International.
The global polyurethane market was valued at US$41.83 billion in 2015 and is projected to reach US$56.76 billion in 2021, at a CAGR of 5.6% from 2016 to 2021.
The market is driven by the growing trend in the manufacture of lightweight and low-carbon vehicles and the improvement in living standards.
In 2015, the end-use bedding and furniture industry accounted for the largest market share in terms of volume, followed by buildings and construction, white goods and appliances, and automotive and transportation end users. The main consumers of flexible foam are users of bedding and furniture. Increasing urbanization and improvement of the standard of living of populations, increasing use of low-cost materials in building insulation and white items, drive the polyurethane market.
Rigid foam products based on polyurethane systems are estimated to grow at the highest CAGR from 2016 to 2021, in terms of volume. The excellent properties of rigid foam products, such as easy availability, low cost, recyclability and ease of use, are driving demand from this segment.
