Mar 20, 2020 SOURCE: BusinessWire

Global Polyurethane Market (2019 to 2023) - Identify Growth Segments for Investment - ResearchAndMarkets.com

The "Polyurethane Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global polyurethane market was worth $ 95.13 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12% and reach $149.91 billion by 2023.

Polyurethane Market Global Report 2020 from the author provides the strategists, marketers and senior management with the critical information they need to assess the global polyurethane (PUR) market.

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The polyurethane market consists of the sales of polyurethane and related services which are used in foams as an insulation material, coatings, adhesives and sealants and an elastomer. Polyurethane refers to form of plastic polymer material which is used to produce modern, versatile and safe consumer and industrial products that are environmental friendly.

Adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding and carpet underlay. Furthermore, with the introduction of advanced manufacturing process, polyurethane form provides more uniform, predictable and durable end products.

For instance, according to American Chemistry Council, it is proven that FPF when compressed by 90% for 22 hours, could recover more than 90% of its original height, which is highly durable than any other form furniture material. Moreover, completely cured polyurethane products are considered to be inert and safe and was concurred by the U.S. EPA (Environmental Protection Agency). The durability, comfort and safety provided by polyurethane continue to be the major reasons for use in the furniture industry, thereby, driving the demand of polyurethane industry going forward.

In November 2018, Covestro, a German-based polymer company, accelerated the expansion of its thermoplastic polyurethanes (TPU) business by raising its stake in the joint venture DIC Covestro Polymer Ltd. (DCP) from 50% to 80%. Both the parties agreed to not disclose any financial details of the transaction. Closing of the deal is planned for early second quarter 2019, subject to the approval from the relevant authorities. The investment is part of Covestro's expansion of its global TPU business. DIC Covestro Polymer Ltd. is a Japan-based supplier of thermoplastic polyurethanes.

Major players in the market are The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals, Inc., DIC Corp, Nippon Polyurethane Industry Corp Ltd., Recticel S.A., Woodbridge Foam Corp.

Key Topics Covered:

1. Executive Summary

2. Polyurethane Market Characteristics

3. Polyurethane Market Size And Growth

3.1. Global Polyurethane Historic Market, 2015 - 2019, $ Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Polyurethane Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Polyurethane Market Segmentation

4.1. Global Polyurethane Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion