Polyurethane Additive Market is Segmented By Type (Catalysts, Surfactants, Fillers, Blowing Agents, Flame Retardants, Others), By Application (Foams, Adhesives & sealants, Coatings, Elastomers, Others), By End-User (the Automotive & Transportation, Building & Construction, Furniture & Bedding, Electrical & Electronics, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Polyurethane Additive Market Size
The global polyurethane additive market has reached USD YYmillion in 2022 and is expected to reach USD YYmillion by 2030, growing at a high CAGR during the forecast period 2023-2030.
Polyurethane additives are specific additives applied to or used to improve the quality of the resin. Further, the additives influence the performance of polyurethane foams and provide benefits in the final foam performance. The additives increase polyurethane's physical, thermal, mechanical, chemical, electrical, and gas penetration properties.
Polyurethanes (PU) are very flexible polymeric materials employed in various applications in daily life. The materials provide exceptionally resistant surfaces and long-lasting bonding in adhesives and coatings. In addition, the material is even more common in foams and can be found in furniture and everyday consumer items such as appliances, insulating materials, gaskets, and other applications. As a result, polyurethane additives are critical elements in producing polyurethane, widely used in appliances, furniture, car interiors, construction materials, insulation, electronics, and other applications.
Polyurethane Additive Market Scope
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Type, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Source: DataM Intelligence Analysis (2023)
Polyurethane Additive Market Dynamics
The demand for polyurethane-based sustainable synthetic leather is expected to drive the global waterproofing system. In addition, the increased application of polyurethane insulation to reduce energy consumption supports the utilization of the polyurethane additives market. However, price volatility in raw materials is likely to restrain the market.
The demand for polyurethane-based sustainable synthetic leather
Over 2 million metric tons of polyurethane-based artificial leather were produced in 2016, ranging from shoes and clothing to bags and belts and almost all were produced using dimethylformamide (DMF) coagulation, a process in which a paste containing extremely high levels of the toxic solvent DMF is applied to a textile fabric and then dried. Therefore, some hundred thousand tons of hazardous DMF were used to create artificial leather in 2016.
However, significant attempts have been made in recent years to develop alternative, more environmentally friendly technologies for making polyurethane-based artificial leather. In synthetic leather manufacturing, additive solutions provide exciting alternatives to DMF coagulation. The additive solutions have a lower environmental impact and are gaining market share over the more conventional DMF coagulation technique.
Evonik Industries provides polyurethane-based artificial leather and foam that utilizes stabilizers, viscosity enhancers, and dispersing agents to aid in the foaming of water-borne polyurethane dispersions. Furthermore, additives such as silicone surfactants and curing catalysts are being developed to aid in the regulation of the reactivity of the polyurethane coating during the manufacturing of 2K artificial leather.
Further, in November 2021, Evonik Industries strengthened its position in the polyurethane market by opening a new state-of-the-art laboratory and research facility at its Essen Goldschmidt location in Germany. The new 400-square-meter laboratory would help the group create high-performance specialty polyurethane additives and processing aids for many polyurethane applications. The emphasis is on high-growth application areas such as sustainable artificial leather.
The increased application of polyurethane insulation to reduce energy consumption
Liquid polyurethane systems fill between refrigerators' outer and inner surfaces, then polymerize between the walls to offer a high level of stability and excellent insulation. The K-factor describes the final performance of any PU system, including the degree of foam defects caused by insufficient flowabilities, such as voids or splits.
Aside from this application, polyurethane is an effective heat insulator, with numerous applications ranging from warm water boilers to cooling warehouses. Insulation panels offer an excellent mix of insulating performance and construction-phase applicability. Therefore, using polyurethane foams for the cold and hot chains may deliver a high-efficiency level while drastically lowering the energy usage for these applications.
Price volatility in raw materials is likely to restrain the market
The raw materials utilized to make polyurethane are mostly derived from crude oil. According to the Energy Information Administration (EIA), Brent crude oil spot prices in 2020 averaged USD 40 a barrel in June, up from multi-year lows in April. After OPEC+ countries decided to extend the most severe output restrictions, prices climbed, while several previously shut-down areas wanted additional liquid fuels.
Furthermore, the global oil inventory averaged 8.4 million barrels per day, causing crude oil prices to plummet dramatically. Because of crude oil prices volatility, raw material prices for polyurethane additives are volatile.
COVID-19 Impact on Polyurethane Additive Market Growth
Several countries' economic growth has slowed due to the COVID-19 pandemic, owing to the stoppage of manufacturing facilities, decreased demand, and supply chain disruption. The automotive and construction industries are the most significant industries that use polyurethane additives, severely impacted by COVID-19. During this pandemic, raw material suppliers, OEMs, and other linked businesses are being pushed to rethink their strategies to serve the industry.
