This study presents a comprehensive analysis of the global polyurethanes (PU) market, with a detailed focus on regional segmentation, revenue, and volume metrics from 2019 to 2029. By examining historical data and projecting future trends, the study offers a seven-year forecast from 2023 to 2029, using 2022 as the base year.
Segmentation by system: rigid foam; flexible foam; adhesives, sealants, and binders; coatings; and elastomers and TPU Segmentation by region: The Americas; Europe; Asia-Pacific; and the Middle East, South Asia, and Africa.
In the Americas, the study covers the United States, Canada, and Latin America, including Mexico. This region demonstrates diverse market dynamics, with the United States leading in consumption and innovation. Canada's market is characterized by its focus on sustainable and
eco-friendly PU products. Latin America shows significant growth potential, driven by its expanding manufacturing and construction sectors.
The European segment encompasses the European Economic Area, European Free Trade Association states, the United Kingdom, and the Commonwealth of Independent States, including Ukraine and Israel. Europe's PU market is distinguished by its stringent environmental regulations and advanced technological landscape. The region's focus on sustainability and the development of eco-friendly PU variants are key factors influencing market growth.
For the Middle East, Africa, and South Asia, the study includes Africa, Middle Eastern countries (including Turkey), and South Asian countries (comprising India, Pakistan, Bangladesh, Sri Lanka, and Nepal). This diverse region is witnessing rapid industrial growth, particularly in the Middle East and South Asia. The demand for PU in construction, automotive, and other industrial applications is propelling the market forward in these areas.
Analysis of Asia-Pacific focuses on China, Japan, South Korea, the Association of Southeast Asian Nations (ASEAN) Free Trade Area, Australia, New Zealand, and other Southeast Asian countries. This region is a significant player in the global PU market, with China leading in volume and innovation. Japan and South Korea are recognized for their technological advancements and high-quality PU products. The ASEAN countries are emerging as key markets due to their growing industrial and construction sectors.
The study's methodology involves an in-depth analysis of the volume and revenue for each system and region, providing insights into the factors driving growth as well as potential challenges. The forecast is based on the expected compound annual growth rates, offering a strategic view of the market's evolution.
The global PU market is poised for robust growth, with each region contributing uniquely to the industry's expansion. This study offers valuable insights for stakeholders, investors, and industry participants, helping them make informed decisions in a dynamic and evolving market.
Author: Aditya Krishnan
Revenue forecast
The revenue estimate for the base year 2022 is $64.42 billion, with a CAGR of 7.1% for the study period 2019–2029
The Impact of the Top 3 Strategic Imperatives on the Polyurethane (PU) Industry
Transformative Mega Trends
Why:
- The UN's Sustainable Development Goals drive the need to create products that support circular economy objectives. Most products made with PU are nonrecyclable; hence, it has become essential for PU raw material and product manufacturers to produce recyclable products or develop technology that enables the recycling of current PU grades.
Frost Perspective:
- During the next 3–5 years, PU manufacturers need to invest in the R&D of recycling technologies for various PU systems that will enhance the penetration of PU in products certified for recycling.
Customer Value Chain Compression
Why:
- The advent of advanced technologies is enabling direct-to-consumer platforms, thus compressing the customer value chain in the PU industry. PU-based footwear manufacturers and other consumer goods manufacturers can employ 3D printing and IoT to offer personalized, direct-to-consumer products. This eliminates intermediary steps, streamlines the supply chain, and enhances customer engagement, reducing friction in the customer journey.
Frost Perspective:
- During the next 5 years, PU resin manufacturers need to invest in R&D and increase collaboration with consumer goods manufacturers for the growth of 3D printable PU resins and thermoplastic polyurethane (TPU).
Geopolitical Chaos
Why:
- As emerging markets grow, demand for PU products expands; however, this also brings about the need for localization strategies. The China–United States trade war, the COVID-19 pandemic, and the Russo-Ukrainian War have reinforced the need to secure supply chains and diversify production locations.
Frost Perspective:
- Isocyanate and polyol manufacturers need to diversify manufacturing to regions such as South Asia, Southeast Asia, and the Middle East during the next 5–7 years to make PU value chains resilient.
