HOME Top Market Reports Polyurethane Market by Raw Material (MDI, TDI, Polyols), Product (Coatings, Adhesives & Sealants, Flexible & Rigid Foams, Elastomers), End User (Building & Construction, Automotive & Transportation, Bedding & Furniture) - Global Forecast to 2021

Polyurethane Market by Raw Material (MDI, TDI, Polyols), Product (Coatings, Adhesives & Sealants, Flexible & Rigid Foams, Elastomers), End User (Building & Construction, Automotive & Transportation, Bedding & Furniture) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: CH 4737

 

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The global polyurethane market is projected to reach USD 56.76 Billion by 2021, at a CAGR of 5.6% from 2016 to 2021. The years considered for the study include:

Base Year: 2015
Forecast Period: 2016–2021

Objectives of the study:To define, describe, and forecast the polyurethane market on the basis of raw material type, product type, end-user, and region

  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

Both, top-down and bottom-up approaches have been used to estimate and validate the size of the market, and estimate the sizes of various other dependent submarkets in the overall polyurethane market. The research study involved the extensive use of secondary sources, directories, and databases such as, Hoovers, Bloomberg, Chemical Weekly, Factiva, ICIS, Securities and Exchange Commission (SEC), among other government and private websites, to identify and collect information useful for the technical, market-oriented, and commercial study of the global polyurethane market.

Polyurethane Market

To know about the assumptions considered for the study, download the pdf brochure

Polyurethane is manufactured from various raw materials such as, Methylene Diphenyl Diisocyanate(MDI), Toulene Diisocyanate(TDI), polyol stabilizers, and additives. Covestro AG (Germany), Wanhua Chemical Group Co. Ltd. (China), BASF SE (Germany), Cangzhou Dahua Group Co.,Ltd. (China), Huntsman Corporation (U.S.), Mitsui Chemicals & SKC Polyurethanes, Inc. (Korea), Royal Dutch Shell plc (The Netherlands), and The Dow Chemical Company (U.S.) are the major raw material providers. These raw materials are supplied to the major manufacturers of polyurethane such as, Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Wanhua Chemical Group Co. Ltd. (China), Huntsman Corporation (U.S .), Mitsui Chemical Inc. (Japan), Chemtura Corporation (U.S.), Tosoh Corporation (Japan), and Manali Petrochemicals Limited (India).

Key Target Audience:

  • Manufacturers of Polyurethane
  • Traders, Distributors, and Suppliers of Polyurethane
  • Government and Regional Agencies and Research Organizations
  • Investment Research Firms

Scope of the Report:

This research report categorizes the global polyurethane market on the basis of raw material type, product type, end-user, and region

On the basis of Raw Material:

  • Methylene Diphenyl Diisocyanate(MDI)
  • Toulene Diisocyanate(TDI)
  • Polyols
  • Others

On the basis of Product:

  • Flexible foams
  • Rigid Foams
  • Coatings
  • Adhesives & Sealants
  • Elastomers
  • Others

On the basis of End-User:

  • Building & Construction
  • Automotive & Transportation
  • Bedding & Furniture
  • Footwear
  • Appliances & White Goods
  • Others

On the basis of Region:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • South America

The market is further analyzed on the basis of key countries in each of these regions.

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the specific needs of the company. The following customization options are available for the report:

Regional Analysis:

  • Country-level analysis of the global polyurethane market, by raw material type and product type.

Company Information:

  • Detailed analysis and profiles of additional market players.

