Transparency Market Research in its new report titled, “Polyurethane Elastomers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the polyurethane elastomers market. The TMR report anticipates that the rise in the demand from construction and infrastructure industries will drive the polyurethane elastomers market during the forecast period i.e, 2018-2026.
The report has segregated the polyurethane elastomers market on the basis of product type, end-use type and region. In terms of product type, the polyurethane elastomers market is split into thermoplastic elastomers and thermosetting elastomers. Demand for thermosetting polyurethane elastomers is high in the polyurethane elastomers market across the globe. Thermosetting elastomers set permanently when heated. Most polyurethane elastomers are based on thermosetting polymers. However, demand for thermoplastic elastomers is also high. Thermoplastic elastomers become soft on heating and harden on cooling, and are able to repeat these processes. Thermoplastic elastomers are cheaper, efficient, and used in wide range of applications. Polyurethane elastomers are employed in almost all end-user industries. They exhibit properties such as high durability, resistance to fire, soft touch, and clarity, says the report.
On the basis of end-user type, the polyurethane elastomers market is divided into automotive, building & construction, footwear, electronics, and others. Among these, the automotive segment accounted for the major share of the polyurethane elastomers market in 2016. Polyurethane elastomers are primarily used in manufacture of wheels, automotive suspension bushings, and other parts of automotive products. Under the electronics segment, polyurethane elastomers are used for forming high resilience foam and insulation panels. Polyurethane elastomers are used for in elevators and other infrastructure items in the building & construction industry. Under the others segment, polyurethane elastomers are used for making shopping carts, hoses, and sealants. They are also employed in the surface coating process. Rapid growth in automotive and electronics industries across the globe is projected to boost the polyurethane elastomers market. Rise in demand for durable and impact resistant materials in automotive and electronic applications is estimated to be a key driver of the polyurethane elastomer market. Health hazard due to the usage of polyurethane elastomers is the only restraint of the market.
On a geographical stand, Asia Pacific has dominated the global polyurethane elastomers market and the pattern is expected to continue. Increase in population and rapid industrialization have led to growth in infrastructure projects. Furthermore, increase in disposable income is boosting the automotive and electronics industries. North America also accounted for key share of the polyurethane elastomers market in 2016. Growth in reconstruction activities has boosted the polyurethane elastomers market in the region. Europe is the third major consumer of polyurethane elastomers across the globe. The automotive industry in Germany is one of the largest hubs across the globe. Expansion in the automotive industry has led to a rise in demand for polyurethane elastomers. Middle East & Africa and Latin America held low share of the polyurethane elastomers market across the globe. However, market share of these regions is anticipated to increase at a fast pace in the near future. Increase in investment in the regions for industrial growth is expected to augment the demand for polyurethane elastomers. Major players operating in the global polyurethane elastomers market are profiled in this report to give a better competitive analysis and these include BASF SE, DuPont, The Dow Chemical Company, VCM Polyurethanes Pvt. Ltd., Huntsman International LLC and Covestro.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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