Ocean View, DE -- (SBWIRE) -- 05/07/2020 -- Global Polyurethanes Market size was estimated at USD 59.5 Billion in 2018 and is projected to surpass USD 93.1 Billion by the year 2026.

Amplifying demand for sustainable plastic solutions in automotive and construction sector will influence polyurethanes market outlook by 2026. Demand for organic and lightweight polymers have increased significantly to reduce environmental degradation. In addition, government initiatives towards infrastructure development are also favoring polyurethane market trends.

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Polyurethane offers effective bonding, high flexibility, high load bearing capacity, and impact resistance, which has escalated adoption of polyurethane products globally. Polyurethane-based products can enhance aesthetic appearance and provide a clean minimalistic look. Chairs, tables, beds, etc. are being increasingly manufactured by using premium quality plastic materials due to economic feasibility, which is likely to offer momentous growth to polyurethanes market share.

Construction sector is generating high growth opportunities for PU market owing to the unique physical properties and high versatility of the product. The material provides great adhesion and elasticity to several substrates, including wood, concrete, glass, and plastic. These foams act as insulation materials in wall and roof, insulated doors, windows, and air barrier sealants.

Polyurethane foam has high insulation properties which makes them apt for use in construction activities. These foams are distinguished by open cell construction and have relatively softer feel as compared to others. Shifting inclination of people towards energy conservation has expanded the usage of PU as thermal insulator in households.

Regional Growth Drivers of Polyurethanes Market are -

- North America: Growing demand for light weight, high performance materials from automotive industry
- Asia Pacific: Increasing construction spending in Asia Pacific
- Europe: Government support for energy efficiency

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Increasing focus towards the use of recyclable and sustainable packaging solutions in Asia Pacific shows favorable circumstance for product demand. Several vendors in the region are developing packaging solutions which offer high gloss finish with new design innovations. This has substantially created demand for recyclable materials which are highly durable and help in protection of pressure sensitive products.

Companies are involved in new product developments and collaborations to improve their market share. For instance, In May 2018, Huntsman Corporation, a U.S. based manufacturer & distributor of polyurethane products launched two thermoplastics polyurethanes for footwear industry. These new products showcase innovations introduced in rubber industry and provide improved slip-resistance on wet and dry surfaces.

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