Press Releases

Asia-Pacific Market for Polyurethane

December 20, 2018

WELLESLEY, Mass., Dec. 20, 2018 – The Asia Pacific market for polyurethane (PU) is rapidly expanding due to a wide-range of available PU products, high demand from numerous industries, product launches, cohesive government policies, new market entrants, innovation and technological advancements.

Key players in the industry include BASF, (BAFFAK) Bayer (BAYZF), Dow Chemical (DWDP), Wanhua Chemical, Dow Polyurethanes (DWDP), Huntsman (HUN), Shanghai Hua Yi (Group) Co., Shanghai Chlor-Alkali Chemical and Sinopec (SNPMF).

According to BCC Research, the Asia-Pacific market for polyurethane technologies market was valued at $18.4 billion in 2018 and is expected to reach $25.8 billion by 2023 at a compound annual growth rate (CAGR) of 7.0% from 2018-2023.

Research Highlights:

  • APAC is the fastest-growing emerging market due to the expansion of its manufacturing base that consume polyurethanes including construction, automobile and furniture and bedding.
  • APAC is getting investment from PU market players such as Dow, Covestro and BASF, due to the region’s favorable government policies, attractive markets.
  • China, the global manufacturing capital, accounted for 52% of all polyurethane consumed in APAC. The country’s automotive sector, which includes both private and public transportation, is the biggest end user in the region.

“There are many macroeconomic factors impacting the Asia-Pacific market,” the report notes. “For example, GDPs in most Asian countries are rising while investment capacity in various regions is also on the increase. Also, China is expected to become one of the fastest-growing, consumer-based markets, and there is tremendous growth in the manufacturing sector. The growth of China’s PU industry is a result of higher demand from the automotive, transportation, electronics and construction sectors.”  

Large Number of Substitutes Tops List of Market Restraints

Acrylics, epoxies, silicones and methyl propanediol (MPO) are some of the major substitute resins for polyurethanes. For instance, epoxies are the leading resins in the coatings market, and acrylics are widely used in adhesives and sealants applications. They are less expensive than polyurethanes and are thus used in many applications. For example, the 3D printing market is dominated by acrylics. Thus, these substitutes act as market restraints for polyurethanes.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Polyurethane: Technologies, Applications and Asia-Pacific Markets( PLS100A )
Publish Date:     

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.