New York, USA, Thursday, March 17, 2022 07:26:08 / Comserve Inc. / — The global polyurethane elastomers market is expected to grow with a notable CAGR during the forecast period, i.e. say 2021-2029.
Research Nester released a report titled “Polyurethane Elastomers Market: Global Demand Analysis and Opportunity Outlook 2029″ which provides a detailed overview of Polyurethane Elastomers in terms of market segmentation by type, end-use industry, and region.
Additionally, for the in-depth analysis, the report encompasses industry growth indicators, restraints, supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.
The global polyurethane elastomers market is segmented by end-use industry in automotive, building & construction, footwear, machinery and others, of which footwear segment is expected to hold the largest market share during the forecast period, supported by the growing demand for footwear worldwide, as well as the many favorable properties of polyurethane elastomers for footwear manufacturing, including properties such as high abrasion resistance, aesthetic and others.
The global polyurethane elastomers market is expected to grow with a notable CAGR during the forecast period, i.e., 2021-2029, owing to the growing applications of polyurethane elastomers in end-user and trade industries increasing number of polyurethanes. Polyurethane elastomers possess properties, such as improved toughness, flexibility, load resistance and others, which make it one of the most demanding raw materials for manufacturing different end-use products. The International Trade Center (ITC), in one of its statistics, said that polyurethane exports peaked at USD 77.46 billion in 2018 from USD 55.70 billion in 2010.
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Regionally, the global polyurethane elastomers market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa region, among which the Asia-Pacific polyurethane elastomers market is expected to hold the largest market share due to the presence of countries like China, which is known to be the world’s largest exporter of footwear, coupled with the growing demand for footwear high performance sports in the region. In other statistics from the International Trade Center (ITC), China’s footwear exports recorded a growth of USD 356.33 billion in 2010 and rose to USD 478.04 billion in 2019.
Beneficial properties of polyurethane elastomers that help end-user industry manufacturers to drive market growth
Polyurethane elastomers have many advantages over conventional elastomers. With the increasing progress in chemical sciences, there is an increasing demand for advanced chemicals, such as polyurethane, supported by the many favorable properties possessed by the chemical, such as aging resistance, chemical resistance, greater flexibility , weather and ozone resistance, durability , heat resistance and others. Such a factor is expected to drive the growth of the global polyurethane market over the forecast period.
However, concerns over health risks associated with polyurethane elastomer manufacturing are expected to slow the market growth over the forecast period.
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This report also provides the existing competitive scenario of some of the major players in the global Polyurethane Elastomers market which includes BASF SE company profiling LOWDow Inc. DOWTosoh Company 4042Argonics, Inc., LANXESS LXSHerikon, Huntsman International LLC HUNTrelleborg TRELThe Lubrizol Corporation and Covestro AG 1VOC. Profiling contains key business information that encompasses an overview of businesses, products and services, key financial data, and recent news and developments. Overall, the report portrays a detailed overview of the Global Polyurethane Elastomers Market which will help industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players to the search for opportunities and other stakeholders to align their market-centric strategies according to the current and expected situation. trends in the future.
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