Scope of Analysis
- Polyurethane (PU) comprises a family of synthetic polymers produced through exothermic reactions of polyols with isocyanate pre-polymers. These materials find extensive applications in various end industries, including furniture and bedding, building and construction, transportation, footwear, appliances, and packaging.
- This study is an update to Frost & Sullivan’s research on the same topic in 2019, which had a detailed analysis of the impact of COVID-19 on the various tiers of the end-use sector value chain. The current study focuses on the impact of the global economic slowdown on the end-use sector value chain and PU value chain. The study also highlights manufacturers’ recycling initiatives to solve the PU recycling conundrum.
- The study considers various PU systems, as depicted below:
| Scope | Details |
|---|---|
| Geographic Coverage | Global |
| Study Period | 2019–2029 |
| Base Year | 2022 |
| Forecast Period | 2023–2029 |
| Monetary Unit | US Dollars |
| Volume Unit | Kilotons (KT) |
Competitive Environment MDI
| Number of Competitors | <30 |
| Competitive Factors | Cost and performance |
| Key End-user Industry Verticals | Transportation, construction, furniture and bedding, packaging, appliance, footwear, textiles, healthcare, electrical and electronics, and industrial |
| Leading Competitors | Wanhua, BASF, Covestro, Huntsman, and Dow |
| Revenue Share of Top 5 Competitors | 91.9% |
| Other Notable Competitors | BorsodChem, Mitsui Chemicals, Kumho-Mitsui Chemicals, and Yantai Juli Fine Chemicals |
| Distribution Structure | Direct sales and distributors |
| Notable Acquisitions and Mergers | No recent acquisitions |
Key Competitors for PU Raw Materials
- Wanhua
- BASF
- Covestro
- Dow
- Bordschem
- Yantai Juli Fine Chemicals
- Mitsui Chemicals
- Huntsman
- Hanwha
- Vencerx
- Cangzhou Dahua Group Co., Ltd
- Shell
- Stepan
- Lanxess
- Perstorp
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Polyurethane (PU) Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Market Definitions by System
Geographic Scope
Key Competitors for PU Raw Materials
Chemistry of PUs
Value Chain Analysis
Value Chain Analysis Discussion
Systems Houses Universe
Systems Houses Universe (continued)
PU Raw Material (Alternate Sources, Recycled Feed Stock, and Bio Feedstock)
Growth Metrics
Revenue and Volume Forecast
Average Price Forecast
Revenue Forecast by System
Volume Forecast by System
Revenue, Volume, and Average Price Forecast Analysis
Revenue, Volume, and Average Price Forecast Analysis (continued)
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Competitive Environment—MDI
Revenue Share—MDI
Competitive Environment—TDI
Revenue Share—TDI
Competitive Environment—Polyether Polyols
Revenue Share—Polyether Polyols
Segment Characteristics and Overview
Types of Rigid Foams Available
MDI Glycol Ratio
Stoichiometric Ratios of Rigid Foams
Key Growth Metrics for Rigid Foam
Growth Drivers for Rigid Foam
Growth Restraints for Rigid Foam
Summary of Growth Drivers and Restraints
Revenue and Volume Forecast
Average Price Forecast
Forecast Analysis
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Segment Characteristics and Overview
Growth Metrics
Growth Drivers
Growth Restraints
Summary of Growth Drivers and Restraints
Types of PU Flexible Foams
PU Flexible Foams—Stoichiometric Ratios
Revenue and Volume Forecast
Average Price Forecast
Forecast Analysis
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Segment Characteristics and Overview
Growth Metrics
Growth Drivers
Growth Restraints
Summary of Growth Drivers and Restraints
Revenue and Volume Forecast
Average Price Forecast
Forecast Analysis
Forecast Analysis (continued)
Forecast Analysis (continued)
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Segment Characteristics and Overview
Growth Metrics
Growth Drivers
Growth Restraints
