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Global Polyurethane Market to Reach USD 56.76 Billion by 2021: M&M

Published on 2017-01-19. Author : SpecialChem

The report "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", The global polyurethane market was valued at USD 41.83 Billion in 2015 and is projected to reach USD 56.76 Billion by 2021, at a CAGR of 5.6% from 2016 to 2021. The market is driven by the increasing trend in manufacturing light weight & low carbon emitting vehicles and the improved living standards.

What Drives Polyurethane Market?


In 2015, the bedding & furniture end-use industry accounted for the largest market share in terms of volume, followed by the building and construction, appliances & white goods and automotive & transportation end-users. The major flexible foam consumers are the bedding & furniture end-users. The growing urbanization and the improved living standards of the populations, increasing usage of low cost material in the insulation of buildings, and white goods drives the polyurethane market.

Global Polyurethane Market to Reach USD 56.76 Billion by 2021: M&M


Rigid foam products based on polyurethane systems are estimated to grow at the highest CAGR from 2016 to 2021, in terms of volume. The excellent properties of rigid foam products such as, easy availability, low cost, recyclability, and easy to use, are driving the demand for this segment.

Largest Market for Polyurethane


Currently, the Asia-Pacific region is the largest market for polyurethane, in terms of both, value and volume. China is the largest market for polyurethane. However, India and Thailand are the fastest-growing markets for polyurethane in the region.

The following factors are the main driving forces for the polyurethane market in the Asia-Pacific region:
  • The increasing residential building & construction activities are driving the market in the Asia-Pacific region 
  • Growing automotive manufacturing activities are expected to drive the demand for polyurethane in the ASEAN countries 

Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Wanhua Chemical Group Co. Ltd. (China), and Huntsman Corporation (U.S.) are the key players in the polyurethane market.

About MarketsandMarkets

MarketsandMarkets is amongst the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. M&M specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in its reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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Source: M&M
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