Albany, New York - Polyurethane demand in 2012 was worth $43.2 bn and is expected to reach $66.4 bn by 2018, with a compound annual growth rate of 7.4 % from 2012 to 2018, according to Transparency Market Research.
The rebound in furniture, interiors and construction industry in North America and Europe, as well as rapid economic growth in Asia Pacific is expected to remain the major driving force for the polyurethane market.
The report says that volatile raw material prices coupled with increasing regulatory pressure for sustainable solutions are expected to be a key challenge for market participants. Flexible and rigid foam were the most dominant product segments, accounting for over 65% of total PU demand in 2011, the report says.
Asia Pacific accounted for 40.4% of the total polyurethane market in 2011, followed by Europe and North America. Asia Pacific is also expected to be the fastest growing regional market in terms of both PU consumption and production. This can be attributed to the growing economies and increase in amount spent on luxurious products in this region.
The report: Polyols (Polyether and Polyester) and Polyurethanes (Rigid foam, Flexible foam, CASE) Market For Furniture, Construction, Electronics & Appliances, Automotive, Footwear and Packaging - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, is available from .