Worldwide demand within the polyurethane market is set to grow at a compound annual growth rate (CAGR) of 5.8% from 12,018,579 tons in 2010, to 16,882,412 tons in 2016, with the Asia-Pacific region accounting for over 60% of this figure.
Polyurethane market growth is set to be driven by the resurgent demand from construction, furniture and bedding, and automotive markets. The need for low-cost and long-lasting materials and rising significance of energy efficiency in appliances and buildings is expected to foster growth in the market.
Global demand for polyurethane has steadily increased, due in no small part to Asia's booming economies. Asia-Pacific represents the fastest growing segment within the polyurethane market and is set to show a CAGR of 4.9% through to 2015.
Over the last decade, polyurethane manufacturing companies have moved into Asia in order to take advantage of lower production costs.
Polyurethane rigid foam as an insulation material is becoming more widely used in the Asia-Pacific region, as well and Central and South America, as governments formulate more policies promoting energy efficiency and conservation.
The increase in the number of production facilities in countries such as China is considered to be the primary reason for polyurethane market growth - an assertion reinforced by an Asia-Pacific share of 53.5% of the total global demand in 2010.
For more information on the polyurethane market, see the latest research: Polyurethane Market Report
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