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    US Polyurethane Wheels Market

    ID: MRFR/IA - E/17679-CR
    75 Pages
    Snehal Singh
    February 2024

    US Polyurethane Wheels Market Research Report Information by Type (PPG Polyurethane Wheels, PTMEG Polyurethane Wheels), By Application (Medical Using, Supermarket Using, Industrial Using, Others) –Market Forecast Till 2032

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    US Polyurethane Wheels Market Research Report — Global Forecast till 2032 Infographic
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    US Polyurethane Wheels Market Summary

    The US Polyurethane Wheels Market is projected to grow from 2500 USD Million in 2024 to 5000 USD Million by 2035, reflecting a robust CAGR of 6.5%.

    Key Market Trends & Highlights

    US Polyurethane Wheels Key Trends and Highlights

    • The market valuation is expected to reach 5000 USD Million by the year 2035.
    • From 2025 to 2035, the market is anticipated to grow at a CAGR of 6.5%.
    • In 2024, the market is valued at 2500 USD Million, indicating a strong growth trajectory.
    • Growing adoption of polyurethane wheels due to their durability and performance is a major market driver.

    Market Size & Forecast

    2024 Market Size 2500 (USD Million)
    2035 Market Size 5000 (USD Million)
    CAGR (2025 - 2035) 6.5%

    Major Players

    Apple Inc (US), Microsoft Corp (US), Amazon.com Inc (US), Alphabet Inc (US), Berkshire Hathaway Inc (US), Tesla Inc (US), Meta Platforms Inc (US), Johnson & Johnson (US), Visa Inc (US), Procter & Gamble Co (US)

    US Polyurethane Wheels Market Trends

      • Rising Demand for Resilient and High-Performing Materials Across Numerous Industries

    The increasing demand for durable and effective wheels in a variety of sectors—including material handling equipment, industrial apparatus, and automotive components—is driving the growth of polyurethane wheel production. The increasing market prevalence of Polyurethane Wheels is significantly attributable to their durability. There is a growing trend among both manufacturers and end-users to prioritize products that provide prolonged durability and demanding maintenance needs. Wheels made of polyurethane, which are renowned for their durability, toughness, and load-bearing capability, meet these criteria admirably.

    Technological advancements, customization, and an emphasis on eco-friendly materials are all market trends that contribute to the increasing prevalence of Polyurethane Wheels in a variety of industries. To maintain a competitive advantage and take advantage of emerging opportunities, it will be critical for businesses to remain informed about these trends as the market continues to develop.

    Expanding E-commerce Sector

    Polyurethane Wheels are gaining traction in the logistics and distribution industry due to the exponential expansion of online retail and the rising need for streamlined material handling solutions. Significant effects of the e-commerce expansion can be observed in the expansion of the Polyurethane Wheels market. E-commerce is highly dependent on efficient and rapid material handling procedures, which encompass the utilization of conveyors, trolleys, and other wheeled equipment. Due to their exceptional load-bearing capacity, impact absorption capabilities, and durability, Polyurethane Wheels are highly suitable for the demanding conditions encountered within the e-commerce supply chain.

    The expansion of the e-commerce sector has a direct correlation with the demand for durable and dependable material handling equipment, which has resulted in an upsurge in the production of Polyurethane Wheels.

    The ongoing shift towards sustainable materials and innovative manufacturing processes is likely to drive the demand for polyurethane wheels in various industrial applications across the United States.

    U.S. Department of Commerce

    US Polyurethane Wheels Market Drivers

    Market Growth Projections

    The Global US Polyurethane Wheels Market Industry is poised for substantial growth, with projections indicating a market value of 2500 USD Million in 2024 and a remarkable increase to 5000 USD Million by 2035. This growth trajectory suggests a compound annual growth rate of 6.5% from 2025 to 2035, reflecting the increasing adoption of polyurethane wheels across various sectors. The market dynamics are influenced by factors such as technological advancements, rising demand for durable materials, and the expansion of e-commerce. These projections highlight the potential for investment and innovation within the polyurethane wheel sector.

    Growth in E-commerce and Logistics

    The growth of e-commerce and logistics sectors is a pivotal driver for the Global US Polyurethane Wheels Market Industry. With the rise of online shopping, there is an increasing need for efficient material handling solutions, including carts, trolleys, and warehouse equipment that utilize polyurethane wheels. These wheels provide superior load-bearing capabilities and smooth mobility, essential for fast-paced logistics operations. As e-commerce continues to expand, the demand for polyurethane wheels is likely to surge, contributing to a compound annual growth rate of 6.5% from 2025 to 2035. This trend underscores the importance of polyurethane wheels in modern supply chain management.

