Polyurethane Additives Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Polyurethane Additives Market Definition:

Polyurethane additives are chemicals used to optimize the performance of polyurethane polymers. They assist in increasing the polymer’s properties, which has an impact on the polymer’s processing speed and stability. Polyurethane additives lead to the increased effectiveness of polyurethane foams and improve the ultimate foam performance.

 

Further, the Polyurethane Additives market is segmented by Product, Age Group, Distribution Channel, and geography. On the basis of Type, the Polyurethane Additives market is segmented under Catalysts, Surfactants, Fillers, Flame Retardants and others. Based on the Application, the Polyurethane Additives market is segmented under the Foams, Adhesives & sealants, Coatings, Elastomers and Others. Based on the End-use Industry, the Polyurethane Additives market is segmented under Automotive & transportation, Building & construction, Bedding & furniture, Electronics and Others. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Polyurethane Additives Market Dynamics:

The increased need for cost-effective and innovative additives: Mattresses, furniture cushioning, bedding, carpet underlay, vehicle interiors, and other sectors use flexible polyurethane foam. These polymers are easily ignitable due to their high cellular content. 

 

This property restricts its use in areas where it must comply with specific fire regulations, as the fire hazards associated with the use of such polymeric materials, which can result in the loss of lives and properties, are of great concern to government regulatory bodies, customers, and manufacturers. 

 

This increases the demand for innovative additives that limit the flammability of polyurethanes, such as flame retardants. To fulfil the need for the required additives, a broad variety of flame retardants like inorganic phosphorus, halogen, nitrogen, and phosphorus-halogen-based compounds are utilised. This increased need for cost-effective and innovative additives is driving the Polyurethane Additives Market.

 

Fluctuations in the prices of raw materials: The majority of the raw ingredients required to make polyurethane come from crude oil. In 2020, Brent crude oil spot prices reached USD 40 per barrel in June, which was previously USD 22 per barrel in April. 

 

As the Organization of the Petroleum Exporting Countries (OPEC) decided to prolong the deepest production reductions through July, prices increased, and several areas that had been under lockdown requested additional liquid fuels.

 

Due to decreased supply and increased demand, the global oil inventory declined slightly from December 2019 to June 2020. The global oil inventories reached 8.4 million barrels each day, resulting in a dramatic reduction in crude oil prices. Because of the volatility of crude oil prices, raw material costs for polyurethane additives also fluctuates, resulting in restraining the growth of the Polyurethane Additives Market.

 

Increased demand for eco-friendly polyurethane additives: Some polyurethane additives are harmful, and their use is restricted due to their damaging effect on the mechanical characteristics of the polymer. As a result, selecting eco-friendly and human-safe products has become essential.

 

Some alternate polyurethane additives are attracting scientific interest. These are renewable and natural substances that can improve the flame resistance of other polymers. As associated technology develops, there is always room for improvement. As a result, increased demand for eco-friendly polyurethane additives is a great opportunity for the Polyurethane Additives Market.

 

The growing pressure of regulatory authorities on the use of environmentally friendly products:

Many regulations are implemented in various countries to produce a sustainable environment. Various rules put pressure on chemical companies to provide eco-friendly goods. The Environmental Protection Agency (EPA) has prohibited a few environmentally dangerous compounds.

 

Extensive research is carried out in order to manufacture eco-friendly goods. Laws are harsher in some European nations and in California (US), as a result, pressure is increasing on chemical companies to provide eco-friendly alternatives that give the exact same performance and quality as non-environmentally friendly chemicals. This is the only challenge for Polyurethane Additives Market.

 

Polyurethane Additives Market COVID-19 Insights:

The COVID-19 outbreak and associated stoppage in production activity impacted a variety of end-use sectors, including automotive and transportation, building and construction, bedding and furniture, electronics, and others. 

 

As a result, the polyurethane additives market was impacted in 2020. Supply chain disturbances, logistical limitations, labour unavailability, dropped demand, restricted supply of components, and poor organizational liquidity hampered the growth of the polyurethane additives market.

 

Market Trends:

• In December 2021, Covestro and Eco-Mobilier announced a collaboration to collect and recycle unwanted furniture in order to produce value for mattresses. Both parties are looking to build waste markets of foam used in the certain application so that it may be utilised in high-efficiency chemical recycling processes at the industrial level.
• In December 2021, BASF announced the launch of Elastollan Thermoplastic Polyurethane (TPU) for use in the apparel, furniture, and automobile sectors.
• In November 2021, Evonik formed a partnership with The Vita Group to develop an effective method for recycling polyurethane mattresses.

 

Polyurethane Additives Market Segment Analysis:

By Type, the Flame retardants segment dominated the Polyurethane Additives Market with 35% share in 2023. Flame retardants include organohalogen and organophosphate compounds such as polybrominated diphenyl ethers (PBDEs) and chlorinated trisiloxanes (CTXs) (TDCPP). These are used to make high-quality polyurethanes, which are employed in a variety of industries including electronics, automotive, and construction. As a result of the increased usage of flame retardants in the manufacture of polyurethanes, the market for polyurethane additives is expected to grow during the forecast period.

 

 

By Application, the Foam segment dominated the Polyurethane Additives Market with 37% share in 2023 and is expected to grow at a CAGR of 4.3% during the forecast period.

Polyurethane additives aid the exceptional results of polyurethane foams and generate benefits in final foam performance. The additives employed in the production of polyurethane flexible foams are used to improve the comfort attributes of mattresses, upholstered furniture, and automotive interiors. 

 

Polyurethane Additives Market Regional Insights:

Asia Pacific region dominated the Polyurethane Additives Market with 34% share in 2023 and is also expected to high CAGR of 6.1 % during the forecast period.

The increased need for polyurethane foams, polyurethane coating, polyurethane elastomer, and polyurethane adhesives from different end-use sectors like construction, transport, electronics, and packaging is driving the demand for polyurethane additives in the area. The growing manufacturing of automobiles in rising economies such as India, Japan, and China are driving demand for polyurethane additives.

 

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 global market, key players in the market, particularly in North America and Europe, 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 Global Polyurethane Additives market to the stakeholders in the industry. The report provides trends that are most dominant in the Global 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 Global 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 Global 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 Global 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 Global 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 Global Polyurethane Additives market. The report also analyses if the Global 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 Global Polyurethane Additives market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Polyurethane Additives market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Polyurethane Additives market is aided by legal factors.

 

Polyurethane Additives Market Scope:

Polyurethane Additives Market
Market Size in 2023	USD4.91 Bn.
Market Size in 2030	USD7.49 Bn.
CAGR (2024-2030)	6.2%
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 industries Automotive & transportation Building & construction Bedding & furniture Electronics Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Polyurethane Additives Market Key Players: 

• Evonik Industries (Germany)
• BASF (Germany)
• Huntsman Corporation (US)
• Covestro (Germany)
• Kao Corporation (Japan)
• The Dow Inc. (US)
• Lanxess AG (Germany)
• Albemarle Corporation (US)
• Tosoh Corporation (Japan)
• Momentive (US)
• BYK (US)
• Air Products and Chemicals, Inc. (US)