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The latest published report by Fact.MR, a market research and competitive intelligence provider, reveals that the global polyurethane market currently holds a valuation of US$ 83.1 billion, and is slated to expand 2X to reach a valuation of US$ 162.3 billion by the end of 2032.
The market registered steady growth at 5% CAGR during 2017-2021. Fact.MR anticipates noteworthy potential in the market due to rising adoption of high-quality PU coatings and adhesives.
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Polyurethane adhesives are not only flexible and durable but also have better bonding and good impact resistance. They are used in vehicle interiors to seal fuel tanks, bond windshields, and other parts. Escalating demand for adhesives in different end-use industries is expected to be a major factor supporting market growth.
In addition, polyurethane coatings protect substrates from corrosion, abrasion, and weathering. As these coatings adhere to the base material, their application in several end-use industries, such as automotive, furniture, construction, etc., is rising, thereby fueling market growth.
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Key Takeaways from Market Study
“Increasing adoption of PU coatings and adhesives of high-quality across industries such as automotive, furniture etc., is anticipated to drive market demand over the coming years,” says a Fact.MR analyst.
Polyurethane Industry Survey by Category
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Development of Market
Key suppliers of polyurethane are focusing on enhancing their brand presence in the market by making appropriate use of promotional strategies in order to promote their products and enhance their consumer base. Many promotional advertising strategies such as product launches, partnerships, collaborations, capacity expansion, etc., are being undertaken by them to improve brand presence and generate additional revenue.
Leaders in the polyurethane market are focusing on capturing prominent market share by making use of robust distribution networks and integrating their sales channels, which has enabled them to generate consistency in demand over the years.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global polyurethane market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by product type (rigid foam, flexible foam, coating, elastomers, adhesive & sealants, other product types) and application (construction, furniture & interiors, automotive, electronics & appliances, packaging, footwear, other applications), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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