The Europe Polyurethane Market would witness market growth of 4.0% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 2,650.6 kilo tonnes, showcasing a growth of 3.2% (2019-2022).
Polyurethane derived from Methylene Diphenyl Di-isocyanate (MDI) holds a prominent position in various industries due to its exceptional properties. MDI-based polyurethane is extensively utilized in construction, automotive, electronics, and furniture sectors. Its remarkable versatility enables the production of rigid foams for insulation, flexible foams for comfort applications, adhesives, coatings, and elastomers. Thus, France market consumed 646.5 killo tonnes of polyurethane in 2022.
The Germany market dominated the Europe Polyurethane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,423.3 million by 2030. The UK market is exhibiting a CAGR of 3.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 4.7% during (2023 - 2030).
Polyurethane is commonly used to manufacture shoe soles due to its lightweight, abrasion-resistant, and shock-absorbing properties. It provides cushioning and support, enhancing comfort and performance in footwear.
Additionally, due to its biocompatibility, flexibility, and chemical resistance, it is used to produce medical devices such as catheters, tubing, and prosthetics. It meets stringent regulatory standards for medical applications and ensures patient safety and comfort.
Polyurethane materials can be used for constructing and insulating charging station enclosures, cable management systems, and protective covers, contributing to developing robust and weather-resistant infrastructure for EV users. According to the (ITA), in 2022, passenger EV sales in Belgium increased by 39.7 percent year-over-year to 98,356 units, representing an EV penetration rate of 26.9 percent of total new passenger vehicle sales. Battery EV (BEV) sales increased by 72.1 percent year-over-year to 37,815 units. Plug-in hybrid EV (PHEV) sales grew 25 percent to 60,541 units. Thus, the expansion of Europe’s automotive sector will propel the regional market.
Free Valuable Insights: The Global Polyurethane Market will Hit USD 102.3 Billion by 2030, at a CAGR of 4.3%
Based on Raw Material, the market is segmented into Polyols, Toluene Di-isocyanate, Methylene Diphenyl Di-isocyanate, and Others. Based on Application, the market is segmented into Construction, Furniture & Interiors, Electronics & Appliances, Footwear, Automotive, Packaging, and Others. Based on Product, the market is segmented into Rigid Foam, Flexible Foam, Coatings, Adhesives & Sealants, Elastomers, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Raw Material (Volume, Kilo Tonnes, USD Billion,2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion,2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion,2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion,2019-2030)
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