Polyurethane market revenues to reach approx. US$74 bln by 2022

19-Feb-16

Due to its positive characteristics, Polyurethane is suitable for various application areas: from construction to foams for furniture and bedding, in transportation as well as in the production of paints, coatings, adhesives and sealants. In 2014, a worldwide turnover of US$50 bln was achieved with PUR. The market research institute Ceresana expects annual revenues to increase by 4.8% p.a. to approximately US$74 bln until 2022. A significant influencing factor for the PUR production is the increasing focus on energy efficiency. Reasons therefore are the climate change, the increasing mobility and the necessity for conserving of resources. Especially in the segment of construction, which is one of the largest application areas of Polyurethane, this leads to an increased use as insulation? Here, the country specific measurements of government aid for an increase in energy efficiency are a major influencing factor. Ceresana expects that globally, the demand in the construction segment will rise by 4.6% p.a. in the future. In order to create a full transparency of the PUR market, the analysts of Ceresana examined the two primary products methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI) as well. Due to the different application areas of TDI and MDI based PUR, the demand for PUR, MDI, and TDI will be split by respective applications in detail. MDI based PUR generated almost 55% of the annual PUR demand in 2014. Additionally, its annual growth of 4.2% will be above the one of TDI. This is a result of the positive development of the construction industry where MDI based PUR is dominant and the weaker development of furniture and bedding which is the most important sales market for TDI.