Polyurethane Additives Market by Type, Application (Flexible Foam, Rigid Foam, Adhesive & Sealant, Coating, Elastomer, Binders), End-Use Industry (Automotive, Building & Construction, and Bedding & Furniture), and Region - Global Forecast to 2021
“Growing use of polyurethane additives in building & construction industries is a prime factor for the growth of the polyurethane additives market.”
The global polyurethane additive market is projected to reach USD 2.75 billion by 2021 at a CAGR of 6.3% from 2016 to 2021. The growth is fueled by rising demand for polyurethane additives across various end-use industries such as building & construction and automotive. This growth is mainly driven due to increasing demand for rigid foam mainly for insulation purposes.
Volatility in raw material prices can result in lower demand for polyurethane additives and increased pressure from regulatory bodies can curtail the growth of polyurethane additive market.
“Elastomer is the fastest-growing segment type during the forecast period”
Elastomer is the fastest-growing polyurethane segment, both in terms of volume and value in the polyurethane additives market. They possess the outstanding thermal stability, mechanical properties, and chemical resistance. These properties make them suitable for a wide range of end-use applications such as auxiliary springs in vehicles, water seals, O-rings, puncture-resistant tire fill, and voltaic cell backings.
“Rising demand in Asia-Pacific is the major driver of the polyurethane additive market“
Asia-Pacific is the fastest-growing market for polyurethane additives, in terms of value and volume. Growing manufacturing industries, high economic growth rate, cheap labor, increasing foreign investments makes it manufacturing hub of the world. The growth of various industries such as automotive and building & construction in Asia-Pacific will boost the demand for polyurethane additives.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
By Company Type - Tier 1 - 56%, Tier 2 – 33%, and Others - 11%
By Designation - C level - 45%, Director level - 33%, and Others - 22%
By Region - North America - 28%, Europe - 22%, Asia-Pacific - 20%, Middle East & Africa - 13%, and South America - 17%
The key companies profiled in this market research report are BASF SE (Germany), Evonik Industries AG (Germany), Tosoh Corporation (Japan), Kao Corporation (Japan), Albemarle Corporation (U.S.), Covestro AG (Germany), Huntsman International LLC (U.S.), Air Products and Chemicals, Inc, and Momentive Performance Materials (U.S.)
The market is given on the basis of type, application, end-use industry, and region. This report covers polyurethane additives market, in terms of value as well as volume, and forecasts its market size till 2021. The report also provides company profiles and competitive strategies adopted by the key players in the global polyurethane additives market.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the polyurethane additives market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. It will help stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.