The report “Polyurethane Catalyst Market by Type, Functionality (Blowing Catalyst, Curing Catalyst, Foam Stabilizing Catalyst, Cross Linking Catalyst, Gelling Catalyst), Application (Foam, Sealant & Adhesive, Coating, Elastomer), Region – Global Forecast to 2028″, is projected to reach USD 3.1 billion by 2028, at a CAGR of 6.0% from USD 2.3 billion in 2023. The Polyurethane Catalyst market is mainly driven by the demand from various end use industries such as construction, automotive and electronic appliances, others. It is also driven by developing and emerging economies such as US and China.
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• 191 Market data Tables
• 45 Figures
• 205 Pages and in-depth TOC on “Polyurethane Catalyst Market – Global Forecast to 2028”
Some of the prominent key players are:
- BASF SE Germany)
- Evonik Industries AG (Germany)
- Huntsman International LLC (US)
- Momentive (Niskayuna)
- Tokyo Chemical Industry Co., Ltd. (Japan)
- DOW (US)
- Tosoh Corporation (Japan)
- Carpenter Co. (US)
- Mofan Polyurethane CO., LTD. (China)
- UMICORE (Brussels)
Driver: Increasing demand for energy efficient manufacturing processes.
The global emphasis on energy efficiency is a prominent driving factor in the polyurethane catalyst market. As concerns about climate change and environmental sustainability escalate, there is a growing need to reduce energy consumption and minimize greenhouse gas emissions. Polyurethane materials, particularly in the form of foams, offer exceptional thermal insulation properties that contribute to energy conservation in various applications.
Catalysts play a crucial role in the production of polyurethane foams used for insulation purposes. These foams, commonly employed in buildings, appliances, and industrial equipment, effectively reduce heat transfer, maintaining indoor temperatures and reducing the need for excessive heating or cooling. As a result, energy consumption is lowered, leading to cost savings for consumers and businesses alike.
The rising demand for energy-efficient solutions is also fueled by consumer awareness and preferences. Individuals and businesses increasingly seek products that contribute to lower energy bills, reduced environmental impact, and improved comfort. As a result, there’s a higher market demand for polyurethane foam insulation, and consequently, for the catalysts that enable its efficient production.
“Elastomers accounted for the largest share of the polyurethane catalyst market in 2023” in terms of value.These elastomers exhibit a level of flexibility and elasticity akin to that of rubber, enabling them to undergo substantial deformation without enduring permanent changes. This inherent resilience allows them to effortlessly revert to their original shape after being stretched or compressed, a trait particularly advantageous in scenarios where materials are subjected to dynamic forces. Beyond their flexibility, polyurethane elastomers possess inherent durability and resistance to wear, rendering them exceptionally well-suited for applications marked by constant stress, friction, and exposure to abrasive surfaces. This unique combination of attributes places them at the forefront of industries requiring enduring and robust solutions, finding their way into diverse applications such as wheels, seals, gaskets, and other components. “North America was the largest market for polyurethane catalyst Market in 2023, in terms of value.”The growth of the polyurethane catalyst market in North America is propelled by the region’s reputation as a hub of industrial expansion and innovation, with several key industries experiencing remarkable growth. The construction, automotive, furniture, and electronics sectors, all heavy users of polyurethane products, have been on an upward trajectory, leading to heightened demand for these versatile materials. This surge in demand creates a direct need for specialized polyurethane catalysts, essential for supporting efficient production processes, fine-tuning material properties, and meeting the stringent requirements of these burgeoning industries. |
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