[ad_1]
Burgeoning Construction Activities to Boost Polyurethane Sales at 8.2% CAGR by 2032
The latest study published by Fact.MR provide detailed insights into the global polyurethane market during the assessment period 2022-2032. This study uncovers key dynamics such as driven, restraints, and opportunities across 6 verticals. It also provide a sales forecast in market in term of product type and application for the coming decade.
NEW YORK, July 20, 2022 /PRNewswire/ — The global polyurethane market is expected to total US$ 83.1 Bn by 2022, projecting growth at a robust CAGR of 7% during the forecast period 2022-2032.
Driven by the growing application across packaging, footwear, and furniture & interiors sectors, the demand for polyurethane is expected to exceed US$ 162 Bn by the end of 2032as compared to the US$ 79.2 Bn registered in 2021.
Due to the rising disposable income of the global population and advent of advanced automotive vehicles, there is a substantial rise in sales of automobiles worldwide. For instance, according to a study by the International Energy Agency, approximately 88 million passenger cars were reported to be sold across the world in 2019.
Polyurethane is widely used in the manufacturing of seats, armrests, upholstery, and others in automotive vehicles. This is anticipated to augment the demand by 2X in the global polyurethane market over the forecast period.
For Critical Insights on this Market, Get A Sample Report!
https://www.factmr.com/connectus/sample?flag=S&rep_id=7359
With growing inclination towards sustainable infrastructure development, a swift rise in construction activities is being witnessed, especially across emerging economies such as China, India, Brazil, Australiaand others.
Hence, adoption of polyurethane foam, on account of its strength-to-weight ratio, insulation properties, versatility, and durability is surging in construction sector. This is another factor projected to bolster the sales of polyurethane in the global market.
Key Takeaways:
- The US is anticipated to continue dominating the market in North Americaprojecting growth at a CAGR of 7.4% during the forecast period.
- Germany is expected to emerge as a highly remunerative market, owing to the increasing production and sales of automotive vehicles.
- Sales of polyurethane are forecast to rise at a rapid pace in Chinaassisting the East Asia market to expand at a CAGR of 7.1% through 2032.
- India is estimated to account for a significant share in the South Asia & Oceania market, driven by the increasing construction activities in the country.
- Based on product type, the rigid foam is projected …
Full story available on Benzinga.com
[ad_2]
Source link
