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Polyurethanes Market 2020 | Insights & Forecast Research Report 2026

Author : Ravi Chawat | Published Date : 2020-10-13 

Amplifying demand for sustainable plastic solutions in automotive and construction sector will influence polyurethanes market outlook by 2026. Demand for organic and lightweight polymers have increased significantly to reduce environmental degradation. In addition, government initiatives towards infrastructure development are also favoring polyurethane market trends.

According to the latest research report published by Global Market Insights Inc., polyurethanes market size is likely to surpass $93 billion by 2026.

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Polyurethane offers effective bonding, high flexibility, high load bearing capacity, and impact resistance, which has escalated adoption of polyurethane products globally. Polyurethane-based products can enhance aesthetic appearance and provide a clean minimalistic look. Chairs, tables, beds, etc. are being increasingly manufactured by using premium quality plastic materials due to economic feasibility, which is likely to offer momentous growth to polyurethanes industry share. 

Construction sector is generating high growth opportunities for polyurethanes market owing to the unique physical properties and high versatility of the product. The material provides great adhesion and elasticity to several substrates, including wood, concrete, glass, and plastic. These foams act as insulation materials in wall and roof, insulated doors, windows, and air barrier sealants. Polyurethane foam has high insulation properties which makes them apt for use in construction activities. These foams are distinguished by open cell construction and have relatively softer feel as compared to others. Shifting inclination of people towards energy conservation has expanded the usage of PU as thermal insulator in households. 

Production of auto components, construction materials, and footwears leverage load resistance, superior adhesiveness, and high tear strength of polyurethane elastomers. These elastomers are moldable in any shape and are lighter than metals, which is likely to drive polyurethanes industry growth. It can withstand low temperature conditions due to its tensile and tear resistant properties and lengthen product lifespan.

Asia Pacific polyurethanes market size is likely to inflate owing to heightened demand from the packaging industry. The industry has been increasing the adoption of recyclable and sustainable packaging solutions lately. Moreover, development of packaging solutions with high gloss finish and latest designs with the use of PU are on the rise. The latest innovations for packaging solutions involve the use of recyclable materials, especially polyurethane, since they are durable and protect delicate products with high fragility, thereby fueling polyurethanes industry share.

Polyurethane-based foams, sealants, coatings, and adhesives have gained massive relevance in packaging, electronics, and construction sectors. Application of polyurethane as adhesives offer strong bonding, while PU sealants provide tighter seals. Polyurethane companies are striving to advance technologies for polymer manufacturing with extraordinary properties to make the products suitable for a broader application spectrum.

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Europe has been generating high demand for lightweight and high-performance sealants & adhesives owing to stringent regulations towards controlling carbon footprint and use of fuel-efficient vehicles. Governments in Europe and North America have implemented restrictions to reduce environmental degradation. This move has encouraged industry players to develop high-quality plastics to replace traditional heavy metals, which is fueling polyurethanes market size. 

The key polyurethanes market players include Nippon Polyurethane Corporation, Huntsman Corporation, BASF, and Mitsui Chemicals. These companies have been pursuing various strategies, including collaborations, product development, flotation, and others to strengthen their market foothold. For instance, in May 2018, Huntsman Corporation rolled out two thermoplastics polyurethanes for footwear sector. The advanced polyurethane has enhanced slip resistance on wet and dry surfaces.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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