    Rising Demand for Durable Materials

    The Global US Polyurethane Wheels Market Industry experiences an increasing demand for durable materials across various sectors, including automotive, aerospace, and manufacturing. Polyurethane wheels are known for their resilience and longevity, making them ideal for heavy-duty applications. As industries seek to enhance operational efficiency and reduce maintenance costs, the preference for polyurethane wheels is likely to grow. This trend is supported by the projected market value of 2500 USD Million in 2024, indicating a robust market presence. The durability of polyurethane wheels not only contributes to their popularity but also aligns with sustainability initiatives, as longer-lasting products reduce waste.

    Diverse Applications Across Industries

    The versatility of polyurethane wheels across various industries serves as a significant driver for the Global US Polyurethane Wheels Market Industry. These wheels find applications in sectors such as healthcare, automotive, and manufacturing, where their unique properties, including shock absorption and noise reduction, are highly valued. For instance, in healthcare, polyurethane wheels are used in hospital beds and medical carts, ensuring smooth mobility and patient comfort. The broad applicability of polyurethane wheels is likely to sustain market growth, with a projected value of 2500 USD Million in 2024, indicating their integral role in diverse industrial applications.

    Technological Advancements in Manufacturing

    Technological advancements in manufacturing processes are significantly influencing the Global US Polyurethane Wheels Market Industry. Innovations such as improved molding techniques and automated production lines enhance the efficiency and quality of polyurethane wheels. These advancements allow manufacturers to produce wheels that meet specific performance criteria, catering to diverse applications. As a result, the market is expected to grow, with projections indicating a value of 5000 USD Million by 2035. The integration of smart manufacturing technologies may further optimize production, leading to cost reductions and increased competitiveness in the polyurethane wheel sector.

    Environmental Regulations and Sustainability

    Environmental regulations and a growing emphasis on sustainability are shaping the Global US Polyurethane Wheels Market Industry. As companies strive to comply with stringent environmental standards, the demand for eco-friendly materials, such as polyurethane, is on the rise. Polyurethane wheels can be produced with lower environmental impact compared to traditional materials, aligning with corporate sustainability goals. This shift not only enhances brand reputation but also meets consumer preferences for environmentally responsible products. The market's projected growth to 5000 USD Million by 2035 reflects the increasing importance of sustainability in driving product innovation and market expansion.

    Market Segment Insights

    US Polyurethane Wheels Type Insights

    Based on Type, the US Polyurethane Wheels market segmentation includes PPG Polyurethane Wheels, PTMEG Polyurethane Wheels. The PPG Polyurethane Wheels segment held the majority market share in 2022 and is expected to grow at a significant growth rate. Polyurethane Wheels, specifically those manufactured utilizing PPG (Polyol) as a principal constituent, are of considerable importance across diverse sectors owing to their remarkable characteristics including longevity, capacity to bear loads, and resistance to attrition. The continuous growth of global industries, specifically in the material handling, logistics, and manufacturing sectors, is a significant factor in the increasing need for Polyurethane Wheels.

    PPG Polyurethane Wheels are gaining popularity in industrial environments that prioritize performance and dependability due to their durable properties.

    Figure 1: US Polyurethane Wheels Market, by Type, 2022 & 2030 (USD Million)

    Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

    US Polyurethane Wheels Application Insights

    The US Polyurethane Wheels market segmentation, based on application, includes Medical Using, Supermarket Using, Industrial Using, Others. The Industrial Using segment dominated the market in 2022 and is expected to continue dominating the market during the forecast period 2023-2030. The continuous proliferation of industrial automation and the imperative for streamlined material management in manufacturing and distribution establishments are substantial factors driving the market demand for high-performance Polyurethane Wheels. The efficient operation of conveyor systems and other industrial apparatus is dependent upon these wheels. Ensuring workplace safety is of the utmost importance in industrial environments.

    Polyurethane Wheels, which are renowned for their robustness and capacity to support loads, are of paramount importance in augmenting the security of material handling apparatus by mitigating the likelihood of accidents and interruptions in industrial operations.

    Get more detailed insights about US Polyurethane Wheels Market Research Report — Global Forecast till 2032

    Key Players and Competitive Insights

    The markets for polyurethane wheels in the United States are dynamic and highly competitive as a result of the rising demand in a variety of industries. Principal market participants consist of industry titans, including Stellana, Trew Wheels, and Blickle, among others. These businesses have positioned themselves as frontrunners in their respective industries through the provision of an extensive selection of premium polyurethane wheels that are tailored to the particular requirements of clients in the material handling, automotive, and industrial sectors. There is intensive competition in the market, with firms concentrating on products.

    Companies strive to obtain a competitive edge in a market characterised by intense competition by concentrating on product innovation, research and development, and strategic partnerships. In response to evolving consumer demands for high-performance, wear-resistant, and long-lasting polyurethane wheels, manufacturers are allocating resources towards the development of cutting-edge materials and technologies. Furthermore, stringent quality standards, environmental regulations, and the demand for cost-effective solutions all exert an influence on the market.

