Polyurethane Elastomer Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022

Pages: 120

SKU: IRTNTR72823

Snapshot

The polyurethane elastomer market share is expected to increase to USD 5.54 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.82%.

This polyurethane elastomer market research report extensively covers polyurethane elastomer market segmentation by end-user (automotive, building and construction, footwear, electrical and electronics, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The polyurethane elastomer market report also offers information on several market vendors, including American Urethane, Argonics Inc., BASF SE, Cellular Mouldings Ltd., Covestro AG, Dow Inc., DuPont de Nemours Inc., Era Polymers Pty Ltd., Galagher Corp., Herikon B.V., Huntsman Corp., LyondellBasell Industries NV, Manali Petrochemicals Ltd., The Lubrizol Corp., Trelleborg AB, VCM Polyurethanes Pvt. Ltd., Wanhua Chemical Group Co. Ltd., China Petrochemical Corp., LANXESS AG, and Mitsui Chemicals Inc. among others.

What will the Polyurethane Elastomer Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global polyurethane elastomer market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyurethane elastomer market during the forecast period.

Who are the Major Polyurethane Elastomer Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

This statistical study of the polyurethane elastomer market encompasses successful business strategies deployed by the key vendors. The polyurethane elastomer market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions and business expansions to compete in the market.

Product Insights and News

BASF SE - In July 2021, the company partnered with Porsche to develop a high-performing lithium-ion battery for electric vehicles.
BASF SE - The company offers polyurethane elastomer namely Elastollan.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The polyurethane elastomer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Polyurethane Elastomer Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the polyurethane elastomer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Polyurethane Elastomer Market?

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37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for polyurethane elastomer in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The high demand for polyurethane elastomers owing to their rapid consumption in the building, construction, automobile, footwear, and electronics will facilitate the polyurethane elastomer market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the industrial sector across the region. According to the RICS Global Construction Monitor (RICS), in 2020, nearly 25% of projects around the globe were put on hold due to the implementation of lockdown restrictions to contain the spread of the disease. However, various government initiatives such as mass vaccination drives and other restrictions on public gathering that has resulted in a decrease in the number of COVID-19 cases. It led to the gradual resumption of business activities in the region, which is expected to drive the market in the region during the forecast period.

Polyurethane Elastomer Market: Key Drivers, Trends, and Challenges

The increasing consumption of polyurethane elastomers in the automotive industry is notably driving the polyurethane elastomer market growth, although factors such as volatility in prices of raw materials may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyurethane elastomer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Polyurethane Elastomer Market Driver

One of the key factors driving the global polyurethane (PU) elastomer market growth is the increasing consumption of polyurethane elastomers in the automotive industry for coating and manufacturing applications in automotive plastic components. For instance, according to the International Trade Administration (ITA), the Chinese government is expected to increase the sales of automobiles in the country to 35 million units by 2025. Furthermore, according to the IBEF, the Indian government expects the automotive sector to attract USD 8 USD 10 billion in local and foreign investments by the end of 2023. Hence, such factors are expected to drive the growth of the automotive industry, which, in turn, will boost the demand for polyurethane elastomers during the forecast period.

Key Polyurethane Elastomer Market Trend

Burgeoning construction industry is one of the key polyurethane elastomer market trends that is expected to impact the industry positively in the forecast period. Numerous coating materials, such as acrylic, silicone, and epoxy, are used as a surface coating in buildings due to beneficial properties, such as abrasion resistance, chemical resistance, tear strength and temperature compatibility. Thus, the rapid growth of the building and construction sector across the world is driving the demand for polyurethane elastomers. For instance, the Intel Chandler Campus Expansion project with an investment of USD 2 billion involves the expansion of its semiconductor chip production plant at the Ocotillo Campus on 5.3 hectares of land in Arizona, the US. Water Purification Facility project of USD 5 billion in San Diego, California, involves the construction of a water purification plant with a capacity of 83 million gallons per day. Such projects are expected to further support the market growth in the coming years.

Key Polyurethane Elastomer Market Challenge

One of the key challenges to the global PU elastomer market growth is the volatility in prices of raw materials such as crude oil. For instance, the demand for crude oil declined by 2.5 million barrels per day (mb/d) in Q2 2020 due to the implementation of COVID-19-induced nationwide lockdowns across the world. In Q2 2020, the demand for oil declined by around 90,000 barrels a day compared with the corresponding period in 2019. In addition, according to BP statistics, oil prices declined to USD 64.21/bbl in 2019, while they were USD 71.31/bbl in 2018. Furthermore, in February 2022, the price of crude oil crossed USD 100/bbl, primarily to the imminent war between Russia and Ukraine. Thus, such fluctuations in the prices of crude oil will hamper the growth of the market in focus during the forecast period.

This polyurethane elastomer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

What are the Revenue-generating End-user Segments in the Polyurethane Elastomer Market?

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The polyurethane elastomer market share growth by the automotive segment will be significant during the forecast period. The significant increase in the adoption of polyurethane elastomer-based plastic components in automobiles, owing to the lightweight and durability of the polyurethane elastomer-made components, will drive the segment growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the polyurethane elastomer market size and actionable market insights on post COVID-19 impact on each segment.

