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Middle East & Africa Polyurethane Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Application (Foams, Coatings, Adhesives and Sealants, Elastomers, and Other Applications), End User (Furniture and Interiors, Building and Construction, Electronics and Appliances, Automotive, Footwear, Packaging, and Other End Users), and Geography.

Market Snapshot

Middle East & Africa Polyurethane Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Key Players:

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Market Overview

The polyurethane market in Middle East & Africa is expected to witness a healthy growth, at an estimated CAGR of 5.75%, in terms of volume, over 2019-2024. The major factors driving the growth of the polyurethane market are the growing requirement of thermal insulation from the electronics and appliances industry, and rising demand from the building and construction industry. On the flipside, volative raw material prices and toxic nature of polyurethane coatings are expected to hinder the growth of market.

  • Growing awareness of the Energy Efficiency Policy related to buildings in the Middle Eastern region is likely to act as an opportunity for the market growth, in the future.
  • In 2018, the foams segment was estimated to be the largest and accounted for 50% of the market (in terms of volume).
  • In 2018, the building and construction segment accounted for the largest share, with 30%, of the market (in terms of volume).

Scope of the Report

The Middle East & African polyurethane market report includes:

 

Application
Foams
Rigid Foam
Flexible Foam
Coatings
Adhesives and Sealants
Elastomers
Other Applications
End User
Furniture and Interiors
Building and Construction
Electronics and Appliances
Automotive
Footwear
Packaging
Other End Users
Geography
Saudi Arabia
United Arab Emirates
South Africa
Egypt
Kuwait
Qatar
Morocco
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Building and Construction Industry

  • Polyurethane finds its largest application in the building and construction industry, where it is used in various household, commercial, and industrial applications. With its excellent strength-to-weight ratio, insulation properties, durability, and versatility, polyurethane is frequently used in building and construction applications.
  • The building and construction sector accounts for about 30% of polyurethanes consumption in the Middle East & African region, and represents a market for the diverse portfolio of polyurethane products.
  • There are many benefits of using rigid polyurethane foam insulation, which include its energy efficiency, high performance, versatility, thermal/mechanical performance, and its eco-friendly nature. Rigid polyurethane foams are widely applied as wall and roof insulation, insulated panels, and gap fillers for the space around doors and windows. Rigid foam adhesives are used in some window and door installations, as well as in manufactured housing.
  • Some rigid polyurethane foams are applied on-site, to seal gaps and cover irregular shapes. Such foams include spray, pour-in-place, and one-component foams. Spray polyurethane foams form a seamless layer of insulation, fill gaps and seams during application, and cover irregular shapes that are hard to insulate with rigid boards. This reduces drafts considerably, while creating quiet buildings. For durability and stability, rigid polyurethane foam-cored entry doors and garage doors are available in various finishes and styles.
  • The construction sector in the Middle East & African region is expected to grow at the fastest pace, in 2019, as regional governments are investing in infrastructure projects and rebuilding conflict areas. The construction industry in the region is expected to grow on an average of 7.5% YoY, in 2019.
  • Thus, the aforementioned factors are expected to boost the market for polyurethanes, during the forecast period.
Middle East & Africa Polyurethane Market - Segmentation Trends

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Saudi Arabia to Dominate the Market

  • Saudi Arabia is an oil-based economy, with strong governmental control over all the major economic activities. The country has more than 15% of global oil reserves, and is one of the leading oil exporters, globally. Additionally, the country is expected to report the largest gains in public spending, financed by the National Development Funds and the Public Investment Fund.
  • Government and private investments in different sectors in the country are expected to lead to an increase in industrial and commercial building, and construction activity. An amount of USD 800 billion, for more than 5,200 construction projects, is being invested in Saudi Arabia, which is GCC’s largest and most populous country.
  • In addition, the country plans to promote tourism industry, and has 202 hotel projects (60,392 rooms) under construction.
  • Moreover, with the construction of residential houses, hotels, medical cities, the demand and, thereby, the production of furniture, and electrical and electronic products are projected to increase in the coming years.
  • Therefore, the growth in various end-user industries, such as construction, automotive, and packaging, is anticipated to provide huge opportunities for the growth of the polyurethane market in the country, during the forecast period.
Middle East & Africa Polyurethane Market - Regional Trends

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Competitive Landscape

The Middle East & African polyurethane market is highly consolidated, with a presence of only few players in the market. The top five players in the market control nearly 90% of the market share. Major players in the market include Covestro AG, BASF SE, DowDuPont, and Huntsman International LLC, among others.

Major Players

  1. Covestro AG
  2. DowDuPont
  3. Huntsman International LLC
  4. BASF SE

* Complete list of players covered available in the table of contents below

Middle East & Africa Polyurethane Market - Market concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Report

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Requirement of Thermal Insulation from the Electronics and Appliances Industry

      2. 4.1.2 Rising Demand from the Building and Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Volatile Raw Material Prices

      2. 4.2.2 Toxic Nature of Polyurethane Coatings

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Foams

        1. 5.1.1.1 Rigid Foam

        2. 5.1.1.2 Flexible Foam

      2. 5.1.2 Coatings

      3. 5.1.3 Adhesives and Sealants

      4. 5.1.4 Elastomers

      5. 5.1.5 Other Applications

    2. 5.2 End User

      1. 5.2.1 Furniture and Interiors

      2. 5.2.2 Building and Construction

      3. 5.2.3 Electronics and Appliances

      4. 5.2.4 Automotive

      5. 5.2.5 Footwear

      6. 5.2.6 Packaging

      7. 5.2.7 Other End Users

    3. 5.3 Geography

      1. 5.3.1 Saudi Arabia

      2. 5.3.2 United Arab Emirates

      3. 5.3.3 South Africa

      4. 5.3.4 Egypt

      5. 5.3.5 Kuwait

      6. 5.3.6 Qatar

      7. 5.3.7 Morocco

      8. 5.3.8 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 BCI Holding SA

      3. 6.4.3 Covestro AG

      4. 6.4.4 DowDuPont

      5. 6.4.5 Huntsman International LLC

      6. 6.4.6 Kuwait Polyurethane Industries WLL

      7. 6.4.7 LANXESS (Chemtura)

      8. 6.4.8 Mitsui Chemicals Inc.

      9. 6.4.9 Perfect Rubber Industries LLC

      10. 6.4.10 Wanhua Chemical Group Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Awareness of Energy Efficiency Policy related to Buildings in the Middle Eastern Region

    2. 7.2 Increasing Demand for Bio-based Polyurethane

**Subject to Availability

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