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The factors such as increasing demand for light-weight, high performance, and durable Products in the automotive, electronics, and construction industries are expected to boost the market growth.
JERSEY CITY, N.J. , Jan. 11, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Polyurethane Market" By Product (Coatings, Adhesives And Sealants, Flexible Foam, Rigid Foam, Elastomers), By Application (Construction, Automotive, Furniture), and By Geography. According to Verified Market Research, the Global Polyurethane Market size was valued at USD 66.37 Billion in 2020 and is projected to reach USD 119.08 Billion by 2028, growing at a CAGR of 6.72% from 2021 to 2028.
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The factors such as increasing demand for light-weight, high performance, and durable products in the automotive, electronics, and construction industries are expected to boom the market growth. The MDI and TDI can be mixed with polyols in various types of methods to form rigid, semi-rigid, flexible, hard, and soft polyurethane. It is characterized by an ability to mold in the various forms that make it capable of the wide variety of end-use industries. In order to enhance the efficiency of fuel in the vehicles, the manufacturers are shifting the focus towards the plastics in automotive components, such as exterior panels, instrument panels, engine cabins, and automotive interiors. The change in demand, coupled with growing automotive production, is expected to further fuel the demand.
In addition, the increasing application of the material in the building and construction industry with the variety of commercial, household, and industrial applications is fueling the market growth. With the increasing building codes that promote the use of energy-efficient structures, home builders and consumers that builds strategies and deliver strong performance and eco-friendly solutions for the long run. Moreover, an upsurge in the use of innovative production technologies for polyurethane with advanced characteristics is expected to have a positive impact on market growth.
The major players in the market are BASF SE, Mitsui Chemicals, Inc., Covestro, Huntsman Corp., The Dow Chemical Company, Eastman Chemical Co., Recticel S.A., Mitsubishi Chemical Corp., Woodbridge Foam Corp., and Nippon PU Industry Corp. Ltd.
Verified Market Research has segmented the Global Polyurethane Market On the basis of Product, Application, and Geography.
Polyurethane Foam Market By Density Composition (Low-Density Polyurethane Foams, High-Density Polyurethane Foams), By Type (Flexible Foams, Rigid Foams, Spray Foams), By End-User (Electronics, Automotive, Packaging), By Geography, Forecast, 2021-2028
Construction Adhesives Market By Technology (Waterborne Technology, Reactive Technology, Solvent-borne Technology), By Resin Type (Acrylic Adhesive, Polyurethane (PU), Polyvinyl Acetate (PVA), Epoxy), By End-Use Sector (Residential, Non-Residential, Infrastructure), By Geography, Forecast, 2021-2028
Microcellular Polyurethane Foam Market By Product (Low-Density Foam and High-Density Foam), By Application (Automotive, Building & Construction, Electronics), By Geography, Forecast, 2021-2028
Polyurethane Dispersions Market By Type (Low Solvent, Solvent-free), By Application (Paints & Coatings, Adhesive & Sealants, Fiber Finishing), By Geography, Forecast, 2021-2028
Top Rigid Plastic Packaging Companies strictly adhering to international 3Rs initiative
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