Polyurethane (PU) Resin Market (By Resin Type: Solvent-Based Resin, Water-Based Resins, Others; By Applications: Construction, Transportation, Pharmaceuticals, Paints & Coatings, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global polyurethane (PU) resin market was valued at USD 865.58 million in 2022 and it is predicted to surpass around USD 1,155.39 million by 2032 with a CAGR of 2.93% from 2023 to 2032.

Polyurethane (PU) Resin Market Size 2023 to 2032

Key Pointers

  • Water-based resin segment is expected to account for larger revenue share in global polyurethane resin market over the forecast period. 
  • Solvent-based resins segment is expected to register steady revenue growth rate over the forecast period.
  • Based on application, construction segment is expected to account for a considerably large market share over the forecast period.
  • Paints & coatings segment is expected to register steady revenue growth rate over the forecast period. 
  • Based on regional analysis, the market in North America is expected to account for largest revenue share in the global market during the forecast period.
  • The market in Asia Pacific is expected to register a steady revenue CAGR over the forecast period.

Report Scope of the Polyurethane (PU) Resin Market

Report Coverage Details
Market Size in 2022 USD 865.58 million
Revenue Forecast by 2032 USD 1,155.39 million
Growth rate from 2023 to 2032 CAGR of 2.93%
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Covered Covestro AG, BASF SE, Henkel AG, Koninklijke DSM N.V., Dow Polyurethane, Huntsman Corporation, DuPont, Wanhua Chemical Group Co., Shanghai Dongda Polyurethane, Qingdao Xinyutian Chemical

 

Rising demand for cut and tear resistance resins and increasing adoption of polyurethane resins for wood and floor coatings are factors expected to drive market revenue growth during the forecast period. Increasing usage of these resins for construction purposes and rising adoption of these resins for sealing, compressing, and insulation of circuit boards of electronic products are some other factors expected to boost market revenue growth during the forecast period.

Polyurethane resins are copolymers that are formed when an alcohol named polyol reacts with an isocyanate when proper additives and catalysts are introduced. Polyurethane resin in the US is expected to increase in volume by about 1.0% yearly, till 2024. They are widely used in cars and industrial applications as it provides high gloss coatings which have increased its adoption in such applications. Rising demand for these resins in commercial projects owing to its advantage of not losing thickness when dried is expected to drive revenue growth of polyurethane resin market. Increasing demand for these products for coating applications in architectural and furniture products are some other factors that are projected to increase adoption of polyurethane resins. This is expected to drive revenue growth of the market in near future. These resins have long shelf life after use, dries quickly, and can also be disposed of without any special precautions which are expected to increase its demand in various industrial projects.

Polyurethane resins are also widely used for the production of thermosets and elastomers which has increased its demand in industrial and commercial applications and is driving revenue growth of the polyurethane resin industry. These resins have better flow properties and can also be easily mixed and processed which makes it applicable for use in diverse industrial applications. This is expected to drive revenue growth of the market. A wide range of diisocyanates and polyols can be reacted to produce polyurethane resins and thus the use of polyurethane resins are numerous and widespread in many industries. Increasing usage of these resins by electronic device manufacturers to fix the parts, and wires and also to secure, insulate, and protect the components of the devices are some other factors expected to drive growth of the market. Polyurethane fibers are blended with nylon to create stretchy, lightweight fabrics and with advances in technology we have PU coatings, thermoplastic elastomers, and spandex. This has led to increased usage of such products in textile industry, which is expected to augment growth of the industry.

 The global chemical industry is a complex and important part of the global economy and supply chain networks. Chemical production involves converting raw materials such as fossil fuels, water, minerals, metals, etc. into tens of thousands of different products that are central to modern life as we know it. In 2019, the total revenue of the global chemical industry was about USD 4 trillion. As the chemical industry enters 2022, strong demand for basic chemicals and specialty chemicals is expected to keep prices high throughout the year. 

Polyurethane (PU) Resin Market Segmentations:

By Resin Type By Applications

Solvent-Based Resin

Water-Based Resins

Others

Construction

Transportation

Pharmaceuticals

Paints & Coatings 

Others

Frequently Asked Questions

The global polyurethane (PU) resin market size was reached at USD 865.58 million in 2022 and it is projected to hit around USD 1,155.39 million by 2032.

The global polyurethane (PU) resin market is growing at a compound annual growth rate (CAGR) of 2.93% from 2023 to 2032.

The North America region has accounted for the largest polyurethane (PU) resin market share in 2022.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Polyurethane (PU) Resin Market 

5.1. COVID-19 Landscape: Polyurethane (PU) Resin Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Polyurethane (PU) Resin Market, By Resin Type

8.1. Polyurethane (PU) Resin Market, by Resin Type, 2023-2032

8.1.1. Solvent-Based Resin

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Water-Based Resins

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Others

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Polyurethane (PU) Resin Market, By Applications

9.1. Polyurethane (PU) Resin Market, by Applications, 2023-2032

9.1.1. Construction

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Transportation

9.1.2.1. Market Revenue and Forecast (2020-2032)

9.1.3. Pharmaceuticals

9.1.3.1. Market Revenue and Forecast (2020-2032)

9.1.4. Paints & Coatings

9.1.4.1. Market Revenue and Forecast (2020-2032)

9.1.5. Others

9.1.5.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Polyurethane (PU) Resin Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.1.2. Market Revenue and Forecast, by Applications (2020-2032)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.1.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.1.4.2. Market Revenue and Forecast, by Applications (2020-2032)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.2.2. Market Revenue and Forecast, by Applications (2020-2032)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.2.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.2.4.2. Market Revenue and Forecast, by Applications (2020-2032)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.2.5.2. Market Revenue and Forecast, by Applications (2020-2032)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.2.6.2. Market Revenue and Forecast, by Applications (2020-2032)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.3.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.3.4.2. Market Revenue and Forecast, by Applications (2020-2032)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.3.5.2. Market Revenue and Forecast, by Applications (2020-2032)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.3.6.2. Market Revenue and Forecast, by Applications (2020-2032)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.4.2. Market Revenue and Forecast, by Applications (2020-2032)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.4.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.4.4.2. Market Revenue and Forecast, by Applications (2020-2032)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.4.5.2. Market Revenue and Forecast, by Applications (2020-2032)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.4.6.2. Market Revenue and Forecast, by Applications (2020-2032)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.5.2. Market Revenue and Forecast, by Applications (2020-2032)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.5.3.2. Market Revenue and Forecast, by Applications (2020-2032)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Resin Type (2020-2032)

10.5.4.2. Market Revenue and Forecast, by Applications (2020-2032)

Chapter 11. Company Profiles

11.1. Covestro AG

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. BASF SE

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Henkel AG

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Koninklijke DSM N.V.

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. LTE Scientific

11.5. Dow Polyurethane

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Huntsman Corporation

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. DuPont

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Wanhua Chemical Group Co.

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Shanghai Dongda Polyurethane

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Qingdao Xinyutian Chemical

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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