during the forecast period. The industrial PU elastomer market has witnessed decent growth in the past few years. This growth can be attributed to the increasing demand for highly efficient and lightweight materials in the transportation industry and stringent emission regulations laid by the governments of various countries.
New York, July 29, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial PU Elastomer Market by Type, End-use Industry and Region - Global Forecast to 2026" - https://www.reportlinker.com/p05363007/?utm_source=GNW
Moreover, automobile manufacturers worldwide prefer elastomers over conventional metals as they increase automobile efficiency by reducing fuel consumption, carbon emissions, and engine size.
Thermoset PU elastomer accounted for the largest share in the industrial PU elastomer market
The thermoset PU elastomer segment dominated the overall market.The growth of this segment can be attributed to the low cost and easy availability of thermoset PU elastomers around the world, especially in APAC.
On the other hand, the thermoplastic PU elastomer segment is estimated to register the highest CAGR during the forecast period, owing to its exceptional benefits of bridging the gap between flexible rubber and rigid plastics.
Transportation is expected to be the largest industrial PU elastomer consumer in 2021 amongst other end-use industries.
The industrial PU elastomer market by end-use industry has been segmented into transportation, industrial, building & construction, mining equipment, medical, and others.The transportation segment, in terms of value, dominated the global industrial PU elastomer market.
The increasing applications of industrial PU elastomers in the transportation industry due to their properties such as excellent resilience, high mechanical strength, heat resistance, lower shrinkage, high filler capacity, improved abrasion resistance, durability and softness, resistance to hydrolysis, high rigidity, and resistance to chemicals is driving the growth of the segment.
APAC is the largest and fastest-growing amongst other regions in the industrial PU elastomer market
APAC was the largest market for industrial PU elastomer in 2019.The transportation and industrial sectors are very prominent in this region because of the availability of raw materials and low labor costs, along with the high demand for transportation equipment.
The demand for industrial PU elastomers is expected to grow in this region owing to the expanding industrial and mining sectors, especially in South-East Asian countries.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the industrial PU elastomer market gathered through secondary research.
The breakdown of primary interviews has been given below.
• By Company Type: Tier 1 – 25%, Tier 2 – 50%, and Tier 3 – 25%
• By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
• By Region: North America – 20%, APAC – 25%, Europe – 30%, Middle East & Africa – 10%, South America-15%.
The key players in this market are BASF (Germany), Dow (US), Huntsman (US), Covestro (Germany), Mitsui Chemicals (Japan), Lanxess (Germany), The Lubrizol Corporation (US), and Wanhua (China). The industrial PU elastomer market report analyzes the key growth strategies, such as new product launches, investments & expansions, and mergers & acquisitions to strengthen their market positions.
This report covers the Industrial PU elastomer market and forecasts its market size until 2026.The market has been segmented based on type, end-use industry, and region.
The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market.The report also provides insights into the driving and restraining factors in the Industrial PU elastomer market, along with opportunities and challenges across these industries.
It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the Industrial PU elastomer market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.
Read the full report: https://www.reportlinker.com/p05363007/?utm_source=GNW
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