Segments - Polyurethane Additives Market by Type (Flame Retardants, Blowing Agents, Surfactants, Catalysts, Fillers, Stabilizers, Emulsifiers, and Others), Application (Rigid Foam, Flexible Foam, Adhesives & Sealants, Coatings, Binders, Elastomers, and Others), End-user (Automotive & Transportation, Electronics, Building & Construction, Pharmaceutical, Bedding & Furniture, Packaging, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The global polyurethane additives market size was around USD 3.6 billion in 2021 and is expected to reach USD 4.85 billion by 2030, expanding at a compound annual growth rate (CAGR) of around 4.2% during the forecast period, 2022 to 2030. The market growth is attributed to the increasing demand for polyurethane additives for growing construction activities across the globe.
Polyurethane additives are referred to as additives that determine the performance of polyurethane foams. Polyurethane additives are created through the reaction between polyol and diisocyanates within a suitable catalyst. A wide variety of polyol and diisocyanates are used to create polyurethane. It helps in creating a wide range of materials for specific applications.
Polyurethane additives are increasingly adopted in various industries as a solution to different challenges. Applications for polyurethane additives can range from bedding, mattresses, upholstery, and seating to footwear, seals, gaskets, automotive suspension bushings, carpet underlays, insulation panels, and others.
Various industries such as automotive & transportation, electronics, building & construction, pharmaceuticals, bedding & furniture, packaging, and others have adopted polyurethane additives for their various beneficial features. Polyurethane additives offer a wide range of hardness as well as flexibility. These additives are tear, abrasion, impact, water, oil, and grease resistant.
High load-bearing capacity, wide resiliency range, strong bonding properties, and electrical insulating properties are some of the major beneficial features of polyurethane additives. These additives are mildew, mold, and fungus resistant as well. The adoption of polyurethane additives for various applications is cost-effective, which boosts the demand for polyurethane additives.
COVID-19 affected various industries such as building & construction, automotive, electronics, and bedding & furniture across the globe. The lockdown, social distancing policies, travel restrictions, and other pandemic-related regulations resulted in disruption in the supply chain, unavailability of the workforce, shortage of raw materials, restrictions on logistics, and shutdown of several manufacturing facilities across the globe.
The demand for polyurethane additives decreased, as several industries faced the adverse effects of the pandemic. The polyurethane additives industry faced restrictions on the supply chain, a shortage of the workforce, and the unavailability of raw materials. In recent years, with slack in the pandemic-related restrictions, various industries are expected to register rapid growth. The increasing demand for polyurethane additives for different applications in various industries is projected to propel the global polyurethane additives market in the coming years.
The global polyurethane additives market research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global polyurethane additives market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
Rising demand for biodegradable and recyclable packaging
A rising number of consumers are becoming aware of the negative effects of chemical-based and plastic materials on the environment. Various packaging materials create a huge amount of waste that takes time to degrade. Rapid urbanization, rising disposable income, and the increasing trend of online shopping propel the demand for various types of packaging materials across the globe.
Recyclable and biodegradable packaging materials are key market trends. Growing adoption of environmentally friendly polyurethane additives in biodegradable and recyclable packaging is projected to boost the global polyurethane additives market.
Increasing demand for innovative polyurethane additives
Polyurethane additives are increasingly used as an important component in bedding, furniture cushions, mattresses, automotive interiors, carpet underlay, and others. Polyurethane additives need to pass certain government regulations to be used in various applications in different industries. For instance, fire retardant is one of the most important qualities that polyurethane additives need to have to adhere to government regulations.
Several manufacturers are coming up with innovative polyurethane additives, which are flame retardants that reduce the flammability of polyurethane additives. Growing demand and adoption of innovative polyurethane additives is expected to drive the market during the forecast period.
Fluctuating raw material prices
Polyurethane additives are produced through the reaction of polyols and diisocyanates. Both of these products are derived from crude oil. Fluctuating crude oil prices affect the demand and adoption of polyurethane additives across the globe. Fluctuating raw material prices are estimated to hamper the growth of the global polyurethane additives market in the coming years.
Government policies supporting environment-friendly products
A growing number of people across the globe are becoming increasingly aware of the negative effects of excessive usage of chemicals on the environment. Governments across the globe are increasingly creating policies and taking initiatives to encourage manufacturers to adopt environmentally friendly products and ban the usage of hazardous chemicals. Increasing government policies to push manufacturers to adopt environment-friendly products are anticipated to restrain the global polyurethane additives market growth in the coming years.
Research and development activities offer growth opportunities
Growing demand for innovative polyurethane additives has propelled research and development activities across the globe. Advanced technologies offer environment-friendly polyurethane additives solutions, which are increasingly adopted in various industries. Natural and recyclable resources are used to improve the fire retardant properties of polyurethane additives and make them more environmentally friendly than the chemical war material-based polyurethane additives. This offers growth opportunities to market players across the globe.
The global polyurethane additives market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Polyurethane Additives Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2022–2030 |
Segmentation |
Type (Flame Retardants, Blowing Agents, Surfactants, Catalysts, Fillers, Stabilizers, Emulsifiers, and Others), Application (Rigid Foam, Flexible Foam, Adhesives & Sealants, Coatings, Binders, Elastomers, and Others), and End-user (Automotive & Transportation, Electronics, Building & Construction, Pharmaceutical, Bedding & Furniture, Packaging, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Huntsman International LLC; Covestro AG; Evonik Industries AG; Air Products and Chemicals, Inc.; BASF SE; Eco-mobilier; Vita (Holdings) Limited; Dow (The Dow Chemical Company); LANXESS; Tosoh Corporation; Albemarle Corporation; Momentive; ALTANA (BYK); Eastman Chemical Company; Gulbrandsen; Everlight Chemical Industrial Co.; Pon Pure Chemicals Group; Synasia; Kao Corporation; Suzhou Xiangyuan Speical Fine Chemical Co., Ltd.; and Others |
On the basis of type, the global polyurethane additives market is divided into flame retardants, blowing agents, surfactants, catalysts, fillers, stabilizers, emulsifiers, and others. The flame retardant segment is expected to register rapid growth during the forecast period, due to the increasing adoption of polyurethane additives in various industries for its flame retardant properties.
