Table of Contents
Polyurethane elastomers can be processed on extrusion as well as injection, blow and compression molding equipment’s. Europe, Asia Pacific and the United States dominate the polyurethane market contributing around 95% of the global market. China is the largest market in Asia Pacific and one of the leading countries in terms of production and consumption of polyurethane elastomers. It accounted for over 25% of the global market and over 50% of the Asia Pacific market in 2012 which makes Asia Pacific the leading and the fastest soaring market estimated to grow with a CAGR of 6% in the years 2014-2020. As a whole, the polyurethane market is expected to cross $73 billion by 2020.
The global market is projected to reach 9.5 million tons by the year 2015 driven by active demand from construction, furniture and automotive markets. Thermosetting elastomers and thermoplastic elastomers are the two types of the PU elastomers of which thermosetting hold the largest market share of around 75%. Apart from its outstanding toughness, durability and processing ease PU elastomer is a versatile performer that bridges the gap between rubber and plastics
The major producing and consuming regions in the polyurethane elastomers market are China, Europe and the United States. Also, it is assumed that Asia Pacific will continue to dominate the industry in the years 2014-2020. Over one-third of the global application of PU elastomers is the production of footwear followed by the furniture and interiors and the automotive industry.
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