Asia-Pacific has traditionally been the largest producer and exporter of polyurethane materials, owing to availability of cheap labour, raw materials and local government support. The increase in the number of production facilities in countries such as China is also considered to be the primary reason for demand growth. Robust growth of over 7% in key end-user industries such as construction, automotive, furniture and electronics has resulted in Asia-Pacific dominating the demand for polyurethanes with market share of about 47%. Coatings, adhesives, sealants and elastomers account for 41% economic activity of the world’s polyurethane industry.
Polyurethanes are some of the most versatile polymers in existence today. They exist in myriad forms ranging from rigid foams to dense solid compositions and from flexible foams to elastomers. Polyurethanes are commercially available in various forms, ranging from flexible or rigid lightweight foams to tough, stiff, and strong elastomers. This enables their use in a wide variety of consumer and industrial applications such as thermal insulation of buildings, refrigerators, household furniture, automotive seating, shoe soles. A shift in production from China to countries where goods can be produced at lower cost is set to change the landscape of the global polyurethane industry. The landscape could change further as companies consider shifting production to even cheaper countries like Vietnam.
The Asia Pacific Polyurethane market is segmented by Application (Foams-Rigid and Flexible, Adhesives and Sealants, Coatings, Elastomers, and others), by industry (Furniture and Interiors, Constructions, Automotive and others) and regionally (India, China, Japan, South Korea and other countries). The Key players in the market are BASF SE, Bayer, Dow Chemicals, Nippon Polyurethane Industry, Chemtura Corp.
There is a growing demand from the bedding, cushioning and carpeting industry, a growing demand from the construction industry and these products are preferred as they are recyclable.
There is a strong competition from the fiberglass and polystyrene industries.
WHAT THE REPORT OFFERS?
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis for the Asia-Pacific Polyurethane market with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the Asia-Pacific Polyurethane market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.