Polyurethane (Pu) Market Growth Is Driven by Heavy Demand for Polymer Products by 2016 - 2023

Global Polyurethane (PU) Market size was projected at $51.6 billion for 2015 and is anticipated to generate revenue greater than $78 billion by end of forecast timeline. Strong polymer research & development, focusing on high efficacy, sustainable and new items has been crucial for product demand since past few years. Owing to its exceptional performance and light weight features, polyurethane(PU) industry has gained access to many application sectors.

The automotive mass reduction has emerged as a global industry trend in past few years. Current breakthroughs in the corporate average fuel economy have forced vehicle producers to find new methods of minimizing fuel consumption in order to increase sustainability. Automobile sales surpassed 66 million units for 2014 and are anticipated to drive the global polyurethane (PU) industry trends along with best future growth prospects.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/387

However, weak crude oil cues have led to the reduction in prices of polyols and methylene diphenyl diisocyanates and this has to some extent declined global polyurethane (PU) market price trends.

Polyurethane Product Trends

The global polyurethane (PU) industry is segmented into various products like coatings, flexible foams, elastomers, rigid foams and sealants & adhesives. Flexible foams segment contributed higher than $13.1 billion revenue for 2015. They are extensively utilized in automobile seating uses, upholstery and bedding & furniture. Rising disposable salaries and lifestyle demographics in countries like Brazil, China, Russia and India has driven the segment growth and contributed largely towards global polyurethanes market share.

Coatings are extensively utilized in the automobile application, hardwood application and construction application to enhance product appearance and toughness. The segment is projected to register a CAGR of about 5.1% during forecast timeline....