Global Polyurethane Market Size To Exceed USD 120.81 Billion by 2033 | CAGR of 4.47%
Category: Chemicals & MaterialsGlobal Polyurethane Market Size To Exceed USD 120.81 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Polyurethane Market is Expected to Grow from USD 78.02 Billion in 2023 to USD 120.81 Billion by 2033, at a CAGR of 4.47% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 198 pages with 110 Market data tables and figures & charts from the report on the “Global Polyurethane Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Rigid Foam, Flexible Foam, Molded Foam, Elastomers, Adhesives & Sealants, Coatings and Others), By Application (Furniture, Construction, Electronics, Automotive, Packaging, Footwear and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/polyurethane-market
The polyurethane market is the worldwide industry that manufactures and distributes polyurethane (PU), a general-purpose and widespread polymer made up of organic units bonded by urethane links. Moreover, polyurethane, especially in rigid foam form, is extensively applied to the thermal insulation of buildings, refrigerators, and other structures. Increasing energy-efficient building demands, fueled by increasing energy prices and tightened building regulations, are a major driver. PU insulation assists in minimizing heat loss and maximizing energy efficiency, and it is therefore critical in residential and commercial buildings. Advances in high-performance PU foams have contributed to tremendous expansion in the application of PU in sports footwear, running shoes, and other specialty footwear, where comfort and durability are critical. However, conventional polyurethane products, particularly flexible and rigid foams, are not biodegradable. This is a major environmental concern since polyurethane products may lead to chronic waste buildup. PU materials, when in the landfill, will not easily biodegrade and thus raise some environmental concerns.
The flexible foam segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the polyurethane market is divided into rigid foam, flexible foam, molded foam, elastomers, adhesives & sealants, coatings, and others. Among these, the flexible foam segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to the flexible PU foam is long-lasting and can retain its shape and function for a long time, even with repeated usage. This durability is important in uses such as seating and mattresses, where durability of comfort and support is desired.
The furniture segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the polyurethane market is divided into furniture, construction, electronics, automotive, packaging, footwear, and others. Among these, the furniture segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to polyurethane is renowned for its long-lasting nature. When applied to furniture, PU foam will hold its structure and shape for a long period, providing durability without much wear or sagging. This has made it a sought-after option by consumers who are seeking durable furniture.
Asia Pacific is expected to hold the majority share of the global polyurethane market during the forecast period.
Get more details on this report -
Asia Pacific is expected to hold the majority share of the global polyurethane market during the forecast period. Asia-Pacific harbors the largest automotive markets in the world, most notably China, the largest car maker and consumer in the world. Polyurethane has a significant application in the automotive sector, used in seats, interior panels, insulation, bumpers, and dashboards. The increased need for cars in this region positively increases the need for polyurethane products.
North America is anticipated to grow at the fastest pace in the global polyurethane market during the forecast period. North America experienced substantial growth in the building and construction industries with the impetus from new constructions as well as refurbishment work. Polyurethane is high in demand to be used as an insulation material, sealant, adhesive, coating, and floor covering.
Major vendors in the global polyurethane market are Dow, Inc., BASF SE, Covestro AG, Huntsman International LLC, Eastman Chemical Company, Mitsui & Co. Plastics Ltd., Mitsubishi Chemical Corporation, Recitel NV/SA, Woodbridge, DIC Corporation, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In July 2024, Evonik launched TEGOSTAB surfactants for rigid and flexible PU uses. These surfactants use renewable raw materials and have ultra-low cyclic siloxane levels, helping the formulator overcome strict emission requirements while sustaining quality foam production.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the polyurethane market based on the below-mentioned segments:
Global Polyurethane Market, By Product Type
- Rigid Foam
- Flexible Foam
- Molded Foam
- Elastomers
- Adhesives & Sealants
- Coatings
- Others
Global Polyurethane Market, By Application
- Furniture
- Construction
- Electronics
- Automotive
- Packaging
- Footwear
- Others
Global Polyurethane Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?