The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Polyurethane Global Market Report 2024 offers crucial insights into the polyurethane market help businesses analyse and build stronger strategies.

The polyurethane market has experienced remarkable growth in recent years, with a substantial increase in its market size. The industry is poised for further expansion, with the market expected to grow from $89.92 billion in 2023 to $103.08 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14.6%.

Factors Driving Growth in the Historic Period

1. Construction and Insulation: The historic growth of the polyurethane market can be attributed to its widespread use in construction and insulation applications.
2. Automotive Industry: The automotive sector has been a key contributor to the market’s growth, leveraging polyurethane in various components.
3. Furniture and Bedding: The demand for polyurethane in furniture and bedding has surged, driven by its versatility and performance.
4. Coatings and Adhesives: Polyurethane’s applications in coatings and adhesives have played a pivotal role in its historic growth.

Anticipated Growth in the Forecast Period
The growth trajectory of the polyurethane market is set to continue, with a projected market size of $171.11 billion in 2028 at a CAGR of 13.5%. The forecasted growth is influenced by several factors.

1. Sustainability and Green Initiatives: Increasing emphasis on sustainability and green practices is a significant driver for polyurethane’s growth.
2. Energy Efficiency in Buildings: Polyurethane’s role in enhancing energy efficiency in buildings is a key factor in its anticipated growth.
3. Automotive Lightweighting: The automotive industry’s focus on lightweight materials, including polyurethane, contributes to market expansion.
4. Medical Devices and Healthcare: Growing applications of polyurethane in medical devices and healthcare further propel the market.

Major Trends Shaping the Future

1. Bio-based Polyurethanes: The rise of bio-based polyurethanes aligns with the industry’s commitment to sustainable practices.
2. Smart Materials: The integration of smart materials enhances polyurethane applications, opening up new possibilities.
3. Customized Formulations: Tailoring polyurethane formulations to specific needs drives innovation and market differentiation.
4. 3D Printing with Polyurethanes: The adoption of 3D printing technology expands the scope of polyurethane applications.

Polyurethane’s Growing Role in Home Furnishings and Furniture Manufacturing

The use of polyurethane in home furnishings has become a key driver for market growth, particularly in furniture manufacturing.

1. Enhancing Comfort and Durability: Furniture companies leverage flexible polyurethane foam (FPF) to enhance comfort and durability in upholstered furniture, bedding, and carpet underlay.
2. Advanced Manufacturing Processes: Innovations in manufacturing processes result in more uniform, predictable, and durable polyurethane products.
3. Endorsement by U.S. EPA: Cured polyurethane products are recognized as inert and safe by the U.S. EPA, reinforcing the material’s safety credentials.
4. Key Market Players: Major companies in the polyurethane market include Dow Chemical Company, BASF SE, Covestro AG, Huntsman Corporation, and others.

Read The Full Polyurethane Market Report Here:
https://www.thebusinessresearchcompany.com/report/polyurethane-global-market-report

Dow’s Innovative V Plus Perform Technology

1. Introduction of V Plus Perform: Major players like Dow Inc. are driving innovation in the market, exemplified by the introduction of V PLUS Perform technology.
2. Circular and Reduced Carbon Building Materials: V PLUS Perform is a mass balance ingredient panel insulation technique designed to promote the use of circular and reduced carbon building materials.

Mearthane Products Corporation’s Acquisition of American Urethane Inc

1. Acquisition Overview: In June 2023, Mearthane Products Corporation acquired American Urethane Inc, expanding its capabilities in thermoset polyurethane products.
2. Capacity Expansion: The acquisition provides MPC with access to American Urethane’s capacity for polyurethane casting and molding.
3. Geographic Expansion: MPC’s acquisition allows for an increased presence in Odenton, Maryland, where American Urethane is based.

Market Segmentation

1. By Product Type: Coatings, Adhesives and sealants, Flexible and rigid foams, Elastomers, Other Product Types.
2. By Raw Material: MDI, TDI, Polyols.
3. By End User Industry: Furniture, Construction, Electronics & Appliances, Automotive, Footwear, Other End Use Industries.

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The Polyurethane Global Market Report 2024  provides a comprehensive outlook of the polyurethane market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The polyurethane market forecast offers a thorough analysis on polyurethane market size, polyurethane market share, prominent players and their strategies.

The Table Of Content For The Polyurethane Market Include:
1. Polyurethane Market Executive Summary
2. Polyurethane Market Segments
3. Polyurethane Market Size And Polyurethane Market Growth Rate
4. Key Polyurethane Market Trends
5. Major Polyurethane Market Drivers
……
25. Key Mergers And Acquisitions In The Polyurethane Market
26. Top Polyurethane Companies
27. Polyurethane Market Opportunities And Strategies
28. Polyurethane Market, Conclusions And Recommendations
29. Appendix

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