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

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

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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).

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'

Increasing industrial Applications

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 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.

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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

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