The global industrial PU elastomers market is anticipated to grow at a considerable CAGR of 6.4% during the forecast period (2024-2031). The rising demand for bio-based PU elastomers will generate new opportunities for the market in the near future as such elastomers are biodegradable, economical in cost, easily available, and having a lower environmental impact. These types of elastomers are developed from vegetable oils, cashew nut shell liquid, terpene, eucalyptus, and other bio-renewable sources. Various market players had launched bio-based PU elastomers by considering the growing trend.
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For instance, in January 2021, Audia Elastomers had launched its AudiaFlex family of sustainable thermoplastic elastomers. The AudiaFlex family is comprised of customizable grades which are produced from post-consumer, post-industrial, bio-based, and marine-based sources. Moreover, Lanxess had launched a new range of MDI polyether prepolymers in August 2019 under the brand name Adiprene Green. These polymers are developed from bio-based raw materials which have similar properties to fossil-based polyether elastomers served by the company. The growing inclination of manufacturers towards the launch of bio-based PU elastomers is anticipated to a key factor driving the global industrial PU elastomer market.
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Market Coverage
- Segment Covered-
o By Type
o By Additives
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- BASF SE, Bayer CropScience Ltd., DuPont de Nemours, Inc., The Dow Chemical Co., 3M Co., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Industrial PU Elastomers Market Report Segment
By Type
- Thermosetting PU Elastomers
- Thermoplastic PU Elastomers
By Additives
- Pigments
- Blowing Agents
- Fillers
- Smoke Retardants
- Flame Retardants
By Application
- Transportation
- Industrial
- Building & Construction
- Medical
- Footwear
- Others (including Mining Equipment, Furniture, Adhesives and Sealants)
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