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 21)
           2.1.1 Secondary Data
                     2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                     2.1.2.1 Key Data From Primary Sources
                     2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions and Limitations
           2.4.1 Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Opportunities for Market Players
    4.2 Polyurethane Market, By End Use
    4.3 Polyurethane Market: Developed vs Developing Countries Between 2016 and 2021
    4.4 Asia-Pacific Polyurethane Market: Major Product Type vs Major Countries
    4.5 China Dominated the Polyurethane Market

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Raw Material Type
           5.2.2 By Product Type
           5.2.3 By End User
           5.2.4 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                     5.3.1.1 Growth of Automotive and Construction Industries in Emerging Countries
                     5.3.1.2 Memory Foam Revived the Bedding Segments
                     5.3.1.3 Versatility and Unique Physical Properties of Polyurethane
                     5.3.1.4 Increasing Use of Polyurethane in Refrigeration Applications
           5.3.2 Restraints
                     5.3.2.1 Exposure Risks and Environmental Concerns
                     5.3.2.2 Increasing Demand for Acid-Epoxy Coatings
           5.3.3 Opportunities
                     5.3.3.1 Growing Demand for Low Voc, Green, and Sustainable Polyurethane
                     5.3.3.2 Expansion of Polyurethane Recycling and Recovery
                     5.3.3.3 Growing Healthcare Industry
           5.3.4 Challenges
                     5.3.4.1 New Bio-Based Feedstock for Polyurethane
                     5.3.4.2 Volatility in Crude Oil Prices

6 Industry Trends (Page No. - 53)
    6.1 Introduction
    6.2 Value-Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Intensity of Competitive Rivalry
           6.3.2 Bargaining Power of Buyers
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Threat of Substitutes
           6.3.5 Threat of New Entrants
    6.4 Macro Economic Overview and Key Trends
    6.5 Trends and Forecast of GDP
    6.6 Trends and Forecast of Construction Industry
           6.6.1 Trends and Forecast of Construction Industry in North America
           6.6.2 Trends and Forecast of Construction Industry in Europe
           6.6.3 Trends and Forecast of Construction Industry in the  Asia-Pacific
           6.6.4 Trends and Forecast of Construction Industry in ME&A
           6.6.5 Trends and Forecast of Construction Industry in South America
    6.7 Trends of Automotive Industry

7 Polyurethane Market, By Raw Material Type (Page No. - 62)
    7.1 Introduction
    7.2 Toluene Diisocyanate
    7.3 Methylene Diphenyl Diisocyanate
    7.4 Polyols
    7.5 Others

8 Polyurethane Market, By Product Type (Page No. - 70)
    8.1 Introduction
    8.2 Coatings
    8.3 Adhesives & Sealants
    8.4 Flexible Foam
    8.5 Rigid Foam
    8.6 Elastomers
    8.7 Others

9 Polyurethane Market, By End User (Page No. - 82)
    9.1 Introduction
    9.2 Bedding & Furniture
    9.3 Building & Construction
    9.4 Appliances & White Goods
    9.5 Automotive & Transportation
    9.6 Footwear
    9.7 Others

10 Polyurethane Market, By Region (Page No. - 90)
     10.1 Introduction
     10.2 Asia-Pacific
               10.2.1 Polyurethane Market, By Raw Material Type
               10.2.2 Polyurethane Market, By Product Type
               10.2.3 Polyurethane Market, By Country
                           10.2.3.1 China
                           10.2.3.2 Japan
                           10.2.3.3 India
                           10.2.3.4 South Korea
                           10.2.3.5 Taiwan
                           10.2.3.6 Singapore
                           10.2.3.7 Thailand
                           10.2.3.8 Vietnam
                           10.2.3.9 Rest of Asia-Pacific
     10.3 North America
               10.3.1 Polyurethane Market, By Raw Material
               10.3.2 Polyurethane Market, By Product Type
               10.3.3 Polyurethane Market, By Country
                           10.3.3.1 U.S.
                           10.3.3.2 Mexico
                           10.3.3.3 Canada
     10.4 Europe
               10.4.1 Raw Material Type Market
               10.4.2 Product Type Market
               10.4.3 Polyurethane Market, By Country
                           10.4.3.1 Germany
                           10.4.3.2 France
                           10.4.3.3 U.K.
                           10.4.3.4 Italy
                           10.4.3.5 Russia
                           10.4.3.6 Turkey
                           10.4.3.7 Rest of Europe
     10.5 Middle East & Africa
               10.5.1 Polyurethane Market Size, By Raw Material Type
               10.5.2 Polyurethane Market Size, By Product Type
               10.5.3 Polyurethane Market, By Country
                           10.5.3.1 UAE
                           10.5.3.2 Saudi Arabia
                           10.5.3.3 Africa
                           10.5.3.4 Rest of Middle East & Africa
     10.6 South America
               10.6.1 Polyurethane Market Size, By Raw Material Type
               10.6.2 Polyurethane Market Size, By Product Type
               10.6.3 Polyurethane Market, By Country
                           10.6.3.1 Brazil
                           10.6.3.2 Argentina
                           10.6.3.3 Rest of South America

