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Bolstering
demands for lightweight and durable materials from various end-user industries
such as automotive, construction, furniture, electronics, and packaging have penetrated opportunities in the global polyurethanes market. According to a new IndustryARC business intelligence report, the
global polyurethanes market size was $55,112 million as of 2018, and foreseeing the hefty prospects in the consumer appliances, automotive, and
construction industry, the opportunities are expected to grow at a
compound annual growth rate (CAGR) of 6.55% through to 2025.
The report is
titled “Polyurethanes
Market: Product Type (Flexible Foam, Rigid Foam, Coatings, Adhesives, Sealants,
Elastomers, Others) Industry (Apparels, Appliances, Automotive, Building,
Construction, Furnishings, Marine, Medical, Packaging, Others) & Geography
- Forecast (2019-2025).” This report incorporates trends, growth drivers,
financial overview, business strategies, and recent developments in the global polyurethanes
market.
Global
Polyurethanes Market: Leading Segments
By geography,
APAC is the fastest growing region in the polyurethanes market. The market
grabs 41% of the total polyurethanes market demand share. Rambling construction in developing regions
such as India and China have instigated growth in the polyurethanes market.
Additionally, the popularity of commercial and residential furniture products
such as cushions, couches, and chairs has raised the demands in the
polyurethanes market. Growing construction for commercial purposes that employs
countless furniture products is also one norm advocating growth in the
polyurethanes market
Polyurethanes have a countless list of applications, but the analysts have highlighted three key applications industries: building and construction, automotive, and consumer appliances including furniture. Collectively, these segments are estimated to grow at a positive CAGR of 7.10% during the forecast period of 2019 to 2025. Technical advancements in the chemical industry have introduced variant appliances and applications for daily life, and the growing disposable income and the changing lifestyle of the population across the globe has induced growth in the global polyurethanes market demands.
Global
Polyurethanes Market Analysis
Polyurethane is
a polymer that consists of organic units combined with carbamate links. Most of
the polyurethanes do not melt when heated, these polyurethanes are called
thermosetting polymers and the other polyurethanes are known as thermoplastic
polyurethanes. Polyurethanes have a sea of applications, some of the end-user
industries that employ polyurethanes are mentioned below.
Construction
Industry:
Polyurethane is a high-performance material that is strong yet is lightweight.
They have multiple applications in the home such as flooring, furniture, and
insulation. Both rigid and soft polyurethanes are used in home appliances. As
per a report published from the Institution of Civil Engineers[1] , the
global construction market value is anticipated to touch $8 trillion by the
year 2030. With rampant development in the construction industry, the needs of
consumer appliances will also increase; subsequently incrementing demands in
the global polyurethanes market.
Automotive
Industry:
Automotive industry employs polyurethanes for making lightweight automotive
parts. In addition to the car body, doors, spoilers, and windows; car’s seats
are made comfortable using polyurethanes cushion foams. Polyurethanes also
ensures enhanced performance in automobiles by reducing weight and increasing
fuel economy, insulation, sound absorption, and comfort. According to the International
Organization of Motor Vehicle Manufacturers (OICA)[2] ,
more than 95 million vehicles were produced in the year 2018 including
commercial and passenger cars. With such an influx of demands in the automotive
industry, the opportunities in the global polyurethanes market are projected to
grow exuberantly.
Global
Polyurethanes Market Trends
Bio-Based
Foam:
Bio-based foam is a new vertical of development in by the chemical company BASF
SE. They use castor oil as a renewable raw material to develop complex foam apparatuses
that are both lightweight, compact, and provides excellent adhesion to a wide
range of surfaces.
Wind
Turbines:
Conserving and Production of energy have been the global goal for the century.
The limited supply of natural energy sources encouraged the development of
alternate energy sources such as solar, hydro, and wind energy. The blades used
in a wind turbine are being manufactured using polyurethanes as the products
withholds strong, flexible, durable, and lightweight properties.
Elastospray:
Elastospray
is a type of spray that turns into a foam on contact with the outside
environment. This product is being considered as the most advanced insulation
techniques introduced for commercial and residential complexes. The elastospray
is gaining popularity owing to its outstanding insulation properties, high
compressive strength, water-resistant, and most importantly environment
compatibility with null Ozone depletion potential.
Global
Polyurethanes Market: Competitive Landscape
Some of the key
players mentioned in the report that are currently leading the polyurethanes
market are Tosoh Corporation, RTP Company, LANXESS, Wanhua Chemical Group Co.,
Ltd, BASF SE, Covestro, DowDuPont, Huntsman Corporation, Bayer MaterialScience
AG, Mitsui Chemical Inc, Woodbridge Foam Corporation.
Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=11682
Related Reports:
A.
Plastics
Electric Vehicles Market
https://www.industryarc.com/Report/11655/plastics-electric-vehicles-market.html
B.
Thermoplastics
Elastomers Market
https://www.industryarc.com/Report/11670/thermoplastic-elastomers-market.html
What
can you expect from the report?
The
global polyurethanes market is prepared
with the main agenda to cover the following 20 points:
1.
Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2.
Market trends & Relevant Market Data 12. Country level Analysis
3.
Manufacturer Landscape 13. Competitor Analysis
4.
Distributor Landscape 14. Market Shares Analysis
5.
Pricing Analysis 15. Value Chain Analysis
6.
Top 10 End user Analysis 16. Supply Chain Analysis
7.
Product Benchmarking 17. Strategic Analysis
8.
Product Developments 18. Current & Future Market
Landscape Analysis
9.
Mergers & Acquisition Analysis 19. Opportunity Analysis
10.
Patent Analysis 20. Revenue and Volume Analysis
Frequently
Asked Questions:
Q.
Does IndustryARC provide customized reports and charge additionally for limited
customization?
Response: Yes, we can
customize the report by extracting data from our database of reports and annual
subscription databases. We can provide the following free customization:
1.
Increase the level of data in application or end user industry.
2.
Increase the number of countries in geography chapter.
3.
Find out market shares for other smaller companies or companies which are of
interest to you.
4.
Company profiles can be requested based on your interest.
5.
Patent analysis, pricing, product analysis, product benchmarking, value and
supply chain analysis can be requested for a country or end use segment.
Any
other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting
services.
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