Market Overview:
Polymer Additives are the minor
components, which are added to the polymer to modify some of its properties.
They are majorly used to enhance properties of the polymer to make it suitable
for the desired application. Usually, an additive is selected on the basis of
types of polymer additive and application. This leads to developing value added
product with improved durability and other desired properties. The Polyurethane
Additives are summed up in the major types namely antioxidants, catalysts,
emulsifier, stabilizers, fillers, flame retardants, and others.
It is majorly used in the
manufacturing of foam, which is utilized by diverse industries namely
furniture, construction, automotive & transportation, electronics &
electrical, etc. The Global Polyurethane Market is estimated to reach around 2
million tons of annual production with an approximate CAGR of 6%. The
developing countries are focusing on infrastructure projects, which drives the
growth of building & construction activities. This trend is expected to
boost the demand for rigid foams. Furthermore, the automotive and
transportation sector is projected to keep its growth trajectory intact to
drive the demand for flexible as well rigid foams.
Competitive Analysis:
·
Cavestro AG
·
BASF SE
·
The Dow Chemicals Company
·
Huntsman International LLC
·
Kao Corporation
·
Tosoh Corporation
·
Polychemie Asia Pacific Permai
·
Suzhou Xiangyuan Special Fine Chemical Co.,Ltd.
·
Evonik Industries AG
·
Gulbrasnson Chemical Pvt. Ltd.
Market Segmentation:
The Global Polyurethane Additive
Market is broadly segmented on the basis of product type, application, end use
industry, and region. Based on the type, the market is categorized into
antioxidants, catalysts, emulsifier, stabilizers, fillers, flame retardants,
and others. Wherein, the antioxidant and catalysts segment are dominating the
market due to the growing demand for production of flexible as well as rigid
foams. As of 2016, both the segments are projected to hold over 40% share of
the market. This trend is estimated to continue over the forecast period on
account of increasing demand from end users such as construction and automotive
industry.
By the Application, the Polyurethane
Additive Market is classified into flexible foam, rigid foam, coating,
adhesives & sealants, and others. Wherein, the flexible foam dominated the
demand with 31% market share as of 2016. During the forecast period, demand for
Polyurethane Additive in flexible foam is estimated to increase even more. At
present, rigid foams are majorly used in diverse industries including building
& construction, automotive & transportation, electrical &
electronics, insulation and some proportion in plastics. Wherein, building &
construction dominates the demand for rigid foams.
On the basis of the End Use
Industries, the Global Polyurethane Additive Market is segmented into
building & construction, automotive, furniture making, packaging, footwear,
and others. Growing trend can be seen in the industries namely building &
construction, automotive, along with the significant demand for furniture
making and footwear industry, etc. Thus, the growth in these industries is
anticipated to reflect in the Polyurethane Additive Market during the forecast
period.
Regional Analysis:
There are five major regions in
which the Global Polyurethane Additive Market is spanned across: Asia Pacific,
Europe, North America, the Middle East & Africa, and Latin America. Asia
Pacific is set to dominate the market. It held over 45% share of the market, as
of 2016. The region is anticipated to remain dominant in both production and
demand of Polyurethane Additives. Growing construction activity in this region
is driving the market growth. Apart from this, increasing demand for rigid
foams from the automotive & transportation industry is expected to boost
the demand further in the coming years. Europe is followed by Asia Pacific in
terms of market share due to increasing demand for flexible and rigid foams by
automotive along with household insulation. North America is holding relatively
less share of the Global Polyurethane Additive Market. Yet, there is a surge in
demand for flexible foams in automotive interiors, insulation, and furniture
making industries in this region. The Middle East & Africa is a swiftly
growing market where the growth is driven by demand for rigid foams for
insulation. Latin America is anticipated to witness a rise in the regional
market due to the pacifying political and reviving economic situation.
COVID-19 Impact Analysis
on Aluminum Extruded Products Market@ https://www.marketresearchfuture.com/report/covid-19-impact-aluminum-extruded-products-market
COVID-19 Impact on
Self-Healing Materials Market@ https://www.marketresearchfuture.com/report/covid-19-impact-self-healing-materials-market
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