About Polyurethanes (PU)
Polyurethane is a synthetic resin compound comprised of carbamate/urethane groups linked to polymer units. Polyurethane is a plastic material, which exists in various forms. It can be tailored to be either rigid or flexible and is the material of choice for a broad range. It is available in rigid and flexible forms and is used in a wide range of applications that make our lives more comfortable and environmentally friendly due to factors such as easy availability, low cost, ease of use, and recyclability. Polyurethane is widely used in building and construction applications due to its excellent strength-to-weight ratio, insulation properties, durability, and versatility. The polyurethane market can navigate challenges, unlock new potential, and continue to be a vital contributor to various industries for years to come.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.86% |
The polyurethanes market is a complex and dynamic landscape with diverse players and evolving trends. Understanding the competitive forces, market dynamics, and key challenges will be crucial for companies to navigate this space successfully and secure a sustainable future in this versatile and ever-growing industry. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Polyurethanes (PU) market throughout the forecasted period. 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.
BASF SE (Germany), Huntsman Corporation (United States), LG Chem (South Korea), Asahi Kasei Corporation (Japan), Dow (United States), Wanhua Chemical Group Co., Ltd. (China), Recticel S.A. (Belgium), NCFI Polyurethanes (United States), Lupin Ltd. (India) and Recticel (Belgium) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Sumitomo Chemical Co., Ltd. (Japan), Ecovative Design (United States), Covestro India Pvt Ltd (India), Carpenter Co. (United States) and DIC Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Polyurethanes (PU) market by Type (Polyester and Polyether), Application (Automotive, Footwear, Construction, Packaging and Others) and Region.
On the basis of geography, the market of Polyurethanes (PU) 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 , the sub-segment i.e. will boost the Polyurethanes (PU) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Rising adoption of Higher quality coating & Adhesives
Market Growth Drivers:
Increasing use of Polyurethane in refrigerator applications and Growing use of Polyurethane in Automotive Industry
Challenges:
Some Volatile compounds can show negative health effects
Restraints:
Environmental Concern
Opportunities:
Growing demand for environment friendly polyurethane and Expansion of recycling & recovery of Polyurethane
Market Leaders and their expansionary development strategies
In November 2023, Carpenter Co., acquired the flexible foam assets of NCFI’s Consumer Products Division. This acquisition holds significant promise for Carpenter's growth and success in the flexible foam market. However, it's important to remain aware of the potential challenges and closely monitor how the integration process unfolds.
In December 2023, BASF launched Irgastab PUR 71, a cutting-edge antioxidant improving regulatory compliance and performance for polyols and polyurethane foams. This launch marks a significant step forward in the polyurethane industry. By addressing performance, sustainability, and regulatory concerns, this innovative antioxidant paves the way for a future where polyols and polyurethane foams can be produced responsibly and efficiently, while delivering exceptional quality and safety.
Key Target Audience
Manufacturing Companies, Research & Development, Medical Devices, Government & Regulatory Bodies, Potential Investors 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.