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Polyurethane Elastomers Market Trends

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

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Polyurethane Elastomers Market Trends

The industry was witnessing a growing emphasis on sustainability, with a focus on developing bio-based or recycled polyurethane elastomers to reduce environmental impact. Researchers and manufacturers were exploring advanced formulations of polyurethane elastomers with enhanced properties, such as improved durability, wear resistance, and chemical stability. Demand for polyurethane elastomers customized to specific application requirements was rising, driving the development of tailor-made formulations.

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.