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    Polyurethane Elastomers Market

    ID: MRFR/CnM/3073-HCR
    140 Pages
    Priya Nagrale
    September 2025

    Polyurethane Elastomers Market Research Report Information by Type (Thermoset PU Elastomers and Thermoplastic PU Elastomers), End-Use Industry (Footwear, Automotive, Machinery, Building & Construction and Medical), Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2032

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    Polyurethane Elastomers Market Report - Global Forecast till 2032 Infographic
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    Table of Contents

    Polyurethane Elastomers Market Summary

    As per Market Research Future Analysis, the global polyurethane elastomers market, valued at approximately USD 13 billion in 2024, is projected to grow at a CAGR of about 5.60% from 2024 to 2032. The market is driven by high demand in the footwear industry, particularly due to the athleisure trend, and the automotive sector's need for lightweight materials. Polyurethane elastomers are primarily used in footwear, automotive components, and various industrial applications, with thermosetting elastomers dominating the market. Asia-Pacific is the leading region, holding over 50% market share in 2018, driven by increased consumer spending and a growing automotive industry. Key players include Tosoh Corporation, Dow, BASF SE, and Covestro AG.

    Key Market Trends & Highlights

    The polyurethane elastomers market is witnessing significant growth driven by various factors.

    • Market Valuation in 2024: USD 13 billion.
    • Projected CAGR from 2024 to 2032: 5.60%.
    • Asia-Pacific market share in 2018: over 50%.
    • Key growth driver: High demand in the footwear industry.

    Market Size & Forecast

    Market Size in 2024 USD 13 billion
    Projected CAGR 5.60%
    Largest Regional Market Share in 2018 Asia-Pacific

    Major Players

    Tosoh Corporation (Japan), Dow (US), BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (US), LANXESS (Germany), The Lubrizol Corporation (US), Trelleborg (Sweden), Herikon (The Netherlands), Argonics, Inc (US), VCM Polyurethanes Pvt. Ltd (India)

    Polyurethane Elastomers Market Trends

    The demand for polyurethane elastomers is expected to rise due to their versatility and performance in various applications, particularly in automotive and construction sectors.

    U.S. Department of Commerce

    Polyurethane Elastomers Market Drivers

    Market Trends and Projections

    The Global Polyurethane Elastomers Market Industry is poised for substantial growth, with projections indicating a market value of 13 USD Billion in 2024 and an anticipated increase to 23.7 USD Billion by 2035. The compound annual growth rate is expected to be 5.6% from 2025 to 2035, reflecting the industry's resilience and adaptability. Key trends influencing this growth include advancements in technology, increasing demand from various sectors, and a heightened focus on sustainability. These factors collectively shape the future landscape of the polyurethane elastomers market.

    Increasing Focus on Sustainability

    Sustainability is becoming a central theme within the Global Polyurethane Elastomers Market Industry, as manufacturers seek to minimize environmental impact. The shift towards eco-friendly materials, including bio-based polyurethane elastomers, aligns with global sustainability goals and consumer preferences. This trend is particularly evident in industries such as packaging and automotive, where companies are increasingly adopting sustainable practices. As awareness of environmental issues grows, the demand for sustainable polyurethane elastomers is expected to rise, further propelling market growth and encouraging innovation in material development.

    Rising Demand in Automotive Sector

    The Global Polyurethane Elastomers Market Industry experiences a notable surge in demand from the automotive sector, driven by the need for lightweight and durable materials. Polyurethane elastomers are increasingly utilized in various automotive applications, including seals, gaskets, and interior components. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 13 USD Billion in 2024. As automotive manufacturers prioritize fuel efficiency and performance, the adoption of polyurethane elastomers is likely to expand, thereby enhancing the overall market landscape.

    Growth in Construction Applications

    The construction industry plays a pivotal role in the expansion of the Global Polyurethane Elastomers Market Industry. These materials are favored for their excellent mechanical properties and resistance to environmental factors, making them ideal for applications such as flooring, insulation, and coatings. The increasing focus on sustainable building practices and energy-efficient materials further propels the demand for polyurethane elastomers. As the construction sector continues to evolve, the market is projected to reach 23.7 USD Billion by 2035, reflecting a robust growth trajectory driven by innovative applications and regulatory support.

