Overview and Scope
Polyurethane elastomers refers to a synthetic materials with elastomeric properties that are based on diisocyanates, polyols, and in some cases, chain extenders. They are a type of elastic polymer that can be stretched and when released, it will rebound to its original dimension and shape. This can be strong, stiff, flexible, tough, resilient, durable, and long-lasting. They are used in various applications, such as mining screens, pump impellers, conveyor belts, rollers, and wheels.
Sizing and Forecast
The polyurethane elastomers market size has grown strongly in recent years. It will grow from $18.34 billion in 2023 to $19.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to industrial growth and manufacturing expansion, automotive sector expansion, versatility in applications, increasing construction activities, consumer goods manufacturing.
The polyurethane elastomers market size is expected to see strong growth in the next few years. It will grow to $24.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to continued industrialization in developing regions, evolving automotive industry requirements, rising construction and infrastructure development, expansion of electronics and consumer goods markets, rise in demand for customized solutions. Major trends in the forecast period include advancements in formulations and technologies, technological advancements in production, growing applications in medical device, increased usage in construction and infrastructure, advancements in processing technologies.
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The polyurethane elastomers market covered in this report is segmented –
1) By Type: Thermoplastic Elastomers, Thermosetting Elastomers
2) By Processing: Injection Molding, Extrusion, Blow and Compression Molding
3) By Application: Automotive, Construction, Packaging Industry, Furniture And Interiors, Electronics And Appliances, Other Applications
Asia-Pacific was the largest region in the polyurethane elastomers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polyurethane elastomers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising automotive industry is expected to propel the growth of the polyurethane elastomers market going forward. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, production, marketing, and sale of motor vehicles. Polyurethane elastomers used in the automotive industry for to provide a versatile solution, offering a balance of flexibility, resilience, and chemical resistance, enhancing the performance and longevity of components. For instance, in December 2023, according to MarkLines Co. Ltd., a US-based provider of online information services to the automotive industry, US new vehicle sales of 1,242,376 units for November 2023 represented an increase of 2.6% from October 2023 and an increase of 8.8% from November 2022. Therefore, the rising automotive industry is driving the growth of the polyurethane elastomers market.
Key Industry Players
Major companies operating in the polyurethane elastomers market report are BASF SE, Dow Inc., Lyondellbasell, Saint-Gobain Performance Plastics Corporation, 3M, Wanhua Chemical Group Co. Ltd., Covestro AG, Mitsui Chemicals Inc., DuPont, LANXESS AG, Huntsman Corporation, Tosoh Corporation, The Lubrizol Corporation, Polyone Corporation (Avient Corporation), Trelleborg AB, Stepan Company, Carpenter Technology Corporation, Rogers Corporation, INOAC CORPORATION, The Vita Group, Kingfa Science And Technology, Rogers Foam Corporation, RECKLI, Polytek Development Corp., Argonics Inc., Bayer Materialscience LLC, Renosol Corporation, Marchem, VCM Polyurethanes Pvt. Ltd., Cellular Mouldings Ltd.</b
The polyurethane elastomers market report table of contents includes:
1. Executive Summary
2. Polyurethane Elastomers Market Characteristics
3. Polyurethane Elastomers Market Trends And Strategies
4. Polyurethane Elastomers Market – Macro Economic Scenario
……….
32. Global Polyurethane Elastomers Market Competitive Benchmarking
33. Global Polyurethane Elastomers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Polyurethane Elastomers Market
35. Polyurethane Elastomers Market Future Outlook and Potential Analysis
36. Appendix
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