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Polyurethane Resin in the Global Composites Industry Market Trends and Forecast

Lucintel finds that the future of the polyurethane resin in the global composite material market looks promising with opportunities in the transportation, construction, and other industries. The global polyurethane resin in the global composite industry market is expected to reach an estimated $197 million by 2031 with a CAGR of 3% from 2024 to 2031. The major drivers for this market are increasing demand for lightweight materials in the automotive industry to achieve higher fuel efficiency and reduce greenhouse gas emissions and growing acceptance of polyurethane resin in the global composite industry in wind blade application due to its fast curing and good flow ability as compared to epoxy resin.
 
Polyurethane Resin in the Global Composites Industry

Polyurethane resin in the global composites industry is primarily made from raw materials such as Isocyanates and polyols are the two basic raw ingredients used to make polyurethane resin. Polyols, which are polymeric compounds having numerous hydroxyl groups, react with isocyanates such as toluene diisocyanate (TDI) or methylene diphenyl diisocyanate (MDI). The exact types and ratios of isocyanates and polyols employed in these processes can result in polyurethane polymers with a range of characteristics. Additional additives, such as surfactants, blowing agents, and catalysts, can be added to modify the resin's ultimate properties, including density, flexibility, and hardness. Polyurethane resin prices can vary widely depending on factors like type, quality, and market conditions. Generally, polyurethane resins can be competitive in price compared to other resin types such as epoxy or polyester resins. The cost-effectiveness of polyurethane resin often stems from its versatility, durability, and performance characteristics, which can justify its higher initial cost in many applications.
  • Lucintel forecasts that transportation will remain the largest end use segment over the forecast period due to increasing usage of light weight material to increase fuel economy.
  • Pultrusion will remain the largest manufacturing process over the forecast period due to increasing demand for pultruded products, such as wind turbine spar caps, cladding panels, window frame, door and load floor. Resin transfer molding is expected to witness highest growth over the forecast period.
  • North America is expected to remain the largest region over the forecast period due to higher acceptance level of polyurethane composites materials and growth in automotive industry. ROW is expected to witness highest growth over the forecast period.

Country wise Outlook for the Polyurethane Resin in the Global Composites Industry

 
The polyurethane resin in the global composites industry is witnessing substantial growth globally, driven by increased demand from various industries such as aerospace, automotive, wind energy, and construction. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major carbon fiber producers in key regions: the USA, EU, China, India, Japan, and South America.
 
Polyurethane Resin in the Global Composites Industry by Country
 
 

Emerging Trends in the Polyurethane Resin in the Global Composites Industry

 
Emerging trends in the polyurethane resin in the global composites industry shaping its future application and market dynamics:
  • Increasing Focus on Sustainability: Growing environmental concerns and regulatory demands are driving up demand for bio-based and renewable polyurethane resins.
  • Rising Demand in High Performance Application: An increase in applications, especially in the electronics, construction, and automotive industries that call for high-performance qualities including flexibility, durability, and light weighting.
  • Innovation in Use: Creation of polyurethane resins for cutting-edge uses such as aircraft parts, medical equipment, and 3D printing.
  • Circular Economy activities: To cut waste and increase the sustainability of polyurethane resin products over their whole lifespan, concentrate on recycling and circular economy activities.
 
Polyurethane Resin in the Global Composites Industry by Emerging Trends

A total of 82 figures / charts and 56 tables are provided in this 144-page report to help in your business decisions. A sample figure with insights is shown below.  

Polyurethane Resin in the Global Composites Industry by Segments


Recent Developments by the Polyurethane Resin in the Global  Composites Suppliers

