The Latest Polyurethane Industry Statistics Explained
The global polyurethane market size was valued at USD 79.91 billion in 2020.
The statistic, “The global polyurethane market size was valued at USD 79.91 billion in 2020,” refers to the total worth of the market for polyurethane products worldwide in the year 2020. This value represents the combined revenue generated from the production, sale, and consumption of polyurethane materials across various industries and sectors globally. The market size provides insight into the economic significance and scale of the polyurethane industry, illustrating its importance and impact on the overall global economy. Analyses of market size data help businesses, policymakers, and investors make informed decisions about market trends, opportunities for growth, and potential challenges within the polyurethane industry.
The polyurethane market is expected to grow at a CAGR of over 4% during the forecast period of 2021-2026.
This statistic indicates that the polyurethane market is projected to experience a Compound Annual Growth Rate (CAGR) of over 4% between the years 2021 and 2026. This growth rate is an average annual growth rate that provides insight into the steady increase expected in the market size over the specified time frame. A CAGR of over 4% suggests that the polyurethane industry is anticipated to expand at a moderate pace, with potential opportunities for businesses operating within this sector to capitalize on the market growth during the forecast period.
Flexible foam dominated the market and is expected to grow during the forecast period, owing to the increasing applications in the furniture and bedding sector.
This statistic indicates that flexible foam is currently the leading material in the market and is projected to further increase its market share in the upcoming forecast period. This growth can be attributed to the rising demand for flexible foam in the furniture and bedding sector, where it is extensively used due to its properties such as comfort, durability, and versatility. The increasing applications of flexible foam in these industries suggest a growing preference for this material among consumers and manufacturers, driving its market dominance and expected continued growth in the near future.
Asia-Pacific region dominated the market across the world, with the largest consumption from countries, such as China and India.
The statistic indicates that the Asia-Pacific region has the highest level of consumption in the global market, with a significant portion coming from countries like China and India. This dominance suggests that these countries and others in the region play a crucial role in driving demand and shaping trends in various industries. Factors such as population size, economic growth, and changing consumer preferences likely contribute to the high consumption levels in this region. Companies operating in these markets may need to tailor their strategies to meet the specific needs and preferences of consumers in the Asia-Pacific region to capitalize on the substantial market opportunities available.
The construction industry was the largest end-user segment for the polyurethane market in 2017.
This statistic indicates that in 2017, the construction industry was the primary consumer of polyurethane products, making it the largest end-user segment for the polyurethane market. Polyurethane is a versatile material used in various construction applications such as insulation, sealants, adhesives, and coatings due to its durability, insulation properties, and versatility. The high demand from the construction industry suggests a significant reliance on polyurethane products for building and infrastructure projects, highlighting the importance of polyurethane within the construction sector and its impact on the overall market dynamics in 2017.
Rigid foam polyurethane was the largest product category in 2017, accounting for over 30% of global volume.
The statistic provided indicates that in the year 2017, rigid foam polyurethane emerged as the dominant product category in the global market, constituting more than 30% of the total volume. This suggests that rigid foam polyurethane was widely utilized and in high demand across various industries and applications compared to other products within the sector. The significant market share held by rigid foam polyurethane may be attributed to its versatile properties, such as excellent insulation capabilities, lightweight structure, and durability, making it a preferred choice for insulation, construction, automotive, and other sectors. This statistic highlights the prominence and significance of rigid foam polyurethane in the global market landscape during the specified period.
The largest application area of polyurethane is into furniture and interiors sector which accounted for 27.6% of the market share in 2019.
The statistic indicates that the furniture and interiors sector is the biggest consumer of polyurethane, making up 27.6% of the total market share in 2019. This suggests that polyurethane is widely utilized in this sector, likely due to its versatility, durability, and cost-effectiveness in furniture manufacturing and interior design. The significant market share also implies that the demand for polyurethane in the furniture and interiors industry is substantial, indicating a strong presence and preference for this material in the market. This statistic underscores the importance of the furniture and interiors sector as a key driver of the polyurethane market, highlighting the critical role of polyurethane in these applications.
Demand for Polyurethane in the automotive industry is expected to register a CAGR of around 4% till 2024.
This statistic indicates that the demand for polyurethane within the automotive industry is projected to grow at a Compound Annual Growth Rate (CAGR) of approximately 4% until the year 2024. This suggests that there is expected to be a steady increase in the usage of polyurethane materials in the production of automotive components over the specified period. The growth rate of 4% implies a consistent annual expansion in the demand for polyurethane within the automotive sector, reflecting a positive trend in market demand for this material for applications such as insulation, cushioning, and structural components in vehicles.
Thermoplastic polyurethane (TPU) was a smaller but faster-growing market, projected to grow at a CAGR of 6.8% from 2018 to 2025.
The statistic indicates that the market for thermoplastic polyurethane (TPU) is smaller in size compared to other markets, but it is experiencing rapid growth. The compound annual growth rate (CAGR) of 6.8% projected for TPU from 2018 to 2025 suggests that the demand for TPU is expected to steadily increase over this period. This growth rate indicates a positive trend in the market for TPU products, implying that there is a growing demand for these materials, likely driven by factors such as their versatility, durability, and wide range of applications across industries such as automotive, electronics, and footwear. Overall, this statistic highlights the potential opportunities for businesses operating in the TPU market to capitalize on this growth trend and expand their market presence.
