Global Polyurethane Additives Market Size, Share, Analysis - Segmented by Product Type, Application, End-User, and Geography - Growth, Trends, and Forecast (2022 - 2030)
The polyurethane additives market is estimated to grow at a moderate to high rate during the forecast period, 2018-2023. Asia-Pacific is expected to witness highest growth in the demand for polyurethane during the forecast period, owing to the rising demand from automotive and construction industry.
Rising PU Demand in Construction Industry is likely to propel Additives Consumption
In building and construction, polyurethanes are used to make high-performance products that are strong but lightweight, perform well and are durable and versatile. Polyurethane products also can help enhance the aesthetic design of homes and buildings. The building & construction industry is expected to show significant growth for construction over the next decade propelled from emerging markets in India, China, Asia Pacific, South America, Middle East & Africa, and parts of East Europe. A key change is anticipated to be witnessed that, China overtake the US as the largest construction market much sooner than its overall economy is expected to surpass the US. Infrastructure and is likely to help drive emerging markets’ growth as countries upgrade their transport systems, utilities and buildings. All the above is likely to boost the polyurethane demand in the market which, in turn, is expected to propel the additives consumption in the polyurethane industry.
Polyurethane Foam is likely to drive the Polyurethane Additives Market
The mattress and furnishing industries accounted for more than two thirds of the flexible PU Foam market in fiscal year 2016 and more than 45% of the entire flexible PU Foam market. Going forward, it is estimated that the improving penetration of mattresses (foam, coir and spring) will drive demand for flexible PU Foam. Molded PU Foam is predominantly consumed by the automobile industry, commanding nearly 85% of the molded PU Foam market, and more than 30% of the entire flexible PU Foam market. Increasing automobile production is expected to drive demand for molded PU Foam, which, in turn, is anticipated to drive the additives demand in polyurethane industry.
Asia-Pacific to Witness Strong Growth in Polyurethane Additives Market
The global focus of PU is currently on Asia-Pacific as well as the Middle East countries. China, India, Thailand, and Vietnam are some of the key markets for PU due to their large population base and low per capita consumption of PU compared to developed countries, such as Germany or the United States. China is the largest consumer of PU as it is the largest producer of footwear and automobiles globally. Approximately 65% of the world’s footwear is manufactured in China and approximately 15% is produced in India, Vietnam, and Indonesia, combined. As a result, Asia-Pacific (including China) accounted for almost 45% of the global PU consumption by volume. India and China alone manufacture approximately 50% of the world’s cars and, in turn, consume approximately 50% of the PU used for automobiles globally. The growing property market has also spurred the growth of the furniture, mattress, and insulation industries, all of which rely heavily on PU as a key raw material.
Polyurethane Additives Market Major Players
Aramco Performance Materials LLC
Braskem
Cortec Corporation
DRD Additives
Emery Oleochemicals
Functional Products
GEO Specialty Chemicals Inc.
Hankuck Latices
ICL Industrial
INEOS Chlor
Kolon Industries
Lanxess
Reasons to Purchase Polyurethane Additives Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which end-user type is expected to dominate the polyurethane additives market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel
Customize Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
Rising PU Demand in Construction Industry is likely to propel Additives Consumption
In building and construction, polyurethanes are used to make high-performance products that are strong but lightweight, perform well and are durable and versatile. Polyurethane products also can help enhance the aesthetic design of homes and buildings. The building & construction industry is expected to show significant growth for construction over the next decade propelled from emerging markets in India, China, Asia Pacific, South America, Middle East & Africa, and parts of East Europe. A key change is anticipated to be witnessed that, China overtake the US as the largest construction market much sooner than its overall economy is expected to surpass the US. Infrastructure and is likely to help drive emerging markets’ growth as countries upgrade their transport systems, utilities and buildings. All the above is likely to boost the polyurethane demand in the market which, in turn, is expected to propel the additives consumption in the polyurethane industry.
Polyurethane Foam is likely to drive the Polyurethane Additives Market
The mattress and furnishing industries accounted for more than two thirds of the flexible PU Foam market in fiscal year 2016 and more than 45% of the entire flexible PU Foam market. Going forward, it is estimated that the improving penetration of mattresses (foam, coir and spring) will drive demand for flexible PU Foam. Molded PU Foam is predominantly consumed by the automobile industry, commanding nearly 85% of the molded PU Foam market, and more than 30% of the entire flexible PU Foam market. Increasing automobile production is expected to drive demand for molded PU Foam, which, in turn, is anticipated to drive the additives demand in polyurethane industry.
Asia-Pacific to Witness Strong Growth in Polyurethane Additives Market
The global focus of PU is currently on Asia-Pacific as well as the Middle East countries. China, India, Thailand, and Vietnam are some of the key markets for PU due to their large population base and low per capita consumption of PU compared to developed countries, such as Germany or the United States. China is the largest consumer of PU as it is the largest producer of footwear and automobiles globally. Approximately 65% of the world’s footwear is manufactured in China and approximately 15% is produced in India, Vietnam, and Indonesia, combined. As a result, Asia-Pacific (including China) accounted for almost 45% of the global PU consumption by volume. India and China alone manufacture approximately 50% of the world’s cars and, in turn, consume approximately 50% of the PU used for automobiles globally. The growing property market has also spurred the growth of the furniture, mattress, and insulation industries, all of which rely heavily on PU as a key raw material.
Polyurethane Additives Market Major Players
Aramco Performance Materials LLC
Braskem
Cortec Corporation
DRD Additives
Emery Oleochemicals
Functional Products
GEO Specialty Chemicals Inc.
Hankuck Latices
ICL Industrial
INEOS Chlor
Kolon Industries
Lanxess
Reasons to Purchase Polyurethane Additives Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which end-user type is expected to dominate the polyurethane additives market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel
Customize Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
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