Due to their outstanding qualities, including adhesion, durability, insulation, and water resistance, polyurethane prepolymers are frequently utilised in the building sector. The market for polyurethane polymers is being driven by the expansion of the construction sector, particularly in developing nations. Due to its use in the production of numerous vehicle components like seats, dashboards, steering wheels, and others, the automotive sector is a significant user of polyurethane prepolymers. The usage of polyurethane prepolymers in the automotive sector is driven by the rising need for lightweight, fuel-efficient automobiles.
In terms of revenue over the projected period (2023-2030), the global Polyurethane Prepolymer Market was estimated to be worth US$ 491.5 Mn in 2022 and is anticipated to grow at a CAGR of 6.40% to reach US$ 807.3 Mn by 2030.
Leading Companies in the Polyurethane Prepolymer Industry:
- Covestro AG: German headquarters are in Leverkusen. Bayer Material Science, now known as Covestro, was separated from the Bayer Group in 2015. The business, which discovered polyurethanes and polycarbonates in the middle of the 20th century, is a market leader in these materials. Additionally, it operates a substantial specialty chemicals industry that is mostly concerned with coatings and adhesives. End markets including automotive, construction, and furniture that are cyclical in nature are the main drivers of demand for Covestro's goods. Leading sustainable coating resins company DSM will be acquired by Covestro.
- DowDupont Inc.: As a result of the DowDuPont merger and subsequent separations, DuPont was established in 2019 as a diversified global speciality chemicals corporation. Its portfolio includes speciality chemicals and downstream goods for the water management, automotive, construction, safety and protection, and electronics and communication sectors. The capacity to create patented speciality compounds with market power advantages DuPont. A few notable goods are Kevlar, Tyvek, and Nomex, which have developed over time to enable a wide range of applications across numerous sectors.
- Huntsman Corporation: Built in 1970. Head office in the United States. A US-based producer of unique organic chemical compounds is Huntsman Corp. Methyl diphenyl diisocyanate (MDI), Amines, Maleic anhydride, and formulations for epoxy-based polymers are included in its product line. The company's goods are utilised, among other things, in adhesives, aerospace, automobiles, and building materials. Polyurethanes, Performance Products, and Advanced Materials make up its operating segments. The Polyurethanes division, which comprises MDI, polyols, TPU (thermoplastic polyurethane), and other goods linked to polyurethane, accounts for the majority of its revenue. The United States and Canada, Europe, Asia-Pacific, and the Rest of the World are its geographical segments. Huntsman completes the purchase of Gabriel Performance Products, enhancing its offering of specialty chemicals.
- LANXESS AG: Built in 1862. German headquarters are in Cologne. German chemical manufacturer Lanxess was first separated from Bayer. By selling off its synthetic rubber business in recent years, Lanxess has clearly decommoditized its portfolio and is transitioning to a speciality chemicals firm that specialises in consumer protection chemicals, specialty additives, intermediates, and engineering plastics. The microbiological control division of IFF has been acquired by LANXESS.
- Mitsui Chemicals Inc.: Headquarters in Japan. Plastics, chemicals, and other items based on chemicals are all produced and sold by Mitsui Chemicals Inc. Based on the kind of goods it sells, the company divides itself into five sectors. Petrochemicals, industrial chemicals, phenols, and polyesters are sold under the basic materials category, which is the one that provides the most revenue. Elastomers, performance compounds, and performance polymers are sold to the car sector by the mobility segment. Healthcare, food and packaging, and other are the last three business sectors. Asia is where most of the money originates from. In 2022, Mitsui Chemicals, Inc. declared that it has reached a deal to buy the pellicle division of Asahi Kasei Corporation.
- Tosoh Corporation: Established in 1935. Headquarters in Japan. Petrochemical, plastic, and chemical-based goods are all produced and sold by Tosoh Corp. By product category, the company divides itself into four areas. The Petrochemical section sells olefins and polymers, such as ethylene and polyvinyl chloride, which are used to create plastics for a range of end purposes. This segment generates more revenue than any other segment. The Chlor-Alkali section offers goods for treating water as well as caustic soda, which is used to produce soap. The Specialty section offers a range of zirconia products, clinical diagnostics tools, battery materials and bromine-based flame retardants for electronics.
- SAPICI S.p.A: Founded in 1936. Headquarters in Italy's Varese. Manufacturer of unique prepolymers with the goal of providing high-performance resins. Customers can obtain elastomers and sealants thanks to the high-performance polyurethanes utilised by the company in coating, flexible packaging, industrial adhesives, prepolymers, inks, and other applications. Italian adhesives and polymers manufacturer SAPICI S.p.A. and its holding company are acquired by DIC Group.
*Definition: Polyurethane prepolymer products are used as precursor materials for a variety of applications including molding compounds, sealants and adhesives, coatings, and other specialty products.
