Polyurethanes are some among the most flexible and multipurpose polymers today. They are present in different forms and vary from dense solid compositions to rigid foams and from elastomers to flexible foams. Polyurethanes exist commercially in different forms. They also vary from supple lightweight foams to rigid, sturdy and robust elastomers.
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This facilitates their broad utilization across several sectors. These include refrigerators, thermal insulation of buildings, household furniture, shoe soles, automotive seats, etc. Rising demand for polyurethanes across these sectors is predicted to drive the demand for the polyurethanes market.
Outlook And Categories
The worldwide polyurethanes market was predicted at about 13, 650 kilo tons in 2010. It is projected to reach around 17, 946 kilo tons by 2016. With regard to income, the market was likely to have collected around USD 33, 033 million in 2010. It is estimated to garner income of around USD 55, 479 million by 2016. The polyurethanes market is predicted to rise at about 6.8 percent CAGR from 2011 to 2016.
The worldwide market is divided on account of four categories. These include applications, raw materials, consumers and geographies. The applications market is segmented in view of flexible foams, rigid foams, elastomers, coatings, binders, sealants and adhesives and others. Escalated use of polyurethanes across the aforementioned applications is also estimated to increase the demand for the polyurethanes market.
The raw materials market is fragmented on the basis of toluene diisocyanate and methylene diphenyl diisocyanate. The consumer sectors of the market are packaging, footwear, electronic devices, building, interiors and furniture, automotives, etc. Augmented demand for polyurethanes in the above mentioned sectors is also projected to drive the polyurethanes market forward.
The geographies polyurethanes market is segmented on account of Asia Pacific, Europe, rest of the world and North America. Variations in crude oil costs, which have steered the prices of toluene diisocyanate and methyl diphenyl diisocyanate, have been a significant component, negatively affecting the market. On the other hand, further expansion in the consumer industries of electronics and construction is also anticipated to propel the market ahead.
The applications polyurethanes market was leaded by flexible and rigid foams in 2011. These foams occupied maximum share. They jointly captured nearly 65 percent of the market. Modifying living standards, increased disposable incomes and greater demand for furniture have driven the demand for flexible foams. Conversely, augmented investments in electronic devices and infrastructure in China, India and Brazil propel the demand for rigid foams.
The consumers market is dominated by interiors and furniture. Electronic devices are prepared to rise as the most rapidly developing segment during the forecast period. The geographies polyurethanes market is dominated by Asia Pacific. This is on account of increased demand for polyurethanes from different consumer and application markets and rising financial conditions of the region.
Western Europe and North America are the developed regions of the polyurethanes market. They are estimated to rise slowly. Eastern Europe, Asia Pacific and South America are also predicted to steer the sales of the polyurethanes market in the next ten years.
Information Source: Grand View Research