Polyurethane Market Professional Survey 2019 by Manufacturers, Regions, Countrie
Posted by Rishab Gupta on November 27th, 2019
Key Players Analysis:
Market Research Future (MRFR) recognizes the following companies as the key players in the global polyurethane market: BASF SE (Germany), The Dow Chemical Company (U.S), Huntsman Corporation (U.S), Eastman Chemical Company (U.S.), Nippon Polyurethane Industry Co. Ltd. (Japan), Woodbridge Foam Corp. (Canada), Foamex Innovations (U.S), Covestro (Germany), Lubrizol Corporation (Japan), DIC Corporation (Japan)
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “ Polyurethane Market Size is expected to grow at ~ 24.2 million tons by 2022.
The market witnessed escalating growth owing to high demand of lightweight and durable materials in end user industries such as construction, automotive, electronics appliances, furniture, footwear, packaging. Further, increasing demand of high performance and lightweight interior components, cushion foams in automotive parts to foster energy saving will fuel the demand for polyurethane market growth. Polyurethane do not melt on heating which is why called as thermosetting polymers. This is also expected to drive the product demand in market.
However, volatile in MDI and TDI price range which is extensively used in polyurethane production can challenge major manufacturer. fluctuation in crude oil prices may affect the polyurethane market price trend. Rising environmental concerns and lowering carbon emission and greenhouse gases has opened opportunities for manufacturers to switch to bio-based polyurethane in end user industries.
Product Segment analysis
On basis of product, Polyurethanes are segmented into rigid foam, flexible foam, adhesives & sealants, coatings, elastomers and other products. Rigid foam is widely used in insulations to increase building energy efficiency. These key properties helping the rigid foam market to grow in coming years. Flexible foams are expected to dominate the product demand owing to easy insulation in electronic appliances and construction industry. Elastomers possess high flexibility and strong impact & shock resistance which widely used in high performance materials. Thus, it is being emerging as faster growing segment in end user industries. Innovation in coatings and development of bio based polyurethane is anticipated to drive the demand in developed regions.
End User Industry Analysis
Construction market is dominating market owing to growing infrastructure activities, rapid industrialization and increase in government spending in emerging economies such as China and India. Moreover, increasing government spending to improve public infrastructure in order to increase tourism and trading is propelling the demand of polyurethane across the end user industry. Further, increase in consumer spending in interiors and furniture which is also consuming product in upholstery and other applications drives the polyurethane market growth. Rise in population has led to increase in usage of vehicles. Thus, automotive market witnessed a significant growth owing to increase in artistic appeal automobile body parts in vehicles. Metals used in vehicles to provide structural strength along increase the energy saving with fuel efficiency has driven the polyurethane market in this segment.
The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Polyurethane market is dominating market over the forecasted period. Rapid industrializations, favorable government regulations and increase in per captia income will significantly grow the Polyurethane market in emerging economies such as China, India and Japan.
U.S is dominating segment owing to key players in these regions has shifted their production in developing regions to trapped the competitive market. Automobile sector in these region is growing rapidly which led to rise in product segment in these regions. Manufacturers are adopting low cost technology along with lightweight materials like flexible foams in order to increase fuel efficiency.
North America and Europe region being prominent players in automobile and consumer appliances drive the insulators and sealants for energy efficiency in polyurethane market over the forecasted period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
Browse "Polyurethane Market Research Report- Forecast to 2023" @ https://www.marketresearchfuture.com/reports/polyurethane-market-2444
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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