Polyurethanes (PU) Market Revenue expected to reach US$57.4bn globally by 2016

According to a new market report published by Transparency Market Research ‘Polyurethanes (PU) Market: Global Industry Analysis, Size, Share & Forecast (2009 – 2016),Global PU product market revenue reached US$40.6bn in 2011 and is expected to reach US$57.4bn by 2016, growing at a CAGR of 7.2% from 2011 to 2016.Europe is expected to have the second largest market share after Asia Pacific by 2016.
Browse the detailed TOC at http://www.transparencymarketresearch.com/polyurethanes-market.html
In recent years PU (polyurethanes) market has witnessed double digit growth rate due to its broad range of applications such as rigid and flexible foams, paints and coatings, adhesives and sealants among many others. Polyurethane is mainly used as a substitute for metal, rubber, paint, cotton and other plastics. Key drivers of the polyurethane market include its environmental sustainability characteristics and healthy growth in the automotive industry. The key restraint in the polyurethane market is elevated pricing of raw materials such as crude oil, benzene and toluene.
MDI and TDI are the raw materials used to produce rigid polyurethane foams and flexible polyurethane foams respectively. Hence, prices of polyurethanes are directly dependent on raw material prices and indirectly driven by the crude oil and downstream feedstock prices. The recent instability in crude oil prices has shown ripple effect on prices of MDI, TDI and eventually polyurethanes. Key market player Bayer Material Science (Germany) announced a hike of USD 429 per ton in polyurethane prices in May 2011. The alternatives to polyurethane such as spring and other fibers can impact the polyurethane market to some extent due to increasing prices of PU.
Among all the geographical regions, Asia Pacific is leading in terms of production and consumption of the PU products.Asia Pacific is emerging as a highly competitive market, while the opportunities in this segment are growing due to the evolving economy and rising standards of living. Increasing applications of polyurethanes in medical devices have drawn attention of major market players to focus on developing renewable feedstock for polyurethanes.
This report is an effort to identify factors, which will be the driving force behind the polyurethanes market and its sub-markets over the next five years. The report provides extensive analysis of the polyurethanes industry, current market trends for better understanding of the polyurethanes market. The study presents a comprehensive assessment of the global polyurethanes market on the basis of:
Raw Material
TDI
MDI

Applications
Flexible PU Foams
Rigid PU Foams
Adhesives and
Sealants
Coatings
Elastomers
Others

End-use Segment
Furniture and interiors
Construction
Electronics appliances
Automotive
Footwear
Packaging
Others

Geographies
North America
Europe
Asia Pacific
RoW

Countries Covered
Germany
U.K.
Italy
U.S.
Brazil
China
Japan
India