Polyurethane Market, By Application (Foams, Coatings, Adhesives and Sealants, Elastomers, and Other Applications), By End-User Industry (Furniture and Interiors, Furniture Upholstery, Mattresses, Building and Construction, Electronics and Appliances, Automotive, Footwear, Packaging, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI411620 | Publish Date: December 2023 | No. of Pages: 168

Global Polyurethane Market By Application Overview

Introduction:Polyurethane also termed as PUR or PU is a kind of polymer composed of organic units collectively by carbonate (urethane links). It is a part of polymer family but is different from all other forms of plastic polymers available. It is a versatile, modern and safe form of plastic polymer material available today and used on a large scale for a number of applications. They are highly used for producing consumer and industrial products which are environment-friendly. They are formed commonly by reaction of di-isocyanate or poly-isocyanate with a polyol. Both of these isocyanates are used to produce PU material with two or more functional groups in per molecule. They can be produced in rigid or flexible form. They are being commonly used to manufacture high-resilience foam seating, rigid foam insulation panels, foam seats & gaskets, elastomeric wheels and tires, high-performance adhesives and surface coatings along with sealants. The Global Polyurethane Market accounted for US$ 69.68 billion in 2020 and is estimated to be US$ 88.76 billion by 2030 and is anticipated to register a CAGR of 2.50%.

Polyurethane also termed as PUR or PU is a kind of polymer composed of organic units collectively by carbonate (urethane links). It is a part of polymer family but is different from all other forms of plastic polymers available. It is a versatile, modern and safe form of plastic polymer material available today and used on a large scale for a number of applications. They are highly used for producing consumer and industrial products which are environment-friendly. They are formed commonly by reaction of di-isocyanate or poly-isocyanate with a polyol. Both of these isocyanates are used to produce PU material with two or more functional groups in per molecule. They can be produced in rigid or flexible form. They are being commonly used to manufacture high-resilience foam seating, rigid foam insulation panels, foam seats & gaskets, elastomeric wheels and tires, high-performance adhesives and surface coatings along with sealants. The Global Polyurethane Market accounted for US$ 69.68 billion in 2020 and is estimated to be US$ 88.76 billion by 2030 and is anticipated to register a CAGR of 2.50%.

Global Polyurethane Market By Application Dynamics

                       

Rising demand from industries

The major factor driving the global polyurethane market is the rising demand from bedding, carpet, and cushioning industry. Increasing demand for lightweight and durable products in the automotive, construction, and electronics industries is estimated to boost target market growth in the upcoming period.

Innovative production technologies

Growing end-use industries in developing nations and the product’s versatility and unique physical properties are estimated to fuel overall industrial growth. Moreover, rising use of innovative production technologies for polyurethane (PU) with advanced characteristics is estimated to have a positive impact on target market growth. A shift in trend toward replacement of conventional heavy materials like metals with light-weight and high-performance plastics is boosting the use of polyurethane. Improving lifestyle with increased disposable income have accelerated the demand in different sectors.

Rising demand for vehicle seating etc.

Rising demand for vehicle seating, refrigeration and insulation are further boosting the target market growth. Competition from fiberglass and polystyrene foam is expected to hinder the growth of the global polyurethane market. Strict environmental policies owing to release of toxic gases on burning of fossil fuels and fluctuating raw material costs are factors estimated to hamper the market over the forecast period. Increasing demand for bio-based polyurethane is likely to act as an opportunity in the future for polyurethane market. Government support for infrastructure development is boosting the construction sector globally along with this there is increased market opportunity for PUR to be used as insulation material.

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Global Polyurethane Market By Application Segmentation

                            

The global polyurethane market is segmented based on application, end-user industry, and region.

Based on application, the global polyurethane market is segmented into the foams, coatings, adhesives and sealants, elastomers, and other applications. The foam segment dominated the market with a share of more than 65% and is expected to grow at a significant rate during the forecast period, owing to the increasing application as an insulating agent. Based on end-user industry, the target market is bifurcated into furniture and interiors, furniture upholstery, mattresses, building and construction, electronics and appliances, automotive, footwear, packaging, and others. The building and construction industry is by far the largest consumer for rigid and sprays polyurethane foam. With rising number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run.

