Europe polyurethane
(PU) market is expected to reach USD 26.24 billion by 2024, according
to a new report by Grand View Research, Inc. Growing need for sustainable
construction in the region is a key driving factor for industry growth.
The industry is primarily driven by growth in end-use
industries such as construction, automotive & transportation and furniture
& bedding. Reinforcement of construction industry in the European region is
anticipated to be the key driving factor over the forecast period. Eastern
European countries such as Hungary, Poland and Slovakia are anticipated to
witness significant growth regarding construction spending which in turn is
expected to drive rigid polyurethane foam demand.
Rigid foam was the highest consumed product and accounted
for over 30% of the European market volume in 2015. EU regulations towards
energy efficiency of households and financial incentives aimed at improving
insulation and cutting down on energy costs is expected to drive the product’s
growth. It is also expected to witness the highest growth of 4.0% over the
forecast period.
Browse full research report on Europe Polyurethane Market: http://www.grandviewresearch.com/industry-analysis/europe-polyurethane-pu-market
Further key findings from the report suggest:
- Europe polyurethane market size was 4.91 million tons
in 2015 and is expected to reach 6.90 million tons by 2024, growing at a
CAGR of 3.8% from 2016 to 2024.
- Construction was the largest consumer of
polyurethanes and accounted for over 35% of the overall volume in 2015.
Electronics & appliances is expected to witness the highest growth of
5.3% over the forecast period.
- Germany was the leading consumer with demand share
estimated at 17.4% in 2015. Being a major automotive manufacturing hub and
exporter of passenger cars, rigid foams were the dominant product consumed
in the country. The product accounted for nearly 30% of Germany’s PU
consumption in 2015.
- Russia is expected to witness the highest growth of
4.3% over the forecast period. High construction output and growth of
automotive industry is expected to drive the regional market.
- Key players operating in Europe PU market include
BASF, The Dow Chemical Company, Bayer Material Science, Huntsman
Corporation, Nippon Polyurethane Corporation Ltd., Foamex International
and Evonik Industries.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the Europe polyurethane
(PU) market on the basis of product, end-use and region:
Europe Polyurethane (PU) Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2010 - 2024)
- Rigid
Polyurethane Foam
- Flexible
Polyurethane Foam
- Polyurethane
Coatings
- Adhesives
& Sealants
- Polyurethane
Elastomers
- Sprayed
Polyurethane Elastomers
- Cast
Polyurethane Elastomers
- Others
- Others
Europe Polyurethane (PU) End-Use Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2010 - 2024)
- Furniture
& Bedding
- Construction
- Electronics
& Appliances
- Automotive
- Footwear
- Packaging
- Others
Europe Polyurethane (PU) Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2010 - 2024)
- Germany
- UK
- France
- Italy
- Spain
- Belgium
- Russia
- The
Netherlands
- Rest
of Europe
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/europe-polyurethane-pu-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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Rigid polyurethane foam