Global Polyurethane Resin
Market Report
2025
Polyurethane Resin Market revenues were estimated to be USD $829.1 Million in 2022 and it is expected to reach USD $916.1 Million by 2030, Rising at a CAGR of 3.2% during the forecast period of 2023-2030.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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The Global Polyurethane Resin Market revenues were estimated to be USD $829.1 Million in 2022 and it is expected to reach USD $916.1 Million by 2030, Rising at a CAGR of 3.2% during the forecast period of 2023-2030.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Polyurethane Resin Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 121212 | 3.2% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Resin Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Polyurethane Resin Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Polyurethane resin is a versatile synthetic material that belongs to the polymeric resin family. It is derived from the reaction of isocyanates with polyols, resulting in the formation of a polymer with urethane linkages. Polyurethane resin is widely used in various industries due to its desirable properties, such as Versatility, Durability, Adhesive properties, Elasticity and flexibility, Thermal and electrical insulation and Mold ability.
Applications of polyurethane resin span across several industries, including automotive, construction, furniture, electronics, footwear, coatings, and adhesives. Some common uses include automotive parts, insulation materials, furniture padding, footwear soles, coatings and paints, synthetic leather, and flexible foams for mattresses and cushions.
Market Dynamics of the Polyurethane Resin Market
Increasing Demand from Various End-Use Industries drives the Market
The automotive industry is a significant consumer of polyurethane resin. Polyurethane is used in various automotive components, such as interior trim, seating, dashboard, door panels, and bumpers. The lightweight, durable, and energy-absorbing properties of polyurethane make it an ideal choice for improving fuel efficiency, safety, and comfort in automobiles.
The construction industry is a major consumer of polyurethane resin, particularly in the form of insulation materials. Polyurethane foam insulation is widely used in residential and commercial buildings for thermal insulation, air sealing, and moisture resistance. The demand for energy-efficient buildings and sustainable construction practices has driven the use of polyurethane insulation materials.
Polyurethane foam is extensively used in the furniture and bedding industry due to its comfort, durability, and versatility. Polyurethane foam is used in mattresses, sofas, cushions, and upholstery, providing support and comfort to consumers. The growing demand for comfortable and stylish furniture has led to an increased use of polyurethane resin in this industry.
Polyurethane resin is used in the electronics and appliances industry for various applications, including encapsulation of electronic components, insulation of wires and cables, and potting of electrical devices. The excellent electrical insulation properties and protection against moisture and chemicals make polyurethane resin suitable for electronic applications.
Polyurethane resin is widely used in the footwear industry for the production of shoe soles and uppers. Polyurethane soles offer excellent cushioning, flexibility, and durability, making them popular in athletic shoes, casual footwear, and safety shoes. The footwear industry's demand for lightweight, comfortable, and long-lasting materials has driven the use of polyurethane resin.
Polyurethane resin is used in the coatings and adhesives industry due to its excellent adhesion, chemical resistance, and durability. Polyurethane coatings are applied to surfaces for protection against corrosion, weathering, and abrasion. Polyurethane adhesives are used for bonding various substrates in industries such as automotive, construction, and packaging.
Polyurethane foam is used in the packaging industry for cushioning and protecting fragile goods during transportation. Polyurethane foam offers excellent shock absorption and impact resistance, ensuring the safe delivery of sensitive and delicate products.
The growth of these end-use industries, driven by factors such as population growth, urbanization, infrastructure development, consumer preferences, and technological advancements, contributes to the increasing demand for polyurethane resin globally.
Restraining Factor:
One of the significant restraints on the global polyurethane resin market is the volatility in raw material prices. The prices of key raw materials used in polyurethane resin production, such as isocyanates (MDI, TDI) and polyols, can be subject to fluctuations due to various factors, including supply-demand dynamics, geopolitical events, natural disasters, and market speculation.
Fluctuating raw material prices directly affect the cost of production for polyurethane resin manufacturers. When prices of raw materials increase, it can lead to higher production costs, which may be difficult to pass on entirely to customers. This can squeeze profit margins and potentially impact the competitiveness of polyurethane resin in the market.
Volatile raw material prices can make it challenging for manufacturers to stabilize their pricing strategies. Rapid price changes in raw materials make it difficult to set consistent and predictable prices for polyurethane resin products. This can create uncertainties for both manufacturers and buyers, impacting business planning and decision-making.
