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Polyurethane Market Share

Report ID: GMI387
Published Date: Nov 2019
Report Format: PDF

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Polyurethane Market Share

In March 2018, Huntsman Corporation announced the acquisition of Demilec, a manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications. This acquisition will integrate and expand Demilec into polyurethanes business and deliver improved energy efficiency solutions for various applications.

In August 2018, Mitsui Chemicals introduced its new polyurethane system house in India. The new system house known as MCNS Polyurethanes India Pvt. Ltd. operates as a joint venture of Mitsui Chemicals and SKC Polyurethanes Co., Ltd. . This new subsidiary will be manufacturing and selling polyurethane products and has been built up with an annual capacity of 15,000 tons per year which will provide high-quality polyurethane foam material formulations to meet customer requirements.

In September 2018, BASF, a global manufacturer of chemicals, introduced its new polyurethane production facility in Taiwan. This expanded capacity will meet the growing demand for PU material across various industries and will serve customer requirements in Asia Pacific.

Several major players are involved in various strategic collaborations to improve their market presence and gain a competitive edge in the industry. Global polyurethane industry consists of players such as:

BASF
Bayer MaterialScience
Mitsui Chemicals
Huntsman Corporation
The Dow Chemical Company.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

Polyurethane market size had exceeded USD 59.5 billion in 2018 and will witness a CAGR of about 5.8% over 2019-2026 with the emergence of sustainable polymer formulations that make less environmental impact.

Polyurethanes are used for manufacturing automotive, electronics, furniture, and packaging products owing to their durability, high load bearing capacity, and tear resistance.

BASF, Bayer MaterialScience, Mitsui Chemicals, Huntsman Corporation and The Dow Chemical Company are some of the prominent players in polyurethane industry.

German polyurethane market will witness a CAGR of above 4.5% through 2026 with rising automotive application in making armrests, headrests, seats, etc. due to superior comfort and cushioning properties.

Rigid polyurethane foams market will register CAGR of 5% through 2026 with increased application as insulating material in electronics and construction sectors owing to high temperature & moisture resistance.