Elastomers made of polyurethane (PU) are synthetics with elastic characteristics that are made by reacting polymeric ingredients. Diisocyanates, polyols, and, in certain circumstances, chain extenders are used. Polyurethane elastomers are created by mixing hard (isocyanate) and flexible (polyol) components, with various combinations producing superior polyurethane elastomers. Coatings made of PU elastomers are first-rate materials.
The growing need for industrial PU elastomer may be linked to the transportation industry's rising demand for highly efficient and lightweight materials, as well as severe emission laws imposed by governments throughout the world. Furthermore, elastomers are preferred by automobile manufacturers throughout the world over traditional metals because they improve vehicle economy by lowering fuel consumption, carbon emissions, and engine size.
Various end use industries across the globe including marine, automotive, and aerospace are demanding industrial PU elastomers for end use applications which is crucial factor propelling growth of the global industrial PU market. The PU elastomers possesses excellent features like high load-bearing capacity, abrasion resistance, chemical resistance owing to which the transportation industry is constantly using these PU elastomers. This is one of the major factors expected to augment growth of the global industry in the near future.
The report highlights many characteristics of the worldwide industrial PU elastomer business by evaluating the market against the falling value chain. In the research, there are also several characteristics that include market constraints, drivers and major industry prospects in the Industrial PU Elastomer sector. In addition, the study provides an extensive assessment of company profiling and of the competitiveness of local and international vendors on the market.
The worldwide industrial pu elastomers market is divided into two primary types, thermoset PU elastomer and thermoplastic PU elastomer, based on type. The thermoset PU elastomer has the biggest market share in the worldwide industrial PU elastomer market among these two types. Thermoset PU elastomer type of elastomer possesses excellent properties including great resilience, outstanding resistance to grease as well as oil, high impact strength, high load-bearing capacity etc. Huge investment by the governments across the globe along with private sectors in the various constructions is major factor creating huge demand for the thermoset PU elastomer. This is major factor boosting growth and demand for the segment.
The Asia Pacific market for industrial PU elastomer will be one of the most significant in 2020. Industrial PU elastomer production facilities have shifted from Europe to APAC, particularly China and India, in recent years for a variety of uses, including transportation, mining equipment, and building and construction. This trend is attributed to the availability of low-cost labor, favorable government regulations, and natural resource availability, which has made APAC the major user of industrial PU elastomers.
The global industrial PU elastomer industry is consolidated at the regional level, the big firms are mainly present among the Europe and APAC regions. The key players of the industrial PU elastomer market are BASF, Dow, Huntsman, Covestro, Era Polymers, Notedome, Mitsui Chemicals, Lanxess, The Lubrizol Corporation, and Wanhua. Reputable companies are currently offering new industrial PU elastomer packages. Furthermore, in order to stay competitive on the global market, both well-known and new firms approach the sector using complex and creative approaches.
Segment Overview of Global Industrial PU Elastomer Market
Type Overview, 2019 - 2028 (USD Billion)
- Thermoset PU Elastomer
- Thermoplastic PU Elastomer
End-use Industry Overview, 2019 - 2028 (USD Billion)
- Mining Equipment
- Building & Construction
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America