The Polyurethane Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Polyurethane Global Market Report 2024, The polyurethane market size has grown rapidly in recent years. It will grow from $89.92 billion in 2023 to $103.08 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to construction and insulation, automotive industry, furniture and bedding, coatings and adhesives.
The polyurethane market size is expected to see rapid growth in the next few years. It will grow to $171.11 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to sustainability and green initiatives, energy efficiency in buildings, automotive lightweighting, medical devices and healthcare. Major trends in the forecast period include bio-based polyurethanes, smart materials, customized formulations, 3d printing with polyurethanes.
The adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health, and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding, and carpet underlay. Furthermore, with the introduction of an advanced manufacturing process, polyurethane foam provides more uniform, predictable, and durable end products. For instance, according to the American Chemistry Council, it is proven that FPF, when compressed by 90% for 22 hours, can recover more than 90% of its original height, which is more durable than any other form of furniture material. Moreover, completely cured polyurethane products are considered to be inert and safe and have been concurred with by the U.S. EPA (Environmental Protection Agency). The durability, comfort, and safety provided by polyurethane will continue to be the major reasons for its use in the furniture industry, thereby driving the demand for the polyurethane industry going forward.
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The polyurethane market covered in this report is segmented –
1) By Product Type: Coatings; Adhesives and sealants; Flexible and rigid foams; Elastomers; Other Product Types
2) By Raw Material: MDI, TDI, Polyols
3) By End User Industry: Furniture; Construction; Electronics & Appliances; Automotive; Footwear; Other End Use Industries
The polyurethane market report table of contents includes:
- Executive Summary
- Polyurethane Market Characteristics
- Polyurethane Market Trends And Strategies
- Polyurethane Market – Macro Economic Scenario
- Global Polyurethane Market Size and Growth
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- Global Polyurethane Market Competitive Benchmarking
- Global Polyurethane Market Competitive Dashboard
- Key Mergers And Acquisitions In The Polyurethane Market
- Polyurethane Market Future Outlook and Potential Analysis
- Appendix
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