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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Polyurethane Market Size
The global polyurethane market size reached a value of over USD 62.07 billion in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 4.70%.
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.
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 2023, the global market for polyurethane attained a value of over USD 62.07 billion.
The polyurethane market is projected to grow at a CAGR of 4.70% between 2024 and 2032.
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.
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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124