Significant price fluctuations in raw materials can disrupt the entire supply chain of polyurethane resin. Manufacturers may face challenges in securing a reliable and consistent supply of raw materials at reasonable prices. This can lead to production delays, increased lead times, and potential disruptions in the availability of polyurethane resin products.
In a highly competitive market, manufacturers often face pressure to maintain competitive pricing for their polyurethane resin products. However, if raw material prices experience substantial volatility, it can impact the final product's pricing. Manufacturers may need to adjust their pricing strategy to reflect the increased raw material costs, which can affect their competitiveness in the market.
Volatile raw material prices can have implications for the profitability of polyurethane resin manufacturers. Sustained periods of high raw material prices without corresponding increases in product prices can erode profit margins. This can impact investment decisions, research and development initiatives, and expansion plans within the industry.
Current Trends on Polyurethane Resin:
Industries such as automotive, aerospace, and transportation are increasingly focused on reducing weight to improve fuel efficiency and overall performance. High-performance polyurethane resins offer lightweight solutions without compromising on mechanical strength, making them desirable for applications such as structural components, composites, and lightweight panels.
High-performance polyurethane resins exhibit excellent mechanical properties, including high tensile strength, impact resistance, and dimensional stability. These resins can withstand harsh operating conditions, vibrations, and dynamic loads, making them suitable for demanding applications in industries like automotive, construction, and sports equipment.
Polyurethane resins with enhanced temperature resistance find applications in industries where exposure to high or low temperatures is a critical factor. For example, in the automotive sector, polyurethane resins are used in engine components, under-the-hood parts, and electrical systems due to their ability to withstand high temperatures without compromising performance.
High-performance polyurethane resins with flame retardant properties are in demand in industries where fire safety is crucial, such as transportation, electronics, and building materials. These resins offer excellent flame resistance, low smoke generation, and self-extinguishing properties, making them suitable for applications requiring compliance with fire safety regulations.
Some industries, such as oil and gas, chemical processing, and marine, require materials that can withstand exposure to various chemicals and harsh environments. High-performance polyurethane resins exhibit excellent chemical resistance, making them suitable for applications such as coatings, linings, and seals in these demanding industries.
High-performance polyurethane resins offer exceptional durability, longevity, and resistance to wear and tear. These resins are used in applications that require long service life, such as automotive components, industrial equipment, and infrastructure materials. Their resistance to abrasion, impact, and environmental factors contributes to extended product lifecycles.
High-performance polyurethane resins can be customized and formulated to meet specific application requirements. Manufacturers can adjust the resin's composition, additives, and processing parameters to achieve desired properties and performance characteristics. This flexibility allows for tailored solutions that meet the unique needs of different industries and applications.
The demand for high-performance polyurethane resins is driven by industries' requirements for lightweight materials, superior mechanical properties, temperature resistance, flame retardancy, chemical resistance, durability, and customization options. As industries continue to push for advanced materials with exceptional performance, the demand for high-performance polyurethane resins is expected to grow further.
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Recent Developments:
July 2022
Materials science company Dow Chemical Co. (Midland, Mich., U.S. and Horgen Switzerland) and Magnum Venus Products (MVP, Knoxville, Tenn., U.S.), a global manufacturer of fluid movement and production solutions for industrial applications, introduce a new polyurethane-enabled chemistry delivered by a three-component injection system using a Fast Flow Light RTM (LRTM) process.
Impact of the COVID-19 pandemic on the Polyurethane Resin Market:
The pandemic disrupted global supply chains, causing temporary shutdowns of manufacturing facilities, logistics challenges, and reduced availability of raw materials. Restrictions on transportation and trade, as well as labor shortages, affected the supply of polyurethane resin and related products.
Several key end-use industries of polyurethane resin, such as automotive, construction, and furniture, experienced a significant decline in demand during the pandemic. Lockdown measures, economic uncertainties, and reduced consumer spending negatively impacted these industries, resulting in decreased demand for polyurethane resin.
The construction industry faced challenges due to project delays, workforce limitations, and reduced investments during the pandemic. This slowdown in construction activities directly impacted the demand for polyurethane resin used in insulation, coatings, and sealants for buildings.
The automotive industry was severely affected by the pandemic, with production disruptions, dealership closures, and decreased consumer demand. This had a direct impact on the demand for polyurethane resin used in automotive components, interior applications, and adhesives.
The pandemic led to changes in consumer behavior, with a shift towards essential goods and a reduction in non-essential purchases. This affected industries such as furniture and bedding, where the demand for polyurethane foam used in these applications decreased.
