Coherent Market Insights

Polyurethane Prepolymer Market To Reach US$ 807.3 Mn By 2030

Polyurethane Prepolymer Market To Reach US$ 807.3 Mn By 2030 - Coherent Market Insights

Publish On: Apr 06, 2023

The global Polyurethane Prepolymer Market was valued at US$ 491.5 Mn in 2022, according to Polyurethane Prepolymer Market Report, by Product Type (MDI-Based, TDI-Based, and Others), by Application (Coatings, Adhesives & Binders, Sealants, and Elastomers), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.

The global polyurethane prepolymer market is projected to reach US$ 807.3 Mn by 2030, exhibiting a CAGR of 6.40% during the forecast period (2023-2030). The market is expected to witness significant growth over the forecast period, attributed to increasing demand from end-user applications worldwide. Furthermore, the advantages offered by the prepolymer process of polyurethane synthesis are expected to drive market demand in the near future. Polyurethane is conventionally synthesized by a one-step process, wherein raw materials such as isocyanates and polyols are added along with other additives in one single system, and polyurethane is produced. However, polyurethane production by two-step prepolymer technology has proved to be more beneficial than a one-step process, which in turn is increasing demand for PU prepolymers. In the two-step process, a prepolymer of polyurethane is first synthesized, and then in the second step, the final polyurethane polymer is produced where prepolymers are used as raw material. Prepolymer synthesis offers various advantages to the final product. For instance, as per the research article, ‘Tailoring properties of polymeric biomedical foams’ published by the journal ‘Biomedical Foams for Tissue Engineering Applications’ in 2020 the two-step prepolymerization process offers various advantages including increased PU viscosity (which favors better mixing of foam components), lower vapor hazard due to higher molecular weight, and reduction of undesired side reactions

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/polyurethane-prepolymer-market-3023

Browse 48 market data tables* and 33 figures* on "Global Polyurethane Prepolymer Market” - Global forecast to 2030.

 Key Takeaways of the Market:

  • On the basis of application, the adhesives & binders segment contributed over 61.30% of the revenue share in the global polyurethane prepolymer market in 2022. Polyurethane prepolymer is used in the formulation of adhesives. These adhesives offer high hardness, high tensile strength, and excellent adhesive strength. Polyurethane prepolymer adhesives can be used in moisture-cure systems and mainly finds applications in infrastructure activities such as roadway construction.
  • Asia Pacific accounted for the revenue share of over 51.30% in the global polyurethane prepolymer market in 2022 and is projected to maintain its dominance over the forecast period. The growth of end-use industries of PU prepolymers such as coatings, adhesives, and sealants is also expected to propel the demand for PU prepolymers in the region. For instance, according to the report, ‘Facts & Figures 2014’, published by Association of the European Adhesive & Sealant Industry in 2020, the global market for adhesives and sealants reached a value of US$ 42.77 billion in 2014, with Asia Pacific accounting for the second largest share of 33.4%, with value of US$ 14297.85 million in 2014.
  • Moreover, according to the report, ‘Plastics – the Facts 2017’ published by Plastics Europe, Association of plastic manufacturers) in 2018, the global plastic materials production (combined production of thermoplastics and polyurethanes) was 280 million tons in 2016, of which the largest share of 50% was accounted by Asia Pacific, whereas 29% share was accounted by China alone. This scenario is expected to drive revenues for the global polyurethane prepolymer market over the forecast period.
  • Major players operating in the global polyurethane prepolymer market are Covestro AG, DowDupont Inc., Huntsman Corporation, LANXESS AG, Isothane Ltd., Mitsui Chemicals Inc., Tosoh Corporation, and SAPICI S.p.A.

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