11 Competitive Landscape (Page No. - 135)
     11.1 Overview
     11.2 Investment & Expansion
     11.3 New Product Launch
     11.4 Merger & Acquisition
     11.5 Partnership/Joint Venture
     11.6 Market Share Analysis
               11.6.1 Covestro AG Leads the Polyurethane Market Globally

12 Company Profiles (Page No. - 143)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Covestro AG
     12.2 BASF SE
     12.3 Huntsman Corporation
     12.4 DOW  Chemical Company
     12.5 Wanhua Chemical Group Co., Ltd.
     12.6 Mitsui Chemicals Inc.
     12.7 Chemtura Corporation
     12.8 Tosoh Corporation
     12.9 Manali Petrochemicals Ltd.
     12.10 Woodbridge Foam Corporation

*Details Might Not Be Captured in Case of Unlisted Companies

13 Appendix (Page No. - 175)
     13.1 Discussion Guide
     13.1 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.2 Introducing RT: Real-Time Market Intelligence
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (114 Tables)

Table 1 Polyurethane Market Snapshot (2016 vs 2021)
Table 2 Polyurethane Market, By Raw Material Type
Table 3 Polyurethane Market, By Product Type
Table 4 Polyurethane Market, By End User
Table 5 Trends and Forecast of GDP, USD Billion (2015–2021)
Table 6 Contribution of Construction Industry to GDP in North America, USD Billion (2014–2021)
Table 7 Contribution of Construction Industry to GDP in Europe, USD Billion (2014–2021)
Table 8 Contribution of Construction Industry to GDP in the Asia-Pacific, USD Billion (2014–2021)
Table 9 Contribution of Construction Industry to GDP in ME&A, USD Billion (2014–2021)
Table 10 Contribution of Construction Industry to GDP in South America, USD Billion (2014–2021)
Table 11 Automotive Production, Million Units (2011-2015)
Table 12 Polyurethane Market Size, By Raw Material Type, 2014–2021(USD Billion)
Table 13 Polyurethane Market Size, By Raw Material Type, 2014–2021(Kiloton)
Table 14 TDI Market Size, By Region, 2014–2021 (USD Billion)
Table 15 TDI Market Size, By Region, 2014–2021 (Kiloton)
Table 16 MDI Market Size, By Region, 2014–2021 (USD Billion)
Table 17 MDI Market Size, By Region, 2014–2021 (Kiloton)
Table 18 Poloyols Market Size, By Region, 2014–2021 (USD Billion)
Table 19 Polyols Market Size, By Region, 2014–2021 (Kiloton)
Table 20 Others Market Size, By Region, 2014–2021 (USD Million)
Table 21 Others Market Size, By Region, 2014–2021 (Kiloton)
Table 22 Polyurethane Market Size, By Product Type, 2014–2021 (USD Billion)
Table 23 Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 24 Polyurethane Market Size in Coatings, By Region, 2014–2021 (USD Billion)
Table 25 Polyurethane Market Size in Coatings, By Region, 2014–2021 (Kiloton)
Table 26 Polyurethane Market Size in Adhesives & Sealants, By Region, 2014–2021 (USD Million)
Table 27 Polyurethane Market Size in Adhesives & Sealants, By Region, 2014–2021 (Kiloton)
Table 28 Polyurethane Market Size in Flexible Foam, By Region, 2014–2021 (USD Billion)
Table 29 Polyurethane Market Size in Flexible Foam, By Region, 2014–2021 (Kiloton)
Table 30 Polyurethane Market Size in Rigid Foam, By Region, 2014–2021 (USD Billion)
Table 31 Polyurethane Market Size in Rigid Foam, By Region, 2014–2021 (Kiloton)
Table 32 Polyurethane Market Size in Elastomers, By Region, 2014–2021 (USD Million)
Table 33 Polyurethane Market Size in Elastomers, By Region, 2014–2021 (Kiloton)
Table 34 Polyurethane Market Size in Other Product Types, By Region, 2014–2021 (USD Million)
Table 35 Polyurethane Market Size in Other Product Types, By Region, 2014–2021 (Kiloton)
Table 36 Polyurethane Market Size, By End User, 2014–2021 (USD Billion)
Table 37 Polyurethane Market Size, By End User, 2014-2026 (Kiloton)
Table 38 Polyurethane Market Size, By Region, 2014–2021 (USD Billion)
Table 39 Polyurethane Market Size, By Region, 2014–2021 (Kiloton)
Table 40 Asia-Pacific: Polyurethane Market Size, By Country, 2014–2021 (USD Million)
Table 41 Asia-Pacific: Polyurethane Market Size, By Country,2014–2021 (Kiloton)
Table 42 Asia-Pacific: Polyurethane Market Size, By Raw Material, 2014–2021 (USD Billion)
Table 43 Asia-Pacific: Polyurethane Market Size, By Raw Material, 2014–2021 (Kiloton)
Table 44 Asia-Pacific: Polyurethane Market Size, By Product Type, 2014–2021 (USD Billion)
Table 45 Asia-Pacific: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 46 China: Polyurethane Market Size, By Product Type, 2014–2021 (USD Billion)
