Polyurethane Additives Market is expected to generate a revenue of USD 5.52 billion, Size, Share and Forecast to 2029 | BASF SE, Evonik Industries AG, Covestro AG, Kao Corporation

The global market for Polyurethane Additives estimated at USD 3.5 billion in 2022, is projected to reach a revised size of USD 5.52 billion by 2029 registering a compounded annual growth rate (CAGR) of 5.2% over the period 2023-2029.

The latest report titled Polyurethane Additives Market contains wide-broadening quantifiable facts of the market and studies current industry circumstances on a large scale to offer the market consequences, market value, and growth valuation. The report includes skilful examination, data on the overall market, as well as constraints and headway purposes of the future along with a noteworthy perception of the improvement of the global Polyurethane Additives market.

The report describes the profile of the top manufacturers of the global Polyurethane Additives market. It also covers segments such as competitor segment, product type segment, end use/application segment, and geography segment. The authors of the report have examined market demand, turnover, production and growth potential, geographic analysis, as well as current market developments in various regions and countries.

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Polyurethane Additives Market Drivers

Increasing Building and Construction Activities will Drive the Market Growth

Polyurethanes are used in the building and construction industry to create high-performance materials that are solid yet lightweight, perform well, and are robust and flexible. As a result, demand for polyurethane additives is expected to rise in the near future as the building and construction industry expands. Over the last few years, construction activities in different regions have increased significantly. According to the United States Census Bureau, the federal government spent US$ 1,369.2 billion on total construction activities in January 2022, up 1.8 percent from US$ 1,345.5 billion in December 2022. In 2022, the US government invested $977,366 million on overall private construction and 328,669 million on overall public construction. Also, between 2020 and 2022, the construction industry is expected to expand at a real-terms annual rate of 5% as per the International Trade Administration. Thus, with an increase in construction activities, rise in the demand for polyurethane additives is witnessed over the forecast period.

Polyurethane Additives Market Challenges

Volatility in Raw Material Prices

The majority of the raw materials used to produce polyurethane comes from crude oil. Brent crude oil spot prices in 2022 averaged USD 40 per barrel in June, up by USD 11 per barrel from May and USD 22 per barrel from multiyear lows in April, according to the US EIA (Energy Information Administration). As OPEC producers agreed to extend the deepest production cuts through July, prices soared, and several locations that had been on lockdown requested more liquid fuels. Global oil inventories fell for the first time in June 2022 since December 2022, according to the EIA, due to supply reductions and increasing demand. The global oil inventory reached 8.4 million barrels per day, resulting in a dramatic drop in crude oil prices. Thus, fluctuating crude oil prices would affect the raw material prices for polyurethane additives and will hamper the growth of the market.

Competitive Assessment:

The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Polyurethane Additives market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.

Leading market players in the Polyurethane Additives market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Polyurethane Additives market is BASF SE, Evonik Industries AG, Covestro AG, Kao Corporation, Tosoh Corporation, Huntsman International LLC, Momentive, The Dow Chemical Company, Air Products and Chemicals, Inc., Suzhou Xiangyuan Special Fine Chemical Co., Ltd. and others.

Polyurethane Additives Market Recent Developments

In Dec 2021, Covestro and Eco-Mobilier partnered to collect and recycle used furniture to generate value aiming at mattresses and upholsteries. Both parties want to further develop waste markets for foam used in such applications, to enable its use in chemical recycling processes with high efficiency at an industrial level.
In Dec 2021, BASF launched Elastollan Thermoplastic Polyurethane (TPU) for applications in fashion consumables, furniture, and automotive segments.
In Nov 2021, Evonik partnered with The Vita Group for an efficient polyurethane mattress recycling process.

Polyurethane Additives Market Segmentation:

Polyurethane Additives Market by Type, 2023-2029, (USD Million)

Surfactants

Catalyst

Fillers

Flame Retardant

Others

Polyurethane Additives Market by Application, 2023-2029, (USD Million)

Foam

Adhesives and Sealants

Coatings

Elastomers

Binders

Polyurethane Additives Market by End User, 2023-2029, (USD Million)

Furniture

Automotive and Transportation

Building and Construction

Electronics

Pharmaceutical

Others

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Regional Framework

The Polyurethane Additives Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the years 2023-2029 with respect to five major regions. The market by each region is later sub-segmented by respective countries and segments. The Polyurethane Additives market report covers the analysis and forecast globally along with the current trend and opportunities prevailing in the region.

⇨ North America (United States, Canada, and Mexico)

⇨ Europe (Germany, France, UK, Russia, and Italy)

⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

⇨ South America (Brazil, Argentina, Colombia, etc.)

⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

This Report Also Includes:

» Polyurethane Additives Market Insights methodology

» Tactics and suggestions for new entrants

» Segmentation analysis

» Economic indices

» Companies' strategic developments

» Polyurethane Additives Market growth drivers and restraints

» Selected illustrations of the market penetrations and trends

Crucial insights in Polyurethane Additives research report:

Underlying macro- and microeconomic factors impacting the Sales of Polyurethane Additives.
Basic overview of the Polyurethane Additives, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Polyurethane Additives across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.

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The Study Objectives are:

✔ An in-depth look at the key players in the Polyurethane Additives market, as well as the data that goes with them.

✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.

✔ Regional analysis, which includes information on the dominant Polyurethane Additives market and its share of the market.

✔ It also includes various socioeconomic factors that influence the market's evolution in the region.

✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.

Key questions answered in the report:
✦ What is the Polyurethane Additives market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Polyurethane Additives Market in the coming years?
✦ What are the most significant challenges that the global Polyurethane Additives Markets may face in the future?
✦ What are the top companies in the global Polyurethane Additives market?
✦ What are the main trends that are positively impacting the market's growth?

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