The global polyurethane market is expected to reach USD 73,607.1 million by 2020, according to a new study by Grand View Research, Inc. Furniture & interior applications dominated the PU market, with demand estimated at 3,991.6 tons in 2013. Increasing usage in automotive and electronic appliances including seat cushioning, interior trims and refrigeration is expected to fuel polyurethane market demand.

Asia Pacific emerged as the largest regional polyurethane market, with demand estimated at 7,352.6 kilo tons in 2013, growing at a CAGR of 5.9% from 2014 to 2020. Increasing construction spending in emerging markets such as China and India is expected to drive the market growth in the region. In addition, strong demand from automotive and electronic applications is also expected to play a key role in market development. Relatively low feedstock pricing in Asia Pacific is expected to be a major benefit for industry participants in terms of production.

About Grand View Research

Grand View Research Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, it offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

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