Polyurethane Market Analysis: Size, Share, Trends, and Forecast

Polyurethane Market Size and Forecast

The size of the global polyurethane market is expected to grow at a CAGR of more than 7% between 2016-2020, while the global polyurethane additives market will grow at a CAGR of 6%, reaching USD 2.68 billion in market size by 2021. The growth of these markets is attributed to the increasing demand from various end-user industries, especially building and construction. Rigid polyurethane foam has extensive usage in thermal insulation of walls for buildings, vessels for refrigerated cargo, light-weight products used in construction applications, pipelines, and cryogenic wind tunnels. These foams have preference over conventional materials such as fiberglass and mineral wool due to the relatively higher insulation offered by them. By end-user, the building and construction segment accounts for approximately 36% of the total global polyurethane additives market share. 

Additionally, Technavio's polyurethane market analysis highlights that numerous major segments are also expected to witness strong growth over the next few years. For instance, the global polyurethane adhesives market is expected to register a CAGR of more than 7% by 2021, meanwhile, the global polyurethane sealants market is expected to grow at a 5% CAGR during the same time frame. The growth of these major segments will further contribute to the increasing market size of the polyurethane market over the next few years.

Several emerging trends are expected to gain traction within the polyurethane industry over the next few years and positively impact market growth. These top trends include a rising dependency on manufacturers in the Asia-Pacific (APAC), a growing demand from the electronics industry, and increased investments in R&D. Major polyurethane additives players such as BASF, Huntsman International, and Dow Chemical Company have increased their R&D expenditure to reduce manufacturing costs and provide products with enhanced properties and usage. For example, Dow Chemical Company developed the RENUVA Renewable Resource Technology, which breaks down natural oil to provide better quality and consistency. Other insights provided in our polyurethane market report include:

Polyurethane Market Insights

  • Polyurethane foams are lightweight, chemically stable, versatile, flexible, durable, and offer more thermal resistance in insulations. Moreover, polyurethane foam offers better moisture resistance and provides long-term, accurate, and high-performance insulation, making them the most suitable in the refrigeration segment. The demand for polyurethane from various end-users such as the automotive industry is expected to increase significantly during the forecast period.
  • The recyclability feature of thermoplastic polyurethane will be one of the significant factors that will have a positive impact on the growth of the global thermoplastic polyurethane market. TPU is mainly recycled in two ways such as mechanical and chemical recycling and large-scale TPU recycling generally takes place during building demolition. Mechanical recycling enables the reuse of this material in its polymer form and chemical recycling involves the reduction of this material to its many chemical elements. Owing to their recyclability, the demand for TPUs will increase in the coming years.
  • The rapid urbanization and industrialization in APAC are propelling the need for insulation. This, in turn, boosts the demand for polyurethane additives. The growing demand for polyurethane additives from the automotive industry is identified as one of the critical drivers for the market’s growth in the forthcoming years. Polyurethane additives are extensively used for several applications to offer both comfort and insulation. Silicone surfactants, release agents, and other additives improve the durability, comfort, and appearance of cushions for headrests, seating, and armrests. Due to these factors, we forecast the global polyurethane additives market to increase USD 703 million by 2021.

Polyurethane Market Share and Segmentation

Within our polyurethane industry analysis, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment the polyurethane market by polyurethane type and end-user industry.

Our polyurethane market segmentation research offerings include:

  • Polyurethane Market by Type
    • Polyurethane foam market
      • Flexible foam market
      • Rigid foam market
      • Spray foam market
    • Polyurethane coatings market
    • Polyurethane adhesives & sealants market
    • Polyurethane elastomers market
  • Polyurethane Market by Industry
    • Polyurethane for building & construction market
    • Polyurethane for bedding & furniture market
    • Polyurethane for electronics market
    • Polyurethane for automotive market
    • Polyurethane for packaging market
    • Polyurethane for footwear market
    • Polyurethane for marine market
    • Polyurethane for industrial textile and apparel market
    • Polyurethane for fibers market
    • Polyurethane for medical market

We at Technavio, with our comprehensive understanding of the polyurethane market, have been monitoring the latest polyurethane industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our polyurethane market reports offer the following insights:

  • Polyurethane industry overview
  • Polyurethane industry statistics
  • Polyurethane market size
  • Polyurethane market share
  • Polyurethane market growth
  • Polyurethane market forecast
  • Polyurethane market trends

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