The global polyurethane market size is expected to reach USD 105.2 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.0% CAGR during the forecast period.Rising awareness regarding resource conservation and optimum manufacturing processes and low labor costs in developing countries are factors estimated to fuel overall market demand through 2025.
Growing demand for bio-based polyurethane (PU) as well as demand for innovation and sustainability are key factors driving the industry. Rising government interferences in order to reduce greenhouse gas (GHG) emissions are also estimated to have a positive impact on overall market growth.
Developed countries such as U.S., Canada, Germany, and U.K. have reduced carbon dioxide emissions over the past few years owing to increasing environmental concerns. The U.S. EPA and National Highway Traffic Safety Administration have issued regulations under the Energy Policy and Conservation Act to enhance fuel efficiency of vehicles and reduce carbon emissions.
Prominent players are incorporating bio-based PU to reduce reliance on conventional petrochemical derived PU and reduce the risks associated with it. Geographically, Asia Pacific emerged as a leading regional PU market in 2018 whereas Europe and North America are estimated to exhibit moderate growth over the forecast period.
To request a sample copy or view summary of this report, click the link below:
Further key findings from the report suggest:
By product, the flexible foam segment accounted for the largest revenue share of 26.6% in 2018 owing to rising use as a cushioning material for furniture, bedding and mattresses, seating, and other soft products in several end-use industries
The elastomers segment is estimated to grow at the fastest pace over the forecast period owing to introduction of PU elastomers with intrinsic, self-healing properties that restore product appearance despite any damage. These are estimated to revolutionize the industry and boost segment share
Based on application, the construction sector accounted for the largest polyurethane market share in 2018 and is estimated to exhibit a revenue-based CAGR of 6.8% in the upcoming period owing to rapid industrialization in developing countries and its excellent insulation properties
The automotive sector is estimated to register steady growth over the forecast period owing to high mechanical strength, durability, and lightweight properties to reduce vehicle weight
Companies such as BASF and Shepherd Chemical Company have introduced novel products, technologies, and applications for PU, which is expected to revolutionize the industry over the forecast period.
Grand View Research has segmented the polyurethane market on the basis of product, application, and region:
Polyurethane Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Adhesives & Sealants
Polyurethane Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Electronics & Appliances
Polyurethane Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."