Polyurethane Market 2018: Trends, Size, Share, Growth and Forecast 2022

Market Research Future will be publishing a Cooked Research Report on Global Polyurethane Market that contains the information from 2016 to 2022. Global Polyurethane Market is expected to grow with the CAGR 6.51 % of more than from 2016 to 2022, and with this it is predictable to cross USD 81,700.6 million by 2022.

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.

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.

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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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Polyurethane Market 2018: Key Players, Development and Opportunities by Forecast to 2022

Polyurethane Market   - Overview
The Global Polyurethane Market is increasing with the impulsive pace; mainly due to the burgeoning construction industry. According to a recent study report published by the Market Research Future, The global market of Polyurethane is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2018 – 2022).

Globally, the market for Polyurethane is driven by the region Asia pacific, owing to the rise in the population resulting into increasing demand for Polyurethane based insulation materials in residential and non-residential applications. Polyurethane are extensively used in the furniture industry to provide cushioning products. In the recent years, polymer foams resume to grow at rapid pace owing to their light weight, strength to weight ratio, excellent thermal and acoustic insulation capabilities, nullifying the impulsive impacts by absorbing energy, and cushioning features. Recently, researchers found that Polyurethane foams are showing signs of biodegradation in the presence of fungus is expected to rise the market growth of polymer foams.

Rapid increase in construction activities owing to the Global Construction Market is expected to grow at a faster pace than world GDP over the next decade as Asian economies continue to industrialize and the US recovers from the sharp downturn during the global financial crisis is fuelling the polyurethane market in the forecast period.

Polyurethane materials are costlier but they are capable to deliver high performance for long run purposes. Applications of polymeric foams depend on the nature of polymer and their types. These high value added products widely used for cushioning, packaging, automotive safety, footwear, etc. The rigid foams are used for insulation in building, transportation; heating, ventilation, and air conditioning (HVAC), and packaging.

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Polyurethane Market   - Competitive Analysis
Acetone market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the acetone Market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for Polyurethane materials in construction and furniture industries will influence the end user products from these industries. Acetone market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.

 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.

September 2017 – The Dow Chemical Company (U.S.), is the major manufacturer of polyurethane materials in the world, has announced its new product (VORASURF™) polyurethane additives will benefit consumer satisfaction and energy conserving markets to help meet growing demand for high-performance materials in bedding, footwear and spray foam. As the furniture industry is booming in the U.S. region and coupled with rising disposable incomes are the factors favouring the growth of polyurethane market over the forecast period.

September 2017 – The Dow Chemical Company (U.S.), is the major manufacturer of polyurethane materials in the world, a business unit of DowDuPont Materials Science Division, has announced a cooperation agreement with Germany-based plant manufacturer H&S Anlagentechnik to produce the market for recycled polyols manufactured from disposed mattresses. The polyols recycled through the process can be applied into a variety of polyurethane applications. The move comes as the European bedding industry is assessing the impact of the European Commission’s 2015 Circular Economy Package, comprising new waste management targets for reuse, recycling and landfilling, strengthening provisions on waste prevention and extended producer responsibility. Also, this move creates a stronger competition between the key players resulting into innovation of better new products under the projection of changing environmental regualations.

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Polyurethane Market is expected to rise to USD 81,700.6 million in 2022 with CAGR of 6.51%

Synopsis of Polyurethane Market:
The global demand of Polyurethane Market is expected to rise to USD 81,700.6 million in 2022 with CAGR of 6.51% during 2016-2022. Polyurethane is versatile plastic polymer available in various forms right from rigid foam, flexible foam to strong and hard elastomers. Thus, this leads to usage of Polyurethane in variety of consumer and industry applications such as thermal insulation in building, refrigerators, household furniture, shoes, packaging plastics etc. Owing to its properties Polyurethane can be molded to any shape to enhance its industrial applications by providing comfort, style and convenience to one’s life. Polyurethane are widely used in construction and infrastructure activity. Thus, growing demand of polyurethane owing to durability with low thermal conductivity and ability to withstand external impacts is augmented to drive the overall market. 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.

Product Segment Analysis:
On basis of product, Polyurethanes are segmented into rigid foam, flexible foam, coatings, adhesives & sealants, elastomers, others. Rigid foam is widely used in insulations to increase building energy efficiency. These key properties helping the rigid foam market to grow in coming years. Flexible foams are expected to dominate the product demand owing to easy insulation in electronic appliances and construction industry. Elastomers possess high flexibility and strong impact & shock resistance which widely used in high performance materials. Thus, it is being emerging as faster growing segment in end user industries. Innovation in coatings and development of bio based Polyurethane is anticipated to drive the demand in developed regions.

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End User Industry Analysis:
Construction market is dominating market owing to growing infrastructure activities, rapid industrialization and increase in government spending in emerging economies such as China and India. Moreover, increasing government spending to improve public infrastructure in order to increase tourism and trading is propelling the demand of Polyurethane across the end user industry. Further, increase in consumer spending in interiors and furniture which is also consuming product in upholstery and other applications drives the Polyurethane Market growth.  Rise in population has led to increase in usage of vehicles. Thus, automotive market witnessed a significant growth owing to increase in artistic appeal automobile body parts in vehicles. Metals used in vehicles to provide structural strength along increase the energy saving with fuel efficiency has driven the Polyurethane Market in this segment.

Market Highlights:
Polyurethane consist of organic units including di-isocyanates, tri- isocyanates and polyols. The foam and non-foam polyurethane further modified by using surfactants. They are also known as thermosetting polymers which do not melts on heating. Growing importance of energy conservation due to volatile in prices of crude oil is anticipated to drive the polyurethane market growth. 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.
Based on types, Polyurethane is segmented into rigid foam, flexible foam, coatings, adhesives & sealants, elastomers, others. Growing importance of energy conservation along with reduction of carbon emission is expected to propel the product demand. Rigid foam is widely used in insulations in construction industry. The need to increase building energy efficiency are the key properties helping the rigid foam market to grow in coming years. Flexible foam is leading product segment owing to structural stability in construction and electronic appliances. Elastomers polymers not only offer benefits of plastics & rubber but also provide self-healing properties which also expected to contributed the market growth. The material possesses following properties such as high flexibility and strong impact & shock resistance for high performance applications in automotive industry. Development of eco-friendly coatings and bio-based polyurethane for green buildings is anticipated to drive the polyurethane market in developed regions.
      
Based on end user industry, Polyurethane is segmented into construction, furniture, automotive, electronics appliances, footwear, packaging, others. Construction industry is leading industry in polyurethane market. Increase in government spending in infrastructure has led overall development of construction industry in emerging economies. Thus, this remains key factors for driving the product consumption in insulations and sealants applications. Further, increase in consumer spending in interiors and furniture which is also consuming product in upholstery and other applications drives the polyurethane market growth.

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.

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