Polyurethane Procurement Intelligence anticipated to grow at a CAGR of 4.4% from 2023 to 2030
Polyurethane Category Overview The polyurethane (PU) category is anticipated to grow at a CAGR of 4.4% from 2023 to 2030. The term polyurethane denotes a category of polymers made up of organic molecules connected by carbamate bonds. In 2022, the Asia Pacific region held a dominant position in the market, contributing over 45.1% of worldwide revenue. PU is widely used in numerous end markets, in a variety of forms such as flexible, rigid, elastomers, adhesives, coatings, sealants, and others. Hence, it plays a very important role in consumer markets. According to Plastics 2021 report, among polymers, PU held a market share of 8 – 10%, however, the category is gaining traction as companies increasingly focus on sustainability. For instance, manufacturers and suppliers have increased the pace of sustainable and bio-based PU commercialization dramatically. In recent times, the growing trend of consumers' interest in sustainability is reflected in the usage of polyurethanes in electr...