The Polyurethane Elastomers Market is expected to reach USD 22.57 Billion by 2028, according to a new report by Reports and Data. Polyurethane elastomers are synthetic or artificial rubbers that are composed of polymers. The polyurethane elastomers are profoundly divided into thermosetting elastomers and thermoplastic elastomers.
The preponderance of the polyurethane elastomers in the market is based on thermosetting polymers. The beneficial features of polyurethane elastomers are lightweight, high efficiency, and impact resistance. Mostly polyurethane is used in the manufacturing of coaster, gaskets and foam seals, automotive industry, suspense coating, elevator, surface coatings, and building and construction company.
Europe accounted for the second-largest share of 22.2% of the market in 2018. It is owing to the growing demand for PU products from various industries like packaging, automotive, furniture, and construction.
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The Key players in the Polyurethane Elastomers Market include:
BASF SE, DuPont, Mitsui Chemicals, Inc, Bayer CropScience Limited, Covestro AG, Huntsman International LLC, the Dow Chemical Company., Accella Polyurethane Systems, P+S Polyurethan-Elastomere GmbH & Co. KG, 3M.
Further key findings from the report suggest
The Polyurethane Elastomers Market is estimated to reach USD 22.57 Billion by 2028, at a CAGR of 5.20% during the forecast period.
The application of these polymers in footwear industry accounted for the largest share of 29.3% of the market in 2018.
The pigment additives segment is anticipated to witness the highest CAGR of 5.5% during the forecast period.
The thermoplastic polyurethane elastomers is expected to witness a higher CAGR of 5.6% during the forecast period.
The unique blend of properties of vulcanized rubber and simple processability of thermoplastic makes thermoplastic elastomers suitable to use in a broad range of applications in end-user industries such as consumer goods, building & construction, automotive, medical, and others.
Thermoplastic elastomers have exceptional physical properties such as chemical inertness, excellent dimensional stability, good vapor and gas transmission properties, and versatility.
The market in the Asia Pacific region accounted for the largest share of 32.3% of the market in 2018. The largest share is due to the developing automotive industry and growing polymer consumption. Moreover, key players are moving the production base to developing countries like China and India. The decrease of energy costs associated with heating and cooling conditions is further expanded towards the market growth in the region.
Various players are developing strategies to mark their presence in the industry.
Mitsui chemicals launched Fortimo and Stabio in 2015, which are utilized in chemical and abrasion segments.
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The global materials & chemicals industry has gained major momentum over recent years, owing to many favorable factors. Major factors contributing to industry revenue growth include rise in global populace and rapid surge in demand for essential consumer goods including soaps, detergents, personal care & hygiene products, cosmetics, and other consumer products. Other factors driving industry revenue growth are extensive use of raw materials & chemicals in various industries including buildings & construction, agriculture, food & beverage, power & energy, pulp & paper, textile, automotive, and consumer goods industries, rising environmental awareness among consumers worldwide, growing demand for eco-friendly and sustainable materials and chemicals, and rising demand for organic, high-performance chemicals.
For the purpose of this study, Reports and Data have segmented the market on the basis of Additives, Type, Application, and region:
Additives Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
Thermoset Polyurethane Elastomers
Thermoplastic Polyurethane Elastomers
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
Automotive & Transportation
Building & Construction
Adhesives & Sealants
Regional Outlook (Volume, Square Meters; and Revenue, USD Billion ; 2018-2028)
Middle East & Africa
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