Polyurethane Resin Market Segments, Opportunity, Growth and Forecast by End-Use Industry till 2030

Published March 29, 2023

The global polyurethane resin market size is expected to reach USD 1,056.2 Million in 2030 and register a revenue CAGR of 3.2% over the forecast period, according to a latest report by Reports and Data. Rising demand for cut and tear resistance resins and increasing adoption of polyurethane resins for wood and floor coatings are expected to drive market revenue growth during the forecast period. Increasing adoption of polyurethane adhesives in the footwear industry is expected to boost growth of polyurethane resin market in near future. Polyurethane adhesives help to decrease the fume or yellow coloring which is caused by over-heating. Polyolefin-based polyurethane adhesives provide high penetration and strong bonds to various materials, especially in footwear assembly which has led to rising demand for such adhesives. Polyurethane-based adhesives are also used in various applications during the manufacturing process of footwear such as lamination of shoe vamp, bonding of counter and insole, and foam pasting which is another factor increasing demand for such adhesives in footwear industry. This is expected to drive revenue growth of the market in near future. Additionally, increasing usage of these resins for the lamination and coatings of furniture and wooden products to provide high gloss appearance and smooth surface with high durability is also expected to drive revenue growth of the market.

However, concerns regarding environmental issues associated with these resins are some factors that could hamper revenue growth of the market during the forecast period. Polyurethane foam and resins emit toxic fumes if burned. Some polyurethane blowing agents produce greenhouse gases that have a negative impact on the atmosphere. Some polyurethane foams contain non-renewable fossil fuels that are harmful to the environment. Although not as toxic as many other chemicals, it is still harmful to the environment which is expected to restrain revenue growth of the market.

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Companies profiled in the global market report include The Dow Chemical Company, Covestro A.G., BASF SE, Huntsman Corporation, Eastman Chemical Company, Mitsui Chemical, Inc., DuPont de Nemours, Inc., Alchemie, Ltd., Shanghai Dongda Polyurethane Co., Ltd., Arakawa Chemical Industries, Ltd., and Perstorp Holdings AB.

Some Key Highlights in the Report

  • Water-based resins segment is expected to account for larger market share over the forecast period. Water-based resins are versatile and environment-friendly coating materials and are available in a wide range of harnesses and solids content. Their zero to low volatile organic content facilitates their formulation into a protective coating for a variety of substrates. This is expected to boost revenue growth of the segment.
  • Construction segment is expected to account for largest revenue share in global polyurethane resin market between 2022 and 2030. Rising demand for materials that are light, strong and durable, easy to install, flexible, and of high-quality during construction of buildings is expected to drive growth of the segment. It is widely used in construction owing to its insulating properties, flexibility, durability, and exemplary strength-to-weight ratio.
  • North America polyurethane resin market is expected to account for largest revenue share in the global market over the forecast period. Rising demand for polyurethane for the lamination and coatings of furniture and wooden floorings for aesthetic apparency is another factor expected to drive revenue growth of the polyurethane resin market.
  • On 03 March 2022, The Dow Chemical Company introduced a new VORASURF Silicone Surfactants product line. The new product is being introduced to meet growing demand for more energy-efficient and environment-friendly spray and building solutions. Silicone performance additives, surfactants, and release agents are among the solutions that the company has developed in collaboration with the polyurethane sector.

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For the purpose of this report, Reports and Data has segmented global polyurethane resin market based on resin type, application, and region:

Resin Type Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)

  • Solvent-Based Resin
  • Water-Based Resin
  • Others

Application Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)

  • Construction
  • Transportation
  • Pharmaceuticals
  • Paints & Coatings
  • Others

Regional Outlook (Revenue, USD Million, Volume, Kilo Tons; 2019-2030)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

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