Harrisburg, NC -- (SBWIRE) -- 10/19/2020 -- The Global Polyurethane Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
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Market Segmentation
Top leading Companies of Global Polyurethane Market are – The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals, Inc., DIC Corp, Nippon Polyurethane Industry Corp Ltd., Recticel S.A., Woodbridge Foam Corp
Markets Covered: 1) By Product Type: Coatings; Adhesives and sealants; Flexible and rigid foams; Elastomers; Others 2) By End Use Industry: Furniture; Construction; Electronics & Appliances; Automotive; Footwear; Others
The polyurethane market consists of the sales of polyurethane and related services which are used in foams as an insulation material, coatings, adhesives and sealants and an elastomer. Polyurethane refers to form of plastic polymer material which is used to produce modern, versatile and safe consumer and industrial products that are environmental friendly. Polyurethane is formed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. They are also widely used in medical devices such as pacemakers, artificial hearts, and other blood contacting applications.
The global polyurethane market was worth $ 95.13 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12% and reach $149.91 billion by 2023.
The polyurethane market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The polyurethane market in Asia Pacific is forecasted to register the highest CAGR during 2019-2022.
The polyurethane market ocvered in this report is segmented by product type into coatings, adhesives and sealants, flexible and rigid foams, elastomers, others and by end use industry into furniture, construction, electronics & appliances, automotive, footwear, others.
Adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding and carpet underlay. Furthermore, with the introduction of advanced manufacturing process, polyurethane form provides more uniform, predictable and durable end products. For instance, according to American Chemistry Council, it is proven that FPF when compressed by 90% for 22 hours, could recover more than 90% of its original height, which is highly durable than any other form furniture material. Moreover, completely cured polyurethane products are considered to be inert and safe and was concurred by the U.S. EPA (Environmental Protection Agency). The durability, comfort and safety provided by polyurethane continue to be the major reasons for use in the furniture industry, thereby, driving the demand of polyurethane industry going forward.
Polyurethane providers globally faced uncertain environment regulatory in the historic period. These regulations are to reduce emission of toxic air pollutants from the flexible polyurethane foam industry, and mandates the installation of add-on control equipment at manufacturers site. For instance, the Environmental Protection Agency (EPA) issued a regulation to reduce emission of the toxic air pollutant methylene chloride from the flexible polyurethane foam market. All the polyurethane manufacturers have to comply with this regulation and eliminate the use of methylene chloride for the production of molded foam and rebond foam. Therefore, uncertain government regulations towards environment protection restrains the growth of the polyurethane market.
Demand for sustainable products from construction, automotive and footwear industry are witnessing a rising demand for the manufacturing of bio-based polyurethane (PU) with rising awareness in environmental concerns worldwide. Bio-based polyurethane (PU) are derived from biodegradable materials constituting a rich source of precursors for the synthesis of polyols and isocynates. These chemicala are readily availability at lower cost with less environmental impact, and are highly biodegradable. In addition, with increasing commercialization and growing demand for flexible foam for car seats, headrests from major automotive OEMs, polyurethane manufacturers have shifted focus towards developing sustainable and environment friendly products of renewable materials, will drive the use of bio-based polyurethane products in various industries including construction, automotive, coating and footwear. In 2018, the German Federal Ministry of Food and Agriculture (BMEL) invested in a project "PULaCell", which focused on stronger construction of timber and other solid wood construction materials, with bio-based polyurethane.
In November 2018, Covestro, a German-based polymer company, accelerated the expansion of its thermoplastic polyurethanes (TPU) business by raising its stake in the joint venture DIC Covestro Polymer Ltd. (DCP) from 50% to 80%. Both the parties agreed to not disclose any financial details of the transaction. Closing of the deal is planned for early second quarter 2019, subject to the approval from the relevant authorities. The investment is part of Covestros expansion of its global TPU business. DIC Covestro Polymer Ltd. is a Japan-based supplier of thermoplastic polyurethanes.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Polyurethane Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Finally, Polyurethane Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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