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Report Overview

The global polyurethane market size reached a value of over USD 62.07 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.70%, to reach USD 98.25 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Compound Annual Growth Rate

Value in USD Billion

4.7%

2025-2034


Polyurethane Market Outlook

*this image is indicative*

Key Trends in the Market

Polyurethane, also known as polymeric material, is created from a multitude of starting elements and is categorised as a polymer rather than a specific substance. They are thermosetting polymers, which means that they do not melt in the presence of heat. Due to its easy accessibility, low cost, simplicity of use, and recyclability, it is employed in a variety of applications that improve the comfort and environmental friendliness of daily lives.

  • Polyurethane is widely employed in the building and construction industry for commercial, industrial, and residential applications due to its insulating qualities, versatility, durability, and strength-to-weight ratio. The polyurethane market demand is anticipated to increase throughout the forecast period due to rising building insulation demand brought on by environmental concerns. However, the rising demand for acid-epoxy coatings could limit market expansion.
  • A wide variety of consumer goods used in daily life include polyurethane materials. For instance, hard foam for casing in walls and roofing, TPU for medical equipment and footwear, and flexible foam for upholstered furniture are some of the examples of polyurethane-based products. Additionally, it is also used on floors and automotive interiors, in coatings, sealants, adhesives.
  • As a result of improved building material performance, there is a higher need for effective insulating materials to regulate air conditioning, ventilation, heating and reduce the amount of energy lost due to inadequate insulation. The introduction of extremely effective insulating materials like polyurethane foam leads to huge energy savings.

Global Polyurethane Market Segmentations

The EMR’s report titled “Global Polyurethane Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type:

  • Rigid Foam
  • Flexible Foam
  • Coatings, Adhesives, Sealants, and Elastomers (CASE)
  • Thermoplastic Polyurethane
  • Others

Market Breakup by End Use:

  • Furniture
  • Construction
  • Electronics
  • Automotive and Transportation
  • Packaging
  • Footwear
  • Others

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Share by End Use

The demand for polyurethane in the construction sector is anticipated to expand significantly throughout the forecast period due to the superior thermal insulation, light weight, chemical inertness, and bacterial and pest resistance of polyurethane foam. The growth of the construction industry is also being fuelled by the expanding government initiatives like smart cities along with rising infrastructure spending, thus aiding the polyurethane market growth. Furthermore, the need for polyurethane is predicted to increase as green buildings become more and more popular around the world, fuelling the expansion of the construction industry.

Over the projection period, the automotive sector is expected to expand at a considerable CAGR. There are several environmentally friendly uses for polyurethane in the automotive sector. Utilising polyurethane offers advantages, including safety, comfort, lightness, and design flexibility. Products made of polyurethane assist automakers and designers in creating the seating they desire for their vehicles. Seating made of polyurethane is simple to assemble, remove, and recycle. Polyurethane supports improved performance requirements and a wide range of stiffness without sacrificing quality or adding weight.

Market Share by Region

The Asia Pacific region is predicted to lead the polyurethane market due to increasing use of polyurethane in major end-use sectors such as construction, automotive, furniture and interior, electronics and appliance, and packaging. A vast pool of inexpensive, skilled labour and easy access to land are the key characteristics of the Asia Pacific region. Over the course of the forecast period, the further growth of the manufacturing sectors in emerging economies, such as China and India, is anticipated to positively impact market growth for polyurethane. 

Additionally, the Asia Pacific region is home to a number of quickly developing industries like construction, automotive, and electronics that present lucrative growth prospects for polyurethane manufacturers. The expansion of the regional market can also be linked to an increase in construction activity and the rapid urbanisation of emerging nations like, thereby aiding the polyurethane market in the Asia Pacific. 

Competitive Landscape

Dow Inc.

Dow Inc., with its headquarters in Michigan in the United States, is one of the top producers of chemicals, plastics, synthetic fibres, and agricultural products worldwide. The company provides a variety of goods and services for customers in the packaging, infrastructure, mobility, and consumer care areas.

Covestro AG

Covestro AG is the leading manufacturer of cutting-edge, high-performance polymers throughout the wo...

Huntsman Corporation

Huntsman Corporation, with its headquarters in Texas in the United States, produces unique organic c...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other market players include BASF SE, DIC Corporation, and RAMPF Holding GmbH & Co. KG, among others.

Polyurethane Market Report Snapshots

Polyurethane Market Size

Polyurethane Market Analysis

Polyurethane Market Share

Polyurethane Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the polyurethane market reached an approximate value of USD 62.07 Billion.

The market is projected to grow at a CAGR of 4.70% between 2025 and 2034.

The major drivers of the market include the growing use in building and construction industry along with the increasing use in major end use industries, and rising consumer awareness regarding the sustainability of lightweight and low-cost polyurethane.

Increasing construction activities, rapid urbanisation, rising number of initiatives by governments, and growing electronics industry are the key industry trends propelling the growth of the market.

The major players in the industry are Dow Inc., Covestro AG, Huntsman Corporation, BASF SE, DIC Corporation, and RAMPF Holding GmbH & Co. KG, among others.

Polyurethanes are created by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate In the presence of the proper catalysts and additives.

Some of the drawbacks of polyurethane are its low heat conductivity, poor weatherability, susceptibility to attack from most solvents, use of hazardous isocyanates, and flammability.

Polyurethane is one of the most adaptable plastic materials, and can be moulded into unique shapes, used to solve complex challenges, and improve industrial and consumer items.

The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 98.25 Billion by 2034.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • End Use
  • Region
Breakup by Product Type
  • Rigid Foam
  • Flexible Foam
  • Coatings, Adhesives, Sealants, and Elastomers (CASE)
  • Thermoplastic Polyurethane
  • Others
Breakup by End Use
  • Furniture
  • Construction
  • Electronics
  • Automotive and Transportation
  • Packaging
  • Footwear
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Dow Inc.
  • Covestro AG
  • Huntsman Corporation
  • BASF SE
  • DIC Corporation
  • RAMPF Holding GmbH & Co. KG
  • Others

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