The report predicts the global Polyurethane Market to grow at a healthy CAGR Of 5.6% over the forecast period from 2022-2031.
“The global market for polyurethane is projected to grow at a CAGR of 5.6% from 2022 to 2031”
The global polyurethane market is projected to reach USD 56.76 billion by 2031, at a CAGR of 5.6%, from 2022 to 2031. The growing middle class with increasing disposable incomes, and rising urbanization supplemented strongly by investments in infrastructure is driving the global polyurethane market. The risk of exposure and environmental impact of the raw materials restrain the polyurethane market.
“Flexible foam segment is the largest product segment of the polyurethane market”
The flexible foam segment is the largest market in the product segment of polyurethane and is estimated to remain the largest till 2021. The use of flexible foam in beddings, automobile interiors, and footwear is leading the market, which is projected to remain the largest market during the forecast period. The major driver in the flexible foam market is the use of memory foam, which has revitalized the bedding segment. This market has also been boosted by the growing expenditure in residential construction.
“Rising demand from Asia-Pacific is a major driver in the polyurethane market”
In 2015, the Asia-Pacific region was the largest polyurethane market, in terms of volume. It is estimated to retain market leadership during the forecast period. China and South Korea are the two major markets for polyurethane in this region. The growing automotive industry, along with several new OEM’s setting shop in the country is driving the market in the Asia-Pacific region, resulting in high demand for polyurethane. In addition, growing infrastructure is likely to drive the demand for polyurethane in the ASEAN countries.
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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below:
- By Company Type – Tier 1 – 41%, Tier 2 – 27%, and Others – 32%
- By Designation – C level – 36%, Director level – 27%, and Others – 36%
- By Region – North America – 32%, Europe – 27%, Asia-Pacific – 23%, South America – 9%, and Middle East and Africa – 9%
The key companies profiled in this market research report are, Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Wanhua Chemical Group Co. Ltd. (China), Huntsman Corporation (U.S.), Mitsui Chemicals Inc. (Japan), Chemtura Corporation (U.S.), Tosoh Corporation (Japan), Manali Petrochemicals Limited (India), and Woodbridge Foam Corporation (Canada).
The report provides an analysis of the global polyurethane market and its applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as, raw material type, product type, end-user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall polyurethane market and the subsegments. This report will help stakeholders better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report will also help the stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on polyurethane offered by the top players in the global polyurethane market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the polyurethane market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for polyurethane across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global polyurethane market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global polyurethane market