GCC Polyurethanes Market By Raw Material (Polyols, MDI, TDI, and Others), By Product (Flexible Foam, Rigid Foams, Coatings, Adhesives & Sealants, Elastomers, and Others), End User (Building & Construction, Automotive & Transportation, Bedding & Furniture, Appliances & white goods, and Others), and By Countries (UAE, Saudi Arabia, Oman, Kuwait, and Rest of GCC) – Opportunities & Forecast, 2020-2027
The polyurethanes is a polymer which is formed by the reaction of a polyol resin with a polymeric isocyanate in the presence of suitable catalysts and additives. The chemical structure is highly cross-linked and has a very large molecular weight. Polyurethanes is a versatile material and can be found in a wide range of day-to-day products including mattresses, couches, insulation, liquid coatings and paints, tough elastomers, adhesives, sealants, medical devices, footwear, and many other products.
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The significant factor driving the growth of the GCC polyurethanes market includes the exceptional features offered by it such as versatility and unique structural properties including high flexural strength, abrasion resistance, high tear resistance, high tensile strength, good electrical insulating properties, extreme temperature resistance, and better color stability in outdoor applications. Increasing usage of polyurethanes in a wide variety of consumer and industry applications such as household furniture, shoes, packaging plastics, automotive parts, electrical potting compounds, adhesives, coatings, sealants, insulations for tanks, pipes, water heaters, refrigerators, and freezers, among other applications are augmenting the growth and development of the market in the GCC region.
Growing demand for polyurethane in the building and construction sector owing to its durability with low thermal conductivity and ability to withstand external impacts, is expected to drive the overall market. They are extensively used in insulating and air-sealing homes and buildings, which helps in protecting the building against severe weather conditions, reduces air leakage, and decreases greenhouse gas emissions, which can result in lower utility bills and improved indoor air quality. Additionally, polyurethanes are being increasingly used in home furnishings such as furniture, bedding, and carpet underlay.
The increasing demand for furniture in the residential and commercial sector, growing construction sector in GCC countries, along with major infrastructural projects, including the NEOM city, Orchid Villas Project, InterContinental Hotel Project, DoubleTree Hilton Hotel Project, Al Faisaliah City, New Jeddah Downtown, Al Noor City, Government Housing Plans, Oman’s Duqm Port, and Kuwait’s Silk City, among others are further expected to increase the demand of polyurethanes in the region. On the other hand, the fluctuating raw material costs and availability of substitute products including fiberglass and polystyrene foam are the major factors that will hamper the growth of the GCC polyurethanes market over the forecast period.
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Based on the raw material, the polyurethanes market is segmented into polyols, MDI (methylenediphenyl diisocyanate), TDI (toluene diisocyanate), and others. The polyols segment is anticipated to grow at a higher CAGR during the forecast period. This is attributed to the extensive use of polyols in making flexible and rigid foams, thermoset elastomers, and durable elastomers. Moreover, the usage of polyols in the manufacturing polyurethane foams that are used in numerous products including furniture, carpets, vehicles interior, car seats, high-performance adhesives and sealants, and many other products, will further surge the growth of the segment. On the other hand, Methylenediphenyl diisocyanate (MDI) segment is expected to dominate the market due to the extensive use of MDI for the production of polyurethanes, including coatings, adhesives, sealants, and elastomers that are found in paints, glues, weather resistant materials, footwear, sports, and leisure products.
Based on the product, the market is segmented into flexible foam, rigid foams, coatings, adhesives & sealants, elastomers, and others. The rigid foams segment is expected to witness a faster CAGR during the forecast period. This is mainly due to its good heat stability, high compressive strength, and excellent insulation properties. The rigid foams are effectively used in roof and wall insulation, insulated windows, doors and air barrier sealants, refrigerator, and freezer thermal insulation systems.
Based on end user, the market is segmented into building & construction, automotive & transportation, bedding & furniture, appliances & white goods, and others. The bedding & furniture segment is projected to witness higher CAGR owing to the increasing usage of polyurethanes in materials used in home furnishings, including furniture, bedding, and carpet underlay. Additionally, the flexible and recyclable properties of polyurethane foam further contribute to their high demand in making comfortable, durable, and supportive furniture. The building & construction segment is expected to grow at a higher CAGR primarily due to the high insulating property of polyurethanes. In addition to this, the rising use of polyurethanes in cavity walls, roofs, floors, around pipes, boilers, adhesives, and coatings in the construction sector is propelling the segment growth during the forecast period.
