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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.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
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 is the leading manufacturer of cutting-edge, high-performance polymers throughout the world, with its headquarters in Germany. Products in a wide range of markets are improved by its inventive discoveries in polyurethanes, polycarbonates, coatings, adhesives, speciality raw materials, and thermoplastic polyurethane elastomers.
Huntsman Corporation, with its headquarters in Texas in the United States, produces unique organic chemical products. The company, which was founded in 1970, has sectors for polyurethanes, advanced materials, textile effects, and performance goods. The polyurethanes product segment includes thermoplastic polyurethane, methylene diphenyl diisocyanate, polyols, and other products associated with polyurethane.
Other market players include BASF SE, DIC Corporation, and RAMPF Holding GmbH & Co. KG, among others.
Polyurethane Market Report Snapshots
*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.
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