Market Analysis
The global polyurethane catalysts market is projected to grow at a 6% CAGR between 2016-2023, states the new Market Research Future (MRFR) report. Polyurethane, simply put, is a polymer having polymer units joined through the urethane link. It is made from exothermic reactions between isocyanate, which has above one reactive isocyanate per molecule, and alcohols with two or above reactive hydroxyl groups per molecule.
Polyurethane catalysts help in accelerating polyurethane formation. Besides, it also helps in modifying the final product and reaction conditions. The catalysts play a pivotal part in the manufacturing of polyurethane foam. This manufacturing process needs a controlled environment that is offered by polyurethane catalysts. New high-efficiency, reduced-emission catalysts help manufacturers in creating foams that are eco-friendly. Polyurethane catalysts have an extensive range of applications, including electronics and electrical, automotive and transportation, construction, furniture, and others.
Numerous factors are adding to the global polyurethane catalysts market growth. These factors, according to the latest Market Research Future report, include growing demand for flexible foam from automotive and electronic industries, increasing usage in construction activities, and cost-effectiveness. Besides, the developing countries are laying emphasis on infrastructure projects that are boosting the growth of building and construction activities, which in return, is increasing the market growth.
On the contrary, strong competition from fiberglass and polystyrene industries, volatility in raw material prices, potential health hazards, and availability of innovative eco-friendly products are factors that may restrict the global polyurethane catalysts market growth during the forecast period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global polyurethane catalysts market based on applications and product type.
By type, the polyurethane catalysts market is segmented into zinc compound, a bismuth compound, dimethylethanolamine (DMEA), 1,4-diazabicyclo [2.2.2] octane (DABCO), triethylenediamine (TEDA), and dibutyltin dilaurate.
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By applications, the polyurethane catalysts market is segmented into coatings, adhesives, elastomers, molded foam, flexible foam, rigid foam, and others. Of these, rigid foams will have the largest share in the market during the forecast period for its increasing use for insulation and construction.
Regional Analysis
By region, the global polyurethane catalysts market report covers the latest trends and growth opportunities across North America, the Asia Pacific, Europe, Latin America, and the Middle East, and Africa. Of these, the APAC region will command the largest share in the market during the forecast period for the growing construction activities by private and government players. Japan, India, and China are making huge investments in construction activities to boost the demand for rigid foams. Besides, the growing demand for polyurethane catalysts from the transportation and automotive sectors is also adding to the growth of the polyurethane catalysts market in the region.
Europe is predicted to have the second-largest share in the market over the forecast period for regulatory norms and demand for household insulation to boost energy efficiency.
The polyurethane catalysts market in North America will have steady growth during the forecast period for the growing demand for furniture, insulation, and automotive interior due to the increase in the standard of living.
The polyurethane catalysts market in Latin America and the MEA will have significant growth during the forecast period for the growing demand for household insulation due to increasing infrastructure activities, people’s changing lifestyles, and growing demand for manufacturing foams to be utilized in automotive and construction sectors.
Key Players
Notable players profiled in the polyurethane catalysts market report include Gulbrasnson Chemical Pvt. Ltd. (India), Evonik Industries AG (Germany), Suzhou Xiangyuan Special Fine Chemical Co., Ltd (China), Polychemie Asia Pacific Permai (Indonesia), Tosoh Corporation (Japan), Kao Corporation (Japan), Huntsman International LLC (U.S.), The Dow Chemical Company (U.S.), BASF SE (Germany), and Covestro AG (Germany). Key players have incorporated several strategies to create a niche in the market and also cater to the growing demands of customers. These strategies include extensive research and development activities, strategic alliances, collaborations, mergers and acquisitions, joint ventures, new product launches and innovations, expansions, to name a few.
