Polyurethane Elastomer Market Bonded to a Striking Growth by 2030; Asserts MRFR

Pune, India, December, 2017/MRFR Press Release/- Market Research Future Published a Half-Cooked Research “Global Polyurethane Elastomer Market Research Report - Forecast to 2030” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2030.    

Polyurethane Elastomer Market – Market Overview

Polyurethane is traditionally produced by reacting polyisocyanate with a polyol which are broadly used in applications such as automotive, building & construction, electronic appliances, coatings and footwear. Polyurethane elastomer is artificial rubber which are broadly classified as thermosetting elastomer and thermoplastic elastomer. Based on its properties, thermosetting polyurethane elastomer is marketed on large scale compared to thermoplastic based polyurethane elastomer. These rubbers exhibit properties of rubber such as high strength and elasticity, thereby, sustaining high loads. Thermoplastic polyurethane (TPU) elastomer industry is witnessing substantial growth on account of its properties such as low weight, resistance to heat, abrasion and excellent low temperature flexibility which in turn is used in various end use industries such as automotive, medical and building & construction. The other application of polyurethane elastomer can be found in manufacturing various products such as high resilience foam and insulation panels, gaskets and foam seals, wheels of roller coaster, surface coatings, sealants, and hoses among others.

Polyurethane elastomer has excellent durability, impact resistance, high mechanical strength and soft touch owing to which it is used in numerous applications such as automotive, footwear and packaging. Automotive industrial application is anticipated to witnessed positive growth owing to rise in consumer spending on luxurious products along with change in standard of living. Growing infrastructural development for economic stability in emerging countries such as China, India, Brazil and Indonesia are also anticipated to drive the market growth. Further, the durability and flexibility of polyurethane elastomer made it the most preferred material in making footwear. Moreover, Food and Drug Administration (FDA) removed restriction on usage of polyurethane in medical equipment’s and food items which in turn, expected to open new opportunity for polyurethane elastomer market players.

 However, rising concern over high VOC emission and government regulations has restrict the overall market growth. In addition, volatility in raw material prices and increasing research and development of environmental friendly products are some of the challenges faced by manufacture. Shift towards green or biodegradable elastomer are providing lucrative opportunity. Consequently, cost effectiveness and superior properties would benefit the overall market growth over the forecast period.

Rapid industrialization and urbanization along with low labor cost has led the Asia Pacific region as strong potential region in global polyurethane elastomer market. China and India are leading countries owing to increasing demand of polyurethane elastomer in automotive and construction industry. China witnessed strong growth owing to relocation of key players in this market to capture huge market share with favourable government policies. Infrastructural development with modern structure and technology in emerging markets are anticipated to propel the polyurethane elastomer market. Apart from construction industry, the automobile industry is constantly flourishing with the leading players in automotive market setting up their operations in this region. Europe is another substantial market in the global polyurethane elastomer market. Germany and UK are leading countries in European regions on account of large automotive hub. The developed countries in this region are taking up the reconstruction activities to further develop its existing physical infrastructure which driving the demand of polyurethane elastomer market. Moreover, Middle East & Africa is anticipated to witnessed high demand of polyurethane elastomer in construction industry on account of rise in income level and growing expenditure on interior of buildings.

Key Players:

BASF SE (Germany), Bayer MaterialScience (Germany), Bsw Gmbh (Germany), The Dow Chemical Company (U.S.), DuPont (U.S.), Lyondellbasell Industries N.V. (Netherlands), 3M (U.S.), KINGFA SCI. &TECH. CO., LTD. (China), Accella Polyurethane Systems (U.S.), and P+S Polyurethane-Elastomere GmbH & Co. KG (Germany) among others are some of the prominent players at the forefront of competition in the Global Polyurethane Elastomer Market and are profiled in MRFR Analysis.

Polyurethane Elastomer Market – Competitive Analysis

Polyurethane elastomer market is fragmented market with tier 1 and tier 2 companies dominating the overall market. The companies like BASF, Covestro and The Dow (DuPont) Chemical company are adopting key strategy like partnerships and agreements in order to reduce gap between supplier and manufacturer of polyurethane. Apart from that, various key strategies adopted by key players are expansion, acquisition and product launch. Advancement in technology and increasing presence of significant players has positively impact the growth of polyurethane elastomer market.Get Full Information about this Report: Polyurethane Elastomer Market

Industry/ Innovation/ Related News:

November 06, 2017–BASF expands Cellasto capacity at Dahej plant, India and cease thermoplastic polyurethane (TPU) manufacturing plant. Cellasto is the trade name for components made of cellular polyurethane elastomer used successfully in suspension system to reduce noise in automotive vehicle. This expansion strengthens the BASF automotive sector and allow the company to focus more into supplying value-added products in South Asia market.

November 06, 2017–DowDuPont entered into agreement with H&S Anlagentechnik (Germany Based) to develop a market for recycled polyols. Dow polyurethane, a business unit of DowDuPont materials science division cater to various application segments such as automotive, building & construction, packaging and footwear among others. The recycled polyols are manufactured through end of-life mattresses. European bedding industry is also facing huge competition due to technology advancement and growing small regional players. European Commission’s 2015 Circular Economy Package comprise of waste management targets for reuse, recycle and landfilling along with strengthening provisions for waste management. With development in recycled polyol products, Dow will provide opportunity for efficient and innovative resources in bedding industry.

November 06, 2017 – Covestro is leading player in polyurethane market, has expanded its global capacity of polyurethane dispersions in around the world. They had started new production facility for water based polyurethane dispersions at Dormage site. Currently, company expanded production in Barcelona to meet growing demand of elastomer in European region. Moreover, resuming facility in United States and completing production in China with modern facilities are boosting the revenue of company to next level.

June 07, 2017 – AkzoNobel (global leader in Polyurethane Elastomer) expanded coating research facility in Houston, Texas. This expansion would help the company to meet regulatory trends and expand the product portfolio.