The global market volume of polyurethane amounted to nearly 25.78 million metric tons in 2022. It is forecast that the global market volume of polyurethane will grow to 31.27 million tons in the year 2030.

Global Polyurethane Market to hit USD 198.8B by 2029 growing at 13.3% CAGR. Explore trends, drivers, and competition for strategic insights with The Business Research Company.

The Report Covers Expanded Thermoplastic Polyurethane Market Growth and it is Segmented by Application (Extruded Products, Injection Molded Products, Adhesives, and Other Applications), End-user Industry (Construction, Automotive, Footwear, Medical, Electrical and Electronics, Heavy Engineering, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market size and forecasts for all the above segments are Provided in revenue (USD million).

Polyol and Polyurethane Market size was valued at USD 29.42 Billion in 2024 and is projected to reach USD 42.48 Billion by 2031, growing at a CAGR of 4.7% from 2024 to 2031.

Global Polyol And Polyurethane Market Drivers

Construction Industry: In the construction industry, polyols and polyurethanes are extensively utilized for structural materials, sealants, roofing, insulation, and adhesives. The need for polyols and polyurethanes is driven by the expansion of the construction sector, especially in emerging economies and infrastructure development projects.

Vehicle Industry: Polyurethane materials find widespread usage in vehicle applications, including insulation, bumpers, interior trim, and seat cushions. The need for polyols and polyurethanes is increased by the expansion of the automotive sector, which is fueled by factors such rising vehicle production, lightweighting trends, and consumer desire for fuel-efficient cars.

Furniture and Bedding: Because polyurethane foam is comfortable, long-lasting, and reasonably priced, it is frequently utilized in furniture and bedding applications. The need for polyols and polyurethanes is fueled by the expansion of the furniture and bedding industries, which is in turn driven by factors like urbanization, changing consumer lifestyles, and increased disposable income.

Insulation and Refrigeration: Buildings, cold storage facilities, freezers, and refrigerators all use polyurethane foams as thermal insulation. The need for polyols and polyurethanes is driven by the growing refrigeration sector, legislation requiring the use of insulating materials with improved thermal performance, and a rising focus on energy efficiency.

Flexible Packaging: Because polyurethane materials are resilient, moisture-resistant, and have barrier qualities, they are used in flexible packaging applications. The need for flexible packaging solutions is increasing because to the increased demand for packaged food, drinks, pharmaceuticals, and consumer goods. This is driving up the need for polyols and polyurethanes.

According to Cognitive Market Research, the global Polyurethane market size is USD 81.0 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031. Market Dynamics of Polyurethane Market Key Drivers for Polyurethane Market Increasing Furniture Foam Demand - The product is primarily employed as a foam in the furniture industry for cushioning and bedding applications. It is the optimal material for the furniture industry because of its durability, flexibility, and ability to offer comfort. The demand for furniture is expanding at a rapid pace worldwide as a result of the evolving lifestyles of individuals and the growing global population. This is expected to stimulate global market expansion. There is a significant demand for the housing sector in the global construction industry. The demand for furniture is being further stimulated. The demand for furniture in the construction industry is anticipated to be supported by the rising business demand for chairs and couches. These factors will serve as catalysts for market expansion. Flexibility and unique polyurethane qualities are anticipated to drive the Polyurethane market's expansion in the years ahead. Key Restraints for Polyurethane Market Environmental concerns and exposure hazards may poses a serious threat to the Polyurethane industry. The market also faces significant difficulties related to growing demand for acid-epoxy compounds. Introduction of the Polyurethane Market The polymer polyurethane (PU or PUR) is composed of polyols and isocyanate linkages that are sequenced in an alternative manner. This substance is produced through the reaction between isocyanate and polyols. There are two versions of it: thermoplastic polymer and thermosetting polymer. Gaskets, elastomers, high-performance adhesives, synthetic fibers, and surface coatings are among the items for which it is frequently employed. It is also anticipated that the market will be positively impacted by the growing adoption of sophisticated production technologies with innovative features. As an illustration, the creation of semi-interpenetrating polymer networks (IPN) through the combination of TPU and PU acrylate oligomers and their subsequent radiation curing. The polymer's extensive array of applications, such as footwear, biomedical, packaging, and transportation, is the primary factor contributing to the market's growth. Bio-based polyurethane coatings have been widely employed in place of petrochemical-based coatings due to their biodegradability, affordability, and reduced environmental impact.

The polyurethane market size is predicted to rise from $85.2 billion in 2024 to $136.2 billion by 2035, growing at a CAGR of 4.35% from 2024 to 2035.

The market value of polyurethane amounted to roughly 67.13 billion U.S. dollars in 2022. It is forecast that the global polyurethane market will be worth some 93.48 billion U.S. dollars in the year 2030.

Global Polyurethane (PU) Market size & share value expected to touch USD 118.46 Billion by 2032, to grow at a CAGR of 5.4% during the forecast period.

The report covers North America Polyurethane Market Trends and is segmented by Application (Foams, Coatings, Adhesives, Sealants, and Binders, Elastomers, and Other Applications), End-user Industry (Furniture & Interiors, Building & Construction, Electronics & Appliances, Automotive & Transportation, Packaging, and Other End-user Industries), and Geography (United States, Canada, Mexico, and Rest of North America).

The North America Polyurethane Market size was valued at USD 17.01 Billion in 2022 and is expected to surpass USD 26.39 Billion by 2031, expanding at a CAGR of 5% during the forecast period, 2023 – 2031. The growth of market is attributed to growing use of durable plastics in construction sector.