Table 47 China: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 48 Japan: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 49 Japan: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 50 India: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 51 India: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 52 South Korea: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 53 South Korea: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 54 Taiwan: Polyurethane Market Size, By Product Type, 2014–2021
Table 55 Singapore: Polyurethane Market Size, By Product Type, 2014–2021
Table 56 Thailand: Polyurethane Market Size, By Product Type, 2014–2021
Table 57 Vietnam: Polyurethane Market Size, 2014–2021
Table 58 Rest of Asia-Pacific: Polyurethane Market Size, By Product Type, 2014–2021
Table 59 North America: Polyurethane Market Size, By Country, 2014–2021 (USD Million)
Table 60 North America: Polyurethane Market Size, By Country, 2014–2021 (Kiloton)
Table 61 North America: Polyurethane Market Size, By Raw Material, 2014–2021 (USD Billion)
Table 62 North America: Polyurethane Market Size, By Raw Material, 2014–2021 (Kiloton)
Table 63 North America: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 64 North America: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 65 U.S.: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 66 U.S.: Polyurethane Market Size, By Product Type,2014–2021 (Kiloton)
Table 67 Mexico: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 68 Mexico: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 69 Canada: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 70 Canada: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 71 Europe: Polyurethane Market Size, By Country, 2014–2021 (USD Billion)
Table 72 Europe: Polyurethane Market Size, By Country, 2014–2021 (Kiloton)
Table 73 Europe: Polyurethane Market Size, By Raw Material, 2014–2021 (USD Billion)
Table 74 Europe: Polyurethane Market Size, By Raw Material, 2014–2021 (Kiloton)
Table 75 Europe: Polyurethane Market Size, By Product Type, 2014–2021 (USD Billion)
Table 76 Europe: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 77 Germany: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 78 Germany: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 79 France: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 80 France: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 81 U.K.: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 82 U.K.: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 83 Italy: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 84 Italy: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 85 Russia: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 86 Russia: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 87 Turkey: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 88 Turkey: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 89 Rest of Europe: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 90 Rest of Europe: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 91 Middle East & Africa: Polyurethane Market Size, By Country, 2014–2021 (USD Million)
Table 92 Middle East & Africa: Polyurethane Market Size, By Country, 2014–2021 (Kiloton)
Table 93 Middle East & Africa: Polyurethane Market Size, By Raw Material, 2014–2021 (USD Million)
Table 94 Middle East & Africa: Polyurethane Market Size, By Raw Material, 2014–2021 (Kiloton)
Table 95 Middle East & Africa: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 96 Middle East & Africa: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 97 UAE: Polyurethane Market Size, 2014–2021
Table 98 Saudi Arabia: Polyurethane Market Size, 2014–2021
Table 99 Africa: Polyurethane Market Size, 2014–2021
Table 100 Rest of Middle East & Africa: Polyurethane Market Size, 2014–2021
Table 101 South America: Polyurethane Market Size, By Country, 2014–2021 (USD Million)
Table 102 South America: Polyurethane Market Size, By Country, 2014–2021 (Kiloton)
Table 103 South America: Polyurethane Market Size, By Raw Material, 2014–2021 (USD Million)
Table 104 South America: Polyurethane Market Size, By Raw Material, 2014–2021 (Kiloton)
Table 105 South America: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 106 South America: Polyurethane Market Size, By Product Type, 2014–2021 (Kiloton)
Table 107 Brazil: Polyurethane Market Size, By Product Type, 2014–2021 (USD Million)
Table 108 Brazil: Polyurethane Market Size, By Product Type,2014–2021 (Kiloton)
Table 109 Argentina: Polyurethane Market Size, 2014–2021
Table 110 Rest of South America: Polyurethane Market Size, 2014–2021
Table 111 Investments & Expansions, 2012–2016
Table 112 New Product Launches, 2012–2016
Table 113 Mergers & Acquisitions, 2012–2016
Table 114 Partnerships/Joint Ventures, 2012–2016
 
