Within our Speciality Chemical Market Research reports we focus majorly on the emerging trends in global polyurethane and polyolefin market which are among the rapid growing markets in the Speciality Chemicals space. There are many key growth drivers for this segment. The recovering economy and booming housing segment are some of the major growth drivers of demand for Polyurethane. The growth in the economy has also increased the purchasing power of the people as a result demand for houses and buildings is gaining steam. This increases the demand for Polyurethane in furniture, bedding and automotive applications. This is likely to help Speciality chemicals market to see good growth in the near and the long term.
Moving ahead, if this continues at this pace, the global Polyurethane market is expected to value $54.2 billion by 2019. Further in our Speciality Chemicals Market Research report we also focus key geographies that are playing a major role in the league. In the Asian Pacific region China is the largest market for Polyurethane. Further with the supportive legal reforms, China is rapidly increasing its Polyurethane consumption which will surely ramp up demand for Polyurethane globally. While in North America the problem of CO2 emission and growing automotive and electronic is also likely to push demand bio-based Polyurethane.
Since, Polyurethane is a catchy market now; it has attracted more players in the space to have a bigger piece of the pie. This might slow down its growth for sometime as many companies are trying to catch a place in this space in order to be competitive in the market.