What is Polyurethanes Market?
Polyurethane, like all plastic, is a polymer formed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate. Different end products can contain other ingredients such as catalysts, blowing agents or flame retardants. It has wide application as flexible foam for mattresses, cushions, car seats. Few other areas include construction, insulation where rigid foam is used. The market for polyurethane products is forecasted to grow owing to its unique properties such as corrosion-resistant, heat resistance, lightweight among others.
The market study is being classified by Type (Polyester and Polyether), by Application (Building insulation, Refrigerators and freezers, Furniture and bedding, Footwear, Automotive, Coatings and adhesives and Others) and major geographies with country level break-up.
Tosoh Corporation (Japan), BASF (Germany), Covestro (Germany), Huntsman Corporation (India), Dynasauer Corp (United States), Mitsui Chemicals (Japan), Sadara Chemical Company (Saudi Arabia), Dow Chemical Company (United States), Wanhua Chemical Group Co., Ltd. (China) and Barnhardt Manufacturing Company (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Accella Polyurethane System LLC (United States), Polyurethane Moulding Inc. (United States) and PSI Urethanes (United States).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Polyurethanes market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Polyurethanes market by Type, Application and Region.
On the basis of geography, the market of Polyurethanes 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growth in Demand for Product Upgrades and Sophisticated Functionality
- Growing Requirement to Use High-Tech, Lighter Weight Materials in the Automotive Industry
Restraints
- Health Hazards to Human Restricts Growth
Opportunities
- Increase in Building and Construction Sector Likely To Increase Demand for Product