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Polyurethane Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Starting Price : $4000 | Pages : 175 | Published : January 2021 | SKU CODE : 7314 | Format :


The polyurethane market consists of the sales of polyurethane and related services which are used in foams as an insulation material, coatings, adhesives and sealants and an elastomer. Polyurethane refers to form of plastic polymer material which is used to produce modern, versatile and safe consumer and industrial products that are environmental friendly. Polyurethane is formed by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. They are also widely used in medical devices such as pacemakers, artificial hearts, and other blood contacting applications.

The global polyurethane market is expected to grow from $11.25 billion in 2020 to $13.71 billion in 2021 at a compound annual growth rate (CAGR) of 21.9%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.79 billion in 2025 at a CAGR of 5%.

The polyurethane market covered in this report is segmented by product type into coatings, adhesives and sealants, flexible and rigid foams, elastomers, others and by end use industry into furniture, construction, electronics & appliances, automotive, footwear, others.

Adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding and carpet underlay. Furthermore, with the introduction of advanced manufacturing process, polyurethane form provides more uniform, predictable and durable end products. For instance, according to American Chemistry Council, it is proven that FPF when compressed by 90% for 22 hours, could recover more than 90% of its original height, which is highly durable than any other form furniture material. Moreover, completely cured polyurethane products are considered to be inert and safe and was concurred by the U.S. EPA (Environmental Protection Agency). The durability, comfort and safety provided by polyurethane continue to be the major reasons for use in the furniture industry, thereby, driving the demand of polyurethane industry going forward.

Polyurethane providers globally faced uncertain environment regulatory in the historic period. These regulations are to reduce emission of toxic air pollutants from the flexible polyurethane foam industry, and mandates the installation of add-on control equipment at the manufacturers’ site. For instance, the Environmental Protection Agency (EPA) issued a regulation to reduce emission of the toxic air pollutant methylene chloride from the flexible polyurethane foam market. All the polyurethane manufacturers have to comply with this regulation and eliminate the use of methylene chloride for the production of molded foam and rebond foam. Therefore, uncertain government regulations towards environment protection restrains the growth of the polyurethane market.

Demand for sustainable products from construction, automotive and footwear industry are witnessing a rising demand for the manufacturing of bio-based polyurethane (PU) with rising awareness in environmental concerns worldwide. Bio-based polyurethane (PU) are derived from biodegradable materials constituting a rich source of precursors for the synthesis of polyols and isocynates. These chemical are readily availability at lower cost with less environmental impact, and are highly biodegradable. In addition, with increasing commercialization and growing demand for flexible foam for car seats, headrests from major automotive OEMs, polyurethane manufacturers have shifted focus towards developing sustainable and environment friendly products of renewable materials, will drive the use of bio-based polyurethane products in various industries including construction, automotive, coating and footwear. In January 2020, BASF announced a single-digit million-euro investment in the potential expansion of water-based polyurethane dispersions at its Castellbisbal site in Spain. The development will allow BASF to increase its production capacity by 30 percent.

In November 2018, Covestro, a German-based polymer company, accelerated the expansion of its thermoplastic polyurethanes (TPU) business by raising its stake in the joint venture DIC Covestro Polymer Ltd. (DCP) from 50% to 80%. Both the parties agreed to not disclose any financial details of the transaction. Closing of the deal is planned for early second quarter 2019, subject to the approval from the relevant authorities. The investment is part of Covestro’s expansion of its global TPU business. DIC Covestro Polymer Ltd. is a Japan-based supplier of thermoplastic polyurethanes.

The major players covered in the global polyurethane market are The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals, Inc., DIC Corp, Nippon Polyurethane Industry Corp Ltd., Recticel S.A., Woodbridge Foam Corp., RTP Company, LANXESS, Lubrizol Corp., Tosoh Corporation, DowDuPont, Perstorp, Manali Petrochemicals Ltd., Wanhua Chemical Group Co., Ltd., Eastman Chémical Co, Nippon PU Industry Corp, Recticel S.A, Rampf Holding GmbH & Co. KG, Foamex Innovations (U.S), Kuwait Polyurethane Industries W.L.L, Recticel s.a./n.v., Rogers Corporation, Sheela Foam Ltd., INOAC Corporation.

The countries covered in the global polyurethane market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia.

