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(Transportation-News.com, November 17, 2018 ) According to the new market research report “Polyurethane Additive 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”, published by MarketsandMarkets™, the market for polyurethane additives is expected to reach USD 2.75 Billion by 2021, at a CAGR of 6.3% from 2016 to 2021.
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The market is driven by growing demand of polyurethane in the building & construction industry. This growth results from an increase in demand for rigid foam mainly for insulation purposes. Rigid foam lowers energy costs by reducing heating and cooling requirements.
Asia-Pacific: The Largest Market for Polyurethane Additive in 2016
Asia-Pacific is currently the largest market for polyurethane additives. China and India are the leading countries where there is major consumption of polyurethane additives in end-use industries such as building & construction, automotive, and furniture. Moreover, the growing population in India and China with rising disposable income is driving the demand for high-quality consumer products which is expected increase the use of polyurethane in many consumer goods.
Browse and in-depth TOC on “Polyurethane Additive Market”
79 - Tables
27 - Figures
227 - Pages
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Flexible Foam: The Largest Application Segment of the Polyurethane Additive Market in 2016
Polyurethane additives are used in various forms of polyurethane application such as flexible foams, coatings, adhesives & sealant, elastomers, and binders. The flexible foam segment accounted for the largest market share, in terms of value as well as volume, followed by rigid foam in 2016. The elastomers segment is projected to grow at the highest CAGR from 2016 to 2021, in terms of value.
Building & construction expected to dominate the market for PU additive in 2016
The building & construction industry is projected to drive the polyurethane additive market, aided by increased demand for insulation applications for maintaining optimum temperature and reducing the energy cost. Automotive is another end-use industry where polyurethane is being used for vehicle interiors as well as exteriors. The use of the polyurethane helps reduce the weight of vehicles and enhance fuel efficiency.
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The key players in the polyurethane additives market are Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Tosoh Corporation (Japan), Albemarle Corporation (U.S.), Eastman Chemical Company (U.S.), Kao Corporation (Japan), Evonik Industries AG (Germany), Air Products and Chemicals, Inc, (U.S.), and Momentive Performance Materials Inc. (U.S.).
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