Polyurethane is one of the most significant polymer products in the plastic family. Structural and non-structural applications of polyurethane and its variants have become a natural and effective method for repair, strengthening, rehabilitation, and protection in many end-user industries. According to BlueQuark Research & Consulting, the global polyurethane market is expected to witness a moderate growth rate during the forecast period. Increasing demand in the construction and automotive industry and the growth of both sectors in emerging countries drive the development of the polyurethane market. However, the change in environmental concerns due to the toxic nature of polyurethane coatings is expected to hinder the market's growth in the forecasted period. 

In the construction industry, polyurethanes make high-performance products that are strong but lightweight, perform well, and are durable and flexible polyurethane foam. Polyurethane products can also help in improving the aesthetic design of homes and buildings. According to the United States, Environmental Protection Agency (EPA), completely cured polyurethane products are inert and non-toxic. Products like furniture and carpeting that contain polyurethane are fully healed before they are sold. Polyurethane is crucial in many high-efficiency sealants, insulation materials, and adhesives used in home and building construction. Polyurethane can be used as foam, binders, and elastomers. Rigid polyurethane foam is widely used as insulation materials because of the combination of cost-effectiveness and low heat transfer property. Flexible foam is used for cushioning in various consumer and commercial products such as furniture, bedding, carpet cushion, fibers, and textiles. The primary energy usage by households in the European Union is for heating their homes, which reported for more than 64% of the energy consumption in 2018.

Similarly, according to the United States Department of Energy, heating and cooling cost approximately 56% of the average American home's energy. With rigid foam, money can be saved while maintaining uniform temperature and decreasing noise levels. EPA evaluates that homeowners can save an average of 15% on heating and cooling costs and 11% on total energy prices by air sealing their homes and adding insulation. Present government regulations have established the minimum requirements on the construction standards, whether new construction or renovation. They consist of some parameters of thermal resistances for the enclosure, and, to meet them, new buildings are being constructed with highly efficient insulating products. Due to the continuing Covid-19 pandemic, a capital liquidity crunch is a chief issue for the property and construction sectors. Investment has been reduced across the market owing to the blocked cash flow of developers. For the developed project, the commercial business has been affected by the huge fluctuations in retail that have reduced rental income. Simultaneously, companies may minimize office floor space to cut rental costs. In 2020, the United States construction expenses in the first two months increased 8% from the same period in 2019, stimulated by a 13% jump in single-family construction, an 11% growth in the public buildings, and the lowest 1% rise in private buildings. 

In addition to the extreme impact on people's health and healthcare services, COVID-19 has significant implications on businesses and has triggered unprecedented macroeconomic shock during peacetime. To tackle the crisis, governments worldwide have continuously worked on effective clinical management to flatten the spread of COVID-19, swiftly wide healthcare facilities, and acquire masks and equipment to treat patients infected with the disease. The influence of the COVID-19 pandemic on the polyurethane industry has already been profound.

The global Polyurethane market segmentation is based on Product Type and End-use. The End-User segment is further fragmented as Furniture & Upholstery, Construction, Electronics, Automotive, Footwear, and Others. PU foam acquires more than 50% of the market share by product type owing to its low density and thermal conductivity mixed with the interesting mechanical characteristics that make them an excellent thermal & sound insulator and structural and comfort material. 

In 2019, more than 50% of the world's people live in urban areas, and the urban population is about to reach 2.5 billion by 2050. These trends are mostly observed in African and Asian countries. According to the US, as of 2020, 33 megacities require planned habitation for the rapidly growing urban population rate of 1.84%. When insulating a building, polyurethanes can save over 70 times more energy during their lifecycle than needed during manufacture.

Asia Pacific region reported for the construction market in 2019 due to the development of construction in the area, accompanied by increasing spending in the industrial sector and infrastructural developments and urbanization. In some countries, like France, Belgium, and the US, polyurethane has been used regularly for many years in the construction sector. It also consists of polyurethane in thermal insulation systems for the home. The number of European markets utilizing polyurethane commercially is increasing, given the stringent European Union energy efficiency standards demanded by buildings. As well as the drive for compliance, project owners also focus on cost proficiency, with polyurethane-based thermal insulation solutions providing significantly reduced construction and maintenance costs and their simplicity of handling and shipping.

