London --- The global polyurethanes (PU) market has witnessed double digit growth rate in the recent past owing to its wide spectrum of applications like rigid and flexible foams, paints and coatings, adhesives and sealants among many others, according to market research group Transparency Market Research.
TRM's latest study predicts that global PU product market revenue will grow to reach $57.4 billion by 2016 from last year's figure of $40.6 billion -- at a CAGR of 7.2 percent over the period.
Asia Pacific, followed by Europe, is projected to have the largest market share by 2016.
Among the key factors expected to drive the PU market are its sustainability and healthy growth in the automotive industry. But TRM notes that the market could be challenged by elevated pricing of raw materials such as crude oil, benzene and toluene.
TRM says this new market research study 'Polyurethanes (PU) Market: Global Industry Analysis, Size, Share & Forecast (2009 - 2016)' offers comprehensive assessment of the polyurethanes market on the basis of raw materials, applications and end-use segments.
Separate comprehensive analytics for North America, Europe, the Asia Pacific and ROW are presented; annual sales estimates and forecasts for the top eight country markets are provided for the period 2009 through 2016.
TRM says the report gives insights into current market trends, as well as the major forces driving and restraining the growth of the polyurethanes market and its sub-markets over the next five years.
The 122-page report is available at www.MarketPublishers.com, and costs $4395.
Readers should note that UTI has not seen this report, and cannot comment on its content.