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Based on the countries, the GCC Polyurethanes market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the rest of GCC. The growing number of public-private partnerships for the development of the construction industry, residential and commercial sector in Saudi Arabia and UAE is expected to propel the growth of the Polyurethanes market in the UAE and Saudi Arabia. Furthermore, major construction projects including Sultan Qaboos Medical City Complex in Barka, King Faisal Medical City in Asir, King Abdullah Medical City in Bahrain, Seven City JLT, The Avenues Riyadh, Asian mall, Fayat Project, and other projects are expected to propel the demand of polyurethaness in the region.
Various notable players operating in the GCC polyurethanes market include Covestro AG, BASF SE, The Dow Chemical Company, Wanhua Chemical Group Co.,Ltd., Huntsman International LLC, Crain Communications, Inc., Baalbaki Chemical Industries, Mitsui Chemicals Inc., DeltaChem Middle East LLC, and HANNECARD Saudi among others.
The GCC Polyurethanes market has been segmented on the basis of raw material, product, end user, and countries. Based on the raw material, the polyurethanes market is segmented into polyols, MDI (methylenediphenyl diisocyanate), TDI (toluene diisocyanate), and others. Based on the product, the market is segmented into flexible foam, rigid foams, coatings, adhesives & sealants, elastomers, and others. Based on end user, the market is segmented into building & construction, automotive & transportation, bedding & furniture, appliances & white goods, and others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.
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Key questions answered in this research report:
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- At what pace is GCC Polyurethanes Market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in GCC Polyurethanes Market? What will be the impact of drivers and restraints in the future?
- Which product generated maximum revenues in 2019 and identify the most promising component during the forecast period?
- What are the various end users of GCC Polyurethanes Market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Raw Material, By Product, By End User, By Countries |
Regional Coverage | GCC |
Companies Profiled | Covestro AG, BASF SE, The Dow Chemical Company, Wanhua Chemical Group Co.,Ltd., Huntsman International LLC, Crain Communications, Inc., Baalbaki Chemical Industries, Mitsui Chemicals Inc., DeltaChem Middle East LLC, and HANNECARD Saudi among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation:
GCC Polyurethanes Market by Raw Material
-
- Polyol
- MDI (Methylene diphenyl Diisocyanate)
- TDI (Toluene Diisocyanate)
- Others
GCC Polyurethanes Market by Product
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- Flexible foam
- Rigid foam
- Coating
- Adhesive & sealants
- Elastomers
- Others
GCC Polyurethanes Market by End User
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- Building & construction
- Automotive & transportation
- Bedding & furniture
- Footwear
- Appliances & white goods
- Others
GCC Polyurethanes Market by Countries
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- UAE Polyurethanes Market All-Up (Option 1: Free 25% Customization)
- Saudi Arabia Polyurethanes Market All-Up (Option 2: Free 25% Customization)
- Oman Polyurethanes Market All-Up (Option 3: Free 25% Customization)
- Kuwait Polyurethanes Market All-Up (Option 4: Free 25% Customization)
- Rest of GCC Polyurethanes Market All-Up (Option 5: Free 25% Customization)
GCC Polyurethanes Leading Market Players (Option 6: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Covestro AG
- BASF SE
- The Dow Chemical Company
- Wanhua Chemical Group Co., Ltd.
- Huntsman International LLC
- Crain Communications, Inc.
- Baalbaki Chemical Industries
- Mitsui Chemicals Inc.
- DeltaChem Middle East LLC
- HANNECARD Saudi
- Published Date: Nov-2020
- Report Format: Excel/PPT
- Report Code: UP510A-00-0620
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GCC Polyurethanes Market By Raw Material (Polyols, MDI, TDI, and Others), By Product (Flexible Foam, Rigid Foams, Coatings, Adhesives & Sealants, Elastomers, and Others), End User (Building & Construction, Automotive & Transportation, Bedding & Furniture, Appliances & white goods, and Others), and By Countries (UAE, Saudi Arabia, Oman, Kuwait, and Rest of GCC) – Opportunities & Forecast, 2020-2027
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