 
Recent developments in polyurethane resin in the global composites industry by various companies highlight ongoing innovations and advancements across different sectors:
  • New Formulations and Technologies: Suppliers are focusing on developing advanced formulations of polyurethane resin to enhance properties such as strength, flexibility, and durability. This includes innovations in additives and curing agents to meet specific application requirements.
  • Sustainability Initiatives: Many suppliers are investing in sustainable practices, such as reducing VOC emissions, using bio-based raw materials, and improving recycling capabilities for polyurethane resin products.
  • Expansion of Production Capacities: There's a notable trend of expanding production capacities globally to meet increasing demand across various sectors, including automotive, construction, aerospace, and marine industries.
  • Partnerships and Collaborations: Suppliers are forming strategic partnerships and collaborations with end-users and research institutions to drive innovation and develop tailored solutions for specific applications.
  • Focus on Performance Enhancements: Continuous efforts are being made to improve the performance characteristics of polyurethane resin, including fire resistance, thermal stability, and resistance to chemicals and environmental factors.
Polyurethane Resin in the Global Composites Industry Suppliers and Their Market Shares
In this globally competitive market, several key players such as BASF, Covestro, Huntsman Corporation, Dow Chemicals, and Wanhua Chemical Group Co. Ltd dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players Contact Us. Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies polyurethane resin in the global composites industry cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the low density SMC companies profiled in this report includes.
  • BASF
  • Covestro
  • Huntsman Corporation
  • Dow Chemicals
  • Wanhua Chemical Group Co. Ltd.
These companies have established themselves as leaders in the polyurethane resin in the global composites industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations. 
The market share dynamics within the polyurethane resin in the global composites industry are evolving, with the entry of new players and the emergence of innovative carbon fiber technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.

Polyurethane Resin in the Global Composites Industry by Segment

 
The polyurethane resin in the global composites industry is experiencing significant growth across several key segments. Polyurethane resins are increasingly used in automotive components due to their lightweight properties, impact resistance, and design flexibility, which help in improving fuel efficiency and reducing emissions. There is growing demand for polyurethane resins in construction applications, especially for insulation panels, structural elements, and decorative finishes, driven by energy efficiency requirements and durability. The aerospace sector is adopting polyurethane resins for lightweight composite materials in aircraft interiors, structural components, and aerodynamic surfaces to achieve fuel efficiency and performance improvements. Polyurethane resins are vital in wind turbine blade manufacturing due to their excellent mechanical properties, such as stiffness and fatigue resistance, supporting the expansion of renewable energy sources. In the marine industry, polyurethane resins are used for boat hulls, decks, and components due to their corrosion resistance, water impermeability, and ease of molding, contributing to growth in leisure and commercial marine sectors.
This polyurethane resin in the global composites industry report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments, including end use, application, manufacturing process, and fiber type. The report offers insights into regional dynamics, highlighting the major markets for polyurethane resin in the global composites industry and their growth potentials. The study includes trends and forecast for the global polyurethane resin in the global composites industry by end use, application, manufacturing process, fiber type and region as follows:
 

Polyurethane Resin in the Global Composites Industry by End Use [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:

  • Transportation
  • Construction
  • Others
Polyurethane Resin in the Global Composites Industry by Application [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
  • Doors
  • Load Floors
  • Cross Arms
  • Manhole Covers
  • Sunshades
  • Door Panels
  • Side Panels
  • Utility Poles
  • Wind Energy
  • Windows
  • Others

Polyurethane Resin in the Global Composites Industry by Manufacturing Process [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:

  • Pultrusion
  • Injection Molding
  • Reinforced Reaction Injection Molding
  • Resin Transfer Molding
  • Filament Winding
  • Spray Up Process

Polyurethane Resin in the Global Composites Industry by Fiber Type [Value ($M) and Volume (M lbs.)  Analysis for 2019 – 2031]:

  • Chopped
  • Roving

Polyurethane Resin in the Global Composites Industry by Region [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World
 Lucintel Analytics Dashboard

Features of Polyurethane Resin in the Global Composites Industry

  • Market Size Estimates: Polyurethane resin in the global composites industry size estimation in terms of value ($M) and volume (M lbs.)
  • Trend and Forecast Analysis: Market trends (2019-2024) and forecast (2025-2031) by various segments and regions.
  • Segmentation Analysis: Market size by end use, application, manufacturing process, fiber type, and region
  • Regional Analysis: Polyurethane resin in the global composites industry breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different by end use, application, manufacturing process, fiber type, and region for the polyurethane resin in the global composites industry.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the polyurethane resin in the global composites industry.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
 If you are looking to expand your business in PU resin in the global composites industry or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

 Lucintel Consulting Services
 

Frequently Asked Questions (FAQ)

