Global Polyurethane Additives Market Report and Forecast 2024-2032

Global Polyurethane Additives Market Outlook

The global polyurethane additives market size reached approximately USD 3.35 billion in 2023. The market is further projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 5.72 billion by 2032.

Key Trends in the Market

Polyurethane additives are used as coatings or added to resins to enhance their properties. The incorporation of the additives in polyurethane provides various advantages including mechanical strength, smoke suppression during combustion, mechanical strength, and ultraviolet resistance, among others. They also aid in improving the physical properties and performance of polyurethane by reducing oxidation and increasing resistance to heat.

• The rising utilisation of electronic devices owing to their ability to enhance convenience and increase accessibility is bolstering the polyurethane additives market growth. Polyurethanes are frequently deployed in electronic devices for sealing, encapsulating, and insulating, pressure sensitive and fragile microelectronic components, printed circuit boards, and underwater cables.

• The rising industrial development and increased investments by the key players of the market towards the development environment friendly polyurethane additives is aiding the market expansion.

• The expansion of the construction sector is providing lucrative growth opportunities to the market. Polyurethane is used as an adhesive and sealant for sealing joints, doors, windows, and fissures and cracks in floors and walls. The foams are used for minimising energy loss and reducing heat transfer for lowering cooling and heating costs.

Global Polyurethane Additives Market Analysis

On the basis of type, the market is divided into catalysts, fillers, surfactants, and flame retardants, among others. Based on applications, the market is classified into adhesives and sealants, coatings, foams, and elastomers, among others.

On the basis of end use, the market is segregated into automotive and transportation, building and construction, electronics, and bedding and furniture, among others. Based on region, the polyurethane additives market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Evonik Industries AG

• Covestro AG

• Air Products Inc. 

• Huntsman International LLC 

• BASF SE

• Eastman Chemical Company

• Clariant AG

• Schill+Seilacher "Struktol" GmbH 

• Liberty Chemicals

• Others

Market Share by End Use

Automotive and transportation is expected to account for a significant polyurethane additives market share. Polyurethane coatings provide scratch resistance, durability, and corrosion resistance and are therefore preferred used on the exterior the vehicles including windshields and windows to provide resistance against damage and increase strength. Polyurethane foams aid in reduction of road noise and absorption of vibration because of which they are used in door panels and dashboards.

Market Share by Region

The Asia Pacific is anticipated to account for a significant share of the market over the forecast period. This growth can be attributed to the increased polyurethane additives market demand from various end user industries including electronics, transportation, packaging, and construction, among others owing to increasing population. The expansion of the furniture manufacturing sector due to rapid urbanisation and increasing disposable incomes is further bolstering the demand for polyurethane additives.

Competitive Landscape

Evonik Industries AG, headquartered in Essen, Germany, is one of the leading speciality chemicals manufacturing companies that specialises in cosmetic solutions, animal nutrition, high performance polymers, and polyurethane additives, among others.

Covestro AG, headquartered in Leverkusen, Germany, is a chemical manufacturing company that provides high quality polyurethane additives and polymer materials. The company is known for using innovative methods and processes to enhance sustainability.

Air Products Inc., headquartered in Pennsylvania, United States, is dedicated towards providing essential industrial equipment and gases to customers across a dozen industries. The company specialises in polyurethane additives, gas equipment, hydrogen, and nitrogen, among others.

Other polyurethane additives market key players include Huntsman International LLC, BASF SE, Eastman Chemical Company, Clariant AG, Schill+Seilacher "Struktol" GmbH, and Liberty Chemicals, among others.

Key Highlights of the Report