Polyurethane Market Growth Forecasts - A USD 94.59 Bn Industry Opportunity By 2028

The global polyurethane market size was valued at USD 70.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028.

Polyurethane Industry Overview

The global polyurethane market size was valued at USD 70.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028. 

Increasing demand for building insulation in light of sustainability concerns is expected to escalate the product demand over the forecast period. Sustainability in building developments is a vast field and encompasses several steps that must be implemented in the primary construction stages since their potential environmental impact is quite significant. Green buildings are thus increasingly entering the construction market due to increasing investments in smart energy-efficient commercial and residential buildings. These buildings not only offer profitable opportunities but are also acceptable by environmental and federal regulations, providing a meaningful response to growing consumer expectations for sustainability.

Gather more insights about the market drivers, restrains and growth of the Global Polyurethane Market

Increased effectiveness in building materials has ultimately generated higher demand for efficient insulating materials to regulate Heating, Ventilation, And Air Conditioning (HVAC) and counteract the amount of energy lost due to inefficient insulation. Polyurethane (PU) foams are subsequently being utilized as extremely efficient insulation materials, leading to greater energy saving.

The rising product demand from the automotive, construction and packaging sectors in the U.S. is expected to drive the market over the forecast period. The construction sector in the U.S. is expanding a;t a significant rate owing to positive market fundamentals for commercial real estate along with rising state and federal funding for institutional buildings and public works. Moreover, the ongoing construction projects, such as the construction of the South San Francisco Civic Center campus, LaGuardia Airport Construction Project, O’Hare Airport Construction Project, and Second Avenue Subway Construction Project, are expected to fuel the product demand in construction applications in the coming years.

Furthermore, the USD 2 trillion investment was announced by the U.S. government in March 2020 for the development of hospital buildings, roads, and other infrastructure, which is expected to further foster market growth in the country. However, growing environmental concern is anticipated to hamper the PU demand over the forecast period. Developed countries such as the U.S., Canada, the U.K., and Germany have reduced carbon emissions over the past few years owing to stringent government regulations for environmental concerns.

The raw materials associated with PU production, such as TDI MDI, are themselves deemed hazardous to the environment due to the industrial release of TDI that pollutes the air. Environment Canada and Health Canada have assessed TDI levels and concluded that their concentration is hazardous to human health. To ensure sound environmental management of TDI releases, Environment Canada has published a Pollution Prevention (P2) Planning Notice. Furthermore, landfills in Europe, especially waste tires and PU products, have been banned to exploit the vast potential of PU as a source of energy similar to coal, while also preventing environmental pollution.

Browse through Grand View Research's Plastics, Polymers Resins Industry Research Reports.

  • Green Building Market The global green building market is anticipated to grow at a lucrative rate during the forecast period. Green building or sustainable construction is referred to structures that are environmentally responsible and energy-efficient throughout its life cycle.
  • Plastic Market - The global plastic market size was valued at USD 593.00 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 3.7% from 2022 to 2030.

Polyurethane Market Segmentation

Grand View Research has segmented the global polyurethane market on the basis of product, application, and region:

PU Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

  • Rigid Foam
  • Flexible Foam
  • Coatings
  • Adhesives Sealants
  • Elastomers
  • Others

PU Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

  • Furniture Interiors
  • Construction
  • Electronics Appliances
  • Automotive
  • Footwear
  • Packaging
  • Others

PU Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Central South America
  • Middle East Africa

Market Share Insights

  • October 2021: Huntsman Corp., a specialty chemicals and materials manufacturer, is set to launch the latest joint venture, Huntsman Polyurethanes Automotive Co. Ltd., with KPX Chemical, a Korean polyols supplier, for the development of new innovative polyurethane systems solutions to be used in Korea’s auto industry.
  • January 2020: RAMPF Holding GmbH Co. KG showcased an electronic casing made of PU resin, which helps in cooling electronic devices.

Key Companies profiled:

Some prominent players in the global polyurethane market include

  • Dow Inc.
  • Covestro AG
  • Huntsman International LLC
  • Eastman Chemical Company
  • Mitsui Co. Plastics Ltd
  • Mitsubishi Chemical Corporation
  • Recticel NV/SA
  • Woodbridge
  • DIC Corporation
  • RTP Company
  • The Lubrizol Corporation
  • RAMPF Holding GmbH Co. KG
  • Tosoh Corporation

Order a free sample PDF of the Polyurethane Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.


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