Energy Industry News Releases
( EnergyIndustry.Net, December 24, 2019 ) Market Overview
• The global polyurethane market is estimated to reach a market value of USD 67,800.87 million by 2026 and will grow at a CAGR of 5.83% in the period 2019-2026.
• The market value was USD 45,661.31 million in 2018.
• Consumption of polyurethane was estimated to grow at a CAGR of 6.82% in the forecast period to become 36.12 million metric tons by 2025.
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Drivers and Restraints
• Growing construction and automobile markets have increased the usage of bio-polyurethane in the construction sector and refrigerators sectors.
• Volatile raw material prices and growing environmental concerns are major factors restraining the growth of the polyurethane foam market.
• The polyurethane market size is segmented based on the product type, raw material, end user, and geography.
• By application, the furniture sector is estimated to have the largest market share of 33.12% in the polyurethane market forecast period.
• It is estimated that the global consumption of polyurethane was 21.31 million metric tons in 2017 with furniture sector accounting for 7 million metric tons.
• By product type, the flexible foam market accounted for the largest market share of 32.38% in 2017 and is estimated to have the highest market value by 2025.
• By geography, the Asia-Pacific region had a major market share of 52.1% in 2016 followed by Europe and North America.
• Large consumption of polyurethane in India, China, and Japan is increasing the demand for polyurethane market.
• China is the second largest producer of polyurethane in 2017.
Some of the major companies in the industry include
• Huntsman Corp
• Covestro AG
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