According to the industry analysis report titled ‘Global Polyurethanes (PU) Market 2022-2028’, available with MarketStudyReport, global polyurethanes (PU) market is anticipated to record a compound annual growth rate of 6.4% over the forecast timeframe and accumulate USD 83,487 million by the end of 2028.

As per the findings of the report, growth of global polyurethanes (PU) market is primarily driven by rapid product uptake across different verticals including footwear, electronic products, synthetic leather, bedding, adhesives, and textiles on the back of notable properties such as hydrolysis resistance, elasticity, strength, adhesion, and hardness.

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Apart from the drivers and opportunities, the research literature also touches on the existing and upcoming challenges, along with solutions for the same. It also factors in the market augmentation history and current business landscape to deliver credible projections for growth rate, size, revenue share, and other important variables.

Considering the geographical analysis, worldwide polyurethanes (PU) industry size spans across North America, Europe, and Asia Pacific. Each regional scenario is carefully examined in the document for stakeholders to identify untapped market to amplify their revenue margins. 

This business sphere is also studied from the perspective of type (thermosetting, thermoplastic), material terrain (polyols, methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), others), end user scope (electronics & appliances, furniture, footwear, transportation, building & construction, others), and application spectrum (flexible foam, adhesives & sealants, coatings, rigid foam, elastomers, others).

Considering the application spectrum, the flexible foam segment was a prime contributor to overall industry remuneration in 2021.  In a similar fashion, the other sub-markets are individually assessed to impart a broader understanding of this domain.

Speaking of the competitive landscape, leading players influencing the global polyurethanes industry dynamics are Lanxess AG, Huntsman Corporation, BASF SE, Dow Inc., Carlisle Polyurethane Systems, INOAC Corporation, Tosoh Corporation, Wanhua Chemical Group Co. Ltd., C.O.I.M. S.p.A., Covestro AG, and Mitsui Chemicals & SKC Polyurethanes Inc. (MCNS).