The regions covered in the global PU market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The global polyurethane market is segmented -

1) By Product Type: Coatings, Adhesives and Sealants, Flexible and Rigid Foams, Elastomers, Others

2) By End Use Industry: Furniture, Construction, Electronics & Appliances, Automotive, Footwear, Others

3) By Raw Material: MDI, TDI, Polyols

    1. Executive Summary

    2. Polyurethane  Market Characteristics

    3. Polyurethane  Market Trends And Strategies

    4. Impact Of COVID-19 On Polyurethane  

    5. Polyurethane  Market Size And Growth

    5.1. Global Polyurethane  Historic Market, 2015-2020, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Polyurethane  Forecast Market, 2020-2025F, 2030F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Polyurethane  Market Segmentation

    6.1. Global Polyurethane  Market, Segmentation  By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Coatings

    Adhesives and sealants

    Flexible and rigid foams

    Elastomers

    Others

    6.2. Global Polyurethane  Market, Segmentation  By End Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

     Furniture

    Construction

    Electronics & Appliances

    Automotive

    Footwear

    Others

    6.3. Global Polyurethane  Market, Segmentation  By Raw Material, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    MDI

    TDI

    Polyols

    7. Polyurethane  Market Regional And Country Analysis

    7.1. Global Polyurethane  Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    7.2. Global Polyurethane  Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    8. Asia-Pacific Polyurethane  Market  

    8.1. Asia-Pacific Polyurethane  Market Overview  

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    9. China Polyurethane  Market  

    9.1. China Polyurethane  Market Overview  

    9.2. China Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

    10. India Polyurethane  Market  

    10.1. India Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    11. Japan Polyurethane  Market  

    11.1. Japan Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    12. Australia Polyurethane  Market  

    12.1. Australia Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    13. Indonesia Polyurethane  Market  

    13.1. Indonesia Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    14. South Korea Polyurethane  Market  

    14.1. South Korea Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    15. Western Europe Polyurethane  Market  

    15.1. Western Europe Polyurethane  Market Overview

    15.2. Western Europe Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    16. UK Polyurethane  Market  

    16.1. UK Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    17. Germany Polyurethane  Market  

    17.1. Germany Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    18. France Polyurethane  Market  

    18.3. France Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    19. Eastern Europe Polyurethane  Market  

    19.1. Eastern Europe Polyurethane  Market Overview

    19.2. Eastern Europe Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    20. Russia Polyurethane  Market  

    20.1. Russia Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    21. North America Polyurethane  Market  

    21.1. North America Polyurethane  Market Overview

    21.2. North America Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    22. USA Polyurethane  Market  

    22.1. USA Polyurethane  Market Overview

    22.2. USA Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    23. South America Polyurethane  Market  

    23.1. South America Polyurethane  Market Overview

    23.2. South America Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    24. Brazil Polyurethane  Market  

    24.1. Brazil Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    25. Middle East Polyurethane  Market  

    25.1. Middle East Polyurethane  Market Overview

    25.2. Middle East Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    26. Africa Polyurethane  Market  

    26.1. Africa Polyurethane  Market Overview

    26.2. Africa Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    27. Polyurethane  Market Competitive Landscape And Company Profiles

    27.1. Polyurethane  Market Competitive Landscape

    27.2. Polyurethane  Market Company Profiles

    27.2.1. The Dow Chemical Company

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. BASF SE

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Covestro

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Huntsman Corp.

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Eastman Chemical Co.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Polyurethane  Market

    29. Polyurethane  Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Table 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Table 3: Global Polyurethane  Market, Segmentation  By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 4: Global Polyurethane  Market, Segmentation  By End Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 5: Global Polyurethane  Market, Segmentation  By Raw Material, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 6: Global Polyurethane  Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 7: Global Polyurethane  Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 8: Asia-Pacific, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 9: China, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 10: India, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 11: Japan, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 12: Australia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 13: Indonesia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 14: South Korea, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 15: Western Europe, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 16: UK, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 17: Germany, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 18: France, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 19: Eastern Europe, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 20: Russia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 21: North America, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 22: USA, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 23: South America, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 24: Brazil, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 25: Middle East, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 26: Africa, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 27: The Dow Chemical Company Financial Performance
  • Table 28: BASF SE Financial Performance
  • Table 29: Covestro Financial Performance
  • Table 30: Huntsman Corp. Financial Performance
  • Table 31: Eastman Chemical Co. Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Figure 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Figure 3: Global Polyurethane  Market, Segmentation  By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 4: Global Polyurethane  Market, Segmentation  By End Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 5: Global Polyurethane  Market, Segmentation  By Raw Material, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 6: Global Polyurethane  Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 7: Global Polyurethane  Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 8: Asia-Pacific, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 9: China, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 10: India, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 11: Japan, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 12: Australia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 13: Indonesia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 14: South Korea, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 15: Western Europe, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 16: UK, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 17: Germany, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 18: France, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 19: Eastern Europe, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 20: Russia, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 21: North America, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 22: USA, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 23: South America, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 24: Brazil, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 25: Middle East, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 26: Africa, Polyurethane  Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 27: The Dow Chemical Company Financial Performance
  • Figure 28: BASF SE Financial Performance
  • Figure 29: Covestro Financial Performance
  • Figure 30: Huntsman Corp. Financial Performance
  • Figure 31: Eastman Chemical Co. Financial Performance
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