Rising demand in Polyurethane market to drive growth opportunities in several regions globally. Major companies to expand their business world wide
According to analysis by Fortune Business Insights the global polyurethane market size is set to hit $87,635.8 million by 2026, exhibiting a CAGR of 6.0% during the forecast period. Increasing demand for furniture from urban areas will be one of the key growth drivers of this market. The furniture industry is rapidly expanding owing to speedy urbanization and a general change in lifestyle of people living in cities. Polyurethane (PUR or PU) is widely utilized in furniture applications, primarily for cushioning and bedding purposes. This will be one of the most prominent Polyurethane Market Trends, which will get further augmented by the housing development activities across the world. Moreover, construction of commercial spaces will also play an important in fueling the demand for PU, which will augur well for the PUR market during the forecast period.
The value Polyurethane Market stood at USD 55,205.9 million in 2018, according to the new Fortune Business Insights™ report, titled
“Polyurethane Market Size, Share & Industry Analysis, By Product Type (Rigid Foam, Flexible Foam, Molded Foam, Elastomers, Adhesives & Sealants, Coatings, and Others), By Application (Furniture, Construction, Electronics, Automotive & Transportation, Packaging, Footwear, and Others),and Regional Forecast, 2019-2026”
Top Players Covered in the Polyurethane Market Report by Fortune Business Insights™:
- Tosoh Corporation
- Eurofoam Group
- Compagnie De Saint-Gobain S.A.
- Mitsui Chemicals & SKC Polyurethanes Inc.
- Foampartner Group
- Rogers Corporation
- Fxi-Foamex Innovations
- Future Foam, Inc
- Other Players
Key Industry Developments:
- June 2019: Huntsman Tecnoelastomeri introduced its new product line of elastomers that are high performance, customizable, MDI-based, and hot cast. They can be operated using very less energy due to its extremely low hysteresis, making them the perfect fit for high-load and heavy-duty operations.
- April 2019: LANXESS, a specialty chemicals company, launched the Adiprene C930 which is a free MDI-based cast urethane. The product is designed to facilitate injection molding of cast PU elastomers, boasting of high efficiency and even higher output.