Polyurethane Elastomers Market Overview:
Polyurethane elastomers find application in various fields and are preferred due to their durability, flexibility, toughness, load strength, abrasion resistance, and chemical resistance. The Asia-Pacific region is the largest shareholder in the market for Polyurethane Elastomers followed by America. The Polyurethane Elastomer Market is estimated to be worth around $22 billion by 2023. The market is expected to grow at a CAGR of 4.7% during the forecast period from 2018 to 2023. China was the highest importer of Polyurethane while Germany was the Lead exporter of polyurethane in its primary forms.
Polyurethane Elastomers Market Outlook:
Polyurethane Elastomers are rubber like materials that are manufactured by the reaction of Isocyanates with hydroxyl group in the Polyols (alcohol) to which a curative agent is added which forms the links between the polymer strands thus curing the polyurethane elastomer. The major Isocyanates used are either Toluene Diisocyanate (TDI) or Methy-diphenly Diisocyanate (MDI) and the Polyols are of either Polyether or Polyester. There are various additives that are added to these elastomers during their processing to enhance certain properties for specific applications and to reduce costs. Polyurethane elastomers are used in various industries, some common application include: insulation panels, wires and cable insulation, tires, conveyor belts, films and sheets interior and exterior automotive parts, sealants, adhesives, coatings, blocks and many more.
Polyurethane Elastomers Market Growth drivers:
Major Growth driver for the Polyurethane Market is the increasing global population and increase in disposable income per household. The global increase in both these factors affect the automotive, construction and footwear industry, increasing their demand which in turn directly increases the demand for polyurethanes in their applications.
The versatility, durability, ease of processing and mechanical properties of polyurethane itself is also a growth driver for the polyurethane elastomer market due to which it is the predominant choice of material in various industries.
Polyurethane Elastomers Market Challenges:
The most widely used raw materials for the production of Polyurethane are TDI, MDI and 1, 4 Butanediol are all derivatives of crude oil. The increasing prices of crude oil and the general volatility that is observed in the prices of crude oil are a major deterrent for the market. MOCA which is the most used chemical as a curative for polyurethane manufacturing is also facing regulatory backlash in the EU region due to which alternative will have to be considered, none of which perform as well a MOCA.
Another major challenge that comes with the use of Polyurethane elastomer is its environmental impact. Polyurethane Elastomers are not bio-degradable and hence their disposition adds to the surmounting plastic pollution globally.
Polyurethane Elastomers Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polyurethane Elastomers Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Polyurethane Elastomers (SAP) Market Report: Industry Coverage
Polyurethane Elastomers Market– By Type: Liquids: Prepolymers, One-Shot Systems; Thermoplastic Elastomer, Millable Rubber and others.
Polyurethane Elastomers Market– By Processing Methods: Casting, Thermosetting, Calendering, Molding, Melt Processing, Extrusion, Spreading, Solution Techniques and others.
Polyurethane Elastomers Market– By Raw Material: Isocyanates, Polyols and Curatives.
Polyurethane Elastomers Market– By Additives: Pigments, Flame Retardants, Smoke Retardants, Fillers, Degassing Aids, Plasticizers, Catalysts, Antioxidants/ UV Stabilizers, Anti-static Agents and others.
Polyurethane Elastomers Market– By Applications: Wires and Cables, Conveyor belt, Rollers, Tires, Seals, Sprockets, Shock Absorbers, Bumpers, Insulation, Blocks, Tubes, Films and Screens, Artificial Leather, Technical Parts and others.
Polyurethane Elastomers Market – By End User Industry: Automotive Industry, Food and Beverage Industry, Packaging Industry, Aerospace and Aviation Industry, Manufacturing Industries, Construction industry, Fashion and Footwear Industry, Electronics and Electrical Industry, Oil and Gas Industry and others.
The Polyurethane Elastomers Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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