The Polyurethanes Market deals with the development and manufacture of polyurethane products which help makes lives easier and more convenient in an eco-friendly manner. Polyurethane is widely considered as one of the most extremely versatile polymers to exist right now. Polyurethane material is available in a wide variety of forms including foams and elastomers which can be rigid or flexible.
The end-products that result from polyurethane casting serve many consumer and industrial purposes lie building insulation, automotive seat material, soles in shoes, etc. Polyurethane plastic consist of organic material that are held together through carbamate bondage. Many experiments have already found that polyurethane material does not melt easily.
Scope & Regional Forecast of the Polyurethanes Market
The Polyurethanes Market attributes its consistent growth over the years to a few factors like: growth in public disposable income; rapidly evolving lifestyle changes; rising demand for higher quality furniture as more people are looking to lead a more convenient life; growing requirement for thermal insulation material as fossil fuel energy emissions gradually reduce; and rise in expenditure among emerging economies like India, Brazil and Qatar.
Currently, the Polyurethanes Market is dominated by demand emanating from the furniture and interior design industry. But, polyurethane manufacturers expect the construction industry to dominate the market share during the forecast period due to rising climate change awareness among the wider public. As various government initiatives aiming to improve energy efficiency and reduce fossil fuel usage get passed, the consumer and industrial sectors are gradually looking to meet their energy needs through more sustainable means. On the other hand, due to its eco-friendly and tough properties, polyurethane suppliers expect the consumer electronics to drive future growth in a significant manner.
Unsurprisingly, Asia-Pacific holds the highest share in the Polyurethanes Market due to the presence of enormous manufacturing hubs and conducive economic terms in the region. But once Donald Trump settles into his Presidency, North America is expected to gradually bump up its share through indigenous manufacturing efforts.
Segmentations & Key Players Involved in the Polyurethanes Market
According to IndustryARC findings, the Polyurethanes Market can be broken down into various segmentations on the basis of –
Product Type: Flexible Foam, Rigid Foam, Coatings, Adhesives, Sealants and Elastomers (CASE), Thermoplastic polyurethane (TPU), Binders, Elastomers and Others.
Industry: Apparels, Appliances, Automotive, Building and Construction (as Insulation), Electronics, Furnishings, Marine, Medical, Packaging and Others.
Geography: North America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Polyurethanes Market according to IndustryARC are as follows:
- Bayer MaterialScience AG
- Chemtura Corporation
- The Dow Chemical Co.
- Nippon Polyurethane Industry Co., Ltd.
- Huntsman Corporation
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