The "Polyurethane Elastomers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The market for Polyurethane Elastomers is expected to grow at a CAGR of more than 3% during the forecast period.
INOAC CORPORATION (BASF)
Mitsui Chemicals, Inc
The Lubrizol Corporation
Unicast Engineered Urethane Products
Wanhua Chemical Group Co.,Ltd.
Key Market Trends
Footwear Industry Representing the Fastest Growing Market
Polyurethane elastomers are class of the polyurethane group that have the characteristics of rubber.Polyurethane elastomers are formed by combining hard (isocyanate) and elastic (polyol) parts and changing these selections creates the superior quality of the polyurethane elastomers.
Polyurethane Elastomers are majorly used in footwear industry to produce high tensile and flexible soles using formulations that regulate flexibility ranging from temperatures '0 degree Celsius to 80 degree Celsius' thereby producing superior quality and durable products increasing the scope for this market.
In 2019, the average revenue generated by the shoe industry in the United States per person was USD 277.09 which is about USD 60 higher than the revenue generated in 2018 hence, showing rapid growth in this sector.
Growing population is aiding the market for footwear industry in countries like China, India, Japan creating a major market for polyurethane elastomers.
Asia-Pacific Region to Dominate the Market
Asia Pacific region is expected to dominate the market for vinyl ester during the forecast period. In countries like China, India due to the increasing applications in footwear and other consumer goods industries like leather, and automotive, the market for polyurethane elastomers has been increasing.
The largest producers of polyurethane elastomers are located in Asia-Pacific. Some of the leading companies in the production of polyurethane elastomers are Tosoh Corporation, INOAC CORPORATION, Huntsman Corp, Mitsui Chemicals.Inc, Wanhua Chemical Group Co.Ltd
The Leather industry in India accounts for around 12.9% of the world's leather production which constitutes 9% of the world's footwear production increasing demand for this market in the region.
Elastomers of polyurethane are also used where high degree of dynamic stress is anticipated. These elastomers are also used as coatings when corrosion resistance is preferred, for inhibiting moisture transmission, preventing abrasion damage.
The physical properties of polyurethane elastomers like tensile strength, compression strength, and tear strength is increasing its demand in automobile industry.
The aforementioned factors, coupled with government support, are contributing to the increasing demand polyurethane elastomers during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from Footwear Industry
4.1.2 Growing Application in Automotive and Consumer Goods Industries
4.2.1 Lower Durability of Polyurethane Elastomers
4.2.2 Environmental Concerns Caused by Polyurethane
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Urethane,Inc
6.4.3 Covestro AG
6.4.5 Huntsman Corp
6.4.6 INOAC CORPORATION (BASF)
6.4.8 Mitsui Chemicals, Inc
6.4.9 Ravelast Polymers
6.4.10 Tosoh Corporation
6.4.11 The Lubrizol Corporation
6.4.12 Unicast Engineered Urethane Products
6.4.13 Wanhua Chemical Group Co.,Ltd.
6.4.14 Weaver Industries,Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Bio-based Polyurethane Elastomers
7.2 Other Opportunities
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210507005342/en/
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