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, 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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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.
Key players of the Global Polyurethane Market are 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.).
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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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.
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