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Polyurethanes (PU) Market Report Scope & Overview:

The Polyurethanes (PU) Market Size was valued at USD 59.76 billion in 2022, and expected to reach USD 90.34 billion by 2030, and grow at a CAGR of 5.3% over the forecast period 2023-2030. The chemistry of polyurethane allows it to be moulded into unexpected shapes and added comfort and convenience to industrial and consumer applications.

Polyurethanes are made by combining polyols with diisocyanates or polymeric isocyanates in the presence of catalysts and additives. To fulfil the needs of specific applications, a wide range of polyols are used to create a variety of products. Polyurethane materials are used in a wide range of everyday consumer goods. Polyurethane is used in a variety of applications, including upholstered furniture, rigid foam for wall and roof insulation, TPU in medical equipment and footwear, coatings, adhesives, sealants, and elastomers for flooring and automobile interiors.

Polyurethanes (PU) Market Regional Analysis

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Market Dynamics:

Drivers:

  • Polyurethane's versatility and unique physical qualities

  • Polyurethane is becoming more widely used in refrigeration applications.

  • The bedding was revitalised thanks to memory foam.

Restraints:

  • Environmental problems and dangers of exposure

  • Demand for acid-epoxy coatings is increasing.

Opportunity:

  • Growing demand for low-VOC, environmentally friendly, and long-lasting polyurethane

  • Polyurethane recycling and recovery expand

Challenge:

  • New bio-based polyurethane feedstock.

  • Crude oil price volatility

Impact of COVID-19:

The COVID-19 epidemic has had a significant impact on several key end-use industries in the PU market, including furniture, construction, electronics, automotive, and others. The pandemic and ensuing lockdown have reduced the staff in manufacturing units, resulting in lower polyurethane production. Revenue losses, indebtedness, poorer supply chains, and other challenges have been posed by the new coronavirus to market enterprises. The uncontrollable spread of SARS-CoV-2 around the world has prompted prominent manufacturers to adhere to tight safety standards and maintain effective communication, as the health of their employees has become a top priority. Vendors are also under pressure to undertake competitive measures in order to maintain their market positions, despite the COVID-19 pandemic's obstacles.

Market Segments:

By Raw Material Type

  • Polyol

  • MDI

  • TDI

  • Others

By Product Type:

  • Flexible foam

  • Rigid foam

  • Coating

  • Adhesive & sealants

  • Others

By End User:

  • Building & construction

  • Automotive & transportation

  • Bedding & furniture

  • Footwear

  • Appliances & white good

  • Others

Polyurethanes (PU) Market Segmentation Analysis

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Regional analysis:

Given the government's increased focus on energy efficiency and homes progressively embracing thermal insulation backed by federal assistance, the US polyurethane market has emerged as one of the best performers in North America. Polyurethane's expanding application scope in North American industries such as textiles, food, apparel, personal protective equipment, and medical is further driving market expansion.

REGIONAL COVERAGE:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • The Netherlands
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • south Korea
    • China
    • India
    • Australia
    • Rest of Asia-Pacific
  • The Middle East & Africa
    • Israel
    • UAE
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Key Drivers:

Eastman Chemical Company (U.S.), BASF SE (Germany), Tosoh Corporation (Japan), Huntsman Corporation (U.S), The Dow Chemical Company (U.S), Covestro AG (Germany), DIC Corporation (JAPAN).

Huntsman Corporation (U.S)-Company Financial Analysis

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Polyurethanes (PU) Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 59.76 Billion
Market Size by 2030 US$ 90.34 Billion
CAGR CAGR of 5.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2019-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Raw Material Type (Polyol, MDI, TDI, Others)
• By Product Type (Flexible foam, Rigid foam, Coating, Adhesive & sealants, Others)
• By End User (Building & construction, Automotive & transportation, Bedding & furniture, Footwear, Appliances & White Good)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Eastman Chemical Company (U.S.), BASF SE (Germany), Tosoh Corporation (Japan), Huntsman Corporation (U.S), The Dow Chemical Company (U.S), Covestro AG (Germany), DIC Corporation (JAPAN),
DRIVERS • Polyurethane's versatility and unique physical qualities
• Polyurethane is becoming more widely used in refrigeration applications.
• The bedding was revitalised thanks to memory foam.
Restraints • Environmental problems and dangers of exposure
• Demand for acid-epoxy coatings is increasing.

Frequently Asked Questions

The growth rate of the Polyurethanes (PU) Market is 5.3% over the forecast period 2023-2030.

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

 

Ans: The COVID-19 epidemic has had a significant impact on several key end-use industries in the PU market, including furniture, construction, electronics, automotive, and others. The pandemic and ensuing lockdown have reduced the staff in manufacturing units, resulting in lower polyurethane production. Revenue losses, indebtedness, poorer supply chains, and other challenges have been posed by the new coronavirus to market enterprises. The uncontrollable spread of SARS-CoV-2 around the world has prompted prominent manufacturers to adhere to tight safety standards and maintain effective communication, as the health of their employees has become a top priority. Vendors are also under pressure to undertake competitive measures in order to maintain their market positions, despite the COVID-19 pandemic's obstacles.

 

Ans: Polyurethane's versatility and unique physical qualities, Polyurethane is becoming more widely used in refrigeration applications and The bedding was revitalised thanks to memory foam are the drivers for Polyurethanes (PU) Market.

 

Ans: New bio-based polyurethane feedstock and Crude oil price volatility  are the challenges faced by the Polyurethanes (PU) Market.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Global Polyurethanes (PU) Market Segment, By Raw Material Type

8.1 Polyol

8.2 MDI

8.3 TDI

8.4 Others

9. Global Polyurethanes (PU) Market Segment, By Product Type

9.1 Flexible foam

9.2 Rigid foam

9.3 Coating

9.4Adhesive & sealants

9.5 Others

10. Global Polyurethanes (PU) Market Segment, By End User

10.1 Building & construction

10.2 Automotive & transportation

10.3 Bedding & furniture

10.4 Footwear

10.5 Appliances & white good

10.6 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1Brazil

12.6.2 Argentina

11.6.3 Rest of Latin America

12. Company Profile

12.1 Eastman Chemical Company (U.S.)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 BASF SE (Germany)

12.3 Tosoh Corporation (Japan)

12.4 Huntsman Corporation (U.S)

12.5 The Dow Chemical Company (U.S)

12.6 Covestro AG (Germany)

12.7 DIC Corporation (JAPAN)

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

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Data Bank Validation

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