Polyurethane Elastomer Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.82%
Market growth 2022-2026	$ 5.54 billion
Market structure	Fragmented
YoY growth (%)	6.55
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 37%
Key consumer countries	US, Canada, Mexico, China, Japan, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	American Urethane, Argonics Inc., BASF SE, Cellular Mouldings Ltd., Covestro AG, Dow Inc., DuPont de Nemours Inc., Era Polymers Pty Ltd., Galagher Corp., Herikon B.V., Huntsman Corp., LyondellBasell Industries NV, Manali Petrochemicals Ltd., The Lubrizol Corp., Trelleborg AB, VCM Polyurethanes Pvt. Ltd., Wanhua Chemical Group Co. Ltd., China Petrochemical Corp., LANXESS AG, and Mitsui Chemicals Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Polyurethane Elastomer Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive polyurethane elastomer market growth during the next five years
Precise estimation of the polyurethane elastomer market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the polyurethane elastomer industry across APAC, North America, Europe, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of polyurethane elastomer market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Automotive - Market size and forecast 2021-2026
- Exhibit 28: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Automotive - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Automotive - Year-over-year growth 2021-2026 (%)

5.4 Building and construction - Market size and forecast 2021-2026
- Exhibit 32: Chart on Building and construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Building and construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Building and construction - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Building and construction - Year-over-year growth 2021-2026 (%)

5.5 Footwear - Market size and forecast 2021-2026
- Exhibit 36: Chart on Footwear - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Footwear - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Footwear - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Footwear - Year-over-year growth 2021-2026 (%)

5.6 Electrical and electronics - Market size and forecast 2021-2026
- Exhibit 40: Chart on Electrical and electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Electrical and electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Electrical and electronics - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Electrical and electronics - Year-over-year growth 2021-2026 (%)

5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.8 Market opportunity by End-user
- Exhibit 48: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026
- Exhibit 70: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.9 US - Market size and forecast 2021-2026
- Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)

7.10 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026
- Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 Mexico - Market size and forecast 2021-2026
- Exhibit 90: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on Mexico - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Mexico - Year-over-year growth 2021-2026 (%)

7.13 Canada - Market size and forecast 2021-2026
- Exhibit 94: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 95: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 96: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 97: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.14 Market opportunity by geography
- Exhibit 98: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 99: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 100: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 101: Overview on factors of disruption

9.4 Industry risks
- Exhibit 102: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 103: Vendors covered

10.2 Market positioning of vendors
- Exhibit 104: Matrix on vendor position and classification

10.3 BASF SE
- Exhibit 105: BASF SE - Overview
- Exhibit 106: BASF SE - Business segments
- Exhibit 107: BASF SE - Key news
- Exhibit 108: BASF SE - Key offerings
- Exhibit 109: BASF SE - Segment focus

10.4 Covestro AG
- Exhibit 110: Covestro AG - Overview
- Exhibit 111: Covestro AG - Business segments
- Exhibit 112: Covestro AG - Key offerings
- Exhibit 113: Covestro AG - Segment focus

10.5 Era Polymers Pty Ltd.
- Exhibit 114: Era Polymers Pty Ltd. - Overview
- Exhibit 115: Era Polymers Pty Ltd. - Product / Service
- Exhibit 116: Era Polymers Pty Ltd. - Key offerings

10.6 Huntsman Corp.
- Exhibit 117: Huntsman Corp. - Overview
- Exhibit 118: Huntsman Corp. - Business segments
- Exhibit 119: Huntsman Corp. - Key news
- Exhibit 120: Huntsman Corp. - Key offerings
- Exhibit 121: Huntsman Corp. - Segment focus

10.7 LANXESS AG
- Exhibit 122: LANXESS AG - Overview
- Exhibit 123: LANXESS AG - Business segments
- Exhibit 124: LANXESS AG - Key offerings
- Exhibit 125: LANXESS AG - Segment focus

10.8 Manali Petrochemicals Ltd.
- Exhibit 126: Manali Petrochemicals Ltd. - Overview
- Exhibit 127: Manali Petrochemicals Ltd. - Product / Service
- Exhibit 128: Manali Petrochemicals Ltd. - Key offerings

10.9 Mitsui Chemicals Inc.
- Exhibit 129: Mitsui Chemicals Inc. - Overview
- Exhibit 130: Mitsui Chemicals Inc. - Business segments
- Exhibit 131: Mitsui Chemicals Inc. - Key offerings
- Exhibit 132: Mitsui Chemicals Inc. - Segment focus

10.10 The Dow Chemical Co.
- Exhibit 133: The Dow Chemical Co. - Overview
- Exhibit 134: The Dow Chemical Co. - Business segments
- Exhibit 135: The Dow Chemical Co. - Key offerings
- Exhibit 136: The Dow Chemical Co. - Segment focus

10.11 The Lubrizol Corp.
- Exhibit 137: The Lubrizol Corp. - Overview
- Exhibit 138: The Lubrizol Corp. - Product / Service
- Exhibit 139: The Lubrizol Corp. - Key offerings

10.12 Wanhua Chemical Group Co. Ltd.
- Exhibit 140: Wanhua Chemical Group Co. Ltd. - Overview
- Exhibit 141: Wanhua Chemical Group Co. Ltd. - Product / Service
- Exhibit 142: Wanhua Chemical Group Co. Ltd. - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 143: Inclusions checklist
- Exhibit 144: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 145: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 146: Research methodology
- Exhibit 147: Validation techniques employed for market sizing
- Exhibit 148: Information sources

11.5 List of abbreviations
- Exhibit 149: List of abbreviations

petrochemical derivatives and other industrial chemicals (plastic resins, synthetic rubber, synthetic fibers, and others), other basic chemicals (carbon black, colorants, o

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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