-- Market Outline:
The future for global polyurethane (PU) market seems promising as it is set to reach the valuation of USD 81,700.6 million in 2022, surging at a CAGR of 6.51% during the forecast period (2016-2022), as per the forecast by Market Research Future (MRFR).
Competitive Dashboard:
The top players in the PU market include Eastman Chemical Company (U.S.), DIC Corporation (JAPAN), Tosoh Corporation (Japan), The Dow Chemical Company (U.S), Covestro AG (Germany), BASF SE (Germany), Huntsman Corporation (U.S), among others.
Get Your Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/2444
Industry Innovation Updates:
March 2019
Sika, a company with an expertise in specialty chemicals, has acquired Belineco LLC, manufacturer of polyurethane foam systems. The said acquisition will help Sika with the expansion of its knowledge along with an increased production capacity in the field of polyurethane foams
Growth Factors and Top Barriers:
Increasing demand from end-use industries for lightweight and durable materials is proving to be highly beneficial for the growth of the polyurethane market. These end-user industries include construction, furniture, footwear & packaging automotive, electronics and appliances. Moreover, PU finds widespread use in interior components, cushion foams, as well as other lightweight automotive parts to boost energy and fuel savings. The seat frames that have been molded using PU are at least 35% lighter compared to the metal stamped frames, whereas the innovative matrix resins that are utilized in composites like the Henkel Loctite glass-fiber reinforced leaf springs account for more than 65% of component weight savings.
Insulative and efficient foams can also be utilized in ‘green’ buildings along with other sustainable infrastructure projects in a bid to reduce the energy costs in advanced regions like North America and Europe. Green building tools like the NAHB Model Green Home Building Guidelines and LEED certification are giving way to product innovation that would cater to the credible and environmental building standards. But the growing environmental concerns as well as the volatile raw material prices could be a challenging factor for the manufacturers, slowing down the market growth to some extent.
However, with the growing importance of energy conservation on account of the volatile prices of crude oil, along with the factors mentioned above, the growth of the polyurethane market will not be affected much in the coming years. Elevated demand for lightweight and high-performance interior components that foster energy saving is going to be another key factor promoting the growth of the polyurethane market.
Industry Trends:
The polyurethane industry is highly concentrated, in addition to being oligopolistic in nature, where the renowned manufacturers holds more than 60% of the overall share. Top vendors like BASF & The Dow Chemical Company and Covestro as well as prominent multinationals are making efforts to expand their consumer base by entering int strategic alliances with smaller players, such as mergers and product development and launches.
For instance, BASF has recently developed thermoplastic polyurethane material grades which boast of being highly useful in the manufacturing of shoe shanks, which refers to the stiffening elements present between the outer and the inner sole of the shoe. This will help retain the shape of the shoe, and also help in improving the comfort aspect.
View Full Report Summary @ https://www.marketresearchfuture.com/reports/polyurethane-market-2444
Market Segmentation:
The market for polyurethane market is segmented on the basis of type and end-use industry.
The polyurethane market, depending on the type, caters to rigid foam, flexible foam, coatings, adhesives & sealants, elastomers and others. Among these, rigid foam finds application in the construction industry, used in insulations. In addition, the need for enhanced building energy efficiency is resulting in the strong growth of the rigid foam market. Flexible foam, on the other hand, is the leading segment as a result of the structural stability in electronic appliances and construction.
The polyurethane market, on the basis of end-user industry, is considered for construction, furniture, automotive, electronics appliances, footwear, packaging, others. Out of these, construction industry dominates the polyurethane market, owing to the increase in government spending in infrastructure, which is leading to the overall expansion of the construction industry in developing nations. Other than this, the growing consumer spending in interiors as well as furniture, with the product being used in upholstery and other applications will help expand the size of the polyurethane market in the coming years.
Regional Outlook:
The regions among which the global polyurethane market is spread across are Asia Pacific, Europe, Middle East and Africa as well as North America.
The vast pool of skilled workforce will be one of prominent reasons backing the extravagant growth pattern of the Asia Pacific (APAC) Polyurethane market. Moreover, the rise in per capita income, growth expansion of middle-class people in the emerging nations and the changing lifestyle will also bode well with the growth of the regional market in the coming years. China is considered the largest producer as well as consumer of polyurethane, which establishes its dominance over other nations in the region. India, Brazil, China, and Indonesia are the key contributing countries in the region, as they experience robust industry growth, furthering the market expansion in Asia Pacific. Also, the increasing demand for sealants and adhesives, particularly in the low-income households in order to save energy, will be another instrumental factor in the polyurethane market growth in the region.
In the past couple of years, Europe has experienced a substantial growth as a result of its position as a prominent player in the automobile sector and consumer appliances. Following the economic downturn, various government bodies in the region are increasing their focus on bio-based products as well as low-cost products that are highly durable. On the basis of these factors, the regional market in Europe will be faring extremely well in the forthcoming years.
Intended Audience:
Polyurethane manufacturers
Traders and distributors of Polyurethane
Production Process industries
Potential investors
Raw material suppliers
Nationalized laboratory
Contact Info:
Name: Abhishek
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312t Email: [email protected]
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/polyurethane-market-2444
Release ID: 493601
Google
RSS