Key Opportunities and Challenges in Polyurethane Additives Market

September 15 23:40 2020
Key Opportunities and Challenges in Polyurethane Additives Market

Browse 87 market data Tables and 43 Figures spread through 153 Pages and in-depth TOC on “Polyurethane Additives Market”
Polyurethane Additives Market by Type (Catalysts, Surfactants, Filler, Flame retardants, and others), Application (Foams, Adhesives & Sealants, Coatings, Elastomers), End-use Industry and Region

The global polyurethane additives market sizeThe global polyurethane additives market size is projected to grow from USD 3.7 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 4.2%. The demand for polyurethane additives in emerging economies, such as APAC and South America, is increasing owing to the growing construction industry. The volatility in raw material prices and the recyclability of polyurethanes is hindering the polyurethane additives market. The demand for polyurethane additives is increasing, owing to the growing demand for innovative and cost-effective additives. This increase in demand for bio-based polyurethane additives provides growth opportunities to the market. On the other hand, the increasing regulatory pressure towards the usage of bio-based products is the major challenges for the market.

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Automotive & transportation segment is estimated to lead the overall polyurethane additives market in 2020.

Polyurethanes are used in various parts of an automobile. In addition to the foam that makes car seats comfortable, bumpers, interior “headline” ceiling sections, the car body, spoilers, doors and windows all use polyurethanes. Polyurethane enables manufacturers to provide drivers and passengers significantly more automobile mileage by reducing weight and increasing fuel economy, comfort, corrosion resistance, insulation, and sound absorption.

Foams segment is estimated to lead the polyurethane additives market in 2020.

Polyurethane foams are manufactured by reacting polyols and isocyanates in the presence of a blowing agent and an amine catalyst. The blowing agent is carbon dioxide, which is formed as a by-product of the reaction between water and isocyanate. The amine catalyst is known to accelerate the reaction. Polyurethane foams are of two types, namely rigid polyurethane foam and flexible polyurethane foam. Foams offer various properties such as comfort and insulating properties when used in various industries such as automotive and building & construction, which is driving the market.

The flame retardants segment is projected to lead the overall polyurethane additives market

Flame retardants of concern include organohalogen and organophosphate chemicals such as polybrominated diphenyl ethers (PBDEs) and chlorinated tris (TDCPP). There are various types of flame retardants such as brominated flame retardants, chlorinated flame retardants, phosphorous-based flame retardants, and some inorganic flame retardants. These are used to produce high quality polyurethanes that are used in various applications such as electronic, automobile, and building & construction.

APAC is projected to be the fastest-growing market for polyurethane additives. The rising population, increased demand for automobiles, growing disposable income, rapid industrialization, and increased urbanization are driving the APAC polyurethane additives market. China is the largest market for polyurethane additives in the region. China is also a major producer and consumer of polyurethane additives in the region as it has a huge manufacturing base. Apart from China, India and South Korea are projected to grow at a decent rate during the forecast period.

The key players in the non-phthalate plasticizers market include Evonik Industries (Germany), BASF (Germany), Huntsman Corporation (US), Covestro (Germany), Dow Inc. (US), Lanxess AG (Germany), lbemarle Corporation (US), Tosoh Corporation (Japan), Momentive (US), and BYK (US). These players have established a strong foothold in the market by adopting strategies, such as expansion and new product launch.

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