Growing demands from the construction and auto industry are driving growth, but environmental concerns remain
Dublin, September 08, 2021 (GLOBE NEWSWIRE) – The “Outlook for the global polyurethane market to 2026” report was added to ResearchAndMarkets.com offer.
Polyurethane is one of the most important polymer products in the family of plastics. The structural and non-structural applications of polyurethane and its variants have become a natural and effective method of repair, reinforcement, rehabilitation and protection in many end user industries.
The global polyurethane market is expected to experience moderate growth rate till 2026. The increasing demand in the construction and automotive industry and the growth of both industries in emerging countries are driving the growth of the polyurethane market. However, growing environmental concerns due to the toxic nature of polyurethane coatings is expected to hamper the market growth during the forecast period.
In the construction industry, polyurethanes are used to make high performance products that are strong yet lightweight, performant, very durable and versatile. Polyurethane products can also help improve the aesthetic design of homes and buildings. According to the United States Environmental Protection Agency (EPA), fully cured polyurethane products are considered inert and non-toxic. Products such as furniture and rugs that contain polyurethane are fully cured before being sold. Polyurethane is an essential ingredient in a wide range of high efficiency sealants, insulation materials and adhesives used in the construction of houses and buildings. Polyurethane can be used in the form of foam, binders and elastomer, among others. The main energy use by households in the European Union is for heating their homes, which accounted for over 64% of energy consumption in 2018.
Likewise, according to the US Department of Energy, heating and cooling costs about 56% of the energy of an average US home. Through the use of a rigid polyurethane form, you save money while maintaining a uniform temperature and reducing noise levels. The EPA estimates that homeowners can save an average of 15% on heating and cooling costs and an average of 11% on total energy costs by air-sealing their home and adding insulation. Current government regulations have established minimum requirements for building standards, whether new construction or renovation. They integrate certain parameters of thermal resistance of the envelope and, to meet them, new buildings are constructed / renovated with high performance insulation products.
Due to the current Covid-19 pandemic, the liquidity crisis is the main problem for the real estate and construction sectors. Investments have been reduced across the market due to the blocking of developer cash flow. For the developed projects, commercial activity was affected by the huge fluctuations in the retail trade which led to decreases in rental income. At the same time, companies may decide to reduce office floor space to reduce rental costs. In 2020, construction spending in the United States in the first two months combined rose 8% from the same period in 2019, boosted by a 13% jump in single-family construction, an 11% increase in public buildings and the lowest 1% increase in private buildings.
In some countries such as Belgium, France and the United States, polyurethane has been used regularly for many years in the construction sector. It also includes polyurethane in thermal insulation systems for the home. The number of European markets commercially using polyurethane is increasing, given the extremely stringent European Union energy efficiency standards required for buildings. Along with the pursuit of compliance, project owners are also focusing on profitability, with polyurethane-based thermal insulation solutions offering significantly reduced construction and maintenance costs and ease of handling and shipping. .
The Global Polyurethane Market report provides an in-depth overview of the current and future status of the Polyurethane market across various regions. Further, the study comprehensively analyzes the Polyurethane market by segments on the basis of product type, end use, and geography.
The report examines the market drivers and restraints, as well as the impact of Covid-19 influencing the market growth in retail. The study covers and understands emerging market trends, market developments, market opportunities, Polyurethane market size, Polyurethane market analysis, market dynamics and industry challenges. This report also covers extensively researched sections of the competitive landscape with profiles of leading companies including their market share and plans.
Main topics covered:
2. Scope and methodology of the research
3. Market analysis
4. Industry analysis
5. Market segmentation and forecast
6. Regional market analysis
7. Key company profiles
8. Competitive landscape
8.1 List of notable players in the market
8.2 Mergers and acquisitions, joint ventures and agreements
8.3 Market share analysis
8.4 Strategies of key actors
9. Conclusions and recommendations
For more information on this report, visit https://www.researchandmarkets.com/r/myvlze
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