According to the report titled ‘Global Industrial PU Elastomers Market Size study, by Type (Thermoset PU Elastomer, Thermoplastic PU Elastomer) by End-Use Industrial (Transportation, Industrial, Mining Equipment, Building & Construction, Medical) and Regional Forecasts 2021-2027’, available with Market Study Report, worldwide industrial PU elastomers market is anticipated to record a compound annual growth rate of 5.6% over 2021-2027.
 

Properties of PU elastomers including chemical resistance, high load bearing capacity, tear & abrasion resistance, and superior dynamic performance, which in turn help in reduction of total transportation weight are stimulating the progress of global industrial PU elastomers market.
 

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For the unversed, polyurethane (PU) elastomers are types of polymers used in different industries in the form of components like O-rings, seals, gaskets, just to name a few.
 

On the contrary, high cost of thermoplastic PU elastomers as compared to other conventional materials, and fluctuations in the prices of raw materials are likely to impede the industry development over the forecast timeline.
 

By type, worldwide industrial PU elastomers market is segmented into thermoset PU elastomer, and thermoplastic PU elastomers. On the basis of end use spectrum, the industry is split into industrial, mining equipment, building & construction, medical, and transportation.
 

The report cites that medical segment is slated to witness a robust growth through 2027, as PU elastomers are used in several medical applications like wound care products, catheters, medical devices, and others. The material possesses outstanding chemical and mechanical qualities which is ideal for the medical applications.
 

The geographical landscape of the industry is defined by regions such as Europe, Asia Pacific, Latin America, and Europe. Asia Pacific market is anticipated to flourish at a significant rate in the ensuing years, due to the shifting of manufacturing facilities of PU elastomers from Europe to countries like China and India.
 

Companies influencing the global industrial PU elastomers market dynamics are Lanxess AG, Dow Inc., Wanhua Chemical Group Co. Ltd., Notedome Ltd., Mitsui Chemicals Inc., Era Polymers Pty Ltd., BASF SE, Covestro AG, and Lubrizol Corporation.