Global Polyols and PUR Market to Grow at a CAGR of 7.4% from 2012-18: TMR
Transparency Market Research (TMR) has announced the release of a report titled “Polyols and Polyurethanes - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”. According to the report, the global demand for polyols reached 7.5 million tons in 2012 and is anticipated to be more than 10.4 million tons by 2018. The global polyols market will expand at a 5.5% CAGR during the forecast period of 2012 to 2018.Furthermore, global demand for polyurethane (PU) was estimated at US$43.2 billion by 2012 and is projected to be US$66.4 billion by 2018. The global polyols and polyurethane market will grow at a 7.4% CAGR during the forecast period.
Polyols are one of the key raw materials used in the manufacturing of polyurethane and form the crux of the influential trends in the polyurethane market. The global polyols market is segmented according to product type into polyester polyols and polyether polyols. In 2011, the segment of polyether polyols held the lion’s share in the global polyols market and accounted for more than 70% of the total demand.According to the same criterion, the global polyurethane market is classified into coatings, rigid foam, elastomers, adhesives and sealants, and others. Flexible and rigid foam are the leading product segments and collectively made up over 65% of the global polyurethane demand during 2011. Polyurethane finds application in several industries such as construction, furniture and interiors, automotive, electronics and appliances, packaging, footwear, and others. Currently, the furniture and interiors industry leads the global polyurethane market. The electronics and appliances industry will emerge as the fastest growing sector in the polyurethane market.
The global polyurethane (PU) market will be driven by the growth of the furniture and interiors industry, and rising demand from the construction and automotive industries. Flexible polyurethane foam (FPF) is extensively used in the home furnishing industry due to its high durability and flexibility. It is used for items such as bedding, carpet underlay, and furniture.However, factors such as the volatility of raw material prices and the economic downturn influencing product sales will suppress the global PU market. Market players will benefit from the growing opportunities in the emerging nations of Asia Pacific and production of bio-based polyurethane. Some of the top manufacturers of polyurethane are BASF SE, Chemtura Corporation, Bayer MaterialScience AG, Huntsman Corporation, Hebei Cangzhou Dahua Group Corporation Ltd., Mitsui Chemicals Inc., and Nippon Polyurethane Industry Co. Ltd.
By geography, the global polyurethane industry is divided into North America, Europe, Asia Pacific, and Rest of the World. The emerging economies of China, India, and Brazil will fuel the global PU market. The demand for quality products has increased in Brazil, which will fuel the demand for polyurethane. In addition, China is the largest exporter and supplier of polyurethane and will drive the Asia Pacific polyurethane market. In 2011, Asia Pacific contributed to 40.4%
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