Showing posts with label Global Polyurethane Foams Market. Show all posts
Showing posts with label Global Polyurethane Foams Market. Show all posts

Sunday, October 2, 2022

About 25 Global Players Dominate Global Polyurethane Market Holding Over 40% of Revenue in 2021 Says Report: Ken Research

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Few Diverse Global Players Dominate the Market Holding ~40% of Revenue Share Despite Presence of about ~250 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Polyurethane Market  by Ken Research.

Plastic substance polyurethane comes in a variety of shapes and sizes. It is the material of choice for a wide range of end-user applications and may be modified to be either rigid or flexible. Polyurethanes are adaptable, contemporary, and secure. They are employed in a wide range of processes to produce a wide range of consumer and industrial goods that are essential in making our lives more practical, cozy, and ecologically friendly. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

1. Global Players that Constitute Just 10% of Total Number of Competitors Hold Largest Revenue Share of 40% While Regional Companies Also Have A Strong Presence and Hold 30%

A comprehensive competitive analysis conducted during the Research Study found that the Global Polyurethane Market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players. The large global players comprise about 10% in terms of the number of companies and hold ~40% of the market revenue share followed by regional players which account for ~30% of the market revenue. Most of the country-niche players are foam and raw material suppliers. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.

Number of Companies vs market revenue global polyurethane market

 

2. Leading Specialist Global Players' Ongoing Efforts To Provide Range Polyurethane Foams To Multiple End User Industries are Driving Revenue Growth of this Market

Detailed comparative analysis of key competitors available within the Research Study shows that specialist companies, such as Foamcraft Inc, and Laxness are highly focused on providing a significant number of polyurethane products that can be used across multiple industries, including furniture, building and construction, and more.

comparison of competitiors global polyurethane market

3. A Temporary Halt in Manufacturing Activities Caused By The Prolonged COVID-19 Hindered The Global Production Of Raw Materials.

Government restrictions on travel, lockdowns, and factory closures caused by the COVID-19 pandemic affected the polyurethane industry. The building and construction sector’s stagnancy harmed the polyurethane market. Storage apparatuses, such as specific refrigerators, where COVID-19 vaccine vials can be kept, are prepared using rigid polyurethane foams. These are deployed in the global shipment of vaccines.

Due to the COVID-19 pandemic, there was a temporary halt in manufacturing activity that hampered the production of raw materials around the world. It affected both the market and other concurrent activities in the end-user segment. Several raw material orders, including those for MDI, TDI, polyols, and isocyanates, were delayed or canceled, resulting in production bottlenecks.

However, the building and construction industry, along with the furniture market, is in a recovery mode, putting the Polyurethane market back on the growth trajectory.

Increased Government Initiatives And Policy To Support The Growth Of The Global Polyurethane Market

The use of methylene chloride at foam production processes is forbidden by the final National Emission Standards for Hazardous Air Pollutants (NESHAP). Local manufacturers of flexible polyurethane foam Cut or glue pieces of flexible polyurethane foam extension of the Time for Public Comment the planned RTR's public comment period has been extended until March 29, 2021. These components are then employed in upholstered products including furniture, automobiles, some appliances, and other products, either together or to other substrates.

The phase-down of HFCs for low GWP blowing agents has the complete backing of the American Chemistry Council (ACC). In accordance with the AIM Act, the Center for the Polyurethanes Industry (CPI) petitioned the EPA in May to gradually reduce the usage of HFCs in the polyurethane industry. With effect from January 1, 2023, the petition asks the EPA to reinstate the limitations on HFCs from the Significant New Alternatives Policy initiative.

For more information on the research report, refer to the below link:-

Global Polyurethane Market

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

3 Key Insights on US$ 100 Bn Opportunity in Global Polyurethane Market: Ken Research

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Driven by the Rising Demand for Strong and Lightweight Materials in the Construction, Electronics, and Automotive Sectors, the Global Polyurethane Market is forecasted to Cross US$100 Bn by 2028, says Ken Research Study.

Polyurethane is made up of organic units connected by carbamate linkages and does not melt when heated. It is small in size, doesn't corrode easily, is elastic by nature, and has a lot of strength. PU is typically used in place of paper, glass, and metals. Polyurethane's high mechanical strength enables it to serve as insulation and as a substitute for metal in automotive parts.

Polyurethane demand is anticipated to increase throughout the forecast period due to rising building insulation demand brought on by environmental concerns. According to Ken Research estimates, the Global Polyurethane Market – which grew from around US$55 Bn in 2017 to nearly US$75 Bn in 2022 – is expected to grow further into a more than US$100 Bn opportunity by 2028- “Ken Research shares 3 key insights on this high opportunity market from its latest research study”.

1.      Rise In Demand For Sustainable Insulation And Its Material Properties Drives The Growth Of Polyurethane Market.

The Global Polyurethane Market is expected to witness steady growth during the forecast period, driven by the rising demand for strong, lightweight goods in the construction, electronics, and automotive sectors. Throughout the projection period, demand for polyurethane is also anticipated to increase with the surging demand for sustainable building insulation.

Moreover, polyurethane insulation is customizable. Storage apparatuses, such as specific refrigerators, where COVID-19 vaccine vials can be kept, are prepared using rigid polyurethane foams. These are deployed in the global shipment of vaccines as well.

2. The Market Is Dominated by Rigid Foam, Which Accounts for More Than Half of The Revenue Share and Continues To Hold This Position Throughout The Forecast Period.

Rigid polyurethane foams are high-performance closed-cell polymers which can be used in a variety of end-user industries, including transportation, packaging, industrial insulation, and appliances, thanks to their structural stability. It aids the creation of thermally insulating products by product designers. Because they offer superior mechanical strength, better heat resistance, and sound-insulating properties, rigid foams are well suited for difficult conditions and extreme weather.

Due to rapid industrialization, China, India, and Indonesia dominate the Asia Pacific (APAC) market for stiff PU foams. The growth of the furniture and construction industries, as well as the presence of significant automotive OEMs, drive the rigid foam market in APAC. It is anticipated that the government's assistance in weatherizing low-income homes and meeting transitional standards for green buildings will further propel the demand for stiff PU foam in insulation applications.

3. Along With the Building and Construction Market, the Furniture Market Plays a Key Role in Boosting Demand for Polyurethane Products

Due to its excellent strength-to-weight ratio, insulating properties, durability, and adaptability, polyurethane is frequently utilized in building and construction applications. Oxford Economics estimates that between 2020 and 2030, worldwide construction production will increase by 42%, or US$4.5 trillion, reaching US$15.2 trillion from US$10.7 trillion in 2020. Over the ten years leading up to 2030, construction will have an average annual growth of 3.6%, outpacing both manufacturing and services. In 2022, the furniture market is anticipated to generate almost US$500 billion in revenue. The market volume for Furniture is predicted to cross US$720 billion by 2025, with revenue forecast to expand at more than 13% CAGR from 2022 to 2025.

For more information on the research report, refer to the below link:-

Global Polyurethane Market

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249