According to a new report, published by KBV research, The Global Polyurethane Market size is expected to reach $102.3 billion by 2030, rising at a market growth of 4.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 29,519.9 kilo tonnes, experiencing a growth of 3.5% (2019-2022).
The Toluene Di-isocyanate segment is registering a CAGR of 5.1% during (2023 - 2030). Ongoing research and development efforts in the polyurethane market led to innovations in TDI production processes and formulations. These advancements improve product quality, performance, and cost-effectiveness, making TDI-based polyurethane more attractive to manufacturers and end-users. Therefore, owing to these factors, the segment will expand rapidly in the upcoming years.
The Construction segment is leading the Global Polyurethane market. thereby, achieving a market value of $22.1 billion by 2030. Polyurethane foam is highly regarded for its excellent insulation properties. In construction, insulation is crucial for maintaining comfortable indoor temperatures, reducing energy consumption, and meeting building code requirements. Whether used in spray foam or rigid board form, polyurethane foam insulation has a high R-value, effectively closes gaps, and is the material of choice for residential and commercial structures. Hence, the segment will expand rapidly in the coming years.
The Flexible Foam segment would showcase a CAGR of 3.9% during (2023 - 2030). Due to its exceptional comfort and support properties, flexible polyurethane foam is widely used in comfort applications such as mattresses, pillows, cushions, and upholstery. As consumer preferences continue prioritizing comfort and sleep quality, the demand for flexible foam products in the bedding and furniture industries is rising. Hence, these factors will fuel the demand in the segment.
Full Report: https://www.kbvresearch.com/polyurethane-market/
The Asia Pacific region dominated the Global Polyurethane Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $58.5 billion by 2030. The North America region is experiencing a CAGR of 3.7% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 4% during (2023 - 2030).
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 Geography (Volume, Kilo Tonnes, USD Billion,2019-2030)
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