Europe Polyurethanes Market has been estimated at USD XX Billion in 2016 by revenue and XX million tons in 2016 and is projected to reach USD XX billion by 2021 and XX million tons by 2021, at a CAGR of XX% and XX% by revenue and volume respectively during the forecasted period from 2016 to 2021.
The industry is anticipated to face a strong growth by the reinforcement of construction industry especially in Eastern Europe countries such as Poland, Hungary, and Slovakia. Furthermore, the EU schemes to provide financial incentives for the use of environmentally friendly products is expected to drive the market for Polyurethanes. Germany was the leading consumer of PU in Europe with demand share estimated at ~18% in 2015 owing to its major automotive sector and export business of cars. On the other side, volatility in the price of the raw material used to manufacture PU hinders the growth of the market. With the rise in concern about the use of PU owing to its VOC emission characteristics is forcing the key players to look for substitutes for PU.
The market is segmented on the basis of application as foams, coatings, adhesives & sealants, elastomers, and others. The foam was reported to be the highest consumed application accounting for over 35% of the European market volume in 2015. EU regulations eyeing to the energy efficiency of households and financial incentives further drive the foams growth. It is expected to witness the highest growth in the segment at an estimated CAGR of 4.0% over the forecast period. (2016-2021) The market on the basis of end-user industry is segmented as furniture, construction, electronics & appliances, automotive, footwear, packaging, and others. The construction industry was the largest consumer of PU in this segment accounting for ~37% of the overall volume in 2015. Electronics & appliances is expected to witness the highest compound annual growth rate of 5.3% over the forecasted period.
By geography, the market is segmented as France, Italy, Spain, the Netherlands, Germany, UK, Russia, Czech Republic, the Nordic Countries, and rest of Europe. Germany is the leading market for PU in Europe accounting for ~18% of the market owing to its mature automotive industry. Russia is expected to witness the highest growth over the forecasted period owing to high construction output.
Furthermore, increasing demand from the furniture industry and rising interest for bio-polyurethanes will offer numerous opportunities for the Polyurethanes market growth in Europe. Some of the major companies in the region, dominating this market for its products, services and continuous product development are:
Key Deliverables in the Study