Global Polyurethane Composites Market By Fiber Type (Glass Fiber Polyurethane Composites, Carbon Fiber Polyurethane Composites), Manufacturing Process (Lay-Up, Pultrusion, Resin Transfer Molding, Injection Molding, Filament Winding, Compression Molding), End-Use Industry (Transportation, Building & Construction, Electrical & Electronics, Wind Power Energy, Petrochemical, Sports & Leisure, Aerospace & Defence, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Polyurethane Composites Market
Global polyurethane composites market is expected to rise to an estimated value of USD 1,189.90 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the increasing usage of polyurethane composite-based products in the wind power energy industry and rising adoption of polyurethane composites in the manufacturing of fuel efficient vehicles.
Market Definition: Global Polyurethane Composites Market
Polyurethane composites are grouped by two variables which are length of the fiber reinforcement and density of the polymeric matrix. These two variables determine complexity and type of manufacturing technology. The innovation of polyurethane composite platform started with the development of suitable formulations, in which chopped fibres where used for fabrication processes. Polyurethane composites have its wide application in aerospace & defense, sports & leisure, petrochemical, wind power energy, electrical & electronics, building & construction and transportation.
- Acceptance of polyurethane composites in the development of lightweight automotive components, due to its superior mechanical and physical property will act as a driver for the market
- Heavy investments across various industries, such as wind power energy, electrical and electronics, building and construction, automotive; this factor will also drive the market in the forecast period
- Increased adoption in the manufacturing of fuel efficient vehicles will propel the growth of market
- Increased usage in wind power energy industry
- High processing and manufacturing cost of polyurethane composites; this factor will act as a restrain for the market
- Recyclability issues of polyurethane composites will also restrain the growth of market
- Slow economic recovery of North America and European countries
Global Polyurethane Composites Market Segmentation:
By Fiber Type
- Glass Fiber Polyurethane Composites
- Carbon Fiber Polyurethane Composites
By Manufacturing Process
- Lay-Up, Pultrusion
- Resin Transfer Molding
- Injection Molding
- Filament Winding
- Compression Molding
By End-Use Industry
- Building & Construction
- Indoor Application
- Outdoor Application
- Electrical & Electronics
- Electronics Components
- Wind Power Energy
- Sports & Leisure
- Aerospace & Defence
- Consumer Durables
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In July 2019, Teijin Limited acquired Benet Automotive s.r.o., who is a leading component and composite supplier, based in Czech Republic. The acquisition will help Teijin to leverage Benet's evolving chemistry of innovations and development projects, so that the demands of customers for cost-effective, tough and light weighted products can be fulfilled.
- In May 2017, Huntsman Corporation has acquired IFS Chemicals Limited, who is a renowned formulators of methylene diphenyl diisocyanates (MDI), based in U.K. The MDI system, made by the company, is used in different end markets that include elastomeric, automotive, appliances and insulation applications. Such acquisitions will help the company to grow more in this market.
Global polyurethane composites market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polyurethane composites market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the polyurethane composites market are BASF SE, Bayer AG, Huntsman International LLC, The Dow Chemical Company, TORAY INDUSTRIES, INC., Hexcel Corporation, SEKISUI CHEMICAL CO., LTD., SGL Group, Owens Corning, Wanhua Chemical Group, and others..
Research Methodology: Global Polyurethane Composites Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved