DUBLIN–(BUSINESS WIRE)–The "Polyurethane Additives Market by Type (Catalysts, Surfactants, Filler, Flame retardants, and others), Application (Foams, Adhesives & Sealants, Coatings, Elastomers), End-use Industry and Region – Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global market size of polyurethane additives is estimated at USD 3.7 billion in 2020 and is projected to reach USD 4.5 billion by 2025, at a CAGR of 4.2%
The growing demand for innovative and cost-effective additives along with the increasing demand for polyurethane additives in the construction industry of the emerging countries is driving the demand for polyurethane additives. The industrial development in emerging countries and the growing demand for environment-friendly polyurethane additives have created a growth opportunity for the polyurethanes market. However, the volatility in raw material prices and the recyclability of polyurethane additives are hampering the growth of the market. The increasing regulatory pressure for shifting towards eco-friendly products is creating a challenge for the polyurethane additives market.
The flame retardants type segment to register the fastest growth during the forecast period.
Flame retardants of concern include organohalogen and organophosphate chemicals such as polybrominated diphenyl ethers (PBDEs) and chlorinated tris (TDCPP). There are various types of flame retardants such as brominated flame retardants, chlorinated flame retardants, phosphorous-based flame retardants, and some inorganic flame retardants. These are used to produce high-quality polyurethanes that are used in various applications such as electronics, automobiles, and building & construction.
The foams application to be the largest consumer of polyurethane additives.
Polyurethane foams are manufactured by reacting polyols and isocyanates in the presence of a blowing agent and an amine catalyst. The blowing agent is carbon dioxide, which is formed as a by-product of the reaction between water and isocyanate. The amine catalyst is known to accelerate the reaction. Polyurethane foams are of two types, namely rigid polyurethane foam and flexible polyurethane foam. Foams offer various properties such as comfort and insulating properties when used in various industries such as automotive and building & construction, which is driving the market.
The automotive & transportation industry to be the largest consumer of polyurethane additives.
Polyurethanes are used in various parts of an automobile. In addition to the foam that makes car seats comfortable, bumpers, interior headline ceiling sections, the car body, spoilers, doors and windows all use polyurethanes. Polyurethane enables manufacturers to provide drivers and passengers significantly more automobile mileage by reducing weight and increasing fuel economy, comfort, corrosion resistance, insulation, and sound absorption.
APAC is projected to be the largest polyurethane additives market during the forecast period.
The polyurethane additives market in APAC is projected to register the highest CAGR during the forecast period. The foams market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth.
- Increasing Demand for Innovative and Cost-Effective Additives
- Growing Use in the Construction Industry
- New Applications of Polyurethane Additives
- Volatility in Raw Material Prices
- Recyclability of Polyurethane Additives
- Emerging Market for Environment-Friendly Polyurethane Additives
- Industrial Development in Emerging Countries
- Increasing Regulatory Pressure on the Usage of Eco-Friendly Products
- Evonik Industries
- Huntsman Corporation
- Dow Inc.
- Lanxess AG
- Albemarle Corporation
- Tosoh Corporation
- Eastman Chemical Company
- Clariant AG
- Gulbrandsen Chemical, Inc.
- Struktol Company of America, LLC
- Air Products & Chemicals
- Pon Pure Chemicals Group
- Liberty Chemicals
- Everlight Chemical
- Milliken & Company
- Shepherd Chemical Company
- Zhejiang Wansheng Co. Ltd.
- Yangzhou Dajiang Chemical Co. Ltd.
- Hejia Chemical
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