The global polyurethane (PU) resin market is forecast to grow at a CAGR of 5.7% by value from 2015 to 2020.
According to a new market report published by Lucintel, the future of the global polyurethane resin marketlooks good, with opportunities in the transportation, and construction.
The major drivers of growth for this market are composites manufactured from PU resin have short cycle time, higher toughness and flexibility compared to composites based on vinyl ester and unsaturated polyester resin.
Access report at www.lucintel.com/polyurethane_resi…_market_2020.aspx
In this market, transportation and construction are the major segments for polyurethane resin.
Within the polyurethane resin market, transportation is expected to remain as the largest market by value and volume consumption. Fast cure property and increase demand of lightweight materials which would spur growth for this segment over the forecast period.
North America is expected to remain the largest market during the forecast period due to growth of end use industries, such as transportation and construction.
Europe and Asia Pacific is expected to show above average growth during the forecast period by virtue of growing automotive industry.
For market expansion, the report suggests innovation and new product development, where the unique characteristics of polyurethane resin can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
Emerging trends, which have a direct impact on the dynamics of the industry, are development of new applications and bio based polyurethane resin. Bayer AG, Huntsman Corporation, Dow Chemical Company, BASF SE and Wanhua Chemical Groups are among the major players of polyurethane resin in global composites market.
The segments in the report are as follows:
Polyurethane resin in composites market by region [Value ($M) and Volume (M lbs) shipment analysis for 2009 – 2020]:
- North America
- Asia Pacific
- Rest of the World
Polyurethane resin in composites market by end use industry [Value ($M) and Volume (M lbs) shipment analysis for 2009 – 2020]:
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