The global polyurethane (PU) resin market was valued at USD 865.58 million in 2022 and it is predicted to surpass around USD 1,155.39 million by 2032 with a CAGR of 2.93% from 2023 to 2032.
Key Pointers
Report Scope of the Polyurethane (PU) Resin Market
Report Coverage | Details |
Market Size in 2022 | USD 865.58 million |
Revenue Forecast by 2032 | USD 1,155.39 million |
Growth rate from 2023 to 2032 | CAGR of 2.93% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Companies Covered | Covestro AG, BASF SE, Henkel AG, Koninklijke DSM N.V., Dow Polyurethane, Huntsman Corporation, DuPont, Wanhua Chemical Group Co., Shanghai Dongda Polyurethane, Qingdao Xinyutian Chemical |
Rising demand for cut and tear resistance resins and increasing adoption of polyurethane resins for wood and floor coatings are factors expected to drive market revenue growth during the forecast period. Increasing usage of these resins for construction purposes and rising adoption of these resins for sealing, compressing, and insulation of circuit boards of electronic products are some other factors expected to boost market revenue growth during the forecast period.
Polyurethane resins are copolymers that are formed when an alcohol named polyol reacts with an isocyanate when proper additives and catalysts are introduced. Polyurethane resin in the US is expected to increase in volume by about 1.0% yearly, till 2024. They are widely used in cars and industrial applications as it provides high gloss coatings which have increased its adoption in such applications. Rising demand for these resins in commercial projects owing to its advantage of not losing thickness when dried is expected to drive revenue growth of polyurethane resin market. Increasing demand for these products for coating applications in architectural and furniture products are some other factors that are projected to increase adoption of polyurethane resins. This is expected to drive revenue growth of the market in near future. These resins have long shelf life after use, dries quickly, and can also be disposed of without any special precautions which are expected to increase its demand in various industrial projects.
Polyurethane resins are also widely used for the production of thermosets and elastomers which has increased its demand in industrial and commercial applications and is driving revenue growth of the polyurethane resin industry. These resins have better flow properties and can also be easily mixed and processed which makes it applicable for use in diverse industrial applications. This is expected to drive revenue growth of the market. A wide range of diisocyanates and polyols can be reacted to produce polyurethane resins and thus the use of polyurethane resins are numerous and widespread in many industries. Increasing usage of these resins by electronic device manufacturers to fix the parts, and wires and also to secure, insulate, and protect the components of the devices are some other factors expected to drive growth of the market. Polyurethane fibers are blended with nylon to create stretchy, lightweight fabrics and with advances in technology we have PU coatings, thermoplastic elastomers, and spandex. This has led to increased usage of such products in textile industry, which is expected to augment growth of the industry.
The global chemical industry is a complex and important part of the global economy and supply chain networks. Chemical production involves converting raw materials such as fossil fuels, water, minerals, metals, etc. into tens of thousands of different products that are central to modern life as we know it. In 2019, the total revenue of the global chemical industry was about USD 4 trillion. As the chemical industry enters 2022, strong demand for basic chemicals and specialty chemicals is expected to keep prices high throughout the year.
Polyurethane (PU) Resin Market Segmentations:
By Resin Type | By Applications |
Solvent-Based Resin Water-Based Resins Others |
Construction Transportation Pharmaceuticals Paints & Coatings Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Polyurethane (PU) Resin Market
5.1. COVID-19 Landscape: Polyurethane (PU) Resin Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Polyurethane (PU) Resin Market, By Resin Type
8.1. Polyurethane (PU) Resin Market, by Resin Type, 2023-2032
8.1.1. Solvent-Based Resin
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Water-Based Resins
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Polyurethane (PU) Resin Market, By Applications
9.1. Polyurethane (PU) Resin Market, by Applications, 2023-2032
9.1.1. Construction
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Transportation
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Pharmaceuticals
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Paints & Coatings
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Polyurethane (PU) Resin Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.1.2. Market Revenue and Forecast, by Applications (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Applications (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.2.2. Market Revenue and Forecast, by Applications (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Applications (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Applications (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Applications (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Applications (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Applications (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Applications (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.4.2. Market Revenue and Forecast, by Applications (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Applications (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Applications (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Applications (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.5.2. Market Revenue and Forecast, by Applications (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Applications (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Applications (2020-2032)
Chapter 11. Company Profiles
11.1. Covestro AG
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF SE
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Henkel AG
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Koninklijke DSM N.V.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Dow Polyurethane
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Huntsman Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. DuPont
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Wanhua Chemical Group Co.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Shanghai Dongda Polyurethane
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Qingdao Xinyutian Chemical
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms