Global Polyurethane Market Players:
The major key players of this market are: BASF SE (Germany), The Dow Chemical Company (U.S), Huntsman Corporation (U.S), Tosoh Corporation (Japan), Covestro AG (Germany), DIC Corporation (JAPAN), Eastman Chemical Company (U.S.)
ALSO READ : https://www.reddit.com/r/marketing/comments/kqtkop/covid19_on_polyurethane_market_trends_share/
Segmentation:
The global polyurethane market is majorly segmented on the basis of product and end user industry. Based on product, polyurethane market is segmented into rigid foam, flexible foam, coatings, adhesives & sealants, elastomers, others. Based on end user industry of polyurethane, the market is segmented into construction, furniture, automotive, electronics appliances, footwear, packaging, others.
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Polyurethane consist of organic units including di-isocyanates, tri- isocyanates and polyols. The foam and non-foam polyurethane further modified by using surfactants. They are also known as thermosetting polymers which do not melts on heating. Growing importance of energy conservation due to volatile in prices of crude oil is anticipated to drive the polyurethane market growth. Increasing demand of high performance and lightweight interior components, cushion foams in automotive parts to foster energy saving will fuel the demand for polyurethane market growth.
Based on types, Polyurethane is segmented into rigid foam, flexible foam, coatings, adhesives & sealants, elastomers, others. Growing importance of energy conservation along with reduction of carbon emission is expected to propel the product demand. Rigid foam is widely used in insulations in construction industry. The need to increase building energy efficiency are the key properties helping the rigid foam market to grow in coming years. Flexible foam is leading product segment owing to structural stability in construction and electronic appliances. Elastomers polymers not only offer benefits of plastics & rubber but also provide self-healing properties which also expected to contributed the market growth. The material possesses following properties such as high flexibility and strong impact & shock resistance for high performance applications in automotive industry. Development of eco-friendly coatings and bio-based polyurethane for green buildings is anticipated to drive the polyurethane market in developed regions.
Based on end user industry, Polyurethane is segmented into construction, furniture, automotive, electronics appliances, footwear, packaging, others. Construction industry is leading industry in polyurethane market. Increase in government spending in infrastructure has led overall development of construction industry in emerging economies. Thus, this remains key factors for driving the product consumption in insulations and sealants applications. Further, increase in consumer spending in interiors and furniture which is also consuming product in upholstery and other applications drives the polyurethane market growth.
Technological advancement in automotive and furniture has shifted the need for polyurethane owing to its superior properties. Moreover, changing preferences of consumer is driving the demand for polyurethane market. Growing concern of lightweight material in automotive sector is anticipated drive the polyurethane over the forecasted horizon. Growing infrastructure activities coupled with interior designing is also anticipated to drive the polyurethane market.
Regional analysis:
The APAC region Polyurethane market is expected to grow owing to rise in per captia income, changing lifestyle and growth expansion of middle class people in emerging economies. China being largest producer and consumer of polyurethane dominates owing to skilled labor, easy availability of raw materials and lenient government regulations. China, India, Brazil and Indonesia are expected to drive the market demand owing robust industry growth. Growing demand of adhesives and sealants in low income households for energy efficiency has also propel the demand of polyurethane market growth.
Europe witnessed a significant growth owing to being prominent player of automobile sector and consumer appliances. After economic downturn, the government is focusing more on bio-based products and low cost products with high durable quality. Hence, the polyurethane market is expected to grow in this region.
North America witnessed a slow growth owing to stringent regulations by government regarding carbon emission and sustainable greener environment.
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