Global Polyurethane Market Trends and Forecasts 2021-2026: Increasing Construction and Automotive Industry Demands Drive Growth, but Environmental Concerns Remain
Dublin, Sept. 08, 2021 (GLOBE NEWSWIRE) -- The "Global Polyurethane Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
Polyurethane is one of the most significant polymer products in the plastic family. Structural and non-structural applications of polyurethane and its variants have become a natural and effective method for repair, strengthening, rehabilitation, and protection in many end-user industries.
The global polyurethane market is expected to witness a moderate growth rate to 2026. Increasing demand in the construction and automotive industry and the growth of both industries in emerging countries drive the growth of the polyurethane market. However, the growth in environmental concerns due to the toxic nature of polyurethane coatings is expected to hinder the growth of the market in the forecasted period.
In the construction industry, polyurethanes are used to make high-performance products that are strong but lightweight, perform well, and are very durable and versatile. Polyurethane products can also help in enhancing the aesthetic design of homes and buildings. According to the US Environmental Protection Agency (EPA), completely cured polyurethane products are considered to be inert and non-toxic. Products such as furniture and carpeting that contain polyurethane are fully cured before they are sold. Polyurethane is a crucial ingredient in a wide range of high-efficiency sealants, insulation materials, and adhesives used in home and building construction. Polyurethane can be used in the form of foam, binders, and elastomer, among others. The primary use of energy by households in the European Union is for heating their homes, which accounted for more than 64% of the energy consumption in the year 2018.
Similarly, according to the US Department of Energy, heating and cooling costs, approximately 56% of the average American home's energy. With the use of rigid polyurethane form, money cab be saved while maintaining uniform temperature and reducing noise levels. EPA estimates that homeowners can save an average of 15% on heating and cooling costs and an average of 11% on total energy costs by air sealing their homes and adding insulation. Current government regulations have established the minimum requirements on the construction standards, whether new construction or renovation. They include some parameters of thermal resistances for the enclosure, and, to meet them, new buildings are being constructed/renovated with highly efficient insulating products.
Due to the ongoing Covid-19 pandemic, a capital liquidity crunch is the main issue for the property and construction sectors. Investment has been reduced across the market due to the blocked cash flow of developers. For developed projects, the commercial business has been affected by the enormous fluctuations in retail that have led to rental income decreases. At the same time, companies may decide to reduce office floor space to cut rental costs. In 2020, the United States construction spending in the first two months combined increased 8% from the same period in 2019, spurred by a 13% jump in single-family construction, an 11% rise in the public buildings, and the lowest 1% increase in private buildings.
In some countries such as Belgium, France, and the US, polyurethane has been in regular use for many years in the construction sector. It also includes polyurethane in thermal insulation systems for the home. The number of European markets using polyurethane commercially is increasing, given the extremely stringent European Union energy efficiency standards required for buildings. Along with the drive for compliance, project owners also focus on cost efficiency, with polyurethane-based thermal insulation solutions offering significantly reduced construction & maintenance costs and their ease of handling & shipping.
The Global Polyurethane market report provides deep insight into the current and future state of the Polyurethane market across various regions. Also, the study comprehensively analyzes the Polyurethane market by segments based on Product Type and By End-Use and by Geography.
The report examines the market drivers and restraints, along with the impact of Covid-19 are influencing the market growth in detail. The study covers & includes emerging market trends, market developments, market opportunities, polyurethane market size, polyurethane market analysis, market dynamics, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market share and projects.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
3. Market Analysis
4. Industry Analysis
5. Market Segmentation & Forecast
6. Regional Market Analysis
7. Key Company Profiles
BASF SE
The Dow Chemical Company
Covestro AG
Huntsman Corporation
BCI Holding SA
Carpenter Co.
DIC Corporation
INOAC Corporation
Mitsui Chemicals Inc.
Recticel NV/SA
Rogers Corporation
Wanhua Chemical Group Co. Ltd.
The Lubrizol Corporation
Huafeng Group
Coim Group
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/myvlze
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