Global Polyurethanes Market Expected To Reach $ 76.85 Billion By 2021 With A CAGR Of 7.6%

Date: 2017-07-09

Polyurethane is versatile plastic polymer available in various forms right from rigid foam, flexible foam to strong and hard elastomers. Thus, this leads to usage of polyurethane in variety of consumer and industry applications such as thermal insulation in building, refrigerators, household furniture, shoes, packaging plastics etc. Owing to its properties polyurethane can be molded to any shape to enhance its industrial applications by providing comfort, style and convenience to one’s life.

The global Polyurethanes market was estimated at USD$ 53.28 billion in 2016, and is anticipated to reach USD$ 76.85 billion by 2021, expanding at a CAGR of 7.6% between 2017 and 2021. Polyurethanes are widely used in construction and infrastructure activity. Thus, growing demand of polyurethane owing to durability with low thermal conductivity and ability to withstand external impacts is augmented to drive the overall market. Further, increasing demand of high performance and lightweight interior components, cushion foams in automotive parts to foster energy saving will fuel the demand for polyurethane market growth.

Automotive polyurethanes market will witness growth at over 4% by 2021. Increasing automobile applications including instrument panels, exterior panels, engine encapsulation and seating as a better substitute over other conventional materials will support the application scope.

Construction polyurethanes market share was the major contributor, accounted for around 30% of the overall industry in 2016. Rising demand from acoustic and thermal insulation in households for effective energy conservation will enhance the industry demand. Varying MDI, PDI and polyol prices due to fluctuating crude oil index and stringent regulations on petrochemical based products are the major challenges of the industry.

Geographically, Asia-Pacific region represents highest market share in the Global Polyurethane followed by Europe and North America. China is largest producer and consumer of polyurethane owing to skilled labor, easy availability of raw materials and lenient government regulations. Countries like India are the growing market for polyurethane due to favorable government regulations along with Make in India campaign started recently to foster the manufacturing activities in country. Major players in automobile and construction industry are adopting low cost technology along with lightweight material for production. Hence, polyurethane market is anticipated to witnessed sustainable growth over the forecasted period. 

North America and Europe region being prominent players in automobile and consumer appliances drive the insulators and sealants for energy efficiency in polyurethane market over the forecasted period. Rising government initiatives for Green Building in Europe and North America is also expected to drive the polyurethane market growth.

According to survey, the region of Polyurethanes market share as following:
 
Key companies operating in this market include BASF SE, The Dow Chemical Company, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemical Corp., Woodbridge Foam Corp., RTP Company & Lubrizol Corp. companies among others.

Read Full Report: 
http://www.gosreports.com/global-polyurethanes-pu-market-research-report-2017/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
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