Report: Polyurethane consumption set to grow 4.5 percent per year

URETHANES TECHNOLOGY INTERNATIONAL

Published: July 15, 2013 2:41 pm ET
Updated: July 15, 2013 2:42 pm ET

Related to this story

Topics Materials

The global market for polyurethane is will continue to grow in the foreseeable future, according to a new report from Ceresana Research.

Global demand will rise, "on average, 4.5 percent per year. Our research revealed that revenues generated on the global market for PU are likely to increase to more than US$80 billion," explains Oliver Kutsch, CEO of Konstanz, Germany-based Ceresana.

Asia-Pacific is the largest market, accounting for about 44 percent of global demand, followed by North America and Western Europe, says the report.

Ceresana forecasts the focus of PU demand to continue to shift towards Asia-Pacific, at the expense of saturated industrialized markets in Western Europe and North America. Demand in emerging countries, is profiting from a continuous increase of wealth.

Increasing demand, especially in the Asia-Pacific region means increasing capacity. Ceresana puts global capacity at 8.8 million metric tons, and says this will increase by more than 3 million metric tons by 2020.

Over 81 percent of new capacity will be created in Asia-Pacific. As the study explains in detail, especially the development of new PUR-based materials for an increasing number of applications is necessitating a significant increase of production capacity.

Markets are driven by larger middle classes, which demand greater comfort and from the building sector, for thermal insulation, says the report.

Besides PU, the study also contains separate analyses regarding the two preliminary products methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI).


Comments

Report: Polyurethane consumption set to grow 4.5 percent per year

URETHANES TECHNOLOGY INTERNATIONAL

Published: July 15, 2013 2:41 pm ET
Updated: July 15, 2013 2:42 pm ET

Post Your Comments


Back to story


More stories

Image

BASF pre-tax earnings rise, but will miss financial targets for 2015

October 24, 2014 10:16 am ET

BASF SE has raised its expectations for pre-tax earnings in 2014 but warned that it would not hit its financial targets for next year.    More

Image

Sabic, Shell cancel expansion for SADAF joint venture in Saudi Arabia

October 24, 2014 9:19 am ET

Saudi Basic Industries Corp. and Royal Dutch Shell have cancelled plans to expand an existing petrochemical joint venture in Saudi Arabia following...    More

Image

Sadara CEO says Middle East now has 20 percent of global ethylene capacity

October 24, 2014 9:33 am ET

Sadara CEO Ziad Al-Labban claims that the Middle East's ethylene capacity is now 20 percent of global production.    More

Image

PolyOne increases quarterly profits despite falling sales

October 23, 2014 4:55 pm ET

North American compounding leader PolyOne Corp. saw its third-quarter profit increase, even as sales fell vs. the year-ago period.    More

Image

Westlake adding ethylene capacity in Louisiana

October 23, 2014 9:54 pm ET

Westlake Chemical Corp. will add 250 million pounds of annual ethane-based ethylene capacity as part of a $330 million expansion project in Lake Charl...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events