The global polyurethane market was worth $ 95.13 billion in 2019. The polyurethane market in Asia Pacific is forecasted to register the highest growth rate during 2019-2022.
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. 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.
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The global polyurethane market is expected to grow at a rate of about 12% and reach $149.91 billion by 2023. 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.
However, uncertain government regulations towards environment protection restrains the growth of the polyurethane market.
Demand for sustainable products from construction, automotive, and footwear industries are resulting in a rising demand for the manufacturing of bio-based polyurethane (PU) with increasing awareness in environmental concerns worldwide. Bio-based polyurethane (PU) is derived from biodegradable materials, constituting a rich source of precursors for the synthesis of polyols and isocynates. In addition, with increasing commercialization and growing demand for flexible foam for car seats and headrests from major automotive OEMs, polyurethane manufacturers have shifted focus towards developing sustainable and environment friendly products made of renewable materials.
Major players in the 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., and Woodbridge Foam Corp.
Covestro AG is a German company which produces specialty chemicals for heat insulation foams and transparent polycarbonate plastics.
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Table of Contents:
1. Executive Summary
2. Polyurethane Market Characteristics
3. Polyurethane Market Size And Growth
3.1. Global Polyurethane Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Polyurethane Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Polyurethane Market Segmentation
4.1. Global Polyurethane Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Adhesives and sealants
Flexible and rigid foams
4.2. Global Polyurethane Market, Segmentation By End Use Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Electronics & Appliances
5. Polyurethane Market Regional And Country Analysis
5.1. Global Polyurethane Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Polyurethane Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Polyurethane Market
6.1. Asia-Pacific Polyurethane Market Overview
6.2. Asia-Pacific Polyurethane Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
7. China Polyurethane Market
7.1. China Polyurethane Market Overview
7.2. China Polyurethane Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion
8. India Polyurethane Market
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