    Expanding Applications in Healthcare

    The healthcare sector is emerging as a significant driver for the Global Polyurethane Elastomers Market Industry, with applications ranging from medical devices to prosthetics. Polyurethane elastomers are valued for their biocompatibility, flexibility, and durability, making them suitable for various healthcare applications. The increasing demand for advanced medical technologies and devices is likely to boost the market, as manufacturers seek high-performance materials that meet stringent regulatory standards. This trend indicates a promising future for polyurethane elastomers in healthcare, contributing to the overall market growth.

    Technological Advancements in Production

    Technological advancements in the production of polyurethane elastomers are transforming the Global Polyurethane Elastomers Market Industry. Innovations in manufacturing processes, such as improved polymerization techniques and the development of bio-based alternatives, enhance the performance and sustainability of these materials. These advancements not only increase efficiency but also reduce production costs, making polyurethane elastomers more accessible to various industries. As a result, the market is likely to witness a compound annual growth rate of 5.6% from 2025 to 2035, indicating a strong potential for growth driven by continuous innovation.

    Market Segment Insights

    Regional Insights

    Key Companies in the Polyurethane Elastomers Market market include

    Industry Developments

    October 2023: a Seoul private equity firm, Glenwood Private Equity, acquired 100% of SKC’s shares in SK pucore, a producer of poliurethanes. Accordingly, the petrochemical subsidiary of SKC was sold to another private equity firm at KRW 410.3 billion (USD 304.1 million) with an aim to focus on semiconductor and EV battery materials that will drive the PU elastomers market.

    August 2023: Covestro AG has started manufacturing polyurethane elastomer systems in its new plant in Shanghai. The investment is undisclosed (in the double-digit EUR Million range). This is part of a series investments in elastomers raw materials made by the company over the past years with plants located in Thailand and Spain.

    July 2023: Nordmann announced selling polyurethane elastomers produced by Era Polymers from Australia across Germany, Belgium, Holland, Italy, Finland, Sweden and Switzerland. The latter is specialized in developing and producing prepolymer systems for polyurethane elastomers production for the automotive sector, which has spread over six production sites where its capacity reaches more than 400 thousand tons per year.

    In November 2021, Covestro AG intends to build a new plant for PU elastomer systems in Shanghai to meet growing global demand, especially coming from the APAC region. The German supplier’s facility will be part of the integrated site worth EUR 3.5 billion euros located in Shanghai, due to become operational at the beginning of the year two thousand twenty-three.

    Intended Audience

      • Polyurethane elastomers manufacturers
      • Traders and distributors of polyurethane elastomers
      • Research and development institutes
      • Potential investors
      • End users
      • Nationalized laboratories

    Future Outlook

    Polyurethane Elastomers Market Future Outlook

    The Global Polyurethane Elastomers Market is projected to grow at a 5.6% CAGR from 2024 to 2035, driven by advancements in automotive applications, increasing demand for lightweight materials, and innovations in sustainable production processes.

    New opportunities lie in:

    • Develop bio-based polyurethane elastomers to meet rising sustainability demands.
    • Invest in R&D for high-performance elastomers in automotive and aerospace sectors.
    • Expand into emerging markets with tailored solutions for local industries.

    By 2035, the market is expected to achieve substantial growth, reflecting evolving consumer preferences and technological advancements.

    Market Segmentation

    Report Scope

    Attribute/Metric Details
      Market Size  13 Billion
      CAGR   5.60% (2024-2032 )
      Base Year   2023
      Forecast Period   2024-2032
      Historical Data   2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type and End-Use Industry
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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 Polyurethan-Elastomere GmbH & Co. KG (Germany)
      Key Market Opportunities   High demand for polyurethane elastomers in the footwear industry
      Key Market Drivers Increasing active and fitness conscious among the consumers has given rise to the athleisure movement The active consumers are gravitating towards shoes that fit for every occasion

    Market Highlights

    Author
    Priya Nagrale
    Senior Research Analyst

    With an experience of over five years in market research industry (Chemicals & Materials domain), I gather and analyze market data from diverse sources to produce results, which are then presented back to a client. Also, provide recommendations based on the findings. As a Senior Research Analyst, I perform quality checks (QC) for market estimations, QC for reports, and handle queries and work extensively on client customizations. Also, handle the responsibilities of client proposals, report planning, report finalization, and execution

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    FAQs

    With what CAGR, the polyurethane elastomers market is projected to grow during the forecast period of 2022-2030?

    Polyurethane elastomers market has the chance to showcase a 5.60% CAGR during the forecast period covering 2024-2032.

