Industrial PU Elastomer Market Insights by 2031 & Covid-19 Analysis | Lyondellbasell Industries, Gallagher Corp. and Argonics

Global Industrial PU Elastomer Market report from Global Insight Services is the single authoritative source of intelligence on Industrial PU Elastomer Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Industrial polyurethane (PU) elastomers are a class of polymeric materials that exhibit elasticity similar to rubber, yet can also be processed like thermoplastic polymers. Polyurethanes are made by reacting a polyisocyanate with a polyol. The most common polyols used are polyethers and polyesters.  The final properties of the polyurethane will depend on the specific ingredients used, as well as the processing method.

Key Trends

The key trends in Industrial PU Elastomer technology are the development of new types of polyurethanes that are more durable and have better performance characteristics. The development of new manufacturing methods that improve the quality and consistency of the product. And the development of new applications for polyurethanes in industry.

Key Drivers

The industrial PU elastomer market is driven by the rising demand for light weight and high-performance materials in various industries such as automotive, construction, and electronics. The superior properties of PU elastomer such as high strength, flexibility, and abrasion resistance make it an ideal material for a wide range of applications. The growing automotive industry in Asia-Pacific and the Middle East is another major driver of the industrial PU elastomer market. The increase in construction activities in these regions is also boosting the demand for PU elastomer.

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Restraints & Challenges

The key restraints in the Industrial PU Elastomer market are the volatile raw material prices and the stringent environmental regulations. The challenges in the market are the competition from the substitute materials and the lack of awareness about the benefits of PU elastomers.

The volatile raw material prices are the major restraint in the Industrial PU Elastomer market. The prices of the raw materials, such as isocyanates and polyols, have been fluctuating in the recent years, which has led to the increase in the cost of production of PU elastomers. This has adversely affected the profit margins of the manufacturers and has hindered the growth of the market.

The stringent environmental regulations are another restraint in the market. The manufacturing of PU elastomers generates a large amount of waste, which is hazardous to the environment. The disposal of this waste is regulated by various environmental agencies, which has increased the cost of production of PU elastomers.

The competition from the substitute materials is a challenge in the market. The PU elastomers are used in various applications such as in the automotive industry, construction industry, and footwear industry. The substitutes for PU elastomers, such as rubber and plastics, are available in the market at a lower cost. This has led to the loss of market share by the PU elastomer manufacturers.

The lack of awareness about the benefits of PU elastomers is another challenge in the market. The PU elastomers are superior to the rubber and plastic in terms of their properties such as flexibility, durability, and resistance to chemicals. However, the lack of awareness about these benefits among the consumers has led to the slow growth of the market.

Market Segments

The global Industrial PU Elastomer Market is segmented on the basis of type, end-use industry, and region. On the basis of type, the market is fragmented into thermoset PU elastomer and thermoplastic PU elastomer. Depending on end-use industry, it is segregated into transportation, industrial, medical, building & construction, mining equipment, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.

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Key Companies

The Industrial PU Elastomer Market includes players such as Covestro, Mitsui Chemicals, BASF, Dow DuPont, Huntsman Corporation, Chemtura, American Urethanes, Sinopec, Lyondellbasell Industries, Gallagher Corp. and Argonics.

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