Polyurethanes market to reach USD 125.7 billion by 2032, driven by sustainability and construction demand.

From GlobeNewswire: 2024-12-05 09:10:00

The Polyurethanes (PU) Market is set to reach USD 125.7 billion by 2032, growing at a CAGR of 5.1% from 2024. Key drivers include sustainability focus and eco-friendly formulations. The building and construction sector leads in demand, especially for insulation applications. Raw material type Polyol held the largest market share in 2023 at 42%.

The building and construction sector dominated the PU market in 2023 with a 27% market share due to the rising adoption of polyurethane foam for insulation and sealing. Asia-Pacific led the market with a 56% share, driven by industrialization and urbanization. Recent developments include Covestro AG’s bio-based polyurethane solutions and Huntsman Corporation’s expansion in Thailand.

The Polyurethanes (PU) market’s growth is fueled by versatility, sustainability trends, and industry innovations. The market is poised for robust growth with increasing adoption in construction and automotive sectors. Asia-Pacific leads the market, with China and India as key players. SNS Insider offers market reports and consulting services for businesses.



Read more at GlobeNewswire: Polyurethanes (PU) Market Projected to Reach USD 125.7