Polyurethane Composites Market: Overview

  • Demand for lightweight materials in industries such as aerospace, wind power energy, sports & leisure, petrochemicals, electrical & electronics and building & construction has been increasing since the last few years
  • Polyurethanes are versatile materials, which can be formed into rigid and flexible foams, and elastomers. Adhesives are now widely used as engineering materials in many industries.
  • Polyurethanes composites play a major role in lightweight materials. These composites are made up of paper honeycombs that are covered by a combination of polyurethane and reinforcing fibers.
  • These composites are ideal for body shell parts, which are more than two meters in size, as these possess greater stability
  • Polyurethane composites are lightweight and possess good acoustic & heat-insulating properties and excellent 3-D moldability

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Key Drivers of Polyurethane Composites Market

  • Polyurethane composites possess certain characteristics such as resistance to heat, lightness of weight, stability, durability, and flexibility. This is driving their demand in end-use applications such as transportation and building & construction.
  • Increased Consumption of waste products developed from polyurethane composites that are used for recycling purposes and are used as flakes, pallets and powders. This, in turn, is projected to drive the global polyurethane composites market during the forecast period.

Glass Fiber Segment to Expand Rapidly

  • The glass fiber segment accounted for major share of the polyurethane composites market in 2018. It is expected to dominate the market during the forecast period.
  • Glass fiber possesses properties such as superior strength, lightness of weight, durability, and flexibility. This makes it better choice in polyurethane composites.

Lay-up to be Major Segment

  • Polyurethane composites can be manufactured using processes such as compression molding, filament winding, injection molding, resin transfer molding, pultrusion, and lay-up
  • Lay-up segment is expected to expand at a rapid pace during the forecast period. Growth of the lay-up segment can be ascribed to its easy manufacturing process and lower cost than other manufacturing processes.

Transportation Segment to Expand Significantly

  • Transportation accounted for major share of the global polyurethane composites market in 2018. It is expected to be the fastest growing segment of the global polyurethane composites market during the forecast period.
  • Polyurethane composites possess characteristics such as lightness of weight and superior mechanical & physical properties. Therefore, demand for polyurethane composites in the automotive industry has been increasing in order to reduce the weight of vehicles and increasing their efficiency. This is estimated to drive the transportation segment during the forecast period.

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North America to Hold Major Share

  • Geographically, the global polyurethane composites market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The polyurethane composites market in North America is anticipated to expand at a rapid pace during the forecast period
  • Increase in use of polyurethane composites in the aerospace industry in North America is expected to propel the market in the region
  • Growth in the automotive industry in Europe is fueling the demand for polyurethane composites market. The polyurethane composites market in the region is estimated to expand at a considerable pace during the forecast period. 
  • Manufacturing, automotive, building & construction, and transportation industries are projected to expand at a rapid pace in countries such as India and China in Asia Pacific in the near future due to the growth in population, rise in per capita income, and changing lifestyle. This, in turn, is estimated to drive the polyurethane composites market in Asia Pacific during the forecast period.

Key Players in Market:

Prominent players operating in the polyurethane composites market include

  • BASF SE
  • Hexcel Corporation
  • SGL Carbon
  • Bayer AG
  • Toray Industries, Inc.
  • DOW
  • Wanhua Chemical Group Co., Ltd.
  • Owens Corning
  • Sekisui Chemical Co., Ltd.
  • Huntsman Corporation

Global Polyurethane Composites Market: Research Scope

Global Polyurethane Composites Market, by Product Type

  • Carbon Fiber
  • Glass Fiber

Global Polyurethane Composites Market, by Manufacturing Process

  • Compression Molding
  • Filament Winding
  • Injection Molding
  • Resin Transfer Molding
  • Pultrusion

Lay-up Global Polyurethane Composites Market, by End-use

  • Aerospace & Defense
  • Wind Power Energy
  • Sports & Leisure
  • Petrochemicals
  • Electrical & Electronics
  • Building & Construction
  • Transportation

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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