Polyurethane Elastomers Market: Global Industry Analysis and Forecast (2024- 2030)

The Polyurethane Elastomers Market was valued at US$ 2.22 Bn. in 2023 and is expected to reach US$ 3.26 Bn. by 2030, at a CAGR of 5.6% during a forecast period.
Polyurethane Elastomers Market Overview:
Polyurethane elastomers are polymer materials with elastic properties based on polyols, disocyanates, and extenders. These elastomers can be processed by injection, extrusion, blow molding, and compression molding equipment, and can also be vacuum molded or solution coated. They are very suitable for various manufacturing methods and can be converted into almost any shape. Compared with metals, they provide excellent Stress recovery and can resist many environmental factors. It provides a considerable combination of physical properties, making it an extremely flexible material suitable for dozens of uses, such as shoe sole manufacturing, tire filling products, seals, and gaskets, run-flat tires, truck underlays, mixing Gears, bearings, pulleys, and belts.To know about the Research Methodology :- Request Free Sample Report

The report has covered the market trends from 2017 to forecast the market through 2030. 2023 is considered a base year. Special attention is given to 2023 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Polyurethane Elastomers Market Dynamics:
The automobile industry is the main consumer of polyurethane elastomers, and the automobile industry in emerging countries is growing, which is expected to promote the growth of the global polyurethane elastomer market. In addition, people's increasing attention to safety and fuel efficiency in driving cars requires high-quality and high-performance plastics. Therefore, there is an increasing need for lighter vehicles to reduce automobile gas emissions and improve fuel efficiency, which has promoted the growth of polyurethane elastomers. In addition, the recovery of the global footwear industry and the growing demand for polyurethane elastomers in the global footwear industry, because people are more inclined to use shoes for regular occasions, sports and leisure purposes, and for light, comfortable and durable footwear. Polyurethane elastomers are polyurethanes with rubber characteristics.

Polyurethane elastomer is made of hard (isocyanate) and elastic (polyol) parts and changing these choices create an excellent quality of polyurethane elastomer. The rising population is assisting the footwear industry in China, India, Japan, and other nations in creating a significant demand for polyurethane elastomers. The global polyurethane elastomer industry is increasing due to increased demand.

The global polyurethane elastomer industry is facing the challenge of crude oil price fluctuations, which is expected to limit the growth of the global polyurethane elastomer market. The popularity of bio-based polyurethane elastomers is expected to bring abundant opportunities to the global polyurethane elastomer market. In addition, stringent regulations formulated by the government to reduce carbon dioxide emissions in the environment are expected to provide the industry with market growth in shades.
Polyurethane Elastomers Market Segment Analysis:
Based on Type, the polyurethane elastomers market is sub-segmented into Thermoplastic PU Elastomers, and Thermoset PU Elastomers. The Thermoplastic PU Elastomers segment held the largest market share of xx% in 2023, owing to its properties like it has High elasticity across the entire hardness range, it is helpful in low-temperature and impact strength, flexibility, and Robust weather and high-energy radiation resistance due to all this reason demand of Thermoplastic PU Elastomers segment is increasing. The rising demand for lightweight materials and highly efficient products in the transport industry, and an increasing number of government rules in PU elastomer.

Based on Application, the polyurethane elastomers market is sub-segmented into Footwear, Automotive & Transportation, Building & Construction, and Industrial Machinery. The footwear segment held the largest market share of xx% in 2023, owing to its excellent mechanical and physical properties like it has high corrosion resistance, durability, and softness, it has high rigidity and lightweight in nature including all these properties the demand of footwear segment is increasing. Additionally, the changing lifestyles and growing economies in different regions are expected to boost the demand for the footwear segment across the globe.
Polyurethane Elastomers Market Regional Insight:
Asia Pacific region held largest market share of xx% in 2023. The rise of the major end-use sectors likes furniture & interior, electronics & appliances, packaging, automotive and construction are driving the market growth. The regional market is distinguished by the ease with which land can be obtained and the cheap cost of trained labor. Over the forecast period, a change in the manufacturing environment toward emerging economies, particularly China and India, is expected to positively influence market growth. The region is also home to a number of fast increasing businesses that provide lucrative growth opportunities for Polyurethane Elastomers makers.

Flexible foam is used to cushion a wide range of consumer and business products, including furniture, mattresses, carpet cushions, fibers, and fabrics. Because of increased consumer awareness about the sustainability of lightweight and low-cost polyurethane, foams and other Polyurethane Elastomers products are expected to acquire prominence in the region. Furthermore, rising construction spending as a result of the growing requirement for sustainable infrastructure, combined with rising demand for furniture and sleeping products, is expected to drive product demand.
Recent Developments:
BASF and Meiban teamed in December 2022 to develop the Elastollan soft touch feel thermoplastic Polyurethane Elastomers series, which provides new design options.

Covestro and global plastics compounder Teknor Apex will work in May 2022 to create compounded industrial thermoplastic Polyurethane Elastomers elastomer. The collaboration's goal was to provide personalized products to both existing and new clients.

The objective of the report is to present a comprehensive analysis of the Polyurethane Elastomers market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Polyurethane Elastomers market dynamics, structure by analyzing the market segments and projects the Polyurethane Elastomers market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Polyurethane Elastomers market make the report investor’s guide.
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Polyurethane Elastomers Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 2.22 Bn.


Forecast Period 2024 to 2030 CAGR:
5.6 %
Market Size in 2030:
US $ 3.26 Bn.


 Segments Covered:
by Type
Thermoplastic PU Elastomers
Thermoset PU Elastomers


by Application
Footwear
Automotive & Transportation
Building & Construction
Industrial Machinery


by Additive
Pigments
Blowing agents
Fillers
Smoke Retardants
Flame Retardants



Polyurethane Elastomers Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Polyurethane Elastomers Market Key Players
1. BASF
2. Huntsman
3. The Dow Chemical Company
4. Covestro
5. Chemtura Corporation
6. Mitsui Chemicals
7. Lubrizol
8. Tosoh
9. P+S Polyurethan-Elastomere
10. Wanhua Chemical
11. Trelleborg
12. Headway Group
13. Coim Group
14. Inoac Corporation
15. Accella Polyurethane Systems

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 5.6% during forecasting period 2024-2030.

3. What is scope of the Global Pmarket report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – BASF, Huntsman, The Dow Chemical Company, Covestro, Chemtura Corporation, Mitsui Chemicals, Lubrizol, Tosoh, P+S Polyurethan-Elastomere, Wanhua Chemical, Trelleborg, Headway Group, Coim Group, Inoac Corporation, Accella Polyurethane Systems, and

5. What is the study period of this market?
Ans: The Global Market is studied from 2023 to 2030.