Global Polyurethane Market 2016-2020
Polyurethane is a polymer of the organic compound urethane. These polymers are formed by reacting di- or polyisocyanate with a polyol. Most of the polyurethanes that are currently available are thermosetting polymers that do not melt at high temperatures.
Technavio’s analysts forecast the global polyurethane market to grow at a CAGR of 7.41% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyurethane market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of polyurethane for various applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polyurethane Market 2016-2020
Technavio recognizes the following companies as the key players in the global polyurethane market: BASF, Covestro, The Dow Chemical Company, DuPont, and Huntsman.
Other Prominent Vendors in the market are: Alliance Polymers and Services, Austin Novel Materials, Hitachi Chemical company, Mitsui Chemicals, RAMPF Polymer Solutions, Rhino Linings, Myriant, and SNP.
Commenting on the report, an analyst from Technavio’s team said: “Growing demand from electronics industry will be a key trend for market growth. Polyurethane is used as an enclosing material to secure minute components in electronic devices. The material also provides thermal shock resistance and vibration resistance along with resistance to harsh chemicals and water. It offers flexibility in the encapsulating technique as it can be sprayed or injected to the desired set of components. Moreover, polyurethane has a comparatively quick dry time than commonly used resins.”
According to the report, increased use of bio-based polyurethane in construction applications will be a key driver for market growth. Growth in global population and rapid urbanization have increased the demand for housing, infrastructure, furniture, and other consumer products. Rigid polyurethane foam is widely used for thermal insulation of walls for buildings, vessels for refrigerated cargo, light-weight products used in construction and automotive applications, pipelines, and cryogenic wind tunnels. These foams are preferred over conventional materials such as fiberglass and mineral wool owing to the relatively higher insulation offered by them. Further, they increase the living space and provide excellent energy efficiency.
Further, the report states that the manufacturing process requires other key raw materials such as blowing agents, surfactants, polyol, and other catalysts. The prices of these materials are also increasing. In addition, the technologies required for manufacturing bio-based thermoplastic polyurethane are costly and sophisticated, thereby posing a challenge to market growth.
BASF, Covestro, The Dow Chemical Company, DuPont, Huntsman, Alliance Polymers and Services, Austin Novel Materials, Hitachi Chemical company, Mitsui Chemicals, RAMPF Polymer Solutions, Rhino Linings, Myriant, SNP.