The global polyurethane market is expected to reach USD 83.1 billion in 2022 and grow at a 7.0% CAGR from 2022 to 2032, surpassing USD 162.3 billion by the end of 2032. The polyurethane market is large and diverse, producing a wide range of products used in a variety of applications. Polyurethanes are polymers produced by the reaction of polyols and diisocyanates. They are well-known for their adaptability, durability, and resistance to wear, tear, and the elements.
The growing demand for polyurethane foam in the construction, automotive, and furniture industries is driving the global polyurethane market. Because of its excellent insulation properties, energy efficiency, and cost-effectiveness, polyurethane foam is widely used as an insulation material in the construction industry. Polyurethane foam is used in the automotive industry for seats, headrests, and other components due to its lightweight, comfort, and durability. Polyurethane foam is used in the furniture industry for cushions, mattresses, and upholstery because of its comfort, support, and durability.
Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=7359
Key Takeaways from Polyurethane Market Study
- The global polyurethane market is valued at USD 83.1 Billion in the year 2022 and is projected to grow at 7.0% CAGR to exceed the valuation of USD 162.3 Billion by the end of 2032
- Global polyurethane market witnessed 5.0% CAGR for the period of 2017-2021
- Under product type segment, rigid foam dominates the market by holding 30.9% of the overall polyurethane market share and is projected to rise at the rate of 8.3% CAGR during the forecast years, to hold 35.5% of the overall market share
- The construction segment under application is valued at USD 22.7 Billion in the year 2022 and is projected to grow at the rate of 8.2% CAGR during the forecast years to be valued at USD 49.7 Billion by the end of 2032
- Based on the region, the demand for polyurethane is expected to grow at a CAGR of 7.1% and 7.4% in East Asia and South Asia & Oceania region respectively over the forecast period
- Together, North America and Europe is likely to represent over 59.8% of overall market share in 2022
Development of Polyurethane Market
The major players in the polyurethane market are concentrating on enhancing their brand presence by properly utilizing promotional strategies to market their goods and grow their customer base. They are implementing a variety of promotional advertising strategies, such as product launches, partnerships, collaborations, capacity expansion, etc., to increase brand recognition and generate more revenue in the upcoming years.
Market leaders in polyurethane are concentrating on snatching up significant market share by utilizing a strong distribution network and integrating their sales channel, which has allowed them to produce steady demand over time.
Key players in the Polyurethane Market
- Covestro AG
- The Dow Chemical Company
- Huntsman Corporation
- Yantai Wanhua Polyurethanes Co. Ltd.
- Foamcraft Inc.
- Lanxess
- Eurofoam Group
- Tosoh Corporation
- Future Foam, Inc.
- Armacell
-
Saint Gobain S.A
