Asia
Pacific polyurethanes
market size is likely to inflate owing to heightened demand from the
packaging industry. The industry has been increasing the adoption of recyclable
and sustainable packaging solutions lately. Moreover, development of packaging
solutions with high gloss finish and latest designs with the use of PU are on
the rise. The latest innovations for packaging solutions involve the use of
recyclable materials, especially polyurethane, since they are durable and
protect delicate products with high fragility, thereby fueling polyurethanes
industry share.
Polyurethane-based
foams, sealants, coatings, and adhesives have gained massive relevance in
packaging, electronics, and construction sectors. Application of polyurethane
as adhesives offer strong bonding, while PU sealants provide tighter seals.
Polyurethane companies are striving to advance technologies for polymer
manufacturing with extraordinary properties to make the products suitable for a
broader application spectrum.
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Amplifying
demand for sustainable plastic solutions in automotive and construction sector
will influence polyurethanes (PU) 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.
According
to the latest research report published by Global Market Insights Inc.,
polyurethanes market size is likely to surpass $93 billion by 2026.
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 industry 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.
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Production
of auto components, construction materials, and footwears leverage load
resistance, superior adhesiveness, and high tear strength of polyurethane
elastomers. These elastomers are moldable in any shape and are lighter than
metals, which is likely to drive PU industry growth. It can withstand low
temperature conditions due to its tensile and tear resistant properties and
lengthen product lifespan.
Europe
has been generating high demand for lightweight and high-performance sealants
& adhesives owing to stringent regulations towards controlling carbon
footprint and use of fuel-efficient vehicles. Governments in Europe and North
America have implemented restrictions to reduce environmental degradation. This
move has encouraged industry players to develop high-quality plastics to
replace traditional heavy metals, which is fueling polyurethanes market
size.
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The
key PU industry players include Nippon Polyurethane Corporation, Huntsman
Corporation, BASF, and Mitsui Chemicals. These companies have been pursuing
various strategies, including collaborations, product development, flotation,
and others to strengthen their market foothold. For instance, in May 2018,
Huntsman Corporation rolled out two thermoplastics polyurethanes for footwear
sector. The advanced polyurethane has enhanced slip resistance on wet and dry
surfaces.
About
Global Market Insights:
Global
Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our business
intelligence and industry research reports offer clients with penetrative
insights and actionable market data specially designed and presented to aid
strategic decision making. These exhaustive reports are designed via a
proprietary research methodology and are available for key industries such as
chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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