 
List of Figures (52 Figures)
 
Figure 1 Polyurethane Market Segmentation
Figure 2 Polyurethane Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Polyurethane Market: Data Triangulation
Figure 7 Asia-Pacific to Dominate Polyurethane Market Between 2016 and 2021
Figure 8 Polyols Raw Material Segment to Account for Maximum Share in Polyurethane Market Between 2016 and 2021
Figure 9 Flexible Foam to Lead Product Type Segment Between 2016 and 2021
Figure 10 Bedding & Furniture to Dominate End-Use Segment Between 2016 and 2021
Figure 11 Asia-Pacific to Be the Fastest-Growing Polyurethane Market Between 2016 and 2021
Figure 12 Emerging Economies Will Offer Lucrative Growth Potential to Market Players Between 2016-2021
Figure 13 Automotive and Transportation to Register the Fastest CAGR in Polyurethane Market Between 2016 and 2021
Figure 14 Developing Countries to Grow Faster Than Developed Countries
Figure 15 Elastomers Segment Accounted for the Largest Share of Polyurethane Market in Asia-Pacific in 2015
Figure 16 Asia-Pacific to Show High Growth Rate During Forecast Period
Figure 17 China Accounted for the Largest Share in Polyurethane Market in 2015
Figure 18 Polyurethane Market, By Region
Figure 19 Drivers, Restraints, Opportunities, and Challenges
Figure 20 Global Automotive Production
Figure 21 Construction Industry: Emerging Country vs Developed Country
Figure 22 Impact Analysis: Drivers
Figure 23 Impact Analysis: Restraints
Figure 24 Impact Analysis: Opportunities
Figure 25 Fluctuations in Prices of Crude Oil Between 2012 and 2016
Figure 26 Impact Analysis: Challenges
Figure 27 Polyurethane Market: Value Chain Analysis
Figure 28 Polyurethane Market: Porter’s Five Forces Analysis
Figure 29 Polyols Raw Material Type to Dominate the Polyurethane Market During Forecast Period
Figure 30 Asia-Pacific Estimated to Lead  the Polyurethane Market in 2016
Figure 31 High Growth in Rigid Foam Product Type to Drive the Polyurethane Market
Figure 32 Rigid Foam is the Fastest-Growing Market Between 2016 and 2021
Figure 33 Bedding & Furniture to Lead End User Segment of  Polyurethane Market Between 2016-2021
Figure 34 Automotive & Transportation is the Fastest-Growing Market Between 2016-2021
Figure 35 Durability of Different Shoe Sole Material
Figure 36 Regional Snapshot: India and China are Emerging as New Strategic Locations in Polyurethane Market
Figure 37 Asia-Pacific to Register the Highest Growth  in Polyurethane Market Raw Material Type Between 2016-2021
Figure 38 Asia-Pacific Market Snapshot: Rising Population and Increase in Purchasing Power to Drive the Market
Figure 39 North American Market Snapshot
Figure 40 Companies Adopted Investments & Expansions as the Key Growth Strategy Between 2012 and 2016
Figure 41 Market Evaluation Framework: Significant Number of Investments & Expansions Fueled Growth and Innovation, 2012–2016
Figure 42 Investments & Expansions Was the Key Strategy Between 2012 and 2016
Figure 43 Market Share for Top Five Players
Figure 44 Covestro AG: Company Snapshot
Figure 45 BASF SE: Company Snapshot
Figure 46 Huntsman: Company Snapshot
Figure 47 DOW  Chemical Company: Company Snapshot
Figure 48 Wanhua Chemical Group: Company Snapshot
Figure 49 Mitsui Chemicals, Inc.: Company Snapshot
Figure 50 Chemtura: Company Snapshot
Figure 51 Tosoh Corporation: Company Snapshot
Figure 52 Manali Petrochemicals Ltd.: Company Snapshot

