Worldwide Polyurethane Market is foreseen to accrue around US $92.26 billion by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Polyurethanes generally contain linear polymers that include carbamate groups, which are known as urethanes and are manufactured via condensation process. These involve the reaction between diisocyante and polyol. Researchers claim that the properties of polyurethane are inspired by the characteristics of polyol like reactive functional groups, molecular structure, molecular mass, and other characteristics. Owing to these properties the end product is deployed across various industries including construction, electronics, automotive, furniture, and others. For instance, polyurethanes are used as flexible foams, which are a part of mattresses, cushions, car seats, etc. They are also used as rigid foams, which are a part of insulations in the construction sector, and as molded foam, coatings, elastomers, sealants and adhesives.
Being the only plastic offering rigidness, high flexibility, biostability, durability, low density, and resistance to oil, grease, water and electric currents, polyurethane can function efficiently in extreme environmental conditions. Moreover, it provides strong bonding properties and a wide resilience range and is deployed for manufacturing prototypes.
The product spectrum of polyurethane market can be segmented into PU foam, PU coatings, PU elastomers, flexible PU foam, PU adhesives & sealants, reaction injection molding, thermoplastic polyurethane, binders, and water-borne PUDs (polyurethane dispersions). Speaking of the end-user landscape, the market is fragmented into the automotive, construction, electronics, appliances, footwear, packaging, furnishing, and others.
The worldwide polyurethane market denotes the presence of numerous, well-established international market players, competing on the basis of the products & services range, pricing, quality and technology. The existence of a considerable number of market players reduces costs and sales volumes, which creates a negative impact on a company’s financial health. Furthermore, the market products are subject to various local, state, and federal laws & regulations, trade agreements, and duties. Any alteration or addition to the existing regulations, or an economic downturn in regions where these companies operate, would lead to decreased sales volume and drastically affect the company revenues, claim market analysts.
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The well-known PU market contenders profiled in the report include BASF SE, DIC Corp & RTP Company, Mitsubishi Chemical Corporation, Mitsui Chemicals Inc., LyondellBasell, Eastman Chemical Corporation, Covestro, INEOS, Huntsman Corporation, Woodbridge Foam Corp., The Dow Chemical Co., Lubrizol Corporation, Nippon Polyurethane Industry Corp Ltd., and The Rampf Holding GmbH & Co.
The report also entails an insightful analysis of the global polyurethane market drivers, restraints, and opportunities, which would possibly influence the commercialization scope of this business sphere over the forecast period. The industry analysis included in the report takes into account Porter's five forces, which are the degree of competition, the bargaining power of the supplier, bargaining power of the buyer, the threat of substitute, and the threat of new entrant.