The global polyurethane market is anticipated to grow at a significant CAGR of 6.9% during the forecast period. Polyurethane’s chemical composition allows for molded shapes and added comfort and convenience to industrial and consumer products. A wide range of polyurethane applications is driving the polyurethane market. Mechanical properties such as durability, strength, and lightweight make polyurethane a very important material in day-to-day life. Changing lifestyle and material preferences is a major driver in the furniture and bedding segment of polyurethanes. For Instance in 2019, According to American Chemistry Council, $89.3 Billion in total output was generated by polyurethanes in the US and according to CPI (Center for the polyurethanes industry) Flexible polyurethane foam accounts for about 30 percent of the entire North American polyurethane market, and is used largely for bedding, furniture and in the automotive industry.
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COVID-19 impacted negatively the polyurethanes market as the lockdown stopped many operations, there is a certain pause to manufacturing activities, causing interference in the production of raw materials across the globe due to the COVID- 19 pandemic. Thus, it is impacting the market. However, many polyurethane producers in the cooling and refrigeration sector are re-directing part of their work to the creation of storage systems, such as special coolers, where COVID-19 vaccines can be stored. These refrigerators use resistant polyurethane foam which insulates to protect against warming and ensure vaccine doses stand up to the rigors of long-distance journeys to reach patients across continents and countries. As the production of vaccines constantly increases and distribution become systematic, the polyurethane industry is ramping up to meet the demand, and manufacturers of these specialized coolers also have begun to refine their designs to be even more durable, lightweight, and energy-efficient.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Polyurethanes Market by Raw Material
- Toluene Diisocyanate
- Methylene Diphenyl Diisocyanate
- Polyols
Global Polyurethanes Market by Application
- Flexible Foam
- Rigid Foam
- Snuff Coatings
- Sealants
- Adhesives
- Elastomer
- Other
Global Polyurethanes Market by End-User
- Automobile
- Construction Material
- Footwear
- Furniture And Bedding
- Electronics
- Other
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Accella Polyurethane Systems
- Air Products
- Baxenden Chemicals
- Bayer A.G
- Dsm N.V.
- Du Pont
- Evonik Industries Ag
- Inov Polyurethane Group
- Mitsui Chemicals Inc.
- NCFI Polyurethanes
- Polyurethane Ltd.
- Recticel
- The Shepherd Chemical Co.
- The Vita Group
- The Woodbridge Group
- Tosoh Corp.
- Wanhua Chemicals
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global polyurethanes market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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