Polyurethane Prepolymer Market, By Product Type (MDI-Based, TDI-Based, and Others), By Application (Coatings, Adhesives & Binders, Sealants, and Elastomers), And by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)

Published In : Apr 2023

Code : CMI3023

Pages :140

Formats :

Excel and PDF

Industry : Specialty and Fine Chemicals

Polyurethane Prepolymer MarketSize and Trends

The global polyurethane prepolymer market was valued at US$ 491.5 Mn in 2022 and is expected to register a CAGR of 6.40%, in terms of revenue over the forecast period (2023-2030), to reach US$ 807.3 Mn by 2030. Polyurethane prepolymer-based adhesives & binders offer high hardness, high tensile strength, and excellent adhesive strength and hence can be utilized in moisture-curing systems. Polyurethane prepolymer adhesives find applications in various construction & infrastructural activities such as roadway construction. Prepolymers find applications in various polyurethane (PU)-based end-uses like automotive industries. Increasing demand for PU prepolymers is due to the beneficial properties they offer to the final product. These prepolymers possess unique properties such as a rubber-like elasticity along with metal-like toughness. They also offer durability, biocompatibility, and biodegradability, which make them suitable materials for various PU-based applications including industrial coatings, adhesives & elastomers, and also for biomedical applications

Asia Pacific accounted for the largest revenue share of 51.30% in the global polyurethane prepolymer market in 2022 and is projected to continue its dominance during 2023-2030. Furthermore, Asia Pacific region is expected to record the fastest growth in the global polyurethane prepolymer market during the forecast period. The growing polyurethane industry in countries such as China and India is expected to boost the growth of the polyurethane prepolymer market in the region. For instance, according to ‘Indian Polyurethane Association’, polyurethane production in India increased from 441 KT in 2014 to 564 KT in 2016, whereas in China it increased from 6020 KT in 2014 to 6879 KT in 2016.

Europe is another major market with a revenue share of 22.50%, in 2022 in the global polyurethane prepolymers market. With significant demand for industries such as construction, automotive, and packaging. This region has a mature market, with a high level of technological advancements and stringent regulations.

North America market for global polyurethane prepolymers is growing, driven by the demand from many industries. This region has a well-established market for polyurethane products and a high level of technological advancements.