Polyurethane works effectively in building materials which considerably generate higher demand for insulating material to regulate ventilation, heating, and air conditioning (HVAC) and combats and secure the energy that previously gets lost due to inefficient insulation.

Growing demand for the product from sectors such as packaging, automotive, and construction in the U.S. is estimated to drive the market during the projected period. Parts of North America especially United States observed an expansion in construction segment due to positive market fundamentals for real estate accompanied by increasing investments from state and federal for the development of institutional buildings and public works.



For refurbishing and development of roads, hospital buildings, and other infrastructure U.S government has announced USD 2 trillion of investment in March 2020, which is anticipated to stimulate the market within the country. However, growing environmental concern and stringent regulation against emission of carbon is expected to restrain the market growth during the forecast period.



Many developed economies such as the UK, Germany, Canada, and US have started following the regulation and have reduced the carbon emission.



Furthermore, with COVID-19 outbreak the production all around the globe has halted their manufacturing activities, thus impacting the whole market and activities associated with the sector.

Market Trends, Drivers, Restraints, and Opportunities

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  Increasing usage of durable plastic in construction activities is expected to drive the market during the forecast period.

  
  


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The Report Covers the Global Polyurethane Dispersion Market by Type and is Segmented by Application (Foams, Coatings, Adhesives and Sealants, and Other Applications), End-user Industry (Transportation, Footwear and Textile, Construction, Packaging, Furniture, and Bedding, Electronics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The market size and forecasts are provided in terms of volume (kilotons) for all the above segments.

Global Polyurethane Market reached US$ 82.2 billion in 2023 and is expected to reach US$ 117.5 million by 2031

The asia pacific polyurethane market is expected to generate USD 59.45 billion by 2032 and exhibit a CAGR of 5.6% during the forecast period.

The size and share of the market is categorized based on Application (Automotive, Construction, Other) and Product (Polyurethane Foam, Polyurethane Elastomer, Other) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Non-Ionic Aqueous Polyurethane Market size was valued at USD 12 Billion in 2024 and is projected to reach USD 21.8 Billion by 2031, registering a CAGR of 8.73% from 2024 to 2031.

Global Non-Ionic Aqueous Polyurethane Market Drivers

Stringent Environmental Regulations: Government regulations, particularly in developed regions like North America and Europe, are enforcing limits on VOC emissions in industrial applications. This regulatory pressure has pushed manufacturers and end-users to adopt waterborne technologies like non-ionic aqueous polyurethane as alternatives to solvent-based products, spurring market growth.

Growing Automotive Industry: The automotive sector is a significant consumer of coatings, adhesives, and sealants. Non-ionic aqueous polyurethanes are widely used due to their excellent properties, including flexibility, chemical resistance, and durability. With the automotive industry prioritizing lightweight materials and sustainable manufacturing processes, the adoption of these polyurethanes is rising.

The Middle East and Africa Polyurethane Market is Segmented by Application (Foams, Coatings, Adhesives and Sealants, Elastomers, and Other Applications), End-User Industry (Furniture and Interiors, Building and Construction, Electronics and Appliances, Automotive, Footwear, Packaging, and Other End-User Industries), and Geography (Saudi Arabia, United Arab Emirates, South Africa, Egypt, Kuwait, Qatar, Morocco, and Rest of Middle-East and Africa). The Market Size and Forecasts for The Middle East and Africa Polyurethane Market are provided in terms of Revenue (USD billion) for all the above segments.

Discover the projected growth of the global polyurethanes market in primary forms over the next six years, with an expected increase in market volume and value by 2030.

The global polyurethanes market expanded markedly to $30B in 2024, rising by 7.2% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $32B. From 2023 to 2024, the growth of the global market remained at a lower figure.

India polyurethane foam market size reached USD 4.0 Billion in ​2024​. Looking forward, IMARC Group expects the market to reach USD 7.1 Billion by ​2033​, exhibiting a growth rate (CAGR) of 6.1% during 2025-2033. The increasing demand for flexible polyurethane foam in applications such as furniture, bedding, and automotive seating that can be influenced by consumer trends, fashion, and design preferences, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on structure, product type, density, and end use industry.

The North American polyurethane market is projected to reach a value of $21.50 billion by 2033, exhibiting a CAGR of 3.9% during the forecast period (2025-2033). The market is primarily driven by the increasing demand for polyurethane in various end-use industries, including construction, automotive, furniture, and packaging. Additionally, the growing construction and renovation activities, coupled with the rising disposable income and urbanization, contribute to the market growth. In terms of segments, the rigid foam segment held the largest market share in 2025, and it is expected to maintain its dominance throughout the forecast period. The growth of this segment is attributed to the increasing demand for polyurethane rigid foams in insulation applications, particularly in the construction sector. The flexible foam segment is another significant segment in the market, driven by its extensive use in furniture and bedding applications. The automotive and transportation sectors also contribute to the growth of the polyurethane market, as polyurethane is widely used in the production of interior components, coatings, and adhesives. Recent developments include: In August 2024, Huntsman International LLC appointed Jan Buberl President of Performance Products Division, effective August 1, 2024. He brought success and global experience to the role, having served as Huntsman Polyurethanes, Americas VP and at Venator and BASF. , In July 2024, BASF launched Haptex 4.0, a polyurethane solution to produce synthetic leather while introducing a fully recyclable material. This formulation and recycling was enabled with PET fabric as a single unit, eliminating the need for layer removal. , In May 2024, The Lubrizol Corporation introduced the Pearlbond ECO 590 HMS TPU to its bio-based thermoplastic polyurethane portfolio for adhesives. The TPU is a renewable source resin for hot melt adhesives. .