Reports and Data’s latest research study on the Polyurethane Resin market gives a thorough analysis of it. In this report, the global Polyurethane Resin market is analyzed historically and currently to assess its potential future development. In order to identify opportunistic business opportunities for stakeholders, the study provides detailed information on the key growth factors, restraints, and key trends that are paving the way for future growth in the Polyurethane Resin market.
The global market size for Polyurethane (PU) resin was USD 803.1 million in 2021 and is anticipated to achieve a revenue compound annual growth rate (CAGR) of 3.2% throughout the forecast period. Factors such as the escalating demand for resins with enhanced cut and tear resistance, coupled with the growing utilization of polyurethane resins in wood and floor coatings, are expected to propel the market’s revenue growth during the forecast timeframe. Additionally, the increasing application of these resins in construction projects and their adoption for sealing, compressing, and insulating electronic circuit boards are poised to further boost revenue growth.
Polyurethane resins, copolymers formed through the reaction of polyol alcohol with isocyanate in the presence of appropriate additives and catalysts, are projected to witness a yearly volume increase of approximately 1.0% in the United States until 2024. These resins find extensive usage in automotive and industrial sectors due to their ability to provide high gloss coatings, thereby driving their adoption in such applications. Furthermore, the rising demand for polyurethane resins in commercial projects, attributed to their advantage of maintaining thickness even upon drying, is anticipated to foster revenue growth in the polyurethane resin market. Increasing demand for these products in coating applications across architectural and furniture segments is another factor expected to bolster the adoption of polyurethane resins, consequently driving market revenue growth in the near future. Moreover, the long shelf life post-application, rapid drying properties, and ease of disposal without requiring special precautions are anticipated to further augment the demand for polyurethane resins in various industrial projects.
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Businesses within the chemicals and materials industries vary in size, location, operational approach, and target markets. These businesses are interconnected within a larger ecosystem that encompasses raw materials such as oil, gas, coal, minerals, and bio-based products, as well as a diverse range of industries where these materials are utilized. Traditionally, the chemical industry has been categorized into three main segments: petrochemicals, diversified manufacturers, and specialized industries.
While the broader patterns discussed earlier are applicable to the entire sector, the intricacies of the distinctions among the various players indicate the importance of analyzing trends within specific segments of the industry. Deloitte, as part of its multiverse series, has grouped stakeholders in the chemical sector into three categories: natural owners, distinctive commodities, and solution providers. Each of these groups typically pursues its own strategic objectives. Vertically integrated natural owners often prioritize continuous improvement over innovation in their business operations. Differentiated commodities thrive in the industry’s highly fragmented and complex landscape by focusing on supply chain efficiency, market innovation, and cost optimization. Similarly, solution providers concentrate on maximizing the value of their unique products, alongside their application expertise and services.
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Moreover, the report provides insight into how the Polyurethane Resin market will develop between 2024 and 2030. Companies operating in the Polyurethane Resin market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Polyurethane Resin market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Polyurethane Resin market and estimates market progress in terms of value (USD million) and volume (thousand units).
The 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., and Perstorp Holdings AB.
Segments Covered in the report
|By Resin Type Outlook
|By Application Outlook
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Key Questions Answered in This report on the Polyurethane Resin Market
The report provides detailed information about the Polyurethane Resin market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Polyurethane Resin market, so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue from the advantages of the product?
- What will be the Y-o-Y growth of the Polyurethane Resin market between 2024 and 2030?
- What are the winning imperatives of market frontrunners in the Polyurethane Resin market?
- Which end-user is expected to undertake maximum adoption of the product during the forecast period?
Research Methodology: Polyurethane Resin Market
The research methodology adopted by analysts to compile the Polyurethane Resin market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Polyurethane Resin market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Polyurethane Resin market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Polyurethane Resin market.
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