Yahoo Finance Southeast Asia Polyurethane Market to Reach USD 4.98 Billion by 2029 | Exhibiting a CAGR of 5.3%
Key companies covered in southeast asia polyurethane market are BASF SE (Germany), DOW Chemical Company (U.S.), Huntsman Corporation (U.S.), LANXESS (Germany), Covestro AG (Germany), FloorChem Asia Co., Ltd. (Thailand), Rogers Corporation (U.S.), Tosoh Corporation (Japan), INOAC Corporation (Japan), Asia Polyurethane Manufacturing (Singapore), and Other Key Players.
Pune, India, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Southeast Asia polyurethane market size was USD 3.32 billion in 2021. The market is projected to grow from USD 3.46 billion in 2022 to USD 4.98 billion by 2029, exhibiting a CAGR of 5.3% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Southeast Asia Polyurethane Market, 2022-2029.”
Report Coverage:
The report offers a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered.
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Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2022-2029 |
Forecast CAGR | 5.3 % |
2029 Value Projection | USD 4.98 Billion |
Base Year | 2021 |
Southeast Asia polyurethane Market Size in 2021 | USD 3.32 Billion |
Historical Data | 2018-2020 |
No. of Pages | 155 |
Segments Covered | By Type, End-user, and Regional Insights |
Southeast Asia polyurethane Industry Growth Drivers | Growing Demand for Foams from Furniture Industry to Augur Growth |
Dow Announces Product Expansion of VORASURF Silicone Surfactants to Foster Growth |
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.
List of Key Players Mentioned in the Report:
BASF SE (Germany)
DOW Chemical Company (U.S.)
Huntsman Corporation (U.S.)
LANXESS (Germany)
Covestro AG (Germany)
FloorChem Asia Co., Ltd. (Thailand)
Rogers Corporation (U.S.)
Tosoh Corporation (Japan)
INOAC Corporation (Japan)
Asia Polyurethane Manufacturing (Singapore)
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Segments:
Flexible Foam to Maintain Leading Type Owing to Rising Implementation from Furniture Application
Based on type, the market is segmented into rigid foam, flexible foam, molded foam, elastomers, adhesives & sealants, coatings, and others. The flexible foam segment held the largest market share in 2021.
Furniture Segment to Create Highest Revenue Due to Extension of Commercial and Residential Buildings
On the basis of application, the market is categorized into furniture, construction, electronics, automotive & transportation, packaging, footwear, and others. The furniture segment accounted for the biggest market share in 2021.
Drivers and Restraints:
Growing Demand for Foams from the Furniture Industry to Surge Product Demand
PU is chiefly utilized as a foam for furniture manufacturing, cushioning, and bedding. The flexible property of the material, sturdiness, and capability to offer comfort make it appropriate for usage in the furniture sector. However, the prompt demand for furniture is increasing in Southeast Asia owing to the fluctuating lifestyle of people and increasing population. This is predicted to fuel the Southeast Asia polyurethane market growth across the region.
Furthermore, the surging demand for chairs and sofas from the commercial sector is anticipated to sustain the demand for furniture in the construction industry.
Regional Insights:
Thailand to Lead Backed by Surging Utilization of the Product in the Automotive Industry
Thailand held the largest Southeast Asia polyurethane market share and stood at USD 1.17 billion in 2021. The market is predicted to maintain its position as the largest manufacturer throughout the forecast period. This surges product utilization in the production of automotive as well as electronic items. Moreover, the growing home furnishing industry is further bolstering the implementation of flexible PU foams.
On the contrary, the rising demand from the electronics and manufacturing industries is predicted to rise in market revenue in Malaysia. Moreover, prompt industrialization in this country is bolstering the widening of factories, thereby fueling product utilization in industrial flooring.
Automotive is the pioneering and leading manufacturing industry developing promptly in Indonesia. The product utilization in this industry can be primarily witnessed as a material for bearings, shock dampers, bushes, jigs, hangers, flexible couplings, and bushing.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/southeast-asia-polyurethane-market-106830
COVID-19 Impacts:
Pandemic Substantially Affected the Consumption of Polyurethane (PU) Owing to Mobility Constraint
Since the outbreak of the novel coronavirus in late 2019, several nations have inflicted limitations on material distribution and transportation, influencing the value chain of the component producers. First of all, various manufacturers witnessed a supply scarcity, at least for the first half of 2020, owing to trade limitations in prime industrial countries such as Thailand and Indonesia. As a consequence of this concern, the production competencies of the companies were hindered and the demand for PU products reduced.
Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
Latest Technological Advancement
Insights on Regulatory Scenario
Porters Five Forces Analysis
Qualitative Insights on Impact of COVID-19 on Southeast Asia Polyurethane Industry
Supply Chain Analysis & Challenges due to Covid-19
Steps taken by Government / Companies to Overcome this Impact
Potential Challenges and Opportunities due to COVID-19 Outbreak
Southeast Asia Polyurethane Industry Analysis, Insights and Forecast, 2018-2029
Key Findings / Summary
By Product Type (Value and Volume)
Rigid Foam
Flexible Foam
Molded Foam
Elastomers
Adhesives & Sealants
Coatings
Others
By Application (Value and Volume)
Furniture
Construction
Electronics
Automotive & Transportation
Packaging
Footwear
Others
TOC Continued…!
Key Industry Development:
March 2022: Dow declared a novel product expansion of VORASURF Silicone Surfactants to sustain the increasing demand for refined energy proficiency and supportable solutions in the PU foam market, particularly emphasizing spray and construction applications.
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