Summary of Growth Drivers and Restraints
Revenue and Volume Forecast
Average Price Forecast
Forecast Analysis
Forecast Analysis (continued)
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Segment Characteristics and Overview
Growth Metrics
Growth Drivers
Growth Restraints
Summary of Growth Drivers and Restraints
Revenue and Volume Forecast
Average Price Forecast
Forecast Analysis
Forecast Analysis (continued)
Forecast Analysis (continued)
Revenue Forecast by Region
Volume Forecast by Region
Forecast Analysis by Region
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Forecast Analysis by Region (continued)
Growth Opportunity 1: PUs for EV Applications
Growth Opportunity 1: PUs for EV Applications (continued)
Growth Opportunity 1: PUs for EV Applications (continued)
Growth Opportunity 2: Reshoring to MEASA
Growth Opportunity 2: Reshoring to MEASA (continued)
Growth Opportunity 3: Partnerships in 5G Infrastructure
Growth Opportunity 3: Partnerships in 5G Infrastructure (continued)
Growth Opportunity 3: Partnerships in 5G Infrastructure (continued)
Growth Opportunity 4: Healthcare Applications
Growth Opportunity 4: Healthcare Applications (continued)
Growth Opportunity 4: Healthcare Applications (continued)
Growth Opportunity 5: Circular Economy Initiatives
Growth Opportunity 5: Circular Economy Initiatives (continued)
Growth Opportunity 6: 3D Printing
Growth Opportunity 6: 3D Printing (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures- Total PU Market: Value Chain Analysis, Global, 2022
- PU: Key Growth Metrics, Global, 2022
- PU: Revenue and Volume Forecast, Global, 2019–2029
- PU: Average Price Forecast, Global, 2019–2029
- PU: Revenue Forecast by System, Global, 2019–2029
- PU: Volume Forecast by System, Global, 2019–2029
- PU: Volume Forecast by Application, Global, 2022
- PU: Revenue Forecast by Region, Global, 2019–2029
- PU: Volume Forecast by Region, Global, 2019–2029
- MDI: Competitive Environment, Global, 2022
- MDI: Revenue Share of Top Participants, Global, 2022
- TDI: Competitive Environment, Global, 2022
- TDI: Revenue Share of Top Participants, Global, 2022
- Polyether Polyols: Competitive Environment, Global, 2022
- Polyether Polyols: Revenue Share of Top Participants, Global, 2022
- Rigid Foam: Key Growth Metrics, Global, 2022
- Rigid Foam: Growth Drivers, Global, 2023–2029
- Rigid Foam: Growth Restraints, Global, 2023–2029
- Rigid Foam: Summary of Growth Drivers and Restraints, Global, 2022–2029
- Rigid Foam: Revenue and Volume Forecast, Global, 2019–2029
- Rigid Foam: Average Price Forecast, Global, 2019–2029
- Rigid Foam: Revenue Forecast by Region, Global, 2019–2029
- Rigid Foam: Volume Forecast by Region, Global, 2019–2029
- Flexible Foam: Key Growth Metrics, Global, 2022
- Flexible Foam: Growth Drivers, Global, 2023–2029
- Flexible Foam: Growth Restraints, Global, 2023–2029
- Flexible Foam: Summary of Growth Drivers and Restraints, Global, 2022–2029
- Flexible Foam: Revenue and Volume Forecast, Global, 2019–2029
- Flexible Foam: Average Price Forecast, Global, 2019–2029
- Flexible Foam: Revenue Forecast by Region, Global, 2019–2029
- Flexible Foam: Volume Forecast by Region, Global, 2019–2029
- Adhesives, Sealants, and Binders: Key Growth Metrics, Global, 2022
- Adhesives, Sealants, and Binders: Growth Drivers, Global, 2023–2029
- Adhesives, Sealants, and Binders: Growth Restraints, Global, 2023–2029
- Adhesives, Sealants, and Binders: Summary of Growth Drivers and Restraints, Global, 2022–2029
- Adhesives, Sealants, and Binders: Revenue and Volume Forecast, Global, 2019–2029
- Adhesives, Sealants, and Binders: Average Price Forecast, Global, 2019–2029
- Adhesives, Sealants, and Binders: Revenue Forecast by Region, Global, 2019–2029
- Adhesives, Sealants, and Binders: Volume Forecast by Region, Global, 2019–2029
- Coatings: Key Growth Metrics, Global, 2022
- Coatings: Growth Drivers, Global, 2023–2029
