Global Polyurethane Market - Size, Trends, Competitive Analysis, Market Share and Forecasts (2019-2026)
The global polyurethane market is estimated to reach a market value of USD 67,800.87 million by 2025 and the market is growing at a CAGR of 5.83% in the forecasted period 2019-2026. The global polyurethane market value was USD 45,661.31 million in 2018. The global consumption of polyurethane was estimated to grow at a CAGR of 6.82% in the forecasted period. The polyurethane consumption was estimated to be 36.12 million metric tons by 2025.
Growing construction and automobile markets, increased usage of bio-polyurethane market in the construction sector, and increasing usage of polyurethane in the refrigerators sector are the major factors driving the market growth. Volatile raw material prices and growing environmental concerns are the major factors restraining the growth of the market.
The polyurethane market is segmented based on the product type, raw material, end user, and on geography. By application, the furniture sector is estimated to have the large market share accounting for a market share of 33.12% in the forecasted period. It is estimated that the global consumption of polyurethane by 21.31 million metric tons in 2017 with furniture sector accounting for 7 million metric tons.
By product type, flexible foam market accounts for a largest market share of 32.38% in 2017 and is estimated to have the largest market value by 2025. By geography, Asia-Pacific region has the largest market share of 52.1% in 2016 followed by Europe and North America. Large consumption of polyurethane in the India, China, and Japan is increasing the demand for the polyurethane market. China is the second largest producer of polyurethane in 2017.
Some of the major companies in the industry include
The polyurethane market is fairly fragmented market with large number of companies present in the market and major companies in the industry hold only a minor market share.
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