The Global Polyurethane Additive Market is predicted to touch USD 3.5 billion at a 6.77% CAGR between 2017-2025, reveals the latest Market Research Future (MRFR) report. Polyurethane Additives are used for making high-performance products that are lightweight, yet strong, are versatile and durable, and perform well. Some of its different types include flame retardants, fillers, stabilizers, emulsifiers, catalysts, antioxidants, and others.
Various factors are propelling the Polyurethane Additive Market Growth. These factors, as per the new Market Research Future (MRFR) report, include rising demand from the footwear and furniture industry, rapid urbanization, increasing disposable income, reduction in energy costs related to cooling and heating needs, and increasing applications of rigid foams for insulation purposes. Additional factors propelling the growth of the polyurethane additive market include growing demand for cost-effective and more innovative additives, increasing use of bio-based products to manufacture greener products, burgeoning demand for cost-effective and innovative additives, and growing demand from building and construction industry, and automotive industry.
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On the flip side, stringent government regulations and volatility in raw material costs are factors that are likely to impede the Polyurethane Additive Market growth over the forecast period.
Major Players Profiled in the Polyurethane Additive Market Report include Suzhou Xiangyuan Special Fine Chemical Co., Ltd (China), Air Products and Chemicals, Inc. (US), Momentive (US), The Dow Chemical Company (US), Tosoh Corporation (Japan), Huntsman International LLC (US), Kao Corporation (Japan), Evonik Industries AG (Germany), Covestro AG (Germany), and BASF SE (Germany). Key players have used numerous strategies to create a niche in the market, such as collaborations, mergers and acquisitions, and partnerships.
October 2019: Songwon Industrial will soon launch a new series of flame-retardant synergists at K 2019. This new series, with its synergistic effects, have been specially designed to offer competitive advantages and high performance in an array of applications.
The MRFR report provides an all-inclusive segmental analysis of the Polyurethane Additive Market based on End Use Industry, Applications and Type.
Based on Type, the Polyurethane Additive Market is segmented into flame retardants, fillers, stabilizers, emulsifier, catalysts, antioxidants, and others.
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Based on Applications, the Polyurethane Additive Market is segmented into adhesives and sealants, coating, rigid foam, flexible foam, and others.
Based on End Use Industry, the Polyurethane Additive Market is segmented into packaging, furniture, automotive and transportation, building and construction, and others.
By Region, the Polyurethane Additive Market Report covers the latest trends and growth opportunities across the Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Of these, the APAC region will command the largest share in the market over the forecast period. This is chiefly on account of its growing demand due to increasing construction activities that are undertaken by private and government players alike. South Korea, Japan, India, and China are the key contributors in the region as they are investing heavily in infrastructural activities. Moreover, increasing demand for elastomers in the building and construction industry, increasing applications of rigid foams in insulation, and reduction in energy expenditure associated with cooling and heating needs is also adding to the market growth. China, as well as India, are predicted to lead the market due to the application of Polyurethane Additives in end use industries and the burgeoning demand for superior quality consumer products.
The Polyurethane Additive Market in North America is predicted to have the second-largest share in the market over the forecast period. This is chiefly on account of increasing demand from the automotive sector, particularly the sports car sector and growing reconstruction activities. Polyurethane Additives are widely used in aircraft manufacturing.
The Polyurethane Additive Market in Europe is predicted to have substantial growth over the forecast period owing to growing demand from the building and construction industry.
On the other hand, the Polyurethane Additive Market in the MEA and Latin America is predicted to have moderate growth over the forecast period chiefly on account of its extensive use in the automotive and construction industry.
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