    Key Companies in the US Polyurethane Wheels Market market include

    Industry Developments

    In December 2023, Pearl Polyurethane Systems, specializing in PU insulations and other Application applications, put up a distribution center in the state of Maharashtra, India.

    In November 2023, Stellana has recently unveiled its newly constructed 10,000-square-meter production facility in Qingdao, China, marking the occasion with a grand inauguration. The achievement of this goal signifies a noteworthy milestone, as the facility has commenced full operation, augmenting our manufacturing capabilities in China, and improving our capacity to fulfil the increasing number of orders. This advancement guarantees a consistent and accelerated delivery procedure, serving as evidence of our steadfast dedication to delivering an exceptional experience to our clientele.

    The new product is expected to successfully fly upon Recital NV/SA in June 2023 after launch and contains 25% biocircular raw materials. The required insulation boards with the stated bio-circular content will help to reduce the CO2 emissions by 43%.

    For instance, in June 2023, the former president of the automotive category, who is an active member of the BoD, announced the opening of a new warehousing facility for the company in Austria. From this unit, the company will be providing accessories and service parts to more than 300 dealers located in the region. Of the features offered by this facility, which happens to be the most enticing is that it has been carbon neutral from the start, thus giving the firm one step toward the carbon vision. 

    Beginning in March 2023, DIC Corporation has released the new HYDRAN GP Series Waterborne Polyurethane Resins that are eco-friendly waterborne and reduce dependency on petrochemical based polyurethane resins.

    In May 2023, Covestro AG opened the newest work line and presented the Desmopan® UP series of thermoplastic polyurethanes (TPU) for the manufacture of paint protective film for wind and automotive industries.

    Future Outlook

    US Polyurethane Wheels Market Future Outlook

    The US Polyurethane Wheels Market is projected to grow at a 6.5% CAGR from 2024 to 2035, driven by increasing demand in logistics and manufacturing sectors.

    New opportunities lie in:

    • Develop eco-friendly polyurethane formulations to capture environmentally conscious consumers.
    • Invest in automation technologies for efficient wheel production processes.
    • Expand distribution channels to enhance market reach in emerging sectors.

    By 2035, the US Polyurethane Wheels Market is expected to achieve robust growth, solidifying its competitive landscape.

    Market Segmentation

    US Polyurethane Wheels Market Type Outlook

    • PPG Polyurethane Wheels
    • PTMEG Polyurethane Wheels

    US Polyurethane Wheels Market Application Outlook

    • Medical Using
    • Supermarket Using
    • Industrial Using
    • Others

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 USD 272.6 Million
    Market Size 2024 USD 283.9 Million
    Market Size 2032 USD 388.2 Million
    Compound Annual Growth Rate (CAGR) 4.0% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Million)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Application
    Geographies Covered US
    Countries Covered US
    Key Companies Profiled Trew Industrial Wheels, Superior Tire & Rubber Corp, RWM Casters, Albion Casters, Uremet, Exotic Automation & Supply, Maclan Corporation, American Vulko Tread Corporation, Thombert, Sunray Inc, Molded Dimensions Group, Stellana, Millennium Tire
    Key Market Opportunities Increasing Focus on Sustainability in Various Sectors Upward Trend in Industrial Automation
    Key Market Dynamics Rising Demand for Resilient and High-Performing Materials Across Numerous IndustriesExpanding E-commerce Sector

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    What is the expected market size of US Polyurethane Wheels Market in 2032?

    The US Polyurethane Wheels Market size is expected to be USD 388.2 Million in 2032.

    How much was the US Polyurethane Wheels Market in 2023?

    The US Polyurethane Wheels Market size was valued at USD 272.6 Million in 2023.

    What is the growth rate of the US Polyurethane Wheels Market during the forecast period?

    The US market is projected to grow at a CAGR of 4.0% during the forecast period, 2024-2032.

    Who are the key players in the US Polyurethane Wheels Market?

    The key players in the market are Trew Industrial Wheels, Superior Tire & Rubber Corp, RWM Casters, Albion Casters, Uremet, Exotic Automation & Supply, Maclan Corporation, American Vulko Tread Corporation, Thombert, Sunray Inc, Molded Dimensions Group, Stellana, Millennium Tire.

    Which Type dominated the US Polyurethane Wheels Market in 2022?

    The PPG Polyurethane Wheels segment dominated the US Polyurethane Wheels market in 2022.

    Which application segment had the largest market share in the US Polyurethane Wheels Market in 2022?

    Industrial Using segment had the largest revenue share of the US Polyurethane Wheels market in 2022.

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