foams market demand may surpass USD 30 billion by the end of forecast period. PU products are used for manufacturing flexible foams with complex geometries majorly in utilized in the automotive and furniture industries for wide variety of applications including carpet, cushions, packaging, bedding and furniture. Flexible foams provide durability, comfort, energy absorption, resiliency, reduced ambient noise, increasing savings and reduced downtime, weight reduction and recyclability which may further promote market growth.
 

Polyurethanes coatings market size may register gains close to 4% by the end of 2024 owing to its high chemical and physical resistance and protection against corrosion, abrasion and weathering processes. These coatings are applied in applications which subjects to high wear and tear along with providing excellent gloss and color retention. The coatings provide high resilient properties, excellent chemical resistance, UV and acid-etch resistance along with excellent durability and protection.
 

 Polyurethanes (PU) Market, By Application

Polyurethanes market size from construction applications may witness significant growth of over 5% by the end of forecasted timeframe. Rapid construction activities and upcoming renovation projects majorly in Thailand, Malaysia, Indonesia and India is likely to promote market growth. Building insulation from polyurethanes are used in roofs, floors, pipes and cavity walls as these are safe, affordable and durable ways to reduce greenhouse gas emissions thereby reducing heat loss in commercial and residential spaces during cold climates. Also, these insulations are strong, easy to install, energy efficient and moisture resistant which may further promote its usage across construction applications.
 

Furniture & interiors applications were valued at over USD 11.5 billion in 2017 and is expected to witness high gains owing to changing favorable consumer perceptions towards the usage of plastic furniture pertaining to cheap prices and lightweight characteristics. These products are highly used in manufacturing cushions for round chairs, beds, armchairs and recliners owing to its affordability along with minimal aesthetics.
 

 Regional Insights

North America PU market demand led by Canada, Mexico and the U.S. may observe growth at above 4% by the end of 2024. Rapid changes in the automotive trends has boosted the demand for lightweight and fuel efficient vehicles providing overall comfort and affordability. Additionally, strict environment regulations in the region is forcing automobile manufacturers to focus on reducing greenhouse gas emissions and energy losses which may further boost product demand.
 

Europe polyurethanes market size led by Germany, France and UK was valued at over USD 18.5 billion in 2017. Rapid growth in the automotive industry along with presence of major manufacturers in the region is boosting the market growth. Rising trend of smart homes, strict government directives regarding energy efficiency has led to rapid increase in the consumption of these products as they provide great durability and light weight properties. Also, these products reduce the consumption of gas, electricity and oil thereby allowing the extraction of major raw materials through recycling owing to their petrochemical origin which further promote regional market growth.
 

Competitive Market Share

The polyurethanes market is moderately consolidated and less competitive consisting of industry players including BASF, Bayer, Huntsman Corporation, Mitsui Chemicals, Foamex Innovations and Nippon Polyurethane Corporation Ltd. Major players are highly engaging in research and development activities along with new product launches to capture market share and expanding global reach.
 

Industry Background

Polyurethanes are plastic materials which are manufactured from reacting polyols and diisocyanates. These products are highly durable and lightweight used in wide arena of applications which includes various industrial and consumer products. These are convenient, environmentally friendly and robust products. Various manufacturers are investing in R&D activities to produce products with better stretching characteristics and using improved catalysts which may provide higher growth opportunities in the polyurethanes market.


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