What is the global market size of Polyurethane Market?

Global Polyurethane Market size was valued at USD 72.1 billion in 2021 and is poised to grow from USD 75.19 billion in 2022 to USD 105.29 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).

Who are the key vendors in the Global Polyurethane Market?

Global polyurethane market is highly competitive. Majority of players operating in the market compete on the basis of raw material such as methylene diphenyl diisocyanate, polyol, and toluene diisocyanate used in the manufacturing of polyurethane. Key players adopted strategic development and increased their investment in research and development activities in order to formulate the new product. 'BASF SE', 'Covestro AG', 'The Dow Chemical Company', 'Huntsman Corporation', 'Mitsui Chemicals Inc.', 'Wanhua Chemical Group Co., Ltd.', 'Chemtura Corporation', 'Recticel SA/NV', 'Lubrizol Corporation', 'Eurofoam Deutschland GmbH', 'Carpenter Co.', 'Foamcraft Inc.', 'Rogers Corporation', 'Saint-Gobain Performance Plastics Corporation', 'Sekisui Chemical Co. Ltd.', 'Trelleborg AB', 'UFP Technologies Inc.', 'Woodbridge Foam Corporation', 'Zotefoams PLC', 'FoamPartner Group'

What is the key driver of Global Polyurethane Market?

Increasing industrial Applications

Polyurethane Market Size, Share, Growth Analysis, By Material (Toluene & Methylene Diphenyl Di-Isocyanate, Polyols), By Product (Rigid & Flexible Foam, Coatings, Elastomers, Adhesives and Sealants), By Application (Construction, Automotive, Furniture, Footwear, Appliances ), By Region - Industry Forecast 2025-2032

Q: Which region accounted for the largest share in Global Polyurethane Market?

The Asia Pacific region is expected to dominate the global polyurethane market during the forecast period. The market growth is attributed to increasing end-use industries such as automotive, electronics & appliances, packaging, furniture & interior, and construction. A shift in the production landscape toward emerging economics such as India and China are expected to influence the market growth. Foams and other polyurethane products are expected to gain significance in this region as the increasing consumer awareness about the sustainability of lightweight and low-cost polyurethane.

Report ID: SQMIG15E2128 | Region: Global | Published Date: December, 2024
Pages: 157 | Tables: 97 | Figures: 76

Polyurethane Market News

in Polyurethane Market

In Feb 2022, BASF SE and NEVEON collaborated on mattress recycling. BASF was developing a wet chemical recycling process for used mattresses made of PU, thereby new mattresses can be made by using polyurethane substitutes.
In July 2022, DIC acquired a Chinese coating resin manufacturer named Guangdong TOD New Material Co. Ltd. The acquisitions helped DIC Corporation to expand its Asian market Capacity for different resins, including acrylic, alkyd, polyester, urethane, and epoxy.

Polyurethane Market Report Snapshots

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Polyurethane Market size was valued at USD 78.36 Billion in 2023 and is poised to grow from USD 81.65 Billion in 2024 to USD 113.48 Billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).

The polyurethane market is highly competitive. Majority of players operating in the market compete on the basis of raw material such as methylene diphenyl diisocyanate, polyol, and toluene diisocyanate used in the manufacturing of polyurethane. Key players adopted strategic development and increased their investment in research and development activities in order to formulate the new product. 'BASF SE (Germany)', 'Covestro AG (Germany)', 'Dow Inc. (USA)', 'Huntsman Corporation (USA)', 'Bayer AG (Germany)', 'Hanwha Solutions (South Korea)', 'Mitsui Chemicals (Japan)', 'Sumitomo Chemical (Japan)', 'Tosoh Corporation (Japan)', 'DIC Corporation (Japan)', 'Lubrizol Corporation (USA)', 'LANXESS AG (Germany)', 'Kuraray Co., Ltd. (Japan)', 'SK Innovation (South Korea)', 'CNPC (China)', 'Sinopec (China)', 'Yantai Wanhua Polyurethanes Co., Ltd. (China)', 'Huatai Chemical Group (China)', 'Huasheng Group (China)', 'Huafon Group (China)'

Polyurethane has wider industrial applications such as flexible foam is used in upholstered furniture, rigid foam for insulation in roofs and walls , TPU used in medical devices and footwear, and adhesives, sealants, and elastomers are used on floors and automotive interior. This factor helps to boost the market growth.

PU adhesives have characteristics such as durability, flexibility, and have better bonding along with good impact resistance. It can be used in vehicle interior to bond windshields, seal fuel tanks, and building & construction applications. High demand for adhesives from the construction industry is one of the leading market trends.

The Asia Pacific region is expected to dominate the polyurethane market share during the forecast period. The polyurethane market growth is attributed to increasing end-use industries such as automotive, electronics & appliances, packaging, furniture & interior, and construction. A shift in the production landscape toward emerging economics such as India and China are expected to influence the market growth. Foams and other polyurethane products are expected to gain significance in this region as the increasing consumer awareness about the sustainability of lightweight and low-cost polyurethane.

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What is the global market size of Polyurethane Market?

Who are the key vendors in the Polyurethane Market?

What is the key driver of Polyurethane Market?

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Which region accounted for the largest share in Polyurethane Market?

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