Kenneth Research recently added a report on ‘Polyurethane Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Polyurethane Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Polyurethane is available in various forms depending on the composition of isocyanate and polyols. These types include polyurethane flexible foam, polyurethane rigid foam, PU Coating, Adhesive & Sealants, Elastomers, and Binders. With 37% market share flexible foam is the largest market segment of the polyurethane.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Automotive & furniture have been the most promising industry applications of polyurethane covering more than 50% of the total polyurethane market altogether. PU is a versatile material available in various forms such as rigid foam, flexible foam, TPU (thermoplastic polyurethane), and so on. Such wide range enables its multiple applications in automotive and furniture industry.
Automotive industry is undergoing various innovations in terms of design, comfort and engine efficiency. The main benefits of polyurethanes are comfort, safety, weight saving and longevity and design freedom. The various applications of polyurethane in automotives involve cushion foam, carpet, door panels, sound absorption and vibration dampening, steering wheels and airbag covers and window encapsulation.
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Companies profiled include
1. BASF AG
2. Bayer AG
3. Air Products
4. The DOW Chemical Company
6. E.I. du Pont de Nemours And Company
7. Evonik Industries AG
8. Huntsman Corporation
9. Mitsui Chemicals Inc.
10. Rectiel SA
11. The Vita Group, UK
12. Woodbridge Foam Corporation
This Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. Deep profiles top competitive companies
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Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
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