Polyurethane Catalyst Market 2022–30 — Tosoh Corporation (Japan), Covestro AG (Germany), BASF SE (Germany), Kao Corporation (Japan)
Rising Infrastructure Activities Fuels the Growth of Global Polyurethane Catalysts Market
Polyurethane is a polymer made up of organic units connected to urethane. Polyurethanes are produced from exothermic reactions between alcohols with two or more reactive hydroxyl groups per molecule and isocyanate with more than one reactive isocyanate per molecule. Polyurethane catalysts help to facilitate the formation of polyurethane. This also modifies the reaction conditions and the final product. Catalysts play a crucial role in the manufacture of polyurethane foam. The development of polyurethane foam requires a regulated environment given by polyurethane catalyst. New low-emission, high-efficiency catalysts help manufacturers produce environmentally friendly foams. Broadly polyurethane catalysts can be categorized as amine and metallic catalysts. They are used in the formulation of various polyurethane products such as rigid foam, flexible foam, elastomer, coating, and others. As a result, the demand for polyurethane catalyst for the development of rigid foam is expected to increase with an increase in the use of polyurethane in construction activities during the forecast period.
Market Research Future (MRFR) report focuses on polyurethane catalyst volume and value at global, regional, and company levels. From a global perspective, this study illustrates the overall size of the market for polyurethane catalyst by evaluating historical data and potential prospects.
Key Players
The key players in global polyurethane catalysts market are Tosoh Corporation (Japan), Covestro AG (Germany), BASF SE (Germany), Kao Corporation (Japan), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Evonik Industries AG (Germany), Polychemie Asia Pacific Permai (Indonesia), Suzhou Xiangyuan Special Fine Chemical Co., Ltd (China), Gulbrasnson Chemical Pvt. Ltd. (India).
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Market Dynamic
As polyurethane catalyst is one of the main components of polyurethane, trends in production and supply are essential for the Polyurethane industry. Global factors affecting the polyurethane market are expected to affect polyurethane catalyst equally. As polyurethane products are used in almost all sectors, the demand for polyurethane is already high. In the last few years, the global market for polyurethane has been rising at a higher pace due to its improved ability to adapt. This growth will, in effect, be followed by polyurethane catalyst. Construction activities around the world are driving demand for rigid foams, which is expected to significantly help the polyurethane catalyst market to grow further. The rising demand for flexible foam from automotive and electronic applications will be the primary driver of the polyurethane catalyst market.
However, the intense competition from the polystyrene and fiberglass industries to the polyurethane industry is a significant issue for the demand of polyurethane catalyst. Uncertainty in the price of polyurethane catalyst raw materials is also a constraint. The growing production of environmentally friendly innovative products by companies, as well as the potential health hazards of polyurethane catalysts, can impede its growth in the market. Nonetheless, the cost-effectiveness of polyurethane will keep the demand for polyurethane catalyst up and continue to fuel the market during the forecast period.
Segmentation
The market for polyurethane catalysts has been segmented based on product type, applications, and region.
Based on product type, the market for polyurethane catalysts is segmented into triethylenediamine (TEDA) dibutyltin dilaurate, 1,4-diazabicyclo [2.2.2], dimethylthanolamine (DMEA), octane (DABCO), zinc compound, bismuth compound, and others. Among them, demand for TEDA, DABCO, bismuth, and zinc compound estimated to drive the global polyurethane catalyst market.
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Based on applications, the global polyurethane catalysts market is segmented into rigid foam, flexible foam, molded foam, elastomers, adhesives, coatings, and others. The demand for polyurethane catalysts in rigid foams for construction and insulation is expected to further fuel market development.
Region-wise, the market for polyurethane catalysts has been divided into the Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America.
The Asia Pacific is predicted to dominate the global market for polyurethane catalysts with a 45% market share as of 2016. Increased demand for polyurethane catalysts in the area is driven by rising construction activities conducted by both government and private players. Emerging countries such as India, China, and Japan are investing heavily in construction to boost demand for rigid foams. In addition to the growing demand from the automotive and transport sectors in these regions, the polyurethane catalyst market is expected to be further promoted.
Europe continues to have a large share of the global polyurethane catalyst market. In addition, demand for household insulation to improve energy efficiency, combined with regulatory requirements, will drive the regional market.
In terms of market size, North America has a relatively smaller market share in the global polyurethane catalysts Industry. Yet demand for automotive interiors, insulation, furniture, and living standards are increasing.
The Middle East & Africa is a fast-growing business opportunity. The regional demand for polyurethane catalysts has been driven by its demand for household insulation and by rising infrastructure activities.
At last, the lifestyle of people in Latin American countries, especially Brazil and Argentina, is changing. As a result, the demand for polyurethane catalysts for the manufacture of foams to be used in construction and automotive is anticipated to propel the growth of the regional market.
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