Global PU market worth USD 56.76 billion by 2021
According to a study from Markets and Markets, the global polyurethane market is projected to reach USD 56.76 billion by 2021 at a CAGR of 5.6 %.
The growing middle class with increasing disposable incomes as well as the rising urbanisation supplemented by investments in infrastructure are said to be the main drivers of the global PU market. PU flexible foam is estimated to remain the largest product segment till 2021. Beddings, automotive interiors and footwear are said to be the main applications for flexible foams. A major driver in the flexible foam market is the use of memory foam in bedding.
Driven by the growing automotive industry, the Asia-Pacific region is forecast to remain the largest PU market in terms of value and volume.
The study is titled: “Polyurethane Market by Raw Material (MDI, TDI, Polyols), Product (Coatings, Adhesives & Sealants, Flexible & Rigid Foams, Elastomers), End User (Building & Construction, Automotive & Transportation, Bedding & Furniture) – Global Forecast to 2021”.