Polyurethane Resin Market Size, Share, Growth, and Industry Analysis, By Type (Solvent Based Polyurethane Resins and Water Based Polyurethane Resins), By Application (Transportation, Construction and Others), Regional Insights and Forecast From 2025 To 2033

• 

   Request a Free Sample To Get More Information on this Market

POLYURETHANE RESIN MARKET REPORT OVERVIEW

The global polyurethane resin market size was projected at USD 0.91 billion in 2024 and is expected to hit USD 1.16 billion by 2033 with a CAGR of 2.9% during the forecast period from 2025 to 2033.

Polyurethane resin is a polymer composed of organic units joined by carbamate (urethane) links. In contrast to other common polymers such as polyethylene and polystyrene, polyurethane is produced from a wide range of starting materials. This chemical variety produces polyurethanes with different chemical structures leading to many different applications. These include rigid and flexible foams, and coatings, adhesives, electrical potting compounds, and elastomers.

They are typically produced by reacting a polyol with an isocyanate. The polyol is a compound that contains multiple hydroxyl (OH) groups, and the isocyanate is a compound that contains a carbon-nitrogen triple bond. When these two compounds react, they form a urethane linkage. Their properties can be varied by changing the type of polyol and isocyanate used.

COVID-19 IMPACT

"Pandemic Decreased the Market Demand due to Halt of Construction activities"

The global COVID-19 pandemic has been unprecedented and staggering, with the polyurethane resin market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic had a significant impact on the polyurethane resin market share. The pandemic led to the closure of factories and slowdown of construction activities, which decreased the demand for them. The automotive industry was one of the hardest hit industries by the COVID-19 pandemic. The closure of factories and slowdown of production led to a decrease in the demand for polyurethane foams, which are used in a variety of automotive applications, such as seating, insulation, and roofing. The construction industry was also severely impacted by the COVID-19 pandemic. The slowdown of construction activities led to a decrease in the demand for them, which are used in a variety of construction applications, such as adhesives, sealants, and coatings. The electronics and electrical industries were also affected by the COVID-19 pandemic, but to a lesser extent. The demand for them in these industries decreased due to the slowdown of production and the closure of businesses.

LATEST TRENDS

"Increasing Demand For Bio-Based Polyurethane Resins to Fuel Market Growth"

There is a growing awareness about the environmental impact of petroleum-based products. They are made from petroleum-based raw materials, such as MDI and polyols. Bio-based polyurethane resins are made from renewable resources, such as vegetable oils and starches. This makes them a more environmentally friendly option. Governments are increasingly imposing regulations on the use of petroleum-based products. These regulations are driving the demand for bio-based alternatives. Bio-based polyurethane resins can be produced at a lower cost than petroleum-based resins. This is due to the lower cost of the raw materials used to produce bio-based resins. Bio-based polyurethane resins offer comparable performance to petroleum-based resins. This means that they can be used in a wide range of applications without compromising performance. The increasing demand for bio-based polyurethane resins is expected to boost the growth of the market in the coming years.

POLYURETHANE RESIN MARKET SEGMENTATION

By Type

According to type, the market can be segmented into solvent based polyurethane resins and water based polyurethane resins.

By Application

Based on age, the market can be divided into transportation, construction and others.

DRIVING FACTOR

"Growing Demand In The Automotive And Construction Industries To Foster The Market Growth"

Polyurethane foams are used in a variety of applications in the automotive industry, such as: They are used to make car seats because they are comfortable, durable, and lightweight. They can also be molded to any shape, making them ideal for custom seats. They are used to insulate cars, helping to keep them cool in the summer and warm in the winter. They are also used to soundproof cars, reducing noise levels inside the vehicle. They are used to insulate roofs, helping to keep homes and businesses warm in the winter and cool in the summer. They are also used to provide soundproofing and fire resistance. Polyurethane foams are used in a variety of applications in the construction industry as well like to insulate buildings, helping to keep them warm in the winter and cool in the summer. They are also used to soundproof buildings, reducing noise levels inside the structure.

"Demand In The Footwear And Apparel Industries To Result In The Expansion Of The Market"

They are used in a variety of applications in the apparel industry, such as:

Fabrics: Polyurethane elastomers are used to make fabrics that are stretchy and wrinkle-resistant. They are also used to make fabrics that are water-resistant or flame-resistant.

Trims: Polyurethane elastomers are used to make trims, such as buttons and zippers, that are durable and flexible.

Adhesives: Polyurethane elastomers are used to make adhesives that are strong and flexible. They are used to bond a variety of materials, such as fabric, leather, and metal.

The demand for polyurethane elastomers in the footwear and apparel industries is expected to continue to grow in the coming years

RESTRAINNG FACTORS

"Fluctuation In The Prices Of Raw Materials To Hamper The Market Growth"

The prices of raw materials used in the production of them, such as methylene diphenyl diisocyanate (MDI) and polyols, are volatile. This fluctuation can affect the profitability of the market.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

POLYURETHANE RESIN MARKET REGIONAL INSIGHTS

"Asia Pacific To Lead The Market Owing To Increasing Urbanization"

The Asia Pacific region has shown the highest polyurethane resin market growth. The increasing urbanization in Asia Pacific is leading to the growth of the construction industry, which is driving the demand for them.

KEY INDUSTRY PLAYERS

"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Top Polyurethane Resin Companies

• DIC - (Japan)
• BASF -(Germany)
• DSM -(Netherlands)
• Perstorp - (Sweden)
• DowDuPont - (US)
• Alchemie – (Germany)

REPORT COVERAGE

This report examines an understanding of the polyurethane resin market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.