Asia Pacific Polyurethane Additives Market: Industry Analysis and Forecast (2024-2030)

Asia Pacific Polyurethane Additives Market Definition:

Polyurethane additives are substances that are mixed into polyurethane polymers to improve their overall performance. Polyurethanes are widely utilised in a variety of sectors. These materials can be utilised to make products that can be used as isolating materials in the building sector. It can also be employed in a variety of automotive applications. 

 

Further, the Asia Pacific Polyurethane Additives market is segmented by product type, distribution channel, and geography. On the basis of Type, the Asia Pacific Polyurethane Additives market is segmented under Catalysts, Surfactants, Fillers, Flame Retardants and others. Based on the Application, the Asia Pacific Polyurethane Additives market is segmented under the Foams, Adhesives & sealants, Coatings, Elastomers and Others. Based on the End-use Industry, the Asia Pacific Polyurethane Additives market is segmented under Automotive & transportation, Building & construction, Bedding & furniture, Electronics and Others. By geography, the market covers the major countries in Asia Pacific i.e., India, China, Japan, Australia and Rest of Asia Pacific, for each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

To get more Insights: Request Free Sample Report

 

Asia Pacific Polyurethane Additives COVID 19 Insights: 

The world's economy has suffered as a result of the COVID-19 pandemic. It has harmed several industrial sectors by disrupting the supply chain. After months of lockdown and the shutdown of foreign supply chains and retail companies, the purchase and consumption behaviour of customers has altered considerably across multiple sectors like automobiles and buildings. This has harmed the polyurethane additives market. 

 

Asia Pacific Polyurethane Additives Market Dynamics: 

Increased Demand from the Automotive Industry: The automobile sector is one of the greatest examples of polyurethane materials' various usage. In the automotive end-user sector, nearly every form of Polyurethane product is applied.

 

Flexible polyurethane foams are utilised in car seats, backrests, armrests, and other internal systems of airliners, trains, and buses. Polyurethane coatings give a high gloss, durability, resistance to abrasion, and corrosion protection to the exterior of a car. 

 

Polyurethane coatings are frequently utilised to improve the strength and fog resistance of windshields and windows. Due to the increased demand for automobiles in this region, the demand for polyurethane additives also increases. This drives the Asia Pacific Polyurethane Additives Market.

 

Price fluctuations in raw materials: Most of the raw materials used to create polyurethane additives are derived from crude oil. The oil inventory was reduced as a consequence of lower production and increasing demand, resulting in a substantial drop in crude oil prices. Because crude oil prices fluctuate, the price of raw materials for polyurethane additives fluctuates as well, limiting the growth of the Asia Pacific Polyurethane Additives Market.

 

Increase in the construction sector: China is among the world's largest countries, with the construction sector dominating practically all other industries in terms of growth. Polyurethane additives are vastly used in the construction sector for different purposes to create high-performance, lightweight goods that function effectively, are durable, and are adaptable. This is a great opportunity for the growth of the Asia Pacific Polyurethane Additives Market.

 

Asia Pacific Polyurethane Additives Market Segment Analysis:

By Type, the Flame retardants segment dominated the Asia Pacific Polyurethane Additives Market with 33% share in 2023.

Flame retardants come in a variety of forms, including chlorinated flame retardants, brominated flame retardants, phosphorous flame retardants, and certain inorganic flame retardants. Flame retardants are applied to a variety of items and materials ranging from electronic gadgets to furniture, which can help prevent or limit the spread of fires. Because of its ability to restrict the spread of fire towards the core material, these are used more as compared to the other types. Hence, this flame retardant segment dominated the market in 2023.

 

 

By Application, the Foam segment dominated the Asia Pacific Polyurethane Additives Market with 33% share in 2023.

The use of polyurethane additives in the production of polyurethane rigid foam helps to the superior insulating capabilities of refrigerators and building materials. The growing use of open-cell flexible polyurethane foam, which is made by combining auxiliary blowing agents, catalysts, and other additives, in upholstered furniture mattresses, automotive car seats and interior trim, and carpet cushion has also contributed to the growth of this segment in Asia Pacific Polyurethane Additives Market.

 

By End-use Industry, the Automotive & transportation segment dominated the Polyurethane Additives Market with 31% share in 2023.

Polyurethanes are employed in a variety of automotive components. In addition to the foam that makes automobile seats comfortable, polyurethanes are used in bumpers, interior ceiling parts, the car body, doors, and windows. Polyurethane allows automotive manufacturers to deliver much greater mileage to drivers and passengers by lowering weight and enhancing fuel efficiency, comfort, resistance to corrosion, insulation, and sound absorption.

 

Asia Pacific Polyurethane Additives Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Polyurethane Additives market to the stakeholders in the industry. The report provides trends that are most dominant in the Asia Pacific Polyurethane Additives market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Polyurethane Additives Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Polyurethane Additives market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Polyurethane Additives market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Polyurethane Additives market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Polyurethane Additives market. The report also analyses if the Asia Pacific Polyurethane Additives market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Polyurethane Additives market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Polyurethane Additives market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Polyurethane Additives market is aided by legal factors.

 

Asia Pacific Polyurethane Additives Market Scope:

Asia Pacific Polyurethane Additives Market Scope
Market Size in 2023	USD 1.57 Bn.
Market Size in 2030	USD 2.42 Bn.
CAGR (2024-2030)	6.4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Catalysts Surfactants Fillers Flame Retardants Others
	By Application  Foams Adhesives & sealants Coatings Elastomers Others
	By End-use Industry Automotive & transportation Building & construction Bedding & furniture Electronics Others
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Polyurethane Additives Market Key Players:   

• ADEKA Corporation (Tokyo, Japan)
• Asia Pu Manufacturing (Singapore)
• Dainippon Ink & Chemicals (Tokyo, Japan)
• BASF INOAC Polyurethanes (Japan)
• Tosoh Corporation (Japan)
• Kao Corporation (Japan)