Polyurethane is a polymer composed of organic units joined by urethane link. Polyurethanes are made from the exothermic reactions between alcohols with two or more reactive hydroxyl groups per molecule and isocyanate that have more than one reactive isocyanate per molecule. The Polyurethane Catalysts helps to accelerate the formation of polyurethane. Along with that it also modifies the reaction conditions and final product. The catalysts play key role in polyurethane foam manufacturing. Polyurethane foam manufacturing require controlled environment, which is provided by Polyurethane Catalyst. New reduced-emission, high-efficiency catalysts help manufacturers create eco-friendly foams. Broadly polyurethane catalysts can be classified as amine and metallic catalysts. They find their applications in formation of various polyurethane products such as rigid foam, flexible foam, elastomer, coating and others. Wherein, demand for Polyurethane Catalyst for manufacturing rigid foam is expected to grow with increasing Polyurethane use in construction activities during the forecast period.
As Polyurethane Catalyst is one of the key components of polyurethane, trends in production and supply is significant for Polyurethane Market. The global factors influencing the market of Polyurethane are bound to affect Polyurethane Catalyst equally. As polyurethane products are used in almost all industries demand for Polyurethane Catalyst is already high. In past few years global market for Polyurethane is growing at higher pace due to its greater adaptability. This growth, in turn, would be followed by Polyurethane Catalyst. The construction activity around the world is driving the demand for rigid foams which is expected to significantly help Polyurethane Catalyst Market to grow further. Growing demand for flexible foam from automotive, and electronic applications would be the key driver for Polyurethane Catalyst Market. Still there are some concerns which needed to be addressed. The strong competition from Polystyrene and fiberglass industries to Polyurethane is a major concern for demand of Polyurethane Catalyst. Volatility in the prices of raw materials of polyurethane catalysts is also one of the restraints. Increasing developments of ecofriendly innovative products by companies, also potential health hazards of polyurethane catalyst can hamper its market growth. Nevertheless, the cost-effectiveness of the Polyurethane would keep the demand for Polyurethane Catalyst up and help boost the market during the forecast period.
Key Players:
Key players in Global Polyurethane Catalysts Market are Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Kao Corporation (Japan), Tosoh Corporation (Japan), Polychemie Asia Pacific Permai (Indonesia), Suzhou Xiangyuan Special Fine Chemical Co., Ltd (China), Evonik Industries AG (Germany), Gulbrasnson Chemical Pvt. Ltd. (India).
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Market Overview:
Polyurethane is vastly being used for manufacturing foam which in turn utilized by diverse industries namely furniture, construction, automotive & transportation, electronics & electrical, etc. As polyurethane catalyst is one of the key components for producing polyurethane, the market trends in polyurethane are bound to significantly influence the global polyurethane catalyst market. Polyurethane Catalysts find their applications in manufacturing various polyurethane products such as rigid foam, flexible foam, molded foam, elastomers, coatings, and others. In the coming years during forecast period, the global polyurethane market is estimated to reach around 2 million tons of annual production with an approximate CAGR of 6%. The developing countries are focusing on infrastructure projects which driving the growth of building & construction activities. This trend is expected to boost the demand for rigid foams. Apart from that the automotive and transportation sector is projected to keep its growth trajectory intact to drive the demand of flexible as well rigid foams. These trends are anticipated to continue for over the forecast period.
Market Segmentation:
The Global Polyurethane Catalysts Market is broadly segmented on the basis of product type, application, and region. Based on the product type the market is segmented into dibutyltin dilaurate, triethylenediamine (TEDA), 1,4-diazabicyclo[2.2.2]octane or (DABCO), dimethylethanolamine (DMEA), bismuth compound , zinc compound and others. Wherein DABCO and TEDA among basic amines and dibutyltin dilaurate among acid are dominating the market for production of flexible as well as rigid foams as of 2016. The trend is estimated to continue over the forecast period. Considering the health concerns of the amine based polyurethane catalysts, bismuth and zinc compound may rise as a prime choice for manufacturing Polyurethane products. Owing to the non-toxic nature these metallic based Polyurethane Catalysts are expected to see rise in their demand in production of flexible foam.
On the basis of applications the Global Polyurethane Market is divided into rigid foam, flexible foam, molded foam, elastomers, adhesives, coatings, and others. Wherein flexible foam dominates the demand with 31% market share as of 2016. During the forecast period, demand of polyurethane catalysts in flexible foam is estimated to increase even more. At present rigid foams are majorly used in diverse industries including building & construction, automotive & transportation, electrical & electronics, insulation and some proportion in plastics. Wherein, building & construction dominates the demand of rigid foams. In addition, flexible foams find their uses in manufacturing various products such as bedding & furniture, automotive interiors, mattresses & underlays, and packaging. However the demand is dominated by furniture & bedding industry along with automotive interior industry. Molded foams are majorly used in manufacturing interior of refrigerator. Growing trend can be seen in industries namely building & construction, automotive & transportation, electronics & electrical, furniture & bedding, etc. Thus, growth in these industries is anticipated to reflect in the Polyurethane Catalysts Market during the forecast period.
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Regional Analysis
Asia Pacific is estimated to dominate the Global Market of Polyurethane Catalyst with 45% of market share as of 2016. The region is anticipated to remain dominant in both production and demand of polyurethane catalyst. Growing construction activity in this region is driving the market growth. Apart from that increasing demand of rigid foams from automotive & transportation industry is expected to boost the demand further in coming years. Europe is followed by Asia Pacific in terms of market share due to increasing demand of flexible and rigid foams by automotive along with insulator industries. North America occupies comparatively smaller pie of share in global polyurethane catalysts market. Still there is surge in demand of flexible foams in automotive interiors, insulation, and furniture making industries in this region. Middle East & Africa is a swiftly growing market where the growth is driven by demand of rigid foams for insulation. Latin America is anticipated to witness the rise in regional market due to the demand of Polyurethane Catalysts in making rigid foams for construction and transportation sectors.
Key Points from Table of Contents:
11. Company Profiles
11.1 Covestro AG
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Updates
11.1.4 Key Developments
11.2 BASF SE
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.2.4 Key Developments
11.3 The Dow Chemical Company
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.3.4 Key Developments
11.4 Huntsman International LLC
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.4.4 Key Developments
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