High-Performance Polyurethane Elastomers Market
Polyurethane (PU) elastomers are a type of a large group of elastic polymers known as rubber. PU elastomers find applications in a variety of products including footwear (shoe soles), wheels and tires, run-flat tires, tire fill products, seals, gaskets, spring aids, truck bed liners, coatings, construction equipment, and machinery parts such as pulleys, belts, and bearings. Key characteristics of high-performance polyurethane elastomers include high elasticity & tensile strength, robust tear strength, high abrasion resistance, and impact resistance, and high-temperature compatibility. Other important properties include adhesiveness, moisture & corrosion resistance, flame resistance, weather & oxidation resistance, high load-bearing capacity, and superior mechanical properties. Commonly known methods for processing PU elastomers are casting, thermosetting, melt processing, calendaring, extrusion, molding, and spreading.
Market Size – USD 19.27 Billion in 2020, Market Growth – at a CAGR of 4.3%, Market Trends – Rise in the demand from the footwear sector.
The global high-performance polyurethane elastomers market revenue growth is primarily attributed to factors such as growing demand in the automotive, construction, manufacturing, electronics, paints & coatings, and other industries, owing to the robust properties of the product such as lightweight, high durability, tear & cut resistance, high-temperature resistance, flame resistance, and abrasion resistance.
Increasing use of high-performance polyurethane elastomers in automobile body panels, bumpers, and various exterior and interior components, growing used as an insulating material for electronic appliances such as refrigerators, technological advances in polyurethane elastomers, and rising demand for bio-based polyurethane for various medical and 3D printing applications are among the other key factors driving revenue growth of this market.
High-Performance Polyurethane Elastomer Market is expected to reach a market size of USD 27.19 Billion at a rapid CAGR of 4.3% in 2028
New product launches by market players are expected to further boost the global high-performance polyurethane elastomers market revenue growth over the forecast period. For instance, in January 2022, Carlisle Polyurethane Systems, a global leader in the manufacturing and distribution of high-performance, protective coatings, introduced its new Intellathane product line comprising impact-resistant and abrasion-proof elastomeric coatings.
Major companies operating in High-Performance Polyurethane Elastomer Market are BASF SE, Covestro AG, DowDuPont, Eurofoam Group Co., Huntsman Corp., Recticel SA, Mitsui Chemicals, Wanhua Industrial Group, Armacell Enterprise GmbH & Co. KG, Carpenter Co.
These coatings are engineered to resist flaking, cracking, peeling, and bubbling, and they prevent denigration caused by repetitive impacts, weathering, harsh chemical environments, and extreme temperatures. In October 2021, leading American chemicals company Huntsman Corporation launched its all-new range of high-performance, low-emission, MDI-based polyurethane foam systems for automotive interiors, under the RUBIFLEX® LE and ACOUSTIFLEX® LE product lines.
Emergen Research has segmented the global High-Performance Polyurethane Elastomer Market based on type, application, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Thermoset PU elastomers
- Thermoplastic PU elastomers
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Building & construction
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- the U.S.
- the U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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