Global Polyurethane Market Size, Share, Growth Analysis, By Material Type(Polyol, MDI), By Product Type(Rigid foam, flexible foam), By End User(Building & construction, automotive & transportation) - Industry Forecast 2024-2031

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).

Increasing demand for the sustainable building insulation material such as polyurethane is the major factor that is attributed to the growth of the market.

Green buildings are entering into the construction market due to increasing investment in smart energy-efficient commercial and residential buildings. Green buildings provide a meaningful response to increasing consumer awareness regarding sustainability as well as it can be accepted by environmental and federal regulations.

The polyurethane material has wide applications in automotive, construction, and packaging, and others. In the automotive industry, thermoplastic polyurethane is used in the car components to reduce the total weight of the vehicle and it also reduces the fuel consumption and carbon emissions.

In addition, the increased demand for polyurethane is due to its high durability. It can be used in the areas where other materials are not suitable such as exterior surfaces as well as in outdoor applications. However, the increasing popularity of eco-friendly materials, wide range of applications, and increasing environmental concerns are the factors which boost the growth of the global market.