    What was the estimated valuation of the polyurethane elastomers market valuation in 2018?

    The estimated valuation of the polyurethane elastomers market was USD 20.9 Billion

    Which industry can transform the outcome of the polyurethane elastomers market?

    The automotive sector can change the global polyurethane elastomers market as the use of the component is picking up speed.

    What trend could prove advantageous for the polyurethane elastomers market?

    The inclusion of bio-friendly components can be trendy for the polyurethane elastomers market.

    Which region has the upper hand in the polyurethane elastomers market?

    The Asia Pacific market has control of the polyurethane elastomers market.

    1.     Executive Summary    
    2.     Market Introduction
      1.     Market Definition  
      2.     Scope of the Study    
    3.  Assumptions & Limitations
      1.     Market Structure
      2.     Key Takeaways
    4.     Market Insights 
    5.     Research Methodology    
    6.  Research Process    
      1.     Primary Research  
      2.     Secondary Research    
    7.  Market Size Estimation    
      1.     Forecast
    8. Model    
    9.     Market Dynamics 
    10.  Introduction
      1.     Drivers    
    11.  Restraints     
      1.     Opportunities
      2.     Challenges
      3.     Trends  
    12.     Market Factor Analysis  
    13.  Supply Chain Analysis 
      1.     Raw Material Suppliers
        1.     Manufacturers/Producers   
        2.     Distributors/Retailers/Wholesalers/E-Commerce
    14. Merchants
      1.     End-Users    
    15.      Porter’s Five Forces Analysis    
    16.  Threat of New Entrants    
      1.     Intensity
    17. of Competitive Rivalry    
      1.     Threat of
    18. Substitutes    
      1.     Bargaining Power of
    19. Suppliers    
      1.     Bargaining Power of Buyers  
      2.        Pricing Analysis
    20.  Global Polyurethane Elastomers Market, by Type
      1.     Introduction
      2.     Thermoset PU Elastomers
        1. Market Estimates &
    21. Forecast, 2020-2027 
      1. Market Estimates & Forecast, by Region,
      2.     Thermoplastic PU Elastomers
    22.  7.3.1 Market Estimates & Forecast, 2020-2027
      1. Market Estimates
    23. & Forecast, by Region, 2020-2027
    24.     Global Polyurethane
    25. Elastomers Market, by End-Use Industry
      1.     Introduction
      2.     Footwear
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates & Forecast, by Region, 2020-2027
    26.  Automotive
      1. Market Estimates & Forecast, 2020-2027
    27. Market Estimates & Forecast, by Region, 2020-2027
      1.     Machinery
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    28. Forecast, by Region, 2020-2027
      1.     Building & Construction
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    29. Forecast, by Region, 2020-2027
      1.     Medical
        1. Market
    30. Estimates & Forecast, 2020-2027
      1. Market Estimates & Forecast,
    31. by Region, 2020-2027
      1.     Others
        1. Market Estimates
    32. & Forecast, 2020-2027
      1. Market Estimates & Forecast, by Region,
    33.     Global Polyurethane Elastomers Market, by Region
      1.     Introduction
      2.     North America
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    34. Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use
    35. Industry, 2020-2027
      1.     US
        1. Market Estimates
    36. & Forecast, 2020-2027
      1. Market Estimates & Forecast, by Type,
        1. Market Estimates & Forecast, by End-Use Industry, 2020-2027
        2.     Canada
    37. Estimates & Forecast, by End-Use Industry, 2020-2027
      1.     Europe
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    38. Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use
    39. Industry, 2020-2027
      1.     Germany
        1. Market Estimates
    40. & Forecast, 2020-2027
      1. Market Estimates & Forecast, by Type,
        1. Market Estimates & Forecast, by End-Use Industry, 2020-2027
        2.     France
    41. Market Estimates & Forecast, by End-Use Industry, 2020-2027
    42.  Italy
      1. Market Estimates & Forecast, 2020-2027
    43. Market Estimates & Forecast, by Type, 2020-2027
      1. Market Estimates
    44. & Forecast, by End-Use Industry, 2020-2027
      1.     Spain
        1. Market Estimates & Forecast, 2020-2027
    45. & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    46. by End-Use Industry, 2020-2027
      1.     UK
        1. Market
    47. Estimates & Forecast, 2020-2027
