INDIA (PR Buzz), December 3, 2015 -- MarketStudyReport.com is pleased to introduce a report on Global Polyurethanes Market.
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Global Polyurethanes (PU) market demand is projected to increase from 17million tons to 24 million tons, during 2014-2020. The global market has grown during the past few years, driven by cost effectiveness and the adaptability of polyurethane foams in major end-user industry applications. The market is expected to register a healthy growth on account of the growth in key end-user industries. The Asia-Pacific market is a major consumer with the highest usage in furniture and construction industries. In the financial year 2013, U.S. and China shared 37% of the demand. The consumption and revenue generation was witnessed to be high in the APAC region, followed by the Western European region.
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Polyurethane foam is one of the most widely used polymeric foams in the world, finding applications in almost all modern industries. These are made primarily by reacting diisocyanates (MDI or TDI) with polyols and other chemicals. Polyurethane occurs in mainly two forms - Polyurethane foams and Polyurethane non foams. These are classified on the basis of their commercially available forms such as flexible polyurethane foams and rigid polyurethane foams. Flexible foams are used mainly as a cushioning material in transportation, bedding & furniture, packaging, etc. whereas, rigid foams are used primarily as an insulation material in construction and refrigeration applications.
The global market is driven by the diverse range of applications for polyurethane foams in multiple industries. An increasing R&D effort has made it highly resourceful and generated huge demand especially in the furniture sector, which finds its usefulness in a myriad of applications, such as bedding, mattresses, carpet underlays, and cushioning. Environmental regulations from different industry sectors, such as plastic, automotive, building & construction, furniture & bedding, electronics, packaging, and other sectors facilitates the growth of the market. The growing demand from the automotive and electronic appliances markets is notable in key countries at global levels.
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The Global Polyurethane market is segmented by Application (Foams-Rigid and Flexible, Adhesives and Sealants, Coatings, Elastomers, and others), By industry ( Furniture and Interiors, Constructions, Automotive and others), by geography (North America, South America, Europe, Asia-Pacific and Middle East & Africa). The Key players in the market are BASF SE, Bayer, Dow Chemicals, Nippon Polyurethane Industry, Chemtura Corp.
Divers:
There is a growing demand from the bedding, cushioning and carpeting industry, a growing demand from the construction industry and these products are preferred as they are recyclable.
Restraints:
There is a strong competition from the fiberglass and polystyrene industries.
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