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Polyurethane Elastomers Market Size

Report ID: GMI3899
Published Date: Aug 2023
Report Format: PDF

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Polyurethane Elastomers Market Size

Polyurethane Elastomers Market was valued at USD 19.14 billion in 2023 and is anticipated to grow at a CAGR of 5.5% from 2024 to 2032. Polyurethane elastomers offer exceptional durability and wear resistance, making them ideal for applications where materials are subjected to abrasion, impact, and mechanical stress. The ability to formulate polyurethane elastomers with a wide range of mechanical properties allows for customization to meet specific application requirements.

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Polyurethane elastomers exhibit excellent flexibility and elasticity over a broad temperature range, making them suitable for applications requiring repeated bending and stretching. Polyurethane elastomers can be engineered to exhibit varying levels of hardness, from very soft to very hard, addressing a diverse set of end-use needs.

Polyurethane Elastomers Market Report Attributes
Report Attribute	Details
Base Year:	2023
Polyurethane Elastomers Market Size in 2023:	USD 19.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.5%
2032 Value Projection:	USD 30.98 Billion
Historical Data for:	2018 to 2023
No. of Pages:	200
Tables, Charts & Figures:	246
Segments covered:	Type, Processing Method, Application, End-use, Region
Growth Drivers:	Growing lubricants and adhesive industry Rising automotive industry Expansion of the consumer goods industry
Pitfalls & Challenges:	Raw Material Price Volatility Environmental Concerns Competition from Alternative Materials

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The cost of polyurethane raw materials, such as isocyanates and polyols, can be subject to fluctuations in global supply and demand, affecting production costs and profit margins. Polyurethane production involves isocyanates, which can pose environmental and health risks. Stricter regulations and demand for eco-friendly alternatives create challenges for the industry. Polyurethane elastomers face competition from other elastomers and advanced materials. Thus, the risks associated with Polyurethane elastomers may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of polyurethane elastomers was worth 19.14 billion in 2023 and will reach USD 30.98 billion by 2032 due to the widespread product usage in applications where materials are subjected to abrasion, impact, and mechanical stress.

Polyurethane elastomers market from the thermoplastic polyurethane segment was valued at USD 5.1 billion in 2022 and will witness significant CAGR from 2023-2032 on account of the excellent abrasion resistance of thermoplastic polyurethane.

The injection molding segment held 40% of the polyurethane elastomer industry share in 2022 and is expected to garner significant CAGR from 2023-2032 owing to the widespread applications in the automotive, electronics, and medical industries.

Covestro AG, BASF SE, Dow Inc., Huntsman Corporation, The Lubrizol Corporation, Wanhua Chemical Group Co., Ltd., Mitsui Chemicals, Inc., LANXESS AG, Chemtura Corporation, and Era Polymers Pty Ltd, are some of the major polyurethane elastomer companies worldwide.