Business Science Technology

Polyurethane Additive Market Global Share, Size, Top Manufacturers, Revenue, Business Challenges, Future Challenges and Forecast 2023

Press Release

Polyurethane is a polymer composed of organic units joined by urethane link. Polyurethanes are made from the exothermic reactions between alcohols with two or more reactive hydroxyl groups per molecule and isocyanate that have more than one reactive isocyanate per molecule. Polyurethane Additives are the minor components, which are added to modify some of its properties in order to serve the desired purpose. They are majorly used to enhance properties of the material to make it suitable for a specific application. The operation includes lowering the glass transition temperature to make the product softer, fillers to increase density and make polymer cheaper, oil components to improve rheology of and flame retardants to enhance thermal stability of a polymer. The Polyurethane Additives confer some important properties to the parent material such as low density, flexibility, durability, greater weather ability, and resistance to heat, light, and impact. The types of Polyurethane Additive can be summed up as antioxidants, catalysts, emulsifier, stabilizers, fillers, and flame retardants, among the others.

The focus of consumers is changing from sedentary to a healthier lifestyle, not only when it comes to eating healthy but also using healthy non-consumable products. One of the major factors driving the growth of the Global Polyurethane Additives Market is enhanced usage of biodegradable and highly recyclable packaging. This is expected to fuel the demand for polyurethane additives, which helps to address environmental concerns. In addition to this, the major factors favoring the growth of the market include rapid urbanization, which is boosting the building & construction activities and rising demand for polyurethane from the furniture and footwear industry. Moreover, steadily increasing demand for automotive and rapid growth of transportation sector are anticipated to fuel demand for the product during the review period. However, the major bottlenecks identified in the market include, the volatility in prices of raw materials, which are primarily derived from the crude oil and stringent regulatory measures undertaken by some mature economies to phase out the use of harmful chemical products. Nevertheless, ongoing research in the field of green chemistry and development of an alternative product would help to find the way through this bottleneck in coming years.

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Key Players:

Some of the prominent players operating in the Global Polyurethane Additive Market are Evonik Industries AG. (Germany), Covestro AG (Germany), BASF SE (Germany), Tosoh Corporation (Japan), Huntsman International LLC (U.S.), Kao Corporation (Japan), The Dow Chemical Company (U.S.), Air Products and Chemicals, Inc. (U.S.),Suzhou Xiangyuan Special Fine Chemical Co., Ltd (China), and Momentive (U.S.), among others.

Segmentation:

The Global Polyurethane Additive Market is segmented on the basis of type, application, end use industry, and region.

Based on the Type, the market is divided into antioxidants, catalysts, emulsifier, stabilizers, fillers, flame retardants, and others.

On the basis, the Application, the Global Polyurethane Additive Market is categorized into flexible foam, rigid foam, coating, adhesives & sealants, and others.

On the basis of the End Use Industry, the market is classified into building & construction, automotive, furniture making, packaging, footwear, and others.

Geographically, the Global Polyurethane Additive Market is divided into five key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Regional Analysis:

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America are the major regions in Polyurethane Additives Market. Asia Pacific is projected to dominate the Global Polyurethane Additives Market with over 45% share of the market, as of 2016. The increasing demand for Polyurethane Additives in the region is driven by growing construction activities undertaken by both government and private players. The developing countries such as China, India, and Japan are investing heavily in infrastructural activities, which is likely to fuel the demand for the rigid foam, in turn, Polyurethane Additives. Furthermore, increasing demand from the automotive and transportation sector in this region is projected to propel the Polyurethane Additive Market. Europe tends to occupy a significant share of the Global Polyurethane Additive Market owing to the surging demand for the polyurethane-based products from established automotive and aerospace industry in this region. Moreover, the demand for household and electrical insulation to increase energy efficiency mingled with regulatory norms can drive the regional market. In terms of market size, the North America occupies comparatively smaller pie of share, among the three major regions, in the Global Polyurethane Additives Market. Yet, there is a rising demand for the products in the automotive interior, insulation, and furniture industry. The Middle East & Africa is a rapidly growing region in the Global Polyurethane Additive Market. The regional market for Polyurethane Additives has been driven by its demand for household insulation and growing infrastructure activities. Lastly, the lifestyle of people and economic scenario in Latin American countries namely Brazil, and Argentina is witnessing a positive change. Additionally, growing demand for the Polyurethane Additives for manufacturing foams from the construction and automotive industry is projected to drive the growth of the regional market.

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This post was originally published on The Market Plan