In 2019, Europe stood at USD 19.40 billion in the polyurethane market share and will witness substantial growth in the forthcoming years.
The statistic provided states that in 2019, Europe held a market share of USD 19.40 billion in the polyurethane market and is expected to experience significant growth in the coming years. This indicates that the polyurethane industry in Europe was a sizeable market in 2019, with a considerable financial value. The projected substantial growth suggests that there are favorable conditions or factors in place that are likely to drive expansion in the industry, such as increasing demand, technological advancements, or regulatory changes. This forecasted growth may present opportunities for companies operating in the polyurethane market in Europe, as they strive to capitalize on the expanding market and potentially increase their market share further.
The automotive industry’s polyurethane applications include seating, suspension system, interior headliner, and door panels.
The statistic highlights the prominent use of polyurethane in various applications within the automotive industry. Specifically, polyurethane is utilized in seating, suspension systems, interior headliners, and door panels, indicating its versatility and importance in manufacturing vehicles. Polyurethane is a durable and flexible material that can enhance the comfort, performance, and aesthetics of these components in automobiles. Its widespread adoption in these crucial automotive applications underscores the material’s ability to meet the industry’s stringent requirements for reliability, longevity, and quality.
Every year in the U.S., approximately 12 billion pounds of polyurethane is produced.
The statistic that approximately 12 billion pounds of polyurethane is produced in the U.S. each year indicates a significant manufacturing output of this versatile polymer material. Polyurethane is commonly used in a wide range of products and applications, such as foams, coatings, adhesives, and sealants, due to its durability, flexibility, and insulation properties. The high production volume suggests a strong demand for polyurethane-based products across industries such as construction, automotive, furniture, and packaging. This statistic underscores the pivotal role that polyurethane plays in the U.S. economy and highlights its importance as a key material in various manufacturing processes and everyday products.
The automotive sector’s share of the total US finished polyurethane market is approximately 30%.
This statistic indicates that the automotive sector accounts for roughly 30% of the entire US market for finished polyurethane products. Polyurethane is a versatile polymer material used in various applications, and its use within the automotive industry suggests a significant demand for this sector compared to other industries. The 30% share suggests that automotive manufacturers are key consumers of finished polyurethane products in the US, highlighting the importance of the automotive industry as a major player in the polyurethane market and indicating potential opportunities for growth or investment in this specific sector of the market.
Brazil, Russia, India, and China (BRIC countries) are expected to observe the fastest growth rates in polyurethane demand.
The statistic indicates that the BRIC countries – Brazil, Russia, India, and China – are forecasted to experience significant growth in the demand for polyurethane in the near future. This suggests that there is a growing market for polyurethane products within these countries, driven likely by factors such as industrial development, increasing urbanization, and rising consumer demand for products made with polyurethane. The anticipated fast growth rates in polyurethane demand in the BRIC countries could present opportunities for businesses within the polyurethane industry to expand their operations, invest in these markets, and capitalize on the growing demand for their products in these emerging economies.
Polyurethane coatings market size exceeded $18 billion, globally in 2019 and is estimated to grow at over 5% CAGR between 2020 and 2026.
The statistic highlights that the global market size for polyurethane coatings surpassed $18 billion in 2019 and is projected to experience a compound annual growth rate (CAGR) exceeding 5% from 2020 to 2026. This indicates a strong and steady expansion in the demand for polyurethane coatings across various industries such as automotive, construction, and manufacturing. Factors contributing to this growth may include increasing urbanization, infrastructure development, and the rising preference for high-performance and durable coatings. The forecasted CAGR signifies sustained market growth and business opportunities for companies operating in the polyurethane coatings industry over the specified period.
The US polyurethane market, the largest in North America, is driven by various applications in the bedding & furniture, building & construction, and automotive industries.
The statistic highlights the significance of the polyurethane market in the United States within the North American region. The market’s prominence is attributed to its extensive utilization across diverse sectors, namely bedding & furniture, building & construction, and automotive industries. Polyurethane products are integral in these industries due to their versatile properties including durability, insulation, and light weight. The high demand for polyurethane in these sectors reflects its critical role in enhancing product performance and efficiency. The market’s robust growth is influenced by technological advancements, changing consumer preferences, and economic factors, making it a key player in driving innovation and development across various industries in the US.
In terms of volume, the global polyurethane market is expected to reach 22,838.5 kilotons by 2020.
The statistic indicates that the global polyurethane market is forecasted to grow significantly in terms of volume, reaching 22,838.5 kilotons by the year 2020. This suggests a substantial increase in the production and consumption of polyurethane-based products worldwide. Such growth may be attributed to various factors such as increasing demand for polyurethane in industries like construction, automotive, furniture, and packaging due to its versatile properties, including durability, flexibility, and insulation. The projection of this volume indicates a positive outlook for the polyurethane market and reflects the ongoing expansion and utilization of polyurethane materials across different sectors on a global scale.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.fortunebusinessinsights.com
2. – https://www.www.bccresearch.com
3. – https://www.www.ihs.com
4. – https://www.www.gminsights.com
5. – https://www.www.marketsandmarkets.com
6. – https://www.www.mordorintelligence.com
7. – https://www.polyurethane.americanchemistry.com
8. – https://www.cen.acs.org
9. – https://www.www.prnewswire.com
10. – https://www.www.globenewswire.com
