Polyurethane Catalyst Market – Market Overview
The Polyurethane Catalysts are the key component used in the manufacturing process of polyurethane to accelerate and modify the reaction conditions and final product. The growing market of polyurethane owing to their wide applications in rigid foam, flexible foam, molded foam, elastomers, and coatings ace on account of its greater adaptability are bound to significantly influence the Global Polyurethane Catalyst Market. For instance, growing demand of rigid polyurethane foams in construction industry and rising demand of flexible polyurethane foams in automotive and electronics application. However, volatile prices of raw materials, strong competition to polyurethane from polystyrene and fiberglass, and growing R&D activities for eco-friendly polyurethane substitute are likely to hamper the Global Polyurethane Catalyst Market growth during the forecast period.
The Global Polyurethane Catalyst Market is segmented based on product type into 1,4-diazabicyclo[2.2.2]octane (DABCO), triethylenediamine (TEDA), dibutyltin dilaurate, dimethylethanolamine (DMEA), bismuth compound , zinc compound, and others. Amongst the product type, DABCO and TEDA accounted to collectively dominating the Global Polyurethane Catalyst Market in 2016 owing to their wide application in the manufacturing of flexible and rigid polyurethane foams and are expected to continue growth over the forecast period. However, due to growing health concerns of amine based polyurethane catalysts, non-toxic metal based catalyst such as bismuth and zinc compound may rise as a prime choice for manufacturing polyurethane products over the forecast period. The Global Polyurethane Catalyst Market is segmented based on application into rigid foam, flexible foam, molded foam, elastomers, adhesives, coatings, and others. Flexible foam held around 31% market share of the Global Polyurethane Catalyst Market in 2016 and is expected to show bolstering demand during the forecast period.
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Asia Pacific accounted to have the largest market share of 45% both in terms of production and consumption in 2016 owing to the strong demand of flexible and rigid polyurethane foams from growing construction and automotive & transportation industry and is expected to continue growth during the forecast period. Europe is expected to be following Asia Pacific in terms of market share owing to strong demand of flexible and rigid foams from the established automotive industry. North America is likely to witness surge in demand of flexible foams in automotive interiors, insulation, and furniture making industries during the forecast period. The Middle East & Africa is likely to exhibit significant demand of rigid foams for insulation applications during the forecast period. Latin America is anticipated to witness the rise in the Polyurethane Catalyst Market due to the growing demand of rigid foams for construction and transportation sectors.
Polyurethane Catalyst Market – Competitive Analysis
The global market of Polyurethane Catalyst is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the properties of Polyurethane Catalyst.
Industry/ Innovation/ Related News:
November 2017- Covestro expanded the global production capacity for aqueous polyurethane dispersions (PUDs) to satisfy rising demand from the coatings and adhesives industry and to meet the growing regulations against the emissions of volatile organic compounds (VOC). It has started a new facility in Dormagen and Barcelona, significantly increases the plant capacity in Europe, building a new facility in China, as well as planning to resume production in the United States and at the same time modernizing and expanding facilities there.
March 2018-Huntsman Corporation made an acquisition with Demilec, one of North America’s leading manufacturers and distributors of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of Sun Capital Partners, Inc. According to company experts, Demilec has pioneered MDI SPF insulation and coating technologies for over 30 years and has delivered strong double-digit growth. Furthermore, the acquisition enables the Huntsman Corporation to move downstream. The acquisition is estimated to cost Huntsman 350 million USD and the transaction is anticipated to close by the end of second quarter of FY-2018.
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