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(MoneyNewsWire.Net, May 30, 2018 ) The global polyurethane additives market is projected to reach USD 2.75 Billion by 2021 at a CAGR of 6.3% from 2016 to 2021. The market has witnessed significant growth in the recent years, and this growth is projected to persist in the coming years. The growth of the polyurethane additives market is expected to be fueled by increasing use of polyurethane in various end-use industries such as automotive, building & construction, and other consumer products.
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Different types of polyurethane additives are included in the report. The main types are catalyst, surfactant, filler, and others. Polyurethane additives are used in various end-use industries such as automotive & transportation, building & construction, bedding & furniture, and others. The building & construction industry is expected to drive the polyurethanes additive market, due to the increasing demand for polyurethane for insulation. Polyurethane additives are used mainly in flexible foam, rigid foam, coatings, adhesives & sealants, elastomers, and binders. Flexible foams are primarily used in bedding & furniture, and automotive & transportation industries.
North America, Europe, Asia-Pacific, Middle East & Africa, and South America are considered the main regions in the polyurethane additives market report. Asia-Pacific region is dominant in the polyurethane additive market. The rising demand for polyurethane additives in this region is mainly driven by its increased use in building & construction industries. Europe is the second-largest consumer of polyurethane additives, globally. The market in this region is mainly driven by the growing opportunities from transportation and construction industries. The Middle East & Africa is the second fastest-growing market, due to the increased demand for rigid foam for insulation purposes in the region.
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However, few factors such as volatility in raw material prices, increased pressure from regulatory bodies, and rising cost of production hinder the growth of the market, globally.
Covestro AG (Germany), BASF SE (Germany), The Dow Chemical Company (U.S.), and Huntsman International LLC (U.S.) are the leading companies operating in this market. These companies are expected to account for a significant market share in the near future. Entering into related industries and targeting new markets will enable polyurethane additive manufacturers to overcome the effects of the volatile economy, leading to the diversified business portfolio and increase revenue. The other main manufacturers of polyurethane additives are Tosoh Corporation (Japan), Albemarle Corporation (U.S.), Eastman Chemical Company (U.S.), Kao Corporation(Japan) ), Evonik Industries AG (Germany), Air Products and Chemicals, Inc. (U.S.), and Momentive Performance Materials Inc. (U.S.).
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