Southeast Asia Polyurethane Market To Hit USD 4.98

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Pune, India, Sept. 28, 2022 (GLOBE NEWSWIRE) — The Southeast Asia Polyurethane Market the size was $3.32 billion in 2021. The market is expected to grow from $3.46 billion in 2022 at $4.98 billion by 2029, posting a CAGR of 5.3% during the forecast period.

This information is provided by Fortune Business Insightsin its report entitled “Southeast Asia Polyurethane Market, 2022-2029.”

Report cover:

The report offers a holistic study of the market along with current trends and future anticipations to establish immediate investment gains. A thorough analysis of all upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, an in-depth regional analysis is offered.

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Report Scope and Segmentation:

Report cover Details
Forecast period 2022-2029
Forecast CAGR 5.3%
2029 value projection $4.98 billion
base year 2021
Southeast Asia polyurethane market size in 2021 $3.32 billion
Historical data 2018-2020
Number of pages 155
Segments Covered By type, end user and regional information
Southeast Asia Polyurethane Industry Growth Drivers Growing demand for furniture industry foams at Augur Growth
Dow Announces Product Expansion of VORASURF Silicone Surfactants to Drive Growth

Competitive Landscape:

Important business-related announcements by key players to influence market dynamics

Market fundamental companies often make crucial announcements regarding certain trade moves, which in turn affect the market positively or negatively. Players acquire businesses, launch new products, engage in partnership agreements, sign contracts with government organizations, and more.

List of key players mentioned in the report:

  • BASF SE (Germany)
  • DOW Chemical Company (USA)
  • Huntsman Corporation (USA)
  • LANXESS (Germany)
  • Covestro AG (Germany)
  • FloorChem Asia Co., Ltd. (Thailand)
  • Rogers Corporation (USA)
  • Tosoh Corporation (Japan)
  • INOAC Corporation (Japan)
  • Polyurethane manufacturing in Asia (Singapore)

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segments:

Flexible foam to maintain tip type due to increasing implementation of furniture application

Based on type, the market is segmented into rigid foam, flexible foam, molded foam, elastomers, adhesives & sealants, coatings and others. The flexible foam segment held the largest market share in 2021.

Furniture Segment to Generate Highest Revenue Due to Expansion of Commercial and Residential Buildings

Based on application, the market is categorized into furniture, construction, electronics, automotive and transportation, packaging, footwear, and others. The furniture segment accounted for the largest market share in 2021.

Drivers and Restrictions:

The growing demand for foams from the furniture industry to increase product demand

PU is mainly used as a foam for making furniture, upholstery and bedding. The flexible property of the material, its robustness and its ability to provide comfort make it suitable for use in the furniture sector. However, the rapid demand for furniture is increasing in Southeast Asia due to people’s fluctuating lifestyle and increasing population. This is expected to fuel the growth of the Southeast Asia polyurethane market in the region.

Additionally, the growing demand for chairs and sofas from the commercial sector is expected to support the demand for furniture in the construction industry.

Regional outlook:

Thailand in the lead thanks to the growing use of the product in the automotive industry

Thailand held the largest polyurethane market share in Southeast Asia and stood at USD 1.17 billion in 2021. The market is expected to maintain its position as the largest manufacturer throughout the forecast period. This increases the use of the products in the production of automotive and electronic items. Moreover, the growing home furnishing industry further strengthens the implementation of flexible PU foams.

On the contrary, growing demand from electronics and manufacturing industries is expected to boost market revenue in Malaysia. Moreover, the rapid industrialization of this country is promoting the expansion of factories, thus fueling the use of the products in industrial flooring.

Automotive is the pioneering and leading manufacturing industry which is rapidly developing in Indonesia. The use of the product in this industry can be mainly seen as material for bearings, shock absorbers, bushings, jigs, hangers, flexible couplings and bushings.

Browse Detailed Abstract of Research Report with TOC:

https://www.fortunebusinessinsights.com/southeast-asia-polyurethane-market-106830

Impacts of COVID-19:

The pandemic has significantly affected polyurethane (PU) consumption due to mobility constraint

Since the appearance of the new coronavirus at the end of 2019, several countries have imposed limitations on the distribution and transport of materials, influencing the value chain of component producers. First, various manufacturers have experienced supply shortages, at least for the first half of 2020, due to trade restrictions in major industrial countries such as Thailand and Indonesia. As a result of this concern, the production skills of enterprises have been hampered and the demand for PU products reduced.

Contents:

  • Introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Main emerging trends – for main countries
    • Key developments: capacity extensions, acquisitions, partnerships, etc.
    • Latest technological advancement
    • Overview of the regulatory scenario
    • Analysis of the five forces of carriers
  • Qualitative Insights on the Impact of COVID-19 on the Polyurethane Industry in Southeast Asia
    • Supply chain analysis and challenges due to Covid-19
    • Measures taken by government/companies to overcome this impact
    • Potential Challenges and Opportunities Due to the COVID-19 Outbreak
  • Southeast Asia Polyurethane Industry Analysis, Outlook and Forecast, 2018-2029
    • Main results/summary
    • By product type (value and volume)
      • Rigid foam
      • Soft foam
      • molded foam
      • Elastomers
      • Adhesives and sealants
      • Coatings
      • Others
    • By application (value and volume)
      • Furniture
      • Construction
      • Electronic
      • Automotive and transportation
      • Packaging
      • Shoe
      • Others

TOC Continued…!

Industry key development:

March 2022: Dow announced a new expansion of VORASURF silicone surfactant products to meet the growing demand for refined energy skills and endurable solutions in the PU foam market, with a particular focus on spray and construction applications.

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