      1. Market Estimates & Forecast,
    48. by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use Industry,
        1.     Russia
    49. Forecast, 2020-2027
      1. Market Estimates & Forecast, by Type, 2020-2027
        1. Market Estimates & Forecast, by End-Use Industry, 2020-2027
    50.  Poland
      1. Market Estimates & Forecast, 2020-2027
    51. Market Estimates & Forecast, by Type, 2020-2027
      1. Market Estimates
    52. & Forecast, by End-Use Industry, 2020-2027
      1.     Asia-Pacific
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    53. Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use
    54. Industry, 2020-2027
      1.     China
        1. Market Estimates
    55. & Forecast, 2020-2027
      1. Market Estimates & Forecast, by Type,
        1. Market Estimates & Forecast, by End-Use Industry, 2020-2027
    56.  9.4.5    India
      1. Market Estimates & Forecast,
        1. Market Estimates & Forecast, by Type, 2020-2027
    57. Market Estimates & Forecast, by End-Use Industry, 2020-2027
    58.  Japan
      1. Market Estimates & Forecast, 2020-2027
    59. Market Estimates & Forecast, by Type, 2020-2027
      1. Market Estimates
    60. & Forecast, by End-Use Industry, 2020-2027
      1.     Australia
    61. & New Zealand
      1. Market Estimates & Forecast, 2020-2027
    62. Market Estimates & Forecast, by Type, 2020-2027
      1. Market Estimates
    63. & Forecast, by End-Use Industry, 2020-2027
      1.     Indonesia
        1. Market Estimates & Forecast, 2020-2027
    64. & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    65. by End-Use Industry, 2020-2027
      1.     Rest of Asia-Pacific
        1. Market Estimates & Forecast, 2020-2027
    66. & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    67. by End-Use Industry, 2020-2027
      1.     Middle East & Africa 
        1. Market Estimates & Forecast, 2020-2027
        2. Market Estimates &
    68. Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use
    69. Industry, 2020-2027
      1. Turkey
        1. Market Estimates & Forecast,
    70. Market Estimates & Forecast, by End-Use Industry, 2020-2027
      1. Israel 
        1. Market Estimates & Forecast, 2020-2027
    71. & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    72. by End-Use Industry, 2020-2027
      1. South Africa 
        1. Market
    73. Estimates & Forecast, 2020-2027
      1. Market Estimates & Forecast,
    74. by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use Industry,
        1. GCC
    75. Estimates & Forecast, by End-Use Industry, 2020-2027
      1. Rest of the
    76. Middle East & Africa 
      1. Market Estimates & Forecast, 2020-2027
        1. Market Estimates & Forecast, by Type, 2020-2027
    77. Estimates & Forecast, by End-Use Industry, 2020-2027
      1.     Latin
    78. America
      1. Market Estimates & Forecast, 2020-2027
        1. Market
    79. Estimates & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    80. by End-Use Industry, 2020-2027
      1. Brazil 
        1. Market Estimates
    81. & Forecast, 2020-2027
      1. Market Estimates & Forecast, by Type,
        1. Market Estimates & Forecast, by End-Use Industry, 2020-2027
        2. Argentina 
    82. Estimates & Forecast, by End-Use Industry, 2020-2027
      1. Mexico 
        1. Market Estimates & Forecast, 2020-2027
    83. & Forecast, by Type, 2020-2027
      1. Market Estimates & Forecast,
    84. by End-Use Industry, 2020-2027
      1. Rest of Latin America 
    85. Market Estimates & Forecast, 2020-2027
      1. Market Estimates & Forecast,
    86. by Type, 2020-2027
      1. Market Estimates & Forecast, by End-Use Industry,
    87.     Competitive Landscape
    88.  Introduction
    89.     10.2    Market Strategy
    90. Analysis
      1.      Key Development Analysis 
    91. (Expansions/Mergers
    92. & Acquisitions/Joint Ventures/New Product Developments/Agreements/Investments)
    93.     Company Profiles  
      1.     BASF SE
        1.     Company
    94. Overview
      1.     Financial Overview
    95.  Product/Business Segment Overview
      1.     Key Developments
        1.     SWOT Analysis
        2.     Key Strategies
    96.  11.2     Tosoh Corporation
      1.     Company
    97. Overview
      1.     Financial Overview
    98.  Product/Business Segment Overview
      1.     Key Developments
        1.     SWOT Analysis
        2.     Key Strategies
      2.     Dow
        1.     Company Overview
    99.  Financial Overview
      1.     Product/Business Segment
    100. Overview
