Selbyville, Delaware, Oct. 01, 2019 (GLOBE NEWSWIRE) --
The Germany polyurethane market share from automotive applications is predicted to witness more than 3% CAGR up to 2024 as the region is home to some of the major automakers and chemical manufacturers, making it an ideal hub for PU manufacturing as well as end-user sectors.
According to a report by Global Market Insights Inc. the worldwide polyurethanes (PU) market size will cross USD 80 billion by 2024. Growing concerns regarding greenhouse gas (GHG) emissions have led to widespread adoption of sustainable products, steering polyurethanes (PU) market trends. Rising R&D activities in the field coupled with surging awareness regarding energy conservation are offering lucrative growth opportunities for PU manufacturers. The product is witnessing burgeoning demand from several crucial industries such as automotive, furniture and construction.
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Some of the regional polyurethane (PU) market growth drivers are:
1 North America: Growing demand for light weight, high performance materials from automotive industry
2 Europe: Government support for energy efficiency
3 Asia Pacific: Increasing construction spending in Asia Pacific
Rising investments by governments towards infrastructural development along with innovations in bio-used polyurethanes, owing to regulations for the recyclability of materials will, bolster PU consumption over the coming years. Lightweight and high-performance characteristics along with demand from electronic appliances and automotive manufacturers for usage in insulation, seat cushioning and interior trims will drive polyurethanes industry trends.
Polyurethanes market size from automobile sector was pegged at USD 8 billion in 2016 and will register notable growth rate over the coming years. Additionally, support from authorities like Corporate Average Fuel Economy (CAFE) has facilitated vehicle manufacturers who want to investigate and experiment on new routes. In 2014, the total unit sales for the automotive sector were registered at 65 million.
Browse key industry insights spread across 180 pages with 185 market data tables & 30 figures & charts from the report, “Polyurethanes (PU) Market Size By Product (Flexible Foams, Rigid Foam, Adhesives & Sealants, Elastomers, Coatings), By Application (Construction, Automotive, Furniture & Interiors, Electronics, Footwear, Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/polyurethane-PU-market-report
Rigid PU foam market size is projected to record a steady 5% CAGR over 2018-2024 with growing requirements for insulation during construction activities. The cumulative market spending on construction was recorded at USD 8 trillion in the year 2015 and is expected to surpass USD 10 trillion by 2020. Need for reducing thermal energy losses and enhance building energy efficiency are vital factors augmenting global polyurethanes market forecast. High electricity costs and the demand for a reliable power network will positively influence the product demand.
In terms of the application spectrum, PU industry is segmented into construction, furniture and interiors, automotive, footwear, electronics and packaging. Automotive is one of the lucrative application segments and is fueled by rapid urbanization and improved levels of income, due to which the demand for vehicles has increased. Growing automobile applications including exterior panels, instrument panels, seating and engine encapsulation will magnify polyurethanes industry outlook.
It is estimated that automotive polyurethanes industry size will record gains at more than 4% up to 2024.
Regionally, Europe is expected to emerge as a profitable revenue pocket for PU market in the coming years. Expanding demand for insulation from low-income households for enhanced energy efficiency along with stringent need for regulatory compliance will bolster the industry share. Europe polyurethanes market size is projected to exceed USD 20 billion by 2024.
Eminent players comprising the industry’s competitive dynamics include Mitsui Chemicals, British Vita Unlimited, BASF, Dow Chemical Company and Woodbridge Foam Corp, among several others. Robust R&D across the automotive, packaging and electronics sectors will transform customer needs and drive polyurethanes market outlook over the next few years.
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Partial chapters from the table of contents:
Chapter 2 Executive Summary
2.1 Polyurethane market industry 360-degree synopsis, 2018 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
Chapter 3 Polyurethane Market Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.2.1 Collaboration/Partnerships
3.3.2.2 Distributors
3.3.2.3 Technology Providers
3.4 Raw material analysis
3.4.1 Methyl Diphenyl Diisocyanate (MDI)
3.4.2 Toluene Diisocyanate (TDI)
3.5 Regulatory landscape
3.5.1 U.S.
3.5.1.1 Hazard Communication Standard
3.5.1.2 California Department of Toxic Substances Control (DTSC): Safer Consumer Products (SCP)
3.5.2 Europe
3.5.2.1 Regulation (EU) 2017/852
3.5.3 China
3.5.3.1 Regulation on the Administration of Ozone Depleting Substances (No. 573)
3.6 Pricing analysis
3.6.1 Rigid foam
3.6.2 Flexible foam
3.6.3 Coatings
3.6.4 Adhesives & sealants
3.6.5 Elastomers
3.6.6 Other PU products
3.7 Industry impact forces
3.7.1 Growth drivers
3.8 Cost Structure Analysis, 2017
3.8.1 Land expenses
3.8.2 Building expenses
3.8.3 Plant & Machinery expenses
3.9 Growth potential analysis, 2017
3.9.1 Emerging business model
3.9.1.1 New product launch
3.9.1.2 Acquisition
3.10 Company market share analysis, 2017
3.10.1 Strategy dashboard
3.11 Porter’s analysis
3.12 PESTEL analysis
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Estimates depict that North America spray polyurethane foam market size will be worth nearly USD 1 billion by 2024. In this regard, North America has established itself as one of the most prominent avenues boosting SPF industry size. The regional growth is quite overt with the tax benefits promoting energy efficient infrastructure and supportive government regulations.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.