[153 Pages Report] The global polyurethane additives market size is estimated at USD 3.5 billion in 2020 and is projected to reach USD 4.5 billion by 2025, at a CAGR of 4.2%. The growing demand for polyurethane additives is due to the growing demands for innovative and cost-effective additives and the growing construction industry in the emerging countries.
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The polyurethane additives are used in various end-use industries such as automotive & transportation, building & construction, bedding & furniture, electronics, and others. COVID-19 has impacted these industries.
Flexible polyurethane foam is an important material finding usages in mattresses, furniture cushioning, bedding, carpet underlay, automotive interiors, etc. These being highly cellular polymers are easily ignitable. This characteristic limits their greater use in areas that require them to pass certain fire regulations as fire hazards are associated with the use of these polymeric materials, which can cause loss of life and property, are of particular concern among government regulatory bodies, consumers, and manufacturers alike. This further drives the demand for innovating new additives such as flame retardants to reduce the flammability of polyurethanes. A large range of flame retardants such as inorganic phosphorus, organophosphorus, nitrogen, halogen, and phosphorus-halogen based compounds are used to meet the demand for the required additives.
Raw materials used for manufacturing polyurethane are primarily extracted from crude oil. According to the US EIA (Energy Information Administration), in 2020, Brent crude oil spot prices averaged USD 40 per barrel in June, up to USD 11 per barrel from May and up to USD 22 per barrel from the multiyear lows from April. Prices rose as OPEC+ producers agreed to extend the deepest production cuts through July, and many locations, previously on lockdown, demanded more liquid fuels. Given supply reductions and rising demand, the EIA estimated that global oil inventories declined in June 2020 for the first time since December 2019. The global oil inventory averaged 8.4 million barrels per day, which caused crude oil prices to drop sharply. Owing to such fluctuating crude oil prices, raw material prices of polyurethane additives are volatile.
A few polyurethane additives are hazardous, and their application is limited owing to negative effects on polymer mechanical properties. Accordingly, identifying materials that are environmentally friendly and harmless to humans has become urgent. There are a few alternative polyurethane additives that are gaining research interest. Those are natural and recyclable resources that can enhance the flame retardant properties of other polymers. Room for improvement is always present as the related technology is continually developed. Hence, the growing demand for environment friendly polyurethane additives is creating a growth opportunity for the market.
Various measures have been adopted across different countries to create a sustainable environment. There are various regulations that put pressure on chemical manufacturers to produce environmentally friendly products. The EPA (Environmental Protection Agency) has banned a few chemicals that are hazardous to the environment. Extensive research is conducted to develop environment-friendly products. Moreover, the regulations are stricter in various countries of Europe and in California (US). Hence, it is building pressure on chemical manufacturers to produce environment-friendly alternatives that provide the same quality and performance as of the chemicals that are not environment friendly
Flame retardants of concern include organohalogen and organophosphate chemicals such as polybrominated diphenyl ethers (PBDEs) and chlorinated tris (TDCPP). There are various types of flame retardants such as brominated flame retardants, chlorinated flame retardants, phosphorous-based flame retardants, and some inorganic flame retardants. These are used to produce high quality polyurethanes that are used in various applications such as electronic, automobile, and building & construction.
Polyurethane foams are manufactured by reacting polyols and isocyanates in the presence of a blowing agent and an amine catalyst. The blowing agent is carbon dioxide, which is formed as a by-product of the reaction between water and isocyanate. The amine catalyst is known to accelerate the reaction. Polyurethane foams are of two types, namely rigid polyurethane foam and flexible polyurethane foam. Foams offer various properties such as comfort and insulating properties when used in various industries such as automotive and building & construction, which is driving the market.
Polyurethanes are used in various parts of an automobile. In addition to the foam that makes car seats comfortable, bumpers, interior “headline” ceiling sections, the car body, spoilers, doors and windows all use polyurethanes. Polyurethane enables manufacturers to provide drivers and passengers significantly more automobile mileage by reducing weight and increasing fuel economy, comfort, corrosion resistance, insulation, and sound absorption.
The polyurethane additives market in APAC is projected to register the highest CAGR during the forecast period. The foams market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth.
The recent COVID-19 pandemic is expected to impact the global automotive industry. The entire supply chain is disrupted due to limited supply of parts. For instance, Hubei province in China, which accounts for 8–10% of the Chinese auto production, is severely impacted by pandemic. Chinese suppliers around the globe have placed production lines on halt or shut them down completely. The legal and trade restrictions, such as sealed borders, increase the shortage of required parts. Such disruptions in supply chain is expected to affect the assembly of OEMs in Europe and North America.
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Years considered for the study
Value (USD Billion) and Volume (Kiloton)
Type, Application, End-use Industry, and Region
APAC, Europe, North America, South America, and Middle East & Africa.
Total of 10 major players covered:
This research report categorizes the polyurethane additives market based on type, application, and region.
The key players profiled in this report include Evonik Industries (Germany), BASF (Germany), Huntsman Corporation (US), Covestro (Germany), Dow Inc. (US), Lanxess AG (Germany), Albemarle Corporation (US), Tosoh Corporation (Japan), Momentive (US), and BYK (US). These companies have adopted various organic as well as inorganic growth strategies between 2015 and 2020 to enhance their regional presence and meet the growing demand for polyurethane additives from emerging economies.
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TABLE OF CONTENTS
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 SCOPE OF THE STUDY
1.3.1 YEARS CONSIDERED FOR THE STUDY
1.5 PACKAGE SIZE
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
188.8.131.52 Key data from secondary sources
2.1.2 PRIMARY DATA
184.108.40.206 Key data from primary sources
220.127.116.11 Key industry insights
18.104.22.168 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS & LIMITATIONS
2.4.1 RESEARCH ASSUMPTIONS
2.4.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 MARKET DYNAMIC
6 INDUSTRY TRENDS
6.2 PORTER’S FIVE FORCES ANALYSIS OF THE PU ADDITIVES MARKET
6.2.1 THREAT OF NEW ENTRANTS
6.2.2 THREAT OF SUBSTITUTES
6.2.3 BARGAINING POWER OF SUPPLIERS
6.2.4 BARGAINING POWER OF BUYERS
6.2.5 INTENSITY OF COMPETITIVE RIVALRY
6.3 MACROECONOMIC TRENDS/OPERATIONAL DATA ANALYSIS
6.4 VALUE CHAIN FRAMEWORK
6.5 IMPORT EXPORT ANALYSIS
6.6 AVERAGE SELLING PRICE TREND
6.7 PATENT ANALYSIS
6.8 IMPACT OF COVID-19 ON PU ADDITIVES MARKET
7 PU ADDITIVES MARKET, BY TYPE
7.2.1 TERTIARY AMINES
7.2.2 ETHYLENE AMINES
7.2.3 METAL BASED CATALYST
7.3.1 SILICONE SURFACTANTS
7.3.2 NON-SILICONE SURFACTANTS
7.4 FLAME RETARDANTS
7.8.1 CROSS LINKERS
7.8.1 ABRASION REDUCERS
8 PU ADDITIVES MARKET, BY APPLICATION
8.2.1 RIGID FOAMS
8.2.2 FLEXIBLE FOAMS
8.3 ADHESIVES & SEALANTS
8.3.1 THERMOPLASTIC ADHESIVE
8.3.2 THERMOSET ADHESIVE
8.6 OTHERS (TPU, REACTION INJECTION MOLDING, FIBRES)
9 PU ADDITIVES MARKET, BY END-USE INDUSTRY
9.2 AUTOMOTIVE & TRANSPORTATION
9.3 BUILDING & CONSTRUCTION
9.4 BEDDING & FURNITURE
9.6 OTHERS (PACKAGING, APPAREL, MEDICAL, MARINE)
10 PU ADDITIVES MARKET, BY REGION (MARKET SIZE, FORECAST, MARKET SHARE BY TYPE AND ENDUSE INDUSTRY)
10.2.4 SOUTH KOREA
10.3 NORTH AMERICA
10.5 MIDDLE-EAST & AFRICA
10.5.1 SAUDI ARABIA
10.6 SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.2 COMPETITIVE LANDSCAPE MAPPING (DIVE)
11.3 COMPETITIVE BENCHMARKING
11.4 MARKET RANKING OF KEY PLAYERS
11.5 COMPETITIVE SITUATION AND TRENDS
12 COMPANY PROFILES
(Overview, Financial*, Products & Services, Strategy, and Developments)
12.1 COVESTRO AG
12.2 BASF SE
12.3 HUNTSMAN INTERNATIONAL LLC
12.4 ALBEMARLE CORPORATION
12.5 EASTMAN CHEMICAL COMPANY
12.6 TOSOH CORPORATION
12.7 KAO CORPORATION
12.8 EVONIK INDUSTRIES
(This is a tentative list. Total list of 25 players will be provided and top 10 will be profiled in the report)
*Details might not be captured in case of unlisted companies.
The study involves four major activities in estimating the current market size of polyurethane additives. Exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of the segments and subsegments.
In the secondary research process, various secondary sources, such as Hoovers and Bloomberg BusinessWeek, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; regulatory bodies; and databases.
The polyurethane additives market comprises several stakeholders, such as raw material suppliers, distributors of polyurethane additives, industry associations, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market consists of manufacturers of polyurethane foams, adhesives & sealants, coatings, and elastomers, whereas the supply side consists of polyurethane additive manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary interviews—
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Both the top-down and bottom-up approaches were used to estimate and validate the total size of the polyurethane additives market. These methods were also used extensively to estimate the size of various subsegments of the market. The research methodology used to estimate the market size includes the following:
After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. Data was triangulated by studying various factors and trends from both the demand and supply sides.
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