LONDON, Sept. 27, 2016 /PRNewswire/ -- Background:
According to a new market report published by Lucintel, the future of the global polyurethane resin market looks good, with opportunities in the transportation, and construction. The global polyurethane (PU) resin market is forecast to grow at a CAGR of 5.7% by value from 2015 to 2020. The major drivers of growth for this market are composites manufactured from PU resin have short cycle time, higher toughness and flexibility compared to composites based on vinyl ester and unsaturated polyester resin. In this market, transportation and construction are the major segments for polyurethane resin. On the basis of its comprehensive research, Lucintel forecasts that the transportation and construction are expected to show above average growth during the forecast period. Within the polyurethane resin market, transportation is expected to remain as the largest market by value and volume consumption. Fast cure property and increase demand of lightweight materials would spur growth for this segment over the forecast period. North America is expected to remain the largest market during the forecast period due to growth of end use industries, such as transportation and construction.
Europe and Asia Pacific is expected to show above average growth during the forecast period by virtue of growing automotive industry. For market expansion, the report suggests innovation and new product development, where the unique characteristics of polyurethane resin can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of lowcost solutions for the end user. Emerging trends, which have a direct impact on the dynamics of the industry, are development of new applications and bio based polyurethane resin. Bayer AG, Huntsman Corporation, Dow Chemical Company, BASF SE and Wanhua Chemical Groups are among the major players of polyurethane resin in global composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the polyurethane market in the global composites industry by end use industry and region, and has come up with a comprehensive research report, "Growth Opportunities for Polyurethane Resin in the Global Composites Industry 2015-2020: Trends, Forecast, and Opportunity Analysis". The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the polyurethane resin in the global composites industry through 2021, segmented by end use industry and region as follows:
By region [Value ($M) and Volume (M lbs) shipment analysis for 2009 – 2020]:
• North America
• Asia Pacific
• Rest of the World By end use industry [Value ($M) and Volume (M lbs) shipment analysis for 2009 – 2020]:
Others This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth of polyurethane resin in the global composites market by applications and region?
Q. 2.Which product segments will grow at a faster pace and why?
Q. 3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are emerging trends in this market and reasons behind them?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market and which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities has transpired in the last 5 years in this market and what is its impact on the industry?
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