About Polyurethane Elastomer
Polyurethane elastomer is a term used to refer to an elastomer called rubber, a polymeric material. They have uses various application, including footwear, transportation, construction, machinery, etc. Polyurethane elastomer comprises physical properties that can combine the strength of rigid plastic metals and ceramics, as Polyurethane elastomers are resistant to oil, grease, and other environmental conditions. There are the wide range of advantages, including flexibility, long-lasting, and both viscous and elastic. Polyurethane elastomers have an elastic nature, thus they produce the most flexible and damage-resistant molded parts. Furthermore, Ongoing research and development in the fields of polymer chemistry and material science leading to the development of improved formulations and manufacturing processes for polyurethane elastomers thus above mention factor can accelerate the growth of the Polyurethane elastomer market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The polyurethane elastomer market is dynamic, with companies continually working on research and development to introduce new formulations and technologies. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Covestro (Germany), VCM Polyurethanes Pvt. Ltd. (India), Huntington Ingalls Industries (United States), BASF SE (Germany), Polytek Development Corp (United States), Lanxess (Germany), Crosslink Technology Inc. (Canada), ESCO Plastics Webdesign by Global Graffiti, Inc. (United States), Trelleborg (Sweden), Hapco, Inc (United States), Woodbridge (Canada), Dow (1995-2023) (United States), Tosoh Europe B.V. (Japan), Eastman Chemical Company (United States), Tosoh Corporation (Japan), Precision Elastomers, Inc. (United States), LANXESS AG (Germany), The Lubrizol Corporation (United States), Sumitomo Chemical Company (Japan) and Huntsman International LLC. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Polyurethane Elastomer market by , Application (Seals and Gaskets, Wheels and Rollers, Coatings, Springs and Suspension Components and Others) and Region.
On the basis of geography, the market of Polyurethane Elastomer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Type, the sub-segment i.e. Castable Elastomers will boost the Polyurethane Elastomer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Raw Material, the sub-segment i.e. Isocyanates will boost the Polyurethane Elastomer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industrial Vertical, the sub-segment i.e. Automotive Industry will boost the Polyurethane Elastomer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increased the demand for customized polyurethane elastomers for specific applications.
Market Growth Drivers:
Increased the use of Polyurethane Elastomers in expansion of automotive, construction, industry.
Challenges:
Environmental concern such as pollution and climate change and Handling isocyanates during the manufacturing process poses health and safety risks for workers.
Restraints:
Fluctuations in Raw Material Prices such as isocyanates and polyols.
Opportunities:
Focus on innovation in Bio-based Polyurethane Elastomers and Increasing demand of lightweight and high-performance Polyurethane Elastomers materials in automotive industry
Market Leaders and their expansionary development strategies
In January 2023 – Mearthane Products Corporation (MPC) has acquired of Precision Elastomers, Inc. (PEI), a manufacturer of custom thermoset polyurethane and silicone components. The acquisition will introduce expertise and broad technologies. and In September 2023, Polytek® Development Corp., a manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicones, epoxies, and latex, acquired of Neills Materials Ltd., a distributor and key European partner of Polytek® Development Corp for RTV silicone, urethane, epoxy systems, and adhesive products. The acquisition will further enhance company’s product portfolio, and expand the polyurethane market.
In November 2022, Lubrizol 3D Printing Solutions, a provider of specialty chemicals, has launched of ESTANE® 3D TPU M88A thermoplastic polyurethane (TPU). This new TPU material for HP MJF technology is certified for its 5200 series, a 3D printing solution ideal for production applications. and In August 2020, Lanxess launched a new range of MDI polyether prepolymers containing renewable, bio-based raw materials. Marketed under the brand name Adiprene Green, the products are suitable as replacement for existing fossil-based polyether prepolymers to manufacture highly durable polyurethane (PU) elastomers.
Key Target Audience
Supplier, Manufacturer, Research organization, Government Regulatory, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.