Pune, India -- (SBWIRE) -- 10/11/2017 -- Market Highlights
Strategic market of global Polyurethane market is expected to grow at ~5.8% CAGR during 2016-2022
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, adhesives & sealants, coatings, elastomers and other products. 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.
Global Polyurethane Market is set for intensifying growth in end user industries and is expected to reach ~24.2 million tons by 2022.
Key players of the global Polyurethane 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.)
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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, adhesives & sealants, coatings, elastomers and other products. Based on end user industry of polyurethane, the market is segmented into construction, automotive, electronics appliances, furniture, footwear, packaging and others
Commenting on this report, an analyst from Market Research Future (MRFR)'s team said, "Global Polyurethane market size is expected to grow at ~ 24.2 million tons by 2022.
The market witnessed escalating growth owing to high demand of lightweight and durable materials in end user industries such as construction, automotive, electronics appliances, furniture, footwear, packaging. Further, 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. Polyurethane do not melt on heating which is why called as thermosetting polymers. This is also expected to drive the product demand in market.
However, volatile in MDI and TDI price range which is extensively used in polyurethane production can challenge major manufacturer. fluctuation in crude oil prices may affect the polyurethane market price trend. Rising environmental concerns and lowering carbon emission and greenhouse gases has opened opportunities for manufacturers to switch to bio-based polyurethane in end user industries.
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Product Segment analysis:
On basis of product, Polyurethanes are segmented into rigid foam, flexible foam, adhesives & sealants, coatings, elastomers and other products. Rigid foam is widely used in insulations to increase building energy efficiency. These key properties helping the rigid foam market to grow in coming years. Flexible foams are expected to dominate the product demand owing to easy insulation in electronic appliances and construction industry. Elastomers possess high flexibility and strong impact & shock resistance which widely used in high performance materials. Thus, it is being emerging as faster growing segment in end user industries. Innovation in coatings and development of bio based polyurethane is anticipated to drive the demand in developed regions.
The report about Global Polyurethane Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
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