Asia Pacific Polyurethane Market Size, Share, and COVID-19 Impact Analysis, By Raw Material (Toluene Di-Isocyanate, Methylene Diphenyl Di-Isocyanate, Polyols, and Others), By Product (Rigid Foam, Flexible Foam, Coatings, Adhesives & Sealants, Elastomers, and Others), By Application (Furniture & Interiors, Construction, Electronics & Appliances, Automotive, Footwear, Packaging, and Others), and Asia Pacific Polyurethane Market Insights, Industry Trend, Forecasts to 2035

Asia Pacific Polyurethane Market Insights Forecasts to 2035

• The Asia Pacific Polyurethane Market Size was estimated at USD 34.25 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 8.62% from 2025 to 2035
• The Asia Pacific Polyurethane Market Size is Expected to Reach USD 85.05 Billion by 2035

The Asia Pacific Polyurethane Market Size is anticipated to reach USD 85.05 Billion by 2035, growing at a CAGR of 8.62% from 2025 to 2035. The growing demand for lightweight products, along with an increasing consumer prioritization towards eco-friendly and sustainable materials, is contributing to driving the polyurethane market in the Asia Pacific region.  

Market Overview

The Asia Pacific polyurethane market is the industry focusing on the production and application of polyurethane products, which are derived from polyols and isocyanates for construction, automotive, furniture, and packaging applications. Polyurethane is a class of polymers composed of organic units that are joined by urethane (carbamate) links. It is a plastic material, exists in various forms, tailored to be either rigid or flexible. An increasing sustainability concern and demand for polyurethane from the packaging, construction, and automotive sectors is propelling the polyurethane market growth. There is an increasing demand for polyurethane owing to an upsurging need for building insulation in light of sustainability concerns. Furthermore, green buildings and smart energy-efficient commercial and residential buildings, with a growing inclination towards sustainability, are providing market growth opportunities.

Report Coverage

This research report categorizes the market for the Asia Pacific polyurethane market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific polyurethane market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific polyurethane market.

Driving Factors

The widespread use of polyurethane owing to its favorable properties, including lightweight nature, durability, and flexibility in moulding, is propelling the polyurethane market. Polyurethane is an invaluable material for improving the energy efficiency of residential and industrial buildings, providing excellent insulating capacity, contributing to more sustainable buildings. Thus, prioritization towards eco-friendly and sustainable materials is contributing to propel the market growth. The increasing popularity of viscoelastic polyurethane foams for smart furniture and bedding applications is driving the market growth.

Restraining Factors

The stringent regulations associated with polyurethane foam manufacturing, considering environmental safety and health, are restricting the market growth. Further, the availability of polyurethane substitutes and increased manufacturing costs are hindering the market.

Market Segmentation

The Asia Pacific polyurethane market share is classified into raw material, product, and application.

• The polyols segment held the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Asia Pacific polyurethane market is segmented by raw material into toluene di-isocyanate, methylene diphenyl di-isocyanate, polyols, and others. Among these, the polyols segment held the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period. Polyols, including polyurethane polyols, are the most common raw materials of polyurethane. The use of polyols in the building, automotive, furniture, and other industries for manufacturing polymers, including polyurethane, is propelling the market.

• The rigid foam segment dominated the polyurethane market in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Asia Pacific polyurethane market is segmented by product into rigid foam, flexible foam, coatings, adhesives & sealants, elastomers, and others. Among these, the rigid foam segment dominated the polyurethane market in 2024 and is expected to grow at a significant CAGR during the forecast period. Rigid polyurethane foam is an effective insulation material used for increasing energy efficiency and supporting environmental sustainability. The use of rigid foam polyurethane across transportation, packaging, and industrial insulations and appliances is driving the market expansion.

• The construction segment dominated the market with the largest revenue share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

The Asia Pacific polyurethane market is segmented by application into furniture & interiors, construction, electronics & appliances, automotive, footwear, packaging, and others. Among these, the construction segment dominated the market with the largest revenue share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Polyurethane has an excellent strength-to-weight ratio, insulation properties, durability, and versatility, frequently used in construction applications. The growing urbanization and industrialization in emerging economies like China and India, along with increasing infrastructure development, are escalating the market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific polyurethane market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BASF SE
• Covestro
• Dow Inc.
• Eastman Chemical Corporation
• INEOS
• LyondellBasell
• Mitsubishi Chemical Corporation
• Mitsui Chemicals Inc.
• The Rampf Holding GmbH
• Tosoh Corporation
• Others

Recent Developments:

• In June 2025, Covestro launched production of its new Desmopan Rx medical-grade Thermoplastic Polyurethane (TPU) at its Changhua site in Taiwan, which has been qualified for medical-grade TPU manufacturing.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Asia Pacific, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Asia Pacific Polyurethane Market based on the below-mentioned segments:

Asia Pacific Polyurethane Market, By Raw Material

• Toluene Di-Isocyanate
• Methylene Diphenyl Di-Isocyanate
• Polyols
• Others

Asia Pacific Polyurethane Market, By Product

• Rigid Foam
• Flexible Foam
• Coatings
• Adhesives & Sealants
• Elastomers
• Others

Asia Pacific Polyurethane Market, By Application

• Furniture & Interiors
• Construction
• Electronics & Appliances
• Automotive
• Footwear
• Packaging
• Others