Q1. What is the polyurethane resin in the global composites industry size?
Answer: The global polyurethane resin in the global composites industry is expected to reach an estimated $197 million by 2031.     
Q2. What is the growth forecast for polyurethane resin in the global composites industry?
Answer: The polyurethane resin in the global composite industry market is expected to grow at a CAGR of 3% from 2024 to 2031.
Q3. What are the major drivers influencing the growth of the polyurethane resin in the global composites industry?
Answer: The major drivers for this market are increasing demand for lightweight materials in the automotive industry to achieve higher fuel efficiency and reduce greenhouse gas emissions and growing acceptance of polyurethane resin in the global composite industry in wind blade application due to its fast curing and good flow ability as compared to epoxy resin industry.
Q4. What are the major applications or end use industries for polyurethane resin in the global composites industry?
Answer: Transportation and construction are the major application for polyurethane resin in the global composites industry. 
Q5. What are the emerging trends in polyurethane resin in the global composites industry?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include emergence of bio based polyurethane resin in the global composite industry in the composites market and increasing penetration of polyurethane resin in the global composite industry in construction and wind energy applications of the composites market.
Q6. Who are the key polyurethane resin in the global composites industry companies?
Answer: Some of the key polyurethane resin in the global composites industry companies are as follows:
  • BASF
  • Covestro
  • Huntsman Corporation
  • Dow Chemicals
  • Wanhua Chemical Group Co. Ltd.
 Q7.Which polyurethane resin in the global composites industry product segment will be the largest in future?
Answer: Lucintel forecasts that pultrusion by process will remain the largest segment and it is expected to witness the highest growth over the forecast period due to increasing demand for pultruded products, such as wind turbine spar caps, cladding panels, window frame, and door and load floor.
Q8: In polyurethane resin in the global composite industry market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region over next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 

This report answers following key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global polyurethane resin in the global composite industry market by end use (transportation, construction, and others), application (doors, load floors, cross arms, manhole covers, sunshades, door panels, side panels, utility poles, wind energy, windows, and others), manufacturing process (pultrusion, injection molding, reinforced reaction injection molding, resin transfer molding, filament winding, and spray up process), fiber type (chopped and roving), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? 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 and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
1. Executive Summary

2. Market Overview
2.1: Background and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends & Forecast Analysis
3.1: Macroeconomic Trends and Forecast
3.2: Polyurethane Resin in the Global Composites Market Trends and Forecast
3.3: Polyurethane Resin in the Global Composites Market by End Use Industry
3.3.1: Transportation
            3.3.2: Construction
            3.3.3: Others
3.4: Polyurethane Resin in the Global Composites Market by Application
3.5: Polyurethane Resin in the Global Composites Market by Manufacturing Process
3.6: Polyurethane Resin in the Global Composites Market by Fiber Type        
 
4. Regional Analysis
4.1: Polyurethane Resin in the Global Composites Market by Region
4.2: Polyurethane Resin in the North American Composites Market
4.2.1: Polyurethane Resin in the North American Composites Market by End Use Industry
4.3: Polyurethane Resin in the European Composites Market
 4.3.1: Polyurethane Resin in the European Composites Market by End Use Industry
4.4: Polyurethane Resin in the APAC Composites Market
4.4.1: Polyurethane Resin in the APAC Composites Market by End Use Industry
4.5: Polyurethane Resin in the ROW Composites Market
4.5.1: Polyurethane Resin in the ROW Composites Market by End Use Industry
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis
 
6. Opportunities & Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Polyurethane Resin in the Global Composites Market by End Use Industry
6.1.2   Growth Opportunities for the Polyurethane Resin in the Global Composites Market by Manufacturing Process
6.1.3   Growth Opportunities for the Polyurethane Resin in the Global Composites Market by Application
6.1.4   Growth Opportunities for the Polyurethane Resin in the Global Composites Market by Fiber Type
6.1.5   Growth Opportunities for the Polyurethane Resin in the Global Composites Market by Region
6.2: Emerging Trends of Polyurethane Resin in the Global Composites Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion by Epoxy Resin Players in the Global Composites Market
6.3.3   Mergers, Acquisitions and Joint Ventures by Epoxy Resin Companies in the Global Composites Market
 
7. Company Profile
7.1: BASF SE
7.2: Covestro
7.3: Hunstman Corporation
7.4: DOW
7.5: Wanhua Chemical Group Co.Ltd
.

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