Polyurethane Additive Market Analysis

Global Polyurethane Additives Market Overview

Polyurethane Additives Market Size was valued at USD 2.67 billion in 2023. The Polyurethane Additives market industry is projected to grow from USD 2.85 billion in 2024 to USD 4.51 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2024 - 2032). The increased demand for polyurethane additives in the rapidly growing construction sector would expand the market growth in the coming years. Thus, this is anticipated to be the key market driver enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polyurethane Additives Market Trends

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  Increased demand for Polyurethane polymers is driving the market growth

  
  

Polyurethane polymers are enhanced and given an overall performance boost by the addition of chemical substances referred to as polyurethane additives contributing in market CAGR. It improves characteristics of the polymer like greater insulation and other characteristics, as well as factors that affect processing speed and the polymer's stability. The properties of binders, sealants, elastomers, varnishes, and adhesives are improved by their sparing use. They contribute to improving the polymer's properties, which has an impact on both the stability and speed of processing. The remarkable performance of polyurethane foams is enhanced by polyurethane additives, which also improve the final foam performance. In the presence of appropriate catalysts (tertiary amine catalysts) and additives, polyurethanes are created by reacting a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate/polymeric isocyanate. In addition, a variety of diisocyanates and polyols are further processed to create polyurethanes.

Polyurethanes are utilised in the building and construction industry to create high-performance products that are strong but lightweight, perform well, and are versatile and long-lasting. As a result, it is anticipated that the need for polyurethane additives would increase over the coming years due to expansion in the building and construction sector. Over the past few years, North American construction activity has dramatically expanded. The U.S. Census Bureau reports that the federal government of the United States spent $1,369.2 billion on construction-related operations overall in January 2020, an increase of 1.8% from the $1,345.5 billion spent in December 2019. In 2019, the U.S. government spent $977,366 million on private building projects and $328,669 million on public projects.

Polyurethane foams are quickly ignited due to their high cell density. Because of the potential for fire dangers connected with the use of certain polymeric materials, this characteristic restricts their application in locations where they must comply with specific fire rules. This increases the need for cutting-edge novel additives, including flame retardants, to lessen the flammability of polyurethanes. To address the demand for these additives, a variety of flame retardants, including those based on phosphorus-based compounds, organophosphorus, nitrogen, halogen, and phosphorus-halogen, are used. Thus, driving the Polyurethane Additives market revenue.

Polyurethane Additives Market Segment Insights

Polyurethane Additives Type Insights

The Polyurethane Additives market segmentation, based on type includes Antioxidants, Catalysts, Emulsifiers, Stabilizers, Fillers, Flame Retardants, Others. In the market for polyurethane additives in 2022, flame retardants accounted for the biggest share. High-quality polyurethanes are created from them and used in a variety of industries, including construction, automotive, and electronics. As a result, it is anticipated that the market for polyurethane additives will grow during the projected period due to the increased use of flame retardants in the production of polyurethanes.

Polyurethane Additives Applications Insights

The Polyurethane Additives market segmentation, based on application, includes Flexible Foam, Rigid Foam, Coating, Adhesives & Sealants, Others. The market for polyurethane additives, where flexible foam held the greatest market share in 2022, is anticipated to expand at a CAGR of 4.2% from 2023 to 2032. The remarkable performance of polyurethane flexible foam is enhanced by polyurethane additives, which also improve the final foam performance. The additives are used in the production of polyurethane flexible foams to improve the comfort features of mattresses, upholstered furniture, and car interiors.

Polyurethane Additives End-Use Industry Insights

The Polyurethane Additives market segmentation, based on End-Use industry includes Building & Construction, Automotive & Transportation, Furniture, Packaging, Others. In terms of market share for polyurethane additives in 2022, the automotive & transportation industry maintained a 26% majority. Foams, coatings, and elastomers, which are increasingly used in the transportation sector, are created using polyurethane additives such catalysts, surfactants, fillers, and flame retardants. High gloss, durability, scratch resistance, and corrosion resistance are all provided by polyurethane coatings for the exterior of vehicles. In order to boost strength and offer resistance to fog, it is also used to glaze windscreens and windows

Figure1: Polyurethane Additives Market, by End-User Industry,2022&2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polyurethane Additives Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In terms of market share for polyurethane additives in 2022, Asia Pacific had the greatest share (37%). The region's growing demand for polyurethane foams, coatings, elastomers, and adhesives from a variety of end-use industries, including building and construction, transportation, electronics, and packaging, is a major factor driving the market for polyurethane additives.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2:c Polyurethane Additives MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Polyurethane Additives market accounts for the second-largest market share. The growth of important end-use industries like automotive components and construction, particularly in the UK, along with the versatility of polyurethane as a product in new applications and its uses and qualities like sustainability and lightweight are expected to drive polyurethane additive consumption. Further, the German Polyurethane Additives market held the largest market share, and the UK Polyurethane Additives market was the fastest growing market in the European region.