Moreover, residential and commercial buildings have been halted because of the pandemic. Supply chain interruptions, logistical constraints, workforce unavailability, limited component availability, low corporate cash, demand reduction, and manufacturing halt due to lockdown in several nations have all negatively impacted the industry.
Polyurethane Additive Market Segment and Shares Analysis
Based on end-user, the global polyurethane additive market is segmented into automotive & transportation, building & construction, furniture & bedding, electrical & electronics, and others.
One of the most diversified applications of polyurethane materials is in the automotive industry. In the automotive business, nearly every form of polyurethane product is employed. Flexible polyurethane foams are utilized in headrests, seating, armrests, and other automobile interior systems such as trains and buses. Polyurethane coatings provide a high gloss, scratch and corrosion protection, and durability to the exterior of a car. In addition, the coatings are also utilized to improve windshields and windows' strength and fog resistance.
Many vehicle elements, particularly exterior body parts, are made from thermoplastic polyurethane materials. Seating is the most common use of the material in the automotive sector. More than 90% of autos globally have bonded windshields and rear windows made using one-component polyurethane sealants.
Moreover, the automotive sector is the primary consumer of reaction injection molding (RIM) polyurethane products. RIM increases the shock absorption of car fenders, bumpers, and spoilers while adding little weight or size.
Source: DataM Intelligence Analysis (2023)
Polyurethane Additive Market Geographical Analysis
The global polyurethane additive market is segmented into North America, Europe, South America, Asia-Pacific, and the Middle East & Africa based on geography.
Asia-Pacific is estimated to be the significant market for polyurethane additives over the forecast period owing to increased urbanization, disposable income and thus growing end-users, particularly automotive and building & construction industries. China, Australia, Korea, and India account for the vast majority of demand.
Building and construction in China is the growing sector in Asia-Pacific. The polyurethane market is expanding as China's commercial development, construction and high-end real estate have experienced rapid growth. In addition, implementing energy-saving initiatives is likely to stimulate demand for polyurethane additives in the region.
Moreover, China is one of the world's top vehicle producers as the country manufactured 25,225,242 automobiles in 2020. In addition, the growing popularity of electric vehicles in the country is likely to drive demand for polyurethane additives throughout the forecast period. The Chinese government intends to have a minimum of 5,000 fuel-cell electric vehicles (EVs) by 2025 and a million by 2030.
Source: DataM Intelligence Analysis (2023)
Polyurethane Additive Companies and Competitive Landscape
The global polyurethane additive market is highly competitive and consolidated with multinational businesses. Major players in the market include Evonik Industries, Dow Inc., BASF SE, Covestro, Lanxess AG, Albemarle Corporation, Huntsman Corporation, Tosoh Corporation, Momentive, and BYK, among others. The major players in the market are known to incorporate numerous market strategies to achieve growth in the global Polyurethane Additive market; these include mergers, product launches, acquisitions, contributions, and collaborations.
BASF SE
Overview: BASF SE is a Germany-based multinational chemical business and chemical producer. The BASF Group has a global presence with subsidiaries and joint ventures in over 80 countries, 6 integrated manufacturing sites, and 390 other manufacturing sites throughout Europe, Asia-Pacific, the Americas, and Africa. The company's headquarters are in Ludwigshafen, Germany.
Product Portfolio: BASF SE offers Basionics VS 03, an antistatic additive for molding polyurethane foams and compounds. It can be utilized as a highly efficient addition in various polymers to meet customers' antistatic requirements.
Key Development:
- In September 2021, BASF SE and Sanyo Chemical signed a Memorandum of Understanding (MoU) to develop polyurethane dispersions (PUDs). The companies intend to develop and create innovative goods that contribute significantly to long-term sustainability. Through the global production footprints of the two enterprises, newly created technology and products will have global market access.
Why Purchase the Report?
- To visualize the global polyurethane additive market segmentation by type, application, end-user, and region and understand key commercial assets and players.
- Identify commercial opportunities in the global polyurethane additive market by analyzing trends and co-development.
- Excel data sheet with numerous data points of polyurethane additive market-level with three segments.
- PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping available as excel consisting of key products of all the major market players
The global polyurethane additive market report would provide approximately 61 tables, 59 figures, and almost 199 pages.
Target Audience 2023
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Automotive Companies
- OEMs
- Building and Construction Business
- Research Professionals
