New York
City, 30 January 2019: The global Polyurethane (PU) Market is anticipated to reach USD 92.26
billion by 2026 according to a new study published by Polaris Market Research.
Polyurethanes comprise linear polymers that contain carbamate groups. These
groups are generally denoted as urethanes and are manufactured through
condensation process. They generally involve the reaction between polyol and
diisocyante. The end product has a wide range of applications in various
industries such as automotive, construction, furniture, and electronics, among
others.
The properties of polyurethane are
highly influenced by the characteristics of polyols such as molecular
structure, reactive functional groups, and molecular mass, among other
properties. Such properties facilitate varied usage of polyurethanes across a
wide range of industries. For instance, they are used as flexible foams which
are utilized in cushions, mattresses, and car seats. Similarly, they are used
as rigid foams that are generally utilized for insulation purpose in
construction sector. Moreover, it is used as molded foam, elastomers, coatings,
adhesives and sealants.
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Polyurethane is the only plastic that
offers high flexibility, rigidness, low density, durability, biostability,
resistant to oils, water, grease, and electric currents. It is capable of
performing in extreme temperatures, and harsh environmental conditions.
Furthermore, it offers wide resiliency range, strong bonding properties, and is
utilized for manufacturing of prototypes, and repeat productions. It is
available in various types namely flexible polyurethane, rigid polyurethane,
Coatings, Adhesives, Sealants and Elastomers (CASE), thermoplastic
polyurethane, reaction injection molding, waterborne Polyurethane Dispersions
(PUDs), and binders.
Competitive Landscape and Key Vendors:
The Polyurethane (PU)
Market is marked by the presence of numerous players but is largely dominated
by well-established international players. The market players are observed
competing on the basis of comprehensive range of products and services, along
with quality, pricing, and technology. The presence of large number of
market players is highly responsible for lowering down cost price and sales
volumes. Such scenario usually creates a negative impact on the financial
health of a company. Moreover, the market products are subject to several
state, local and federal laws and regulations, duties, and trade agreements.
Any addition or alteration in the existing regulations or an economic downturn
in different regions (where companies operates) could result in decreasing
sales volume and drastically impact the market players’ revenues.
Some of the key players operating in
polyurethane (PU) market include Covestro, BASF SE, Mitsui Chemicals Inc.,
Eastman Chemical Corporation, INEOS, Mitsubishi Chemical Corporation, DIC Corp
& RTP Company Huntsman Corporation, LyondellBasell, The Dow Chemical Co.,
Nippon Polyurethane Industry Corp Ltd., Woodbridge Foam Corp., Lubrizol
Corporation, The Rampf Holding GmbH & Co. KG. These players are observed
proactively engaging in activities aimed at the development of new products and
advanced technology.
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