Various flame retardants such as brominated flame retardants, chlorinated flame retardants, inorganic flame retardants, and phosphorous flame retardants are used to manufacture flame retardants polyurethane additives, which are used in industries such as automotive, electronics, construction, and others.
In terms of application, the global polyurethane market is segregated into rigid foam, flexible foam, adhesives & sealants, coatings, binders, elastomers, and others. The flexible foam segment is projected to hold a key market share during the forecast period, due to the increasing adoption of polyurethane flexible foam for different applications in various industries such as automotive and furniture. Flexible foam enhances the comfort features of mattresses, automobile seating, upholstered furniture, and others.
The rigid foam segment is anticipated to hold a high market share in the coming years, owing to the increasing adoption of rigid foam in the building and construction industry across the globe. Rigid polyurethane foam improves the insulation properties of construction materials. Rigid foam is used in refrigerator insulation as well. Polyurethane rigid foams are used as catalysts, antioxidants, stabilizers, fillers, flame retardants, and emulsifiers, which boosts the segment growth.
Based on end-user, the global polyurethane additives market is divided into automotive & transportation, electronics, building & construction, pharmaceutical, bedding & furniture, packaging, and others. The automotive & transportation segment is estimated to register a high CAGR during the forecast period, as the automotive industry increasingly adopts polyurethane additives for a variety of applications.
Polyurethane foam is commonly used in headrests, seating, HVAC, armrests, and other interior systems in different vehicles such as buses, trains, and airplanes. Seating is considered one of the largest applications for polyurethane additives in the automotive & transportation industry. Coatings of polyurethane additives offer high gloss, scratch resistance, high gloss, sound absorption, and corrosion resistance properties to vehicle exteriors.
The coatings are used to glaze the windows and windshields of vehicles as well. More than 90% of vehicles are manufactured with bonded windshields as well as rear windows using polyurethane additives. Rising disposable income and increasing demand for various types of automobiles propel the demand for polyurethane additives in the automotive & transportation industry across the globe.
The bedding & furniture segment is anticipated to show rapid growth in the coming years, owing to the increasing adoption of high-quality polyurethane foams in the manufacturing of bedding and furniture seating. Rapid urbanization, increasing population, and rising disposable income across the globe have propelled the demand for durable and high-quality furniture and bedding. Increasing awareness regarding the health benefits of good sleep and posture boosts the bedding & furniture segment and spurs the demand for polyurethane additives across the globe.
The building & construction segment is projected to hold a key market share during the forecast period, owing to rapid urbanization and increasing population across the globe. A growing number of global construction activities propel the demand for polyurethane additives across the globe.
On the basis of region, the global polyurethane additives market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The polyurethane additives market in Asia Pacific is expected to register a high CAGR during the forecast period, owing to the growing construction industry across the region. For instance, the construction industry dominates all other industries in China.
Increasing demand for furniture in the country as well as in other countries boosts the growth of the furniture manufacturing industry in China. Growing automotive production, the rising popularity of electric vehicles, and supportive government policies regarding electric and hybrid vehicles facilitate the expansion of the polyurethane additives market in Asia Pacific.
The market in Middle East & Africa is anticipated to expand at a significant pace, due to the increasing adoption of polyurethane additives in a number of applications in various industries such as automotive and construction in the region. Increasing demand for vehicles and rising disposable income among consumers are some of the major reasons boosting the polyurethane additives market in Middle East & Africa.
The global polyurethane additives market has been segmented on the basis of
Key players competing in the global polyurethane additives market are Huntsman International LLC; Covestro AG; Evonik Industries AG; Air Products and Chemicals, Inc.; BASF SE; Eco-mobilier; Vita (Holdings) Limited; Dow (The Dow Chemical Company); LANXESS; Tosoh Corporation; Albemarle Corporation; Momentive; ALTANA (BYK); Eastman Chemical Company; Gulbrandsen; Everlight Chemical Industrial Co.; Pon Pure Chemicals Group; Synasia; Kao Corporation; Suzhou Xiangyuan Speical Fine Chemical Co., Ltd.; and others. Some of these major companies have adopted various business development strategies including acquisitions, mergers, collaborations, partnerships, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
Huntsman International LLC; Covestro AG; Evonik Industries AG; Air Products and Chemicals, Inc.; BASF SE; Eco-mobilier; Vita (Holdings) Limited; Dow (The Dow Chemical Company); LANXESS; Tosoh Corporation; Albemarle Corporation; Momentive; ALTANA (BYK); Eastman Chemical Company; Gulbrandsen; Everlight Chemical Industrial Co.; Pon Pure Chemicals Group; Synasia; Kao Corporation; and Suzhou Xiangyuan Speical Fine Chemical Co., Ltd. are some of the key players in the global polyurethane additives market.
Asia Pacific dominates the global polyurethane additives market.
Type, application, end-user, and region are the segments provided in the global polyurethane additives market report.
The global polyurethane additives market size was valued at around USD 3.6 billion in 2021 and is anticipated to reach around USD 4.85 billion by 2030.
The global polyurethane additives market is estimated to register a CAGR of around 4.2% during the forecast period.