Polyurethane Elastomers Market is anticipated to hit $21.67 billion by 2023 at a CAGR of 4.10%

According to the new market research report by IndustryARC 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)-Forecast (2018-2023)”, the market is driven by the escalating construction industry and increasing investments in polyurethane production.

Browse 76 Market Tables, 178 Figures spread through 170 slides and an in-depth TOC on “Wireless RAN Market (2015 - 2023)”

APAC held the largest market share in the Polyurethanes Elastomers Market
 
APAC region holds the largest market share and growth in the Polyurethanes Elastomers Market, and is anticipated to reach $8.40 billion by 2023 at a CAGR of 4.70%. Asia Pacific Polyurethanes Elastomers Market is mainly driven by the increasing construction activities and the presence of large producer of footwear across the globe. The key end-user industries in the region include Apparels, Appliances, Automotive, Building and Construction, Electronics, Furnishings, among others.
 
Selected Value Chain Analysis done in the full report

• The Value chain of Polyurethane Elastomers talks about the major steps involved in manufacturing raw materials and then imbibing them with pre polymers related polyurethane to polymerize them into polyurethane elastomers. The value chain starts off with refining crude oil to transform it into MDI (Methylene diphenyl diisocyanate)/TDI (Toluene Diisocyanate), and polyols, using various refining processes.
• Most of the Polyurethane Elastomer manufacturers initiate their integration into the value chain from purchasing raw materials and then polymerizing them into polyurethane elastomers, but a few of them like BASF, integrates into the value chain from the processing of raw materials such as polyether polyols and TDI/MDI polyester.
• All Polyurethane Elastomer manufacturers in the marketplace have their own, in-house polymerization facilities used to convert these raw materials into Polyurethane Elastomers.
• This forms the main reason why many of the manufacturers in the marketplace have their own units for the production of Polyurethane Elastomers.
• Value chain of Polyurethane Elastomers initially starts from procuring raw material which includes MDI (Methylene Diphenyl Diisocyanate)/TDI (Toluene Diisocyanate), and polyols. These raw materials and their processing charges add value to the end product.

Excerpts on Market Growth Factors

• Polyurethane Elastomers Market is driven by bio based renewable feedstock for the production of Polyurethane Elastomers.
• Growing demand for light weight automotive components is forcing polyurethane elastomers to their current boundaries. 
• The future of the polyurethanes industry is anticipated to be driven by the continual invention and revolution in both the chemistry and the polymer physics of highly versatile material and hence, research and development will continue to provide new capabilities.
• A recent trend in polyurethane elastomer production is the replacement of toluene di-isocyanates with less volatile polymeric isocyanates.
• Many driving factors like increasing strictness over emission standards from automobiles and industries has led to the development of polyurethane elastomers which makes the industry to work efficiently by providing proper sealing.
• Recently, Covertro and Tekmar Energy Ltd. have signed a cooperation agreement wherein they will develop durable subsea cable protection for China Offshore Wind Farm (OWF) market using cast Polyurethane Elastomers.
• Polyurethane Elastomers find their applications in numerous fields which include automotive, construction, packaging, furniture, footwear, and many more.
• Considerable polyurethane elastomers demand in European and Middle Eastern countries is likely to boost the market.
• Some of the major end user industries utilizing Polyurethane Elastomers are automotive, construction, packaging, footwear, furniture and interiors. Other industries with myriad applications of Polyurethane Elastomers include sports equipment, textile, industrial and medical to name among a few others.
• Cast polyurethane elastomers market is forecast to reach $5,838.1 million by the 2021 growing at a CAGR of 4.17% 
• Sprayed polyurethane elastomer market is forecast to grow at a CAGR of 2.98% and it is anticipated to reach $1,591.9 million by 2021.
• Thermoplastic polyurethane elastomers is forecast to reach $4,390.7 million by the 2021 growing at a CAGR of 4.29% 
• Global liquid injection molding polyurethane elastomers are anticipated to grow at a CAGR of 4.47% reaching $5,772.8 million by 2021.
• Millable polyurethane elastomers market is forecast to reach $1,567.5 million by the 2021 growing at a CAGR of 3.81%. 
• The market for polyurethane elastomers market with respect to the packaging is anticipated to see an upsurge during the forecast period. The market will reach $1,485.9 million till 2021 growing at a CAGR of 5.20%.
• The market for polyurethane elastomers market with respect to the electronics and appliances is anticipated to see an upsurge during the forecast period. The market will reach $1,820.4 million till 2021 growing at a CAGR of 4.22%

Key players of Polyurethanes Elastomers Market:

• The market is dominated by few key players with their popular brands and wide range of products. The competition among the key players is high in terms of price and geographical presence. A large number of players actually increase the rivalry in the market.
• This is followed by The Dow Chemical Co.(DuPont), accounting for 13% of the overall revenue. BASF SE and Huntsman together account for 14% of the overall revenue for the Polyurethane Elastomers Market.
• The major manufacturers of Polyurethane Elastomers are The Dow Chemical Company, Gallagher Corp., LyondellBasell Industries N.V, BASF SE Huntsman, and many others.
• Vencorex, Parchem fine & specialty chemicals, GNFC Ltd., Arpadis, Freeman, BASF are some of the major manufacturers of these raw materials used in the production of Polyurethane Elastomers.
• Bayer AG, BASF AG, and Dow Global Technologies have invested substantially in the R&D to develop solutions that can create product differentiation in the Polyurethane Elastomers market.