On the other hand, the packaging industry witnessed increased demand due to a surge in e-commerce and food delivery services. Polyurethane resin is used in protective packaging materials, coatings, and adhesives for packaging applications. Additionally, the healthcare sector experienced heightened demand for medical supplies and equipment, some of which incorporate polyurethane resin.
The pandemic highlighted the importance of health and safety considerations. There was an increased emphasis on cleanliness, hygiene, and infection control. In response, there was a growing demand for antimicrobial coatings and surfaces, where polyurethane resin-based solutions could be utilized.
Despite the challenges, the polyurethane resin industry demonstrated resilience and adaptability. Manufacturers implemented measures to ensure employee safety, maintain supply chains, and optimize production. Some manufacturers shifted their production capacities to support the production of essential goods such as personal protective equipment (PPE) and medical supplies.
Top Companies Market Share in Polyurethane Resin Industry: (In no particular order of Rank)
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North America Polyurethane Resin market expected to grow at the fastest growth rate during the forecast period
North America has been a mature market for polyurethane resins, with a well-established industry presence. The market size has been substantial, driven by the region's robust manufacturing sectors, including automotive, construction, furniture, and appliances.
The North America polyurethane resin market is served by several major players in the industry. These include both global multinational companies and regional manufacturers. Key players in the market may vary but can include companies like Dow Inc., Covestro AG, Huntsman Corporation, BASF SE, and Momentive Performance Materials Inc.
North America has regulations in place regarding the use and handling of polyurethane resins, particularly with regard to environmental impact, worker safety, and chemical emissions. Sustainability and environmental considerations have also led to the adoption of more eco-friendly alternatives and practices in the industry.
North America may have imports of polyurethane resins to meet the demand from various industries. Trade dynamics and import-export relationships with other regions, such as Europe and Asia-Pacific, can influence the availability and pricing of polyurethane resins in the North America market.
The current report Scope analyzes Polyurethane Resin Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Polyurethane Resin Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Polyurethane Resin Industry growth. Polyurethane Resin market has been segmented with the help of its Resin Type, Application , and others. Polyurethane Resin market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Solvent-based polyurethane resins segment held the highest market share by revenue in 2022.
Solvent-based polyurethane resins have held a significant market share compared to water-based resins and other types. Solvent-based polyurethane resins have been widely used in various applications due to their excellent performance characteristics, such as high durability, chemical resistance, and quick drying times. They have been popular in industries such as coatings, adhesives, and sealants.
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The construction industry segment has held the largest revenue market in 2022
The construction industry is a major consumer of polyurethane resin. Polyurethane foam insulation materials are extensively used in residential and commercial buildings for thermal insulation, air sealing, and moisture resistance. Polyurethane adhesives and sealants are also used in construction applications, including bonding and sealing various building materials.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Polyurethane Resin Market is witnessing significant growth in the near future.
In 2023, the Solvent-Based Resin segment accounted for noticeable share of global Polyurethane Resin Market and is projected to experience significant growth in the near future.
The Construction segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Dow Chemical Company , BASF SE and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Resin Type | Solvent-Based Resin, Water Based Resin, Others |
Application | Construction, Transportation, Pharmaceuticals, Paints and Coatings, Others |
List of Competitors | Dow Chemical Company, Covestro A.G., BASF SE, Huntsman Corporation, Eastman Chemical Company, Mitsui Chemical, Inc., DuPont de Nemours, Inc., Alchemie, Ltd., Shanghai Dongda Polyurethane Co., Ltd., Arakawa Chemical Industries, Ltd., Perstorp Holdings AB. and others |
This chapter will help you gain GLOBAL Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review Global Polyurethane Resin Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review North America Polyurethane Resin Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review Europe Polyurethane Resin Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review Asia Pacific Polyurethane Resin Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review South America Polyurethane Resin Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Polyurethane Resin. Further deep in this chapter, you will be able to review Middle East and Africa Polyurethane Resin Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Polyurethane Resin. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Resin Type Analysis 2019 -2031, will provide market size split by Resin Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Resin Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Polyurethane Resin market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Solvent-Based Resin have a significant impact on Polyurethane Resin market? |
What are the key factors affecting the Solvent-Based Resin and Water Based Resin of Polyurethane Resin Market? |
What is the CAGR/Growth Rate of Construction during the forecast period? |
By type, which segment accounted for largest share of the global Polyurethane Resin Market? |
Which region is expected to dominate the global Polyurethane Resin Market within the forecast period? |
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