 

Regional Insights:

                    

For detailed understanding of market dynamics, based on the region the global polyurethane market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts highest revenue share to the global polyurethane market.  With growing construction activities and rapid urbanization in countries, such as China and India, the usage of polyurethane is increasing in the region. Europe is second-largest regional market owing to rising demand for PU products from several industries like automotive, furniture, packaging, and construction. The U.S. government initiative to advance energy efficiency of low-income households by means of thermal insulation through federal funding is estimated to boost the North America market.

                              

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Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2029

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Application- Foams, Coatings, Adhesives and Sealants, Elastomers, and Other Applications

 By End-User- Furniture and Interiors, Furniture Upholstery, Mattresses, Building and Construction, Electronics and Appliances, Automotive, Footwear, Packaging, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Global Polyurethane Market, By Application:

  • Foams
  • Coatings
  • Adhesives and Sealants
  • Elastomers
  • Other Applications

Global Polyurethane Market, By End-User Industry:

  • Furniture and Interiors
  • Furniture Upholstery
  • Mattresses
  • Building and Construction
  • Electronics and Appliances
  • Automotive
  • Footwear
  • Packaging
  • Others

Global Polyurethane Market, By Region:

      • North America
        • North America Polyurethane Market, By Application
        • North America Polyurethane Market, By End-User Industry
        • North America Polyurethane Market, By Country
          • U.S.
          • Canada
      • Europe
        • Europe Polyurethane Market, By Application
        • Europe Polyurethane Market, By End-User Industry
        • Europe Polyurethane Market, By Country
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
        • Asia Pacific Polyurethane Market, By Application
        • Asia Pacific Polyurethane Market, By End-User Industry
        • Asia Pacific Polyurethane Market, By Country
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
        • Latin America Polyurethane Market, By Application
        • Latin America Polyurethane Market, By End-User Industry
        • Latin America Polyurethane Market, By Country
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
        • Middle East & Africa Polyurethane Market, By Application
        • Middle East & Africa Polyurethane Market, By End-User Industry
        • Middle East & Africa Polyurethane Market, By Country
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Polyurethane Market By Application Key Players

                                               

The key players operating the global Polyurethane market involves Bayer Material Science (Covestro), BASF, British Vita Unlimited, Foamex Innovations, Huntsman Corporation, Mitsui Chemicals, Nippon Polyurethane Industry Corporation Ltd., Recticel SA, The Dow Chemical Company (DowDuPont Inc.), Woodbridge Foam Corporation. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, in September 2018, BASF, a global manufacturer of chemicals, introduced its new polyurethane production facility in Taiwan. This expanded capacity will meet the growing demand for PU material across various industries and will serve customer requirements in Asia Pacific.

Global Polyurethane Market By Application Company Profile

        • Bayer Material Science (Covestro)
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • BASF
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • British Vita Unlimited
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Foamex Innovations
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Huntsman Corporation
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Mitsui Chemicals
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Nippon Polyurethane Industry Corporation Ltd.
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Recticel SA
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • The Dow Chemical Company (DowDuPont Inc.)
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies
        • Woodbridge Foam Corporation
          • Company Overview 
          • Product Portfolio
          • Key Highlights
          • Financial Performance
          • Business Strategies

Global Polyurethane Market By Application Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Application
    • Market Snippet, By End-User Industry
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Polyurethane Market, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Foams
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Coatings
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Adhesives and Sealants
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Elastomers
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Other Applications
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Polyurethane Market, By End-User Industry, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Furniture and Interiors
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Furniture and Interiors
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Mattresses
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Building and Construction
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Electronics and Appliances
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Automotive
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Footwear
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Packaging
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Polyurethane Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • Bayer Material Science
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • BASF
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • British Vita Unlimited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • British Vita Unlimited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Huntsman Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Mitsui Chemicals  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nippon Polyurethane Industry Corporation Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Recticel SA.  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • The Dow Chemical Company    
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Woodbridge Foam Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

The global polyurethane market is segmented based on application, end-user industry, and region.

Rising demand for vehicle seating, refrigeration and insulation are further boosting the target market growth.

Asia-Pacific is expected to account for major market share as compared to that of other regions in the near future.

The key players operating the global Polyurethane market involves Bayer Material Science (Covestro), BASF, British Vita Unlimited, Foamex Innovations, Huntsman Corporation, Mitsui Chemicals, Nippon Polyurethane Industry Corporation Ltd., Recticel SA, The Dow Chemical Company (DowDuPont Inc.), Woodbridge Foam Corporation.