Flexible Foam Segment to Dominate Asia Pacific Polyurethane Market during 2021-2028
According to a new market research study on “Asia Pacific Polyurethane Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast - by Product, Application and Country,” is expected to reach US$ 54,797.36 million by 2028 from US$ 25,293.66 million in 2021. The market is estimated to grow at a CAGR of 11.7% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific polyurethane market along with the drivers and restraints pertaining to the market growth. Growing need for durable and lightweight materials from several End-use industries is a major factor driving the growth of the Asia Pacific polyurethane market. However, the imposition of stringent regulations on raw material used in polyurethane manufacturing and raw material price volatility may hinder the growth of Asia Pacific polyurethane market.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of polyurethane manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for polyurethane during the early months of 2020. Moreover, decline in the overall resin and polymer manufacturing activities has led to discontinuation of polyurethane manufacturing projects, thereby reducing the demand for polyurethane. Similar trend was witnessed in other Asia Pacific countries, i.e. Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
The market for Asia Pacific polyurethane is segmented into product, application and country. Based on product, the market is segmented into rigid foam, flexible foam, coatings adhesives and sealants, elastomers, and others. In 2020, the flexible foam segment held the largest share in Asia Pacific polyurethane market. Based on application, the Asia Pacific polyurethane is divided into furniture and interiors, construction, electronics and appliances, automotive, footwear, packaging, and others. The construction segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific polyurethane market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. India is expected to be the fastest growing country over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific polyurethane market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for polyurethane.
Covestro AG, The Dow Chemical Company, Lubrizol Corporation, DIC Corporation, BASF SE, Mitsui Chemicals, Inc. Recticel NV, Huntsman Corporation, and Tosoh Corporation are some of the leading companies in the Asia Pacific polyurethane market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of polyurethane manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for polyurethane during the early months of 2020. Moreover, decline in the overall resin and polymer manufacturing activities has led to discontinuation of polyurethane manufacturing projects, thereby reducing the demand for polyurethane. Similar trend was witnessed in other Asia Pacific countries, i.e. Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
The market for Asia Pacific polyurethane is segmented into product, application and country. Based on product, the market is segmented into rigid foam, flexible foam, coatings adhesives and sealants, elastomers, and others. In 2020, the flexible foam segment held the largest share in Asia Pacific polyurethane market. Based on application, the Asia Pacific polyurethane is divided into furniture and interiors, construction, electronics and appliances, automotive, footwear, packaging, and others. The construction segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific polyurethane market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. India is expected to be the fastest growing country over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific polyurethane market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for polyurethane.
Covestro AG, The Dow Chemical Company, Lubrizol Corporation, DIC Corporation, BASF SE, Mitsui Chemicals, Inc. Recticel NV, Huntsman Corporation, and Tosoh Corporation are some of the leading companies in the Asia Pacific polyurethane market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific polyurethane market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific polyurethane market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific polyurethane market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Polyurethane Market Landscape
5. Polyurethane Market - Key Market Dynamics
6. Polyurethane - Asia Pacific Market Analysis
7. Asia Pacific Polyurethane Market Analysis - By Product
8. Asia Pacific Polyurethane Market Analysis - By Application
9. Asia Pacific Polyurethane Market - Country Analysis
10. Impact COVID-19 Pandemic on Asia Pacific Polyurethane Market
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
- Covestro AG
- Huntsman Corporation
- Lubrizol Corporation
- Mitsui Chemicals, Inc.
- BASF SE
- The Dow Chemical Company
- DIC Corporation
- Recticel NV
- Tosoh Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 127 |
| Published | August 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 25293.66 Million |
| Forecasted Market Value ( USD | $ 54796.36 Million |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 9 |
