The polyurethanes market is expected to grow at a rapid rate during the forecast period, 2018-2023. Polyurethane-based foams are used as insulating materials in homes, refrigerators, and for many other uses. Insulating foams help consumers save on their heating and cooling costs.
Growing Demand from the Construction Industry
With the rising number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run. According to the Department of Energy, heating and cooling costs account for 48% of the energy use in a typical US home. Spray polyurethanes are important solutions in improving a home’s energy efficiency, along with other insulating foams. Various government projects, including Affordable Housing Initiative (AHI), New Building Canada Plan (NBCP), and Made in Canada are expected to hugely drive the growth in this sector, further promoting the use of polyurethane in the construction industry.
Growing Usage of Elastomers in the Footwear Industry
Footwear is the largest end-user industry of polyurethanes. Footwear applications, including microcellular products and thermoplastic polyurethane products, accounted for more than half of the total consumption of elastomers. The consumption of thermoplastic elastomers is also expected to continue to increase, as a result of the gradual replacement of EVA (ethyl vinyl acetate), PVC (poly vinyl chloride), and other elastomer materials, for the production of footwear. Although polyurethanes are mostly used in sports and trekking shoes, it is also used for making business and fashion shoe soles, as well as in high-quality safety shoes extensively. Consumption of thermoplastic elastomers is also expected to be stimulated by their increasing usage in film applications.
Asia-Pacific to Lead the Polyurethanes Market
Elastomer is the largest non-foam application segment in the largest regional market (Asia-Pacific) of the polyurethane industry. The development of polyurethane in Asia-Pacific was strongly promoted by the growth of the footwear industry in China in the form of polyurethane elastomer. The Chinese footwear industry began with the shift of footwear production from Western nations to China, at the beginning of this century. The consumption of polyurethane elastomers in India and ASEAN countries has been increasing, as a result of the increasing production of shoes, sporting goods, industrial materials, and consumer goods.
Notable Developments in Polyurethanes Market
- November 2017: Dow added new capabilities to serve the growing European polyurethane system market, in turn serving customers in the growing industrial and infrastructural markets.
- December 2017: BASF invested in smart supply chain Start-up Ahrma. Ahrma offered a complete, rentable supply chain solution consisting of a pallet coated with BASF’s Polyurethane Spray system Elastocoat C.
Polyurethanes Market Major Key Players: BASF SE, Huntsman Corp., Tosoh Corporation, Covestro AG, and DowDuPont, among others.
Reasons to Purchase Polyurethanes Market Report
- To understand the impact of end-user applications on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Countries expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with Market Estimate sheet (in excel)
Customization of Polyurethanes Market Report
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1.1 Research Phases
1.2 Scope of the Market
1.3 Study Deliverables
2. Executive Summary
3. Polyurethanes Market Insights
3.1 Indstry Value Chain Analysis
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Polyurethanes Market Dynamics
4.1 Polyurethanes Market Drivers
4.1.1 Growing Demand from the Bedding, Carpet & cushioning industry
4.1.2 Growing Demand from the Construction industry
4.1.3 Recyclable products
4.2 Polyurethanes Market Restraints
4.2.1 Volatile Raw Material Prices
4.2.2 Competition from Fiberglass and Polystyrene Foam
4.3 Polyurethanes Market Opportunities
4.3.1 Increasing demand for Bio-based Polyurethane
4.3.2 Other Opportunities
5. Polyurethanes Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 Polyurethanes Market By Application
188.8.131.52 Rigid Foam
184.108.40.206 Flexible Foam
5.1.3 Adhesive & Sealant
5.2 Polyurethanes Market By End-user Industry
5.2.1 Furniture & Interior
5.2.2 Building & Construction
5.2.3 Electronics & Appliances
5.2.7 Others (Industrial, Textiles & Apparel, Fibers, Medical, and Marine)
6. Regional Polyurethanes Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific Polyurethanes Market Report (2018-2023)
6.1.1 India Polyurethanes Market Report (2018-2023)
6.1.2 China Polyurethanes Market Report (2018-2023)
6.1.3 Japan Polyurethanes Market Report (2018-2023)
6.1.4 South Korea Polyurethanes Market Report (2018-2023)
6.1.5 Rest of Asia-Pacific
6.2 North America Polyurethanes Market Report (2018-2023)
6.2.1 United States Polyurethanes Market Report (2018-2023)
6.2.2 Canada Polyurethanes Market Report (2018-2023)
6.2.3 Mexico Polyurethanes Market Report (2018-2023)
6.2.4 Rest of North America
6.3 Europe Polyurethanes Market Report (2018-2023)
6.3.1 Germany Polyurethanes Market Report (2018-2023)
6.3.2 United Kingdom Polyurethanes Market Report (2018-2023)
6.3.3 Italy Polyurethanes Market Report (2018-2023)
6.3.4 France Polyurethanes Market Report (2018-2023)
6.3.5 Russia Polyurethanes Market Report (2018-2023)
6.3.6 Rest of Europe
6.4 South America Polyurethanes Market Report (2018-2023)
6.4.1 Brazil Polyurethanes Market Report (2018-2023)
6.4.2 Argentina Polyurethanes Market Report (2018-2023)
6.4.3 Rest of South America
6.5 Middle East & Africa Polyurethanes Market Report (2018-2023)
6.5.1 Saudi Arabia Polyurethanes Market Report (2018-2023)
6.5.2 South AfricaPolyurethanes Market Report (2018-2023)
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis***
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 BASF SE
8.2 Armacell Enterprise GmbH & Co. KG
8.3 Carpenter Co.
8.4 Chemtura Corp.
8.7 Eurofoam Group Co.
8.8 Foam Supplies Inc.
8.9 Foamcraft Inc.
8.10 FoamPartner Group
8.11 Future Foam Inc.
8.12 FXI-Foamex Innovations
8.13 Huntsman Corp.
8.14 INOAC Corp.
8.15 Mitsui Chemicals
8.16 Nitto Denko Corporation
8.17 Recticel SA
8.18 Rogers Corp.
8.19 Saint-Gobain Performance Plastics Corp.
8.20 Sekisui Chemical Co. Ltd
8.21 The Vita Group
8.22 The Woodbridge group
8.23 Tosoh Corporation
8.24 Trelleborg AG
8.25 UFP Technologies Inc.
8.26 Wanhua Industrial Group
*List Not Exhaustive
**Subject to availability on public domain