      1.     Key Developments
    101.  SWOT Analysis
      1.     Key Strategies
    102.  Huntsman International LLC
      1.     Company Overview
        1.     Financial Overview
        2.     Product/Business
    103. Segment Overview
      1.     Key Developments
    104.  SWOT Analysis
      1.     Key Strategies
    105.  Covestro AG
      1.     Company Overview
    106.  Financial Overview
      1.     Product/Business Segment
    107. Overview
      1.     Key Developments
    108.  SWOT Analysis
      1.     Key Strategies
    109.  LANXESS
      1.     Company Overview
    110.  Financial Overview
      1.     Product/Business Segment
    111. Overview
      1.     Key Developments
    112.  SWOT Analysis
      1.     Key Strategies
    113.  The Lubrizol Corporation    
      1.     Company
    114. Overview
      1.     Financial Overview
    115.  Product/Business Segment Overview
      1.     Key Developments
        1.     SWOT Analysis
        2.     Key Strategies
      2.     Trelleborg
        1.     Company Overview
        2.     Financial Overview
        3.     Product/Business
    116. Segment Overview
      1.     Key Developments
    117.  SWOT Analysis
      1.     Key Strategies
    118.  11.9    Herikon
      1.     Company Overview
        1.     Financial Overview
        2.     Product/Business
    119. Segment Overview
      1.     Key Developments
    120.  SWOT Analysis
      1.     Key Strategies
    121.  11.10    Argonics, Inc 
      1.     Company
    122. Overview
      1.     Financial Overview
    123.  Product/Business Segment Overview
      1.     Key Developments
        1.     SWOT Analysis
        2.     Key Strategies
    124.     11.11    VCM Polyurethanes Pvt. Ltd
    125.  Company Overview
      1.     Financial Overview
    126.  Product/Business Segment Overview
      1.     Key Developments
        1.     SWOT Analysis
        2.     Key Strategies
    127.     12.    Appendix
    128. Market, by Country, 2020-2027  
    129. Elastomers Market, by Country, 2020-2027  
    130. Polyurethane Elastomers Market, by Country, 2020-2027  
    131.  Middle East & Africa: Polyurethane Elastomers Market, by Country, 2020-2027
    132. by Country, 2020-2027  
    133. Elastomers Market, for Type, by Region, 2020-2027  
    134.  North America: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
    135. Type, by Country, 2020-2027  
    136. Polyurethane Elastomers Market, for Type, by Country, 2020-2027  
    137.     Middle East & Africa: Polyurethane Elastomers Market, for
    138. Type, by Country, 2020-2027  
    139. Polyurethane Elastomers Market, for Type, by Country, 2020-2027  
    140.     Global Polyurethane Elastomers Market, for End-Use Industry,
    141. by Region, 2020-2027  
    142. Elastomers Market, for End-Use Industry, by Country, 2020-2027  
    143.     Europe: Polyurethane Elastomers Market, for End-Use Industry,
    144. by Country, 2020-2027  
    145. Elastomers Market, for End-Use Industry, by Country, 2020-2027  
    146.     Middle East & Africa: Polyurethane Elastomers Market, for
    147. End-Use Industry, by Country, 2020-2027  
    148. America: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027 
    149. by Country, 2020-2027
    150. Elastomers Market, by Type, 2020-2027
    151. Polyurethane Elastomers Market, by End-Use Industry, 2020-2027 
    152.     Europe: Polyurethane Elastomers Market, by Country, 2020-2027
    153. Industry, 2020-2027
    154. Market, by Country, 2020-2027
    155. Elastomers Market, by Type, 2020-2027
    156. Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
    157.  Middle East & Africa: Polyurethane Elastomers Market, by Country, 2020-2027
    158. by Type, 2020-2027  
    159. Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
    160.  Latin America: Polyurethane Elastomers Market, by Country, 2020-2027
    161.     Latin America: Polyurethane Elastomers Market, by Type, 2020-2027
    162. Industry, 2020-2027
    163.  Global Polyurethane Elastomers Market Segmentation
    164. Methodology
    165. Polyurethane Elastomers Market
    166. of Global Polyurethane Elastomers Market
    167. Elastomers Market, by Country, 2020 (%)
    168. Elastomers Market, 2020-2027
    169. Type, 2020-2027
    170.  Global Polyurethane Elastomers Market Size, by End-Use Industry, 2020 (%)

    Polyurethane Elastomers Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Polyurethane Elastomers Market Report - Global Forecast till 2032 Infographic
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