The global polyurethane market is projected to reach USD 56.76 Billion by 2021, at a CAGR of 5.6% from 2016 to 2021. The growing urbanization and improvements in living standards of populations, and increase in the usage of polyurethane in the construction industry, its strong adherence ability, its exceptional mechanical & insulating properties, and chemical & heat resistance are driving the market for polyurethane. The use of PU in the footwear industry in the last few years has made it a worthy replacement to materials such as, Polyvinyl Chloride (PVC) and Ethylene Vinyl Acetate (EVA) because of the ease of processing and designing.

Bedding & furniture is the largest end-use application of polyurethane worldwide. Increasing developments of modern homes and offices are driving the market. The versatility of polyurethane allows designers full scope of their imagination when creating new products. Flexible polyurethane foams are soft, provide good support, are durable, and maintain their shape. Polyurethane foams can adapt to and support the body’s contours. The new memory foam is a popular form of polyurethane, which adapts to the shape of a person’s body, ensuring restful sleep. It is widely used in hospitals, where it helps to prevent pressure sores on people who are bed-bound over long periods of time.

On the basis of raw material type, the polyurethane market has been segmented into MDI, TDI, polyols, and others. Polyols is projected to be the fastest growing segment in the polyurethane raw material market, from 2016 to 2021.

Polyurethane Market

North America, Europe, Asia-Pacific, South America, and Middle East & Africa are considered the main regions for the polyurethane market. The Asia-Pacific region leads the polyurethane market, in terms of value & volume, owing to the increased population and rising demand for residential buildings, along with the improved lifestyles. The growth in the auto industry also looks promising, with several new OEM’s setting shop in the country. India is also becoming active in exports mainly of small cars.  The rising demand for high-quality polyurethane products with superior prolonged chemical and heat resistance properties and good insulating characteristics has triggered the demand for polyurethane. Elastomer products are contributing to the growing demand for polyurethane in the Asia-Pacific region.

Environmental regulations are the major restraint in the polyurethane market. The energy saving initiatives and sensitivity towards energy efficiency resonates globally. These act as restraints for the growing polyurethane market. The key areas such as, innovative footwear technologies, tailor-made solutions for automotive, retail, and cold chain solutions for the emerging logistics sector, and construction solutions for infrastructure development are expected to lead to the high growth of the polyurethane market in the future.

The global polyurethane market is led by the leading players such as, Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Wanhua Chemical Group Co. Ltd. (China), Huntsman Corporation (U.S.). The diverse product portfolios, strategically positioned R&D centers, adoption of development strategies, and technological advancements, strengthen the market positions of these companies in the polyurethane market. These companies are adopting various organic and inorganic growth strategies, such as expansions, mergers & acquisitions, and new product launches to enhance their current market shares.

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