The global polyurethane (PU) market is anticipated to reach $105.2 billion by 2025, according to Research and Markets "Polyurethane Market 2014-2025" report. Urethane polymers are increasingly being used to address consumer needs in health, convenience and sustainability by means of applications such as adhesives, coatings, and insulation materials, among others.
Thermoplastic polyurethane (TPUs) are known to be widely used in automotive applications owing to their ability to integrate characteristics of both plastics and rubbers at a lower weight as compared to metal and other plastic materials. Innovative TPUs containing silicone diol with micro-structured surfaces are also being used as self-cleaning surfaces for marine vessels.
The report showed that flexible PU foams remained the dominant product, with about 27% volume share in 2015. The development of innovative, flexible foams containing latent aldehydes and displaying improved compression set have also introduced new growth avenues for industry participants. However, PU adhesives are anticipated to emerge as a fast growing product with a compound annual growth rate (CAGR) of 6.5%. Such specialty adhesives are suggested to be contributing to faster bonding and processing times in the construction and electronics sector while lowering production costs.
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