- Coatings: Growth Restraints, Global, 2023–2029
- Coatings: Summary of Growth Drivers and Restraints, Global, 2022–2029
- Coatings: Revenue and Volume Forecast, Global, 2019–2029
- Coatings: Average Price Forecast, Global, 2019–2029
- Coatings: Revenue Forecast by Region, Global, 2019–2029
- Coatings: Volume Forecast by Region, Global, 2019–2029
- Elastomers and TPU: Key Growth Metrics, Global, 2022
- Elastomers and TPU: Growth Drivers, Global, 2023–2029
- Elastomers and TPU: Growth Restraints, Global, 2023–2029
- Elastomers and TPU: Summary of Growth Drivers and Restraints, Global, 2022–2029
- Elastomers and TPU: Revenue and Volume Forecast, Global, 2019–2029
- Elastomers and TPU: Average Price Forecast, Global, 2019–2029
- Elastomers and TPU: Revenue Forecast by Region, Global, 2019–2029
- Elastomers and TPU: Volume Forecast by Region, Global, 2019–2029
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This study presents a comprehensive analysis of the global polyurethanes (PU) market, with a detailed focus on regional segmentation, revenue, and volume metrics from 2019 to 2029. By examining historical data and projecting future trends, the study offers a seven-year forecast from 2023 to 2029, using 2022 as the base year.
Segmentation by system: rigid foam; flexible foam; adhesives, sealants, and binders; coatings; and elastomers and TPU Segmentation by region: The Americas; Europe; Asia-Pacific; and the Middle East, South Asia, and Africa.
In the Americas, the study covers the United States, Canada, and Latin America, including Mexico. This region demonstrates diverse market dynamics, with the United States leading in consumption and innovation. Canada's market is characterized by its focus on sustainable and
eco-friendly PU products. Latin America shows significant growth potential, driven by its expanding manufacturing and construction sectors.
The European segment encompasses the European Economic Area, European Free Trade Association states, the United Kingdom, and the Commonwealth of Independent States, including Ukraine and Israel. Europe's PU market is distinguished by its stringent environmental regulations and advanced technological landscape. The region's focus on sustainability and the development of eco-friendly PU variants are key factors influencing market growth.
For the Middle East, Africa, and South Asia, the study includes Africa, Middle Eastern countries (including Turkey), and South Asian countries (comprising India, Pakistan, Bangladesh, Sri Lanka, and Nepal). This diverse region is witnessing rapid industrial growth, particularly in the Middle East and South Asia. The demand for PU in construction, automotive, and other industrial applications is propelling the market forward in these areas.
Analysis of Asia-Pacific focuses on China, Japan, South Korea, the Association of Southeast Asian Nations (ASEAN) Free Trade Area, Australia, New Zealand, and other Southeast Asian countries. This region is a significant player in the global PU market, with China leading in volume and innovation. Japan and South Korea are recognized for their technological advancements and high-quality PU products. The ASEAN countries are emerging as key markets due to their growing industrial and construction sectors.
The study's methodology involves an in-depth analysis of the volume and revenue for each system and region, providing insights into the factors driving growth as well as potential challenges. The forecast is based on the expected compound annual growth rates, offering a strategic view of the market's evolution.
The global PU market is poised for robust growth, with each region contributing uniquely to the industry's expansion. This study offers valuable insights for stakeholders, investors, and industry participants, helping them make informed decisions in a dynamic and evolving market.
