What is Polyurethane Composites?
Polyurethane is a resilient and durable thermoset resin. It is widely used to replace rubber, wood and metal. The demand for polyurethane composites has been raised for manufacturing of number of lightweight materials that are used in range of industries. It is widely used in coatings. They are made up of rigid thermoset resins. They poses high tensile strength, high resistance as compared to elastomeric or thermoplastic polyurethane (TPU). Hence, it is best suitable alternative over polyester and vinyl ester. They require less time for cure compared to others. They takes 20 min for faster recovery however polyester takes 2 to 4 hrs. Hence, PUR composites witnessing huge demand from automotive industry. Inclination towards using eco-friendly composites created demand for bio based & hybrid PUR composites.
The market study is broken down and major geographies with country level break-up.
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), Mitsubishi Chemical Corporation. (Japan), Sekisui Chemical Co., Ltd. (Japan), Merck KGaA (Germany), Purcom (Brazil), Bayer AG (Germany), SGL Group (Germany), ELANTAS (Italy), Covestro AG(Germany), The Dow Chemical Company (United States), Wanhua Chemical Group Co., Ltd. (China) and Huntsman Corporation(United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Polyurethane Composites market by Type, Application and Region.
On the basis of geography, the market of Polyurethane Composites 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 Nature, the sub-segment i.e. Bio Based will boost the Polyurethane Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique, the sub-segment i.e. Resin Transfer Molding will boost the Polyurethane Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fibre Type, the sub-segment i.e. Glass will boost the Polyurethane Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In January 2020, Mitsubishi Chemical Corporation has completed the acquisition of the business of U.S.-based AdvanSource Biomaterials Corporation. Company has acquires the business of thermoplastic polyurethane elastomer (TPU). With this acquisition, company is able to strengthen its business of lightweight materials in United States.
In November 2018, CPA has launch “PUGreen”, it is a vegetable-based polyurethane composite. It is made up of vegetable oils. It is benefited compared to synthetic ones. It is comprises of higher elongation and abrasion resistance. Further, it has negligible shrinkage and thus it is able to provide better surface finish., and In November 2017, BASF and DONG-IL CNE has established partnership to develop lightweight utility poles and oil and gas pipes. Both company established this partnership to provide innovative solutions for advanced infrastructure. Under agreement, DONG-IL CNE is providing its manufacturing expertise to produce BASF branded utility poles made with BASF’s Elastolit polyurethane (PU).
Market Trend
- Major Focus on Using Lightweight Automotive Equipment’s
Market Drivers
- Rising Demand for Lightweight Materials in End Use Industries like Aerospace, Constructions and Other
- Increasing Preference for 3D Moulds
- Grown Usage of Fuel Efficient Vehicle Leads Lightweight Material Manufacturing
Opportunities
- Rising Infrastructure of End Use Industries Has Created Growth Opportunities for Market
- Huge Demand as Essential Material for Manufacturing of Consumer Goods
Restraints
- Low Shelf Life of Adhesives and Sealants Made Up Of Polyurethane Composite
- High Cost Processing of Polyurethane Composite
Challenges
- Difficulty in Recycling of Synthetic Polyurethane Composite
Key Target Audience
Polyurethane Composite Manufacturers, Polyurethane Composite Suppliers/Distributor, Raw Material Suppliers, Chemical Research Institutes, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.