Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Polyurethane Catalyst Market by Type, Functionality (Blowing Catalyst, Curing Catalyst, Foam Stabilizing Catalyst, Cross Linking Catalyst, Gelling Catalyst), Application (Foam, Sealant & Adhesive, Coating, Elastomer), Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Polyurethane catalyst Market is projected to reach USD 3.1 billion by 2028, at a CAGR of 6.0% from USD 2.3 billion in 2023
This report segments the market for the near-infrared absorbing material market on the basis of IR range, Material type, function and end use industry, and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for the near-infrared absorbing material market.
The rapid urbanization and infrastructure development drives the market. In addition, polyurethane catalysts find various applications in numerous industries, all benefiting from the remarkable versatility and performance attributes of polyurethane materials.
One significant application is within the construction sector, where polyurethane insulation materials are crucial for enhancing energy efficiency in buildings. Catalysts play a pivotal role in the creation of rigid polyurethane foams used in insulation panels, ensuring precise expansion and curing processes.
The key players in this market include BASF SE Germany), Evonik Industries AG (Germany), Huntsman International LLC (US), Momentive (Niskayuna), Tokyo Chemical Industry Co., Ltd. (Japan), Dow Chemical Company (Michigan), PATCHAM (FZC) (UAE), Carpenter Co. (US), Mofan Polyurethane CO., LTD. (China), UMICORE (Brussels).
Foam Stabilizing Catalyst, by functionality accounts for the second-largest market share in 2022
Foam Stabilizing Catalysts are favored in the polyurethane catalyst market due to their pivotal role in ensuring the quality and performance of polyurethane foam products. These catalysts are instrumental in controlling the formation of foam cells during the curing process, directly influencing the size, distribution, and stability of the foam's cellular structure.
This, in turn, leads to enhanced foam density, insulation properties, and overall mechanical strength. Manufacturers value foam stabilizing catalysts for their ability to deliver consistent and uniform foam production, ensuring reproducible results across different batches and maintaining stable product characteristics over time. This reliability not only meets the stringent demands of industries such as construction, automotive, and furniture manufacturing but also reduces waste and increases production efficiency.
Elastomer are expected to be the fastest growing at CAGR 6.2% for polyurethane catalyst market during the forecast period, in terms of value
The rapid growth of elastomer within the polyurethane catalyst market can be attributed to their diverse and versatile applications across industries. Elastomers, valued for their flexibility, durability, and resistance, find usage in a wide spectrum of sectors, including automotive, consumer goods, industrial equipment, and healthcare.
In the consumer goods arena, from footwear to sportswear, the demand for innovative elastomer-based materials continues to rise, driving the need for specialized catalysts tailored to elastomer production. In the automotive sector, elastomers play a pivotal role in manufacturing components like seals, gaskets, and suspension systems, aligning with the industry's focus on performance and sustainability.
Based on region, Europe was the second largest market for Polyurethane catalyst market in 2022.
Europe is a prominent region in the near-infrared absorbing material market, driven by its advanced technological infrastructure, strong manufacturing base, and focus on sustainability. The region is characterized by a diverse range of end-use industries that extensively utilize near-infrared absorbing materials. Germany has the maximum share of this market and is the fastest-growing country at a CAGR 8.46% in this market
The report provides insights on the following pointers:
- Analysis of key drivers: Increasing demand for advanced technologies, Energy Efficiency and Sustainability.
- Market Penetration: Comprehensive information on the Polyurethane catalyst market offered by top players in the global the Polyurethane catalyst market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the the Polyurethane catalyst market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for the the Polyurethane catalyst market across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global the Polyurethane catalyst market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the the Polyurethane catalyst market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 198 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.3 Billion |
| Forecasted Market Value (USD) by 2028 | $3.1 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Companies Featured
- Air Products and Chemicals, Inc.
- Basf Se
- Bcl Holding Sa
- Byk
- Carpenter Co.
- China Petroleum & Chemical Corporation
- Clariant Ag
- Covestro Ag
- Dic Corporation
- Dow
- Evonik Industries Ag
- Gulbrandsen
- Huntsman International LLC
- Imen Polymer Chemie Co.
- Lanxess
- Milliken
- Mitsui Chemicals, Inc.
- Mofan Polyurethane Co., Ltd.
- Momentive
- Solvay
- Tokyo Chemical Industry Co., Ltd.
- Tosoh Corporation
- Triiso LLC
- Umicore
- Wanhua Chemical Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/sle3gg
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