The Business Research Company’s Polyurethane Global Market Report 2021 – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, October 5, 2021 /EINPresswire.com/ — According to the polyurethane market analysis, adoption of polyurethane in home furnishings is driving the polyurethane market. Furniture manufacturing companies are enhancing comfort, durability, health and safety by using flexible polyurethane foam (FPF) as a cushioning material for upholstered furniture, bedding and carpet underlay. Furthermore, with the introduction of advanced manufacturing process, polyurethane form provides more uniform, predictable and durable end products. The durability, comfort and safety provided by polyurethane continue to be the major reasons for use in the furniture industry, thereby, driving the demand of polyurethane industry going forward.
The polyurethane global market size is expected to grow from $11.25 billion in 2020 to $13.71 billion in 2021 at a compound annual growth rate (CAGR) of 21.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The polyurethane market is expected to reach $16.79 billion in 2025 at a CAGR of 5%.
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Major players covered in the polyurethane market are The Dow Chemical Company, BASF SE, Covestro, Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals, Inc., DIC Corp, Nippon Polyurethane Industry Corp Ltd., Recticel S.A., Woodbridge Foam Corp., RTP Company, LANXESS, Lubrizol Corp., Tosoh Corporation, DowDuPont, Perstorp, Manali Petrochemicals Ltd., Wanhua Chemical Group Co., Ltd., Eastman Chémical Co, Nippon PU Industry Corp, Recticel S.A, Rampf Holding GmbH & Co. KG, Foamex Innovations (U.S), Kuwait Polyurethane Industries W.L.L, Recticel s.a./n.v., Rogers Corporation, Sheela Foam Ltd., INOAC Corporation.
TBRC’s global polyurethane market report 2021 is segmented by product type into coatings, adhesives and sealants, flexible and rigid foams, elastomers, others, by end use industry into furniture, construction, electronics & appliances, automotive, footwear, others, by raw material into MDI, TDI, polyols.
Polyurethane Global Market Report 2021 – By Product Type (Coatings, Adhesives and Sealants, Flexible and Rigid Foams, Elastomers), By End Use Industry (Furniture, Construction, Electronics & Appliances, Automotive, Footwear), By Raw Material (MDI, TDI, Polyols), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides polyurethane market overview, forecast polyurethane market size and growth for the whole market, polyurethane market segments, and geographies, polyurethane market trends, polyurethane market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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