Market Size of Polyurethane Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyurethane Composites Market Analysis
The market for polyurethane composites is expected to grow at a CAGR of 4% globally during the forecast period. Increasing demand for lightweight materials in the transportation industry and growing demand from the building and construction industry are driving the market growth. On the flip side, higher production costs and slowdown in global automotive production are hindering the growth of the market.
- The polyurethane composites market is expected to grow during the forecast period owing to the increasing demand from the transportation industry.
- Asia-Pacific region dominates the market across the globe with the largest consumption from countries such as China, India and Japan.
Polyurethane Composites Industry Segmentation
The Polyurethane Composites Market report includes:
| By Fiber Type | |
| Glass | |
| Carbon | |
| Others |
| By End-user Industry | |
| Transportation | |
| Building & Construction | |
| Electrical & Electronics | |
| Wind Energy | |
| Others |
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Polyurethane Composites Market Size Summary
The polyurethane composites market is poised for growth, driven by the increasing demand for lightweight materials, particularly in the transportation sector. These composites are valued for their superior characteristics, such as being lightweight, highly stable, durable, and heat-resistant, making them ideal for various applications in vehicles and commercial airlines. The transportation industry, along with the building and construction sectors, is a significant consumer of polyurethane composites, utilizing them in components like window frames, cladding panels, and structural elements. Despite the promising growth prospects, the market faces challenges such as high production costs and a slowdown in global automotive production, which could impede its expansion.
The Asia-Pacific region is expected to lead the global polyurethane composites market, with substantial consumption in countries like China, India, and Japan. This dominance is attributed to the rising demand from the building and construction, transportation, and aerospace and defense industries in these countries. Government initiatives and investments, particularly in infrastructure and defense, are further bolstering market growth in the region. The market is characterized by a partial fragmentation, with key players like BASF SE, Covestro AG, and Huntsman International LLC holding a marginal share. These companies are instrumental in driving innovation and meeting the growing demand for polyurethane composites across various industries.
Polyurethane Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for the Lightweight Materials From the Transportation Industry
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1.1.2 Growing Demand from the Building and Construction Industry
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1.2 Restraints
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1.2.1 Slowdown in the Global Automotive Production
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1.2.2 High Production Costs
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 By Fiber Type
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2.1.1 Glass
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2.1.2 Carbon
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2.1.3 Others
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2.2 By End-user Industry
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2.2.1 Transportation
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2.2.2 Building & Construction
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2.2.3 Electrical & Electronics
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2.2.4 Wind Energy
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2.2.5 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Polyurethane Composites Market Size FAQs
What is the current Polyurethane Composites Market size?
The Polyurethane Composites Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Polyurethane Composites Market?
BASF SE, Covestro AG, Huntsman International LLC, ELANTAS and Henkel Corporation are the major companies operating in the Polyurethane Composites Market.
