Polyurethane Elastomers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Application (Footwear, Industrial Machinery, Automotive & Transportation, and Others), Type (Thermoplastic, and Thermoset) and Geography (Asia-Pacific, North America, South America, Europe, and Middle-East and Africa). The report offers market size and forecasts in revenue (USD million) for all the above segments.

Market Snapshot

Polyurethane Elastomers Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >3 %

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Market Overview

The market for Polyurethane Elastomers is expected to grow at a CAGR of more than 3% during the forecast period. Major factors driving the market studied are increasing demand from footwear industry and growing application in automotive and consumer goods industries.Lower durability and environmental concerns caused by polyurethane are expected to hinder the growth of the market studied.

  • Footwear industry dominated the market and is expected to grow during the forecast period owing to the increasing population.
  • In automobile industry polyurethane elastomers are used in the manufacture of body panels and bumpers increasing the scope for this market in the coming years.
  • Increasing demand for bio-based polyurethane products could act as an opportunity for this market in the coming years.
  • Asia-Pacific region dominated the market for polyurethane elastomers with India, China, Japan as major countries in consumption.

Scope of the Report

The Polyurethane Elastomers market report is segmented by application, type, and geography. By application, the market is segmented into Footwear, Industrial Machinery, Automotive & Transportation, and Others. By rype, the market is segmented into Thermoplastic, and Thermoset. The report also covers the market size and forecasts for the polyurethane elastomers market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Industrial Machinery
Automotive & Transportation
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Footwear Industry Representing the Fastest Growing Market

  • Polyurethane elastomers are class of the polyurethane group that have the characteristics of rubber.Polyurethane elastomers are formed by combining hard (isocyanate) and elastic (polyol) parts and changing these selections creates the superior quality of the polyurethane elastomers.
  • Polyurethane Elastomers are majorly used in footwear industry to produce high tensile and flexible soles using formulations that regulate flexibility ranging from temperatures ‘0 degree Celsius to 80 degree Celsius’ thereby producing superior quality and durable products increasing the scope for this market. 
  • In 2019, the average revenue generated by the shoe industry in the United States per person was USD 277.09 which is about USD 60 higher than the revenue generated in 2018 hence, showing rapid growth in this sector. 
  • Growing population is aiding the market for footwear industry in countries like China, India, Japan creating a major market for polyurethane elastomers.
Polyurethane Elastomers Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • Asia Pacific region is expected to dominate the market for vinyl ester during the forecast period. In countries like China, India due to the increasing applications in footwear and other consumer goods industries like leather, and automotive, the market for polyurethane elastomers has been increasing. 
  • The largest producers of polyurethane elastomers are located in Asia-Pacific. Some of the leading companies in the production of polyurethane elastomers are Tosoh Corporation, INOAC CORPORATION, Huntsman Corp, Mitsui Chemicals.Inc, Wanhua Chemical Group Co.Ltd
  • The Leather industry in India accounts for around 12.9% of the world’s leather production which constitutes 9% of the world’s footwear production increasing demand for this market in the region.
  • Elastomers of polyurethane are also used where high degree of dynamic stress is anticipated. These elastomers are also used as coatings when corrosion resistance is preferred, for inhibiting moisture transmission, preventing abrasion damage. 
  • The physical properties of polyurethane elastomers like tensile strength, compression strength, and tear strength is increasing its demand in automobile industry. 
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand polyurethane elastomers during the forecast period.
Polyurethane Elastomers Market - Regional Trends

Competitive Landscape

The global polyurethane elastomers market is fragmented with players accounting for a marginal share of the market. Few companies include Tosoh Corporation, INOAC CORPORATION, Huntsman Corp, Mitsui Chemicals.Inc,Wanhua Chemical Group Co.Ltd.

Recent Developments

  • In January 2021, Lanxess developed a new Adiprene polyurethane elastomer. The 95 Shore A hardness elastomer gives low heat build-up in rollers that move quickly and are highly stressed.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Footwear Industry

      2. 4.1.2 Growing Application in Automotive and Consumer Goods Industries

    2. 4.2 Restraints

      1. 4.2.1 Lower Durability of Polyurethane Elastomers

      2. 4.2.2 Environmental Concerns Caused by Polyurethane

      3. 4.2.3 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Application

      1. 5.1.1 Footwear

      2. 5.1.2 Industrial Machinery

      3. 5.1.3 Automotive & Transportation

      4. 5.1.4 Others

    2. 5.2 Type

      1. 5.2.1 Thermoplastic

      2. 5.2.2 Thermoset

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


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

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 American Urethane,Inc

      2. 6.4.2 Argonics,Inc

      3. 6.4.3 Covestro AG

      4. 6.4.4 Dow

      5. 6.4.5 Huntsman Corp


      7. 6.4.7 Lanxess

      8. 6.4.8 Mitsui Chemicals, Inc

      9. 6.4.9 Ravelast Polymers

      10. 6.4.10 Tosoh Corporation

      11. 6.4.11 The Lubrizol Corporation

      12. 6.4.12 Unicast Engineered Urethane Products

      13. 6.4.13 Wanhua Chemical Group Co.,Ltd.

      14. 6.4.14 Weaver Industries,Inc

    5. *List Not Exhaustive

    1. 7.1 Increasing Demand for Bio-based Polyurethane Elastomers

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Polyurethane Elastomers Market market is studied from 2016 - 2026.

The Polyurethane Elastomers Market is growing at a CAGR of >3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Tosoh Corporation , Mitsui Chemicals.Inc , Wanhua Chemical Group Co.Ltd. , INOAC CORPORATION , Huntsman International LLC are the major companies operating in Polyurethane Elastomers Market.

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