GLOBAL POLYURETHANE MARKET FORECAST (2019 - 2026)

Global Polyurethane Market is estimated to grow with approx.6.50% CAGR during the year 2018 – 2026:

by End User (Furniture and Bedding, Building and Construction, Automobiles, Footwear, Electrical and Electronics and Other Markets) by Products (Flexible Foam, Rigid Foam, Elastomers, Adhesives and Sealants, Coatings, Other Materials), by Type (Thermoplastic, Thermosetting) & by Geography- Regional Trends & Forecast to 2026.

Global Polyurethane market is estimated to grow with approx.6.50% CAGR during the year 2018 – 2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global Polyurethane market is primarily driven by the following factors:

  • Increasing penetration in automobiles and furniture industry

  • Multiple utilities due to versatile properties

  • Increasing demand for energy efficiency

  • Innovative applications

  • Lightweight

The important driver increasing growth in the Global Polyurethane Market is the increasing demand for energy efficiency. The industry is generating high demand for chemicals & products which deliver high energy value while maintaining the sustainability of the environment. Frequent changes in the environment and climatic conditions have lead to a significant increase in the consumption of energy, especially that which is derived from natural resources. A significant percentage of the energy is used to heat, cool and operate the homes and buildings. Moreover, the increasing consumption of energy has lead to a significant rise of CO2 levels in the atmosphere. Reducing energy consumption is a possible and cost-effective solution for limiting the greenhouse emissions. Thus, the industries are looking for solutions like polyurethane with high thermal insulation to contribute to greater energy efficiency.

The production of bedding and furniture is entirely dependent on petroleum-based polyols for manufacturing flexible foams. The constant rise in global population is boosting the demand for furniture and bedding, thereby driving the consumption of polyurethane for these applications. The increase in the demand for luxury bedding and furniture is also mounting owing to the growth of production capacities of suppliers in emerging economies. Vendors are also expanding rapidly to cater to the increasing demand from the domestic markets, including Brazil and India.

Degradation of PU waste is the major factor hindering the polyurethane market. Production of polyurethane from TDI & MDI results in several by-products such as phosgene, isocyanates, toluene, diamines and methylene chloride. Moreover, the burning of polyurethane releases many dangerous chemicals like isocyanates, carbon dioxide, hydrogen cyanide, PAHs and dioxins. These chemicals & gases can contaminate the soil & water when dumped, and in some cases could pose a threat to human health. CFCs, or chlorofluorocarbons, are a byproduct of polyurethane production and are released when the material is burned. The methylene chloride and CFCs polyurethane produce ozone-depleting gases, which are a considerable concern for environmentalists.

The global polyurethane market segments include end-users, products and types.

End-users are further segmented into:

  • Furniture and bedding

  • Building and construction

  • Automobiles

  • Footwear

  • Electrical and electronics

  • Others

Products are further segmented into:

  • Flexible Foams

  • Rigid Foams

  • Elastomers

  • Adhesives and sealants

  • Coatings

  • Others

Types are further segmented into:

  • Thermoplastic

  • Thermosetting

Geographically, the Global Polyurethane Market has been segmented on the basis of four major regions, which include:

Asia Pacific is anticipated to account the largest market share during the forecast period. It is the largest consumer of polyurethane. The region is expected to be the fastest-growing polyurethane market during the eight-year period of 2018 to 2026. Rising PU demand from the footwear and automobile industries is helping to boost consumption while changing lifestyles and increased disposable income are also acting as major contributory factors. China, the global manufacturing capital, accounted for major share of the polyurethane consumed in APAC. The country’s automotive sector, which includes both private and public transportation, is the biggest end user in the region. Leading manufacturers such as BASF, Bayer and Dow Chemical are producing polyurethane in APAC in order to reduce the production costs. The availability of raw materials, skilled labor at competitive rates and rapidly improving infrastructure are key reasons that have helped facilitate the capacity expansions in this region.

The Global Polyurethane Market is segmented based on end-users that are further sub-divided into furniture and bedding, building and construction, automobiles, footwear, electrical and electronics, and others. The market is also segmented on the basis of products which are sub-divided into flexible foams, rigid foams, elastomers, adhesives and sealants, coatings, and others.  On the basis of types, the market is segmented into thermoplastic and thermosetting.

 

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