Based on geography, the Polyurethane market is fragmented into Asia Pacific, North America, South America, Europe, and Middle East & Africa. The Asia Pacific will hold the biggest market share due to rapid urbanization and growth in construction industries in expanding economies like India and China. 

The Indian economy broadened by 3.1% in the first quarter of 2020 and is projected to contract 6% in 2020-21. The lockdown applied by the govt. in the 2nd quarter of the year, 2020 decelerates the country's economic activities, which are predicted to return to the pre-coronavirus level in the third quarter. The Indian furniture market was valued at more than USD 32 billion in 2018 and is awaited to grow at around 13% over the near future. About 85% of the furniture industry is unorganized in the country, mainly focusing on hand-made furniture, making it grossly underdeveloped. Domestic demand for furniture in India is surging due to the modernization of the industry with technology and machines. According to the United Nations, India's urban population will surge from 377 million in 2011 to 594 million in 2036, showing a rise of about 57%. The country's growing urban population will likely contribute to the development of infrastructure and buildings. The construction sector in India is set to contract by 7.5% in 2020, owing to the effects of the Covid-19 crisis coupled with weakness from 2019. The residential market struggled due to rising unemployment, a liquidity crunch in the non-bank financial sector, and a reduction in new residential projects launched across major cities. The situation is anticipated to improve in the forecasted period due to government initiatives such as enhancing liquidity and expanding infrastructure investments under the National Infrastructure Program. 

The govt. 'Housing for All' initiative aims to build 20 million affordable homes for the urban poor by 2022. Furthermore, The Ministry of Power has announced the ECO Niwas Samhita 2018, the Energy Conservation Building Code for residential buildings. Implementing this code is expected to boost energy efficiency in the residential sector, its occupants, and the broader environment by promoting energy efficiency in the design and construction of apartments, homes, and townships. India's electronics industry has grown to become one of the largest consumer electronics markets in the Asia Pacific region due to India's middle-class population, increasing disposable income among its citizens, and dropping prices for electronics. Additionally, government initiatives such as the Scheme for Promotion of Manufacturing of Components and Semiconductors (SPECS) are meant to promote component manufacturing in India. This should reduce imports of electronic components, which the industry currently undertakes to assemble products here. Similarly, the Electronics Manufacturing Cluster Scheme (EMC 2.0) project adds to a scheme the government already had, and it will likely provide land for large manufacturing clusters and other infrastructure needed. Lastly, the Electronics Manufacturing Cluster Scheme project adds to the government's scheme. It already had and will provide land for large manufacturing clusters and other infrastructure requirements.

The market was found to be consolidated. Some key players in the global market are BASF SE, Wanhua Industrial Group, Huntsman Corp., and Covestro AG, among others.

In January 2020, FoamPartner helped Rinspeed drive autonomous e-mobility with superior sound and thermal management solutions. The micro snap concept car developed by Rinspeed illustrates the potential of innovative foam technology for automotive interiors and acoustic and thermal insulation. The MetroSnap features a 'Skateboard' chassis & quick-change superstructures or 'Pods' for passenger and cargo transportation. It uses composite, steel and 3D printed components, advanced navigation and safety equipment, lidar sensors and a drive-by-wire system. The interior design takes benefit of state-of-the-art materials engineering and consists of lightweight insulation foam technology from FoamPartner. 

Our Global Polyurethane market report provides deep insight into the current and future state of the Polyurethane market across various regions. Also, the study comprehensively analyzes the Polyurethane market by segments based on Product Type (Foams, Coatings, Adhesives & Sealants, Elastomers, and Others) and By End-Use (Furniture & Upholstery, Construction, Electronics, Automotive, Footwear, and Others), and by Geography (Asia Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 influencing the market growth, in detail. The study covers & includes emerging market trends, market developments, market opportunities, polyurethane market size, polyurethane market analysis, market dynamics, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market share and projects.