Author: Aditya Krishnan
| Deliverable Type | Market Research |
|---|---|
| Author | Aditya Krishnan |
| Industries | Chemicals and Materials |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | polyurethane material |
| Keyword 2 | polyurethane industry |
| Keyword 3 | pu industry |
| List of Charts and Figures | Total PU Market: Value Chain Analysis, Global, 2022~ PU: Key Growth Metrics, Global, 2022~ PU: Revenue and Volume Forecast, Global, 2019–2029~ PU: Average Price Forecast, Global, 2019–2029~ PU: Revenue Forecast by System, Global, 2019–2029~ PU: Volume Forecast by System, Global, 2019–2029~ PU: Volume Forecast by Application, Global, 2022~ PU: Revenue Forecast by Region, Global, 2019–2029~ PU: Volume Forecast by Region, Global, 2019–2029~ MDI: Competitive Environment, Global, 2022~ MDI: Revenue Share of Top Participants, Global, 2022~ TDI: Competitive Environment, Global, 2022~ TDI: Revenue Share of Top Participants, Global, 2022~ Polyether Polyols: Competitive Environment, Global, 2022~ Polyether Polyols: Revenue Share of Top Participants, Global, 2022~ Rigid Foam: Key Growth Metrics, Global, 2022~ Rigid Foam: Growth Drivers, Global, 2023–2029~ Rigid Foam: Growth Restraints, Global, 2023–2029~ Rigid Foam: Summary of Growth Drivers and Restraints, Global, 2022–2029~ Rigid Foam: Revenue and Volume Forecast, Global, 2019–2029~ Rigid Foam: Average Price Forecast, Global, 2019–2029~ Rigid Foam: Revenue Forecast by Region, Global, 2019–2029~ Rigid Foam: Volume Forecast by Region, Global, 2019–2029~ Flexible Foam: Key Growth Metrics, Global, 2022~ Flexible Foam: Growth Drivers, Global, 2023–2029~ Flexible Foam: Growth Restraints, Global, 2023–2029~ Flexible Foam: Summary of Growth Drivers and Restraints, Global, 2022–2029~ Flexible Foam: Revenue and Volume Forecast, Global, 2019–2029~ Flexible Foam: Average Price Forecast, Global, 2019–2029~ Flexible Foam: Revenue Forecast by Region, Global, 2019–2029~ Flexible Foam: Volume Forecast by Region, Global, 2019–2029~ Adhesives, Sealants, and Binders: Key Growth Metrics, Global, 2022~ Adhesives, Sealants, and Binders: Growth Drivers, Global, 2023–2029~ Adhesives, Sealants, and Binders: Growth Restraints, Global, 2023–2029~ Adhesives, Sealants, and Binders: Summary of Growth Drivers and Restraints, Global, 2022–2029~ Adhesives, Sealants, and Binders: Revenue and Volume Forecast, Global, 2019–2029~ Adhesives, Sealants, and Binders: Average Price Forecast, Global, 2019–2029~ Adhesives, Sealants, and Binders: Revenue Forecast by Region, Global, 2019–2029~ Adhesives, Sealants, and Binders: Volume Forecast by Region, Global, 2019–2029~ Coatings: Key Growth Metrics, Global, 2022~ Coatings: Growth Drivers, Global, 2023–2029~ Coatings: Growth Restraints, Global, 2023–2029~ Coatings: Summary of Growth Drivers and Restraints, Global, 2022–2029~ Coatings: Revenue and Volume Forecast, Global, 2019–2029~ Coatings: Average Price Forecast, Global, 2019–2029~ Coatings: Revenue Forecast by Region, Global, 2019–2029~ Coatings: Volume Forecast by Region, Global, 2019–2029~ Elastomers and TPU: Key Growth Metrics, Global, 2022~ Elastomers and TPU: Growth Drivers, Global, 2023–2029~ Elastomers and TPU: Growth Restraints, Global, 2023–2029~ Elastomers and TPU: Summary of Growth Drivers and Restraints, Global, 2022–2029~ Elastomers and TPU: Revenue and Volume Forecast, Global, 2019–2029~ Elastomers and TPU: Average Price Forecast, Global, 2019–2029~ Elastomers and TPU: Revenue Forecast by Region, Global, 2019–2029~ Elastomers and TPU: Volume Forecast by Region, Global, 2019–2029~ |
| Podcast | No |
| Predecessor | MF5E-01-00-00-00 |
| WIP Number | PF03-01-00-00-00 |
Growth Opportunities in Polyurethane
Growth Opportunities in Polyurethane
Increased Demand for Eco-conscious Solutions and PU Products that Support Circular Economy Principles to Enhance Growth Pipeline
RELEASE DATE
29-Jan-2024
29-Jan-2024
REGION
Global
Global
Deliverable Type
Market Research
Market Research
Research Code: PF03-01-00-00-00
SKU: CM_2023_555
$4,950.00
In stock
SKU
CM_2023_555