The North America Polyurethane Additives Market is anticipated to grow at a CAGR of over 5%. The largest end-user segment is anticipated to be building and construction, followed by automotive, furniture, and interiors. The market for polyurethane in the area is being driven by the rising use of strong plastics in building. Further, the US Polyurethane Additives market held the largest market share, and the Canada Polyurethane Additives market was the fastest growing market.

Polyurethane Additives Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Polyurethane Additives market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Polyurethane Additives industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Polyurethane Additives industry to benefit clients and increase the market sector. In recent years, the Polyurethane Additives industry has offered some of the most significant advantages to medicine. Major players in the Polyurethane Additives market, attempting to increase market demand by investing in research and development operations are BASF SE (Germany), Covestro AG (Germany), Evonik Industries AG (Germany), Kao Corporation (Japan), Huntsman International LLC (US), Tosoh Corporation (Japan), The Dow Chemical Company (US), Momentive (US), Air Products and Chemicals Inc. (US), Suzhou Xiangyuan Special Fine Chemical Co. Ltd (China).

BASF SE includes a vast variety of chemicals, including solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, fundamental petrochemicals, and inorganic compounds (such Z-Cote). The pharmaceutical, building, textile, and automobile sectors are this segment's most significant clients. The Polyurethanes business of BASF includes a variety of technologies and finished goods. Rigid and flexible foams are frequently used for insulation in the building and appliance industries, furniture, packaging, and transportation. Urethane chemicals are the raw materials used in these products. At a cost of $100 million, BASF erected a brand-new chemical plant in Dahej, Gujarat. For processing crude MDI, this facility contains the first methylene diphenyl diisocyanate (MDI) splitter in South Asia. In India, BASF has 8 production plants. Ultramid, a semi-crystalline polyamide created by BASF SE, allowing light to mostly travel through it unobstructed.

One of the top manufacturers and distributors of premium polymers is Covestro. The company consistently pushes the limits of what is possible with its high-tech materials, improving the quality of life for everyone. The automotive, construction, electrical and electronics, wood, furniture, sports and recreation, and other industries use Covestro's cutting-edge material solutions. Germany's Leverkusen serves as the country's administrative centre for Covestro. Across seven locations throughout Germany, the company employs more than 7,600 employees. Construction and home goods, electrical engineering and electronics, automobile production and supply, and sports and recreation are the main industries supplied. Their offerings include coatings and adhesives, polyurethanes used in thermal insulation, electrical housings, and as a material in shoes and mattresses, polycarbonates like Covestro's Makrolon, which are extremely impact-resistant plastics, and polyurethanes used in coatings and adhesives. The official FIFA World Cup football for 2014 was made of Covestro polyurethane. Prior to 2019, Covestro had quick growth in profitability as a result of chemical shortages needed to make foams.

Key Companies in the Polyurethane Additives market include

• BASF SE (Germany)


• Covestro AG (Germany)


• Evonik Industries AG (Germany)


• Kao Corporation (Japan)


• Huntsman International LLC (US)


• Tosoh Corporation (Japan)


• The Dow Chemical Company (US


• Momentive (US)


• Air Products and Chemicals Inc. (US)


• Suzhou Xiangyuan Special Fine Chemical Co. Ltd (China)

Polyurethane Additives Industry Developments

Dec 2021:  In order to generate value for mattresses and upholstery, Covestro and Eco-Mobilier teamed up to collect and recycle unwanted furniture. Both parties intend to expand the waste markets for foam used in these applications so that it can be used in highly effective industrial chemical recycling processes. Elastollan Thermoplastic Polyurethane (TPU) was introduced by BASF for use in the furniture, automobile, and fashion goods industries.

Nov 2021: Evonik and The Vita Group collaborated to create an effective polyurethane mattress recycling technique.

Polyurethane Additives Market Segmentation

Polyurethane Additives Type Outlook

• Antioxidants


• Catalysts


• Emulsifier


• Stabilizers


• Fillers


• Flame Retardants


• Others

Polyurethane Additives Applications Outlook

• Flexible Foam


• Rigid Foam


• Coating


• Adhesives & Sealants


• Others

Polyurethane Additives End-User Industry Outlook

• Building & Construction


• Automotive & Transportation


• Furniture


• Packaging


• Others

Polyurethane Additives Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America