Global Polyurethane Market to Grow Steadily at 7.5% CAGR from 2014 – 2020

Deerfield Beach, FL -- (SBWire) -- 08/10/2017 --Zion Market Research has published a new report titled "Polyurethane (Flexible Foam, Rigid Foam, Coatings, Adhesives, Sealants, and Elastomers) Market for Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging and Other Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020" According to the report, global polyurethane market was valued at around USD 49.5 billion in 2014 and is expected to reach USD 77.0 billion in 2020, growing at a CAGR of around 7.5% between 2015 and 2020.

Polyurethane is abbreviated as PUR and PU. Polyols, MDI and TDI are key raw materials of polyurethane. Rigid PU foam, flexible PU foam, semi rigid foam, molded foam, etc. are some of the major types of polyurethane foams (PU). Coatings, adhesives, sealants, and elastomers (CASE), etc. are some of the other product types markets for polyurethane. Construction, automotive, footwear, electrical & electronics are among the major end-user industries of polyurethane.

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Flexible foam, rigid foam, coatings, adhesives & sealants, and elastomers are the key product segments of the polyurethane market. The flexible foam was the largest product segment in 2014 and accounted for over 35% share of the total market. Globally increasing usage of flexible foam in furniture & interiors and automotive interior applications are expected to drive the demand for flexible PU foam market through the forecast period. However, rigid foam is expected to exhibit rapid growth owing to high demand from insulation application.

On the basis of applications, polyurethane market can be segmented as furniture, building & construction, electronics, automotive, footwear, packaging and other applications. Furniture is likely to be the fastest-growing application segment of PU in the years to come. Additionally, some functional properties like abrasion resistance, environment sustainability are expected to increase the demand for polyurethane over the next few years. Growing end-use industries like automotive, footwear, electrical & electronics in emerging nations are expected to drive the market for polyurethane. Polyurethane has a broad range of applications such as transportation, furniture, textiles, fibers & apparel, packaging etc.

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Polyurethane market was dominated by Asia Pacific and accounted for a significantly large share in total volume consumed 2014. Asia Pacific is followed by Europe and North America. Asia Pacific is expected to witness a significant rise in polyurethane market due to the large demand from emerging countries like China, India for various end-use industries like construction and automotive.

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Global polyurethane market is highly competitive, with the presence of well-established global market participants. The DOW Chemical Company, Bayer AG, BASF SE, Sekisui Chemical Co. Ltd., Nitto Denko Corporation, Compagnie De Saint-Gobain S.A., Huntsman Corporation, Wanhua, Chemical Group Co., Ltd. (Former: Yantai Wanhua Polyuretanes Co., Ltd.), Trelleborg AB, Tosoh Corporation (Nippon Polyurethane Industry Co., Ltd.) and Chemtura Corporation are some of the key vendors in the market.

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