Polyurethane Elastomers Market Analysis | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2023

The Global report on “Polyurethane Elastomers Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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“The increasing demand from the footwear industry in APAC is a key factor fueling the growth of the PU elastomers market.”

The global PU elastomers market is estimated to reach USD 16.63 billion by 2022 from USD 12.47 billion in 2017, at a CAGR of 5.9% from 2017 to 2022. China is the largest producer and consumer of footwear globally. However, there has been a slight shift witnessed in the production of footwear from China to other Asian countries such as India, Indonesia, Vietnam, and others. According to World Footwear, the footwear production share in China has been declined by 2% from 2013.PU elastomers are being increasingly used to manufacture shoe, soles, and slippers. The growing demand for superior performance, abrasion resistance, and excellent appearance & attractiveness driven by rising disposable incomes and growing working class across APAC will increase the demand for PU elastomers. Increasing population and economic prosperity will further drive the footwear production in APAC. For instance, in India the population is projected to rise to 9.3 billion by 2050, which will lead to increased footwear demand and thus, will drive the PU elastomers market. However, hazardous impact on human health as well as environment and high cost of TPU in comparison to other conventional materials are the major restraints for this market.

“The TPU segment of the PU elastomers market is expected to grow at the highest CAGR during the forecast period.”

Among various types of PU elastomers, the TPU segment of the PU elastomers market is expected to grow at the highest CAGR, during the forecast period. TPU is among the most innovative products in the PU elastomer market as it has functional properties of thermoset polyurethane elastomers while possessing the strength of thermoplastics. TPU is the major type of TPE classified on the basis of chemical resistance, heat resistance, and compatibility with other polymers. Due to these properties, TPU is used for a wide range of applications, including footwear, electrical & electronics (cable & wire), hose & tube, automotive & transportation, medical, building & construction, and so on.

“The rising demand for use in various applications is expected to drive the PU elastomers market in the APAC region.”

APAC is expected to be the fastest-growing market for PU elastomers. Developing economies in the region and rapid growth in footwear, automotive, and transportation industries are expected to increase the demand for PU elastomers in the region. In addition, rapid technological advancements in automotive as well as transportation applications and increasing disposable income are encouraging the use of PU elastomers in the region. China, India, Japan, and South Korea are the key markets for PU elastomers in APAC.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.

The breakdown of primary interviews is given below:

  • By Company Type: Tier 1- 58%, Tier 2- 25%, and Others- 17%
  • By Designation: C-level- 33%, Director-level- 42%, and Others- 25%
  • By Region: North America- 50%, Europe- 17%, APAC–17%, South America- 8%, and the Middle East & Africa- 8%

Note 1: Others includes sales, marketing, and product managers.

Note 2: The tier of companies is determined on the basis of their revenue and ownership.

Key companies profiled in this market research report areBASF (Germany), Dow (US), Huntsman (US), Covestro (Germany), Mitsui Chemicals, (Japan), Chemtura Corporation (US), Lubrizol Corporation (US), P+S Polyurethan-Elastomere (Germany), Tosoh (Japan), and Wanhua Chemical (China).

Research Coverage

This report covers the PU elastomers market, in terms of volume and value, and forecasts the market size till 2022. The report includes the market segmentation based on type (thermoset PU elastomers and thermoplastic PU elastomers), application(automotive &transportation, footwear, industrial machinery, and building &construction), and region (APAC, Europe, North America, Middle East & Africa, and South America). The regions have been further segmented based on key countries into the US, Canada, Mexico, Germany, the UK, France, Spain, Italy, Russia, China, Japan, India, South Korea, the UAE, Saudi Arabia, South Africa, Brazil, and Argentina. The report also provides company profiles and competitive strategies adopted by the key players in the PU elastomers market.

The report will help market leaders/new entrants in the global PU elastomers market in the following ways:

  • This report segments the PU elastomers market comprehensively and provides closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
  • It will help stakeholders understand the pulse of the market and provide them information on key market drivers, challenges, restraints, and opportunities.
  • It will help stakeholders understand competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product launches, expansions, acquisitions, and agreements.

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