According to a new market report published by Lucintel, the future of the polyurethane market look promising with opportunities in the building and construction, bedding and furniture, automotive and transportation, electrical and electronics, and footwear industries. The Middle Eastern and North African (MENA) polyurethane market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $2.3 billion by 2025 with a CAGR of 3%-5% from 2019 to 2025. The major drivers for this market are growth in building and construction activities, increasing automotive production, and growing demand for polyurethane in furniture and bedding industries.
In this market, polyurethane is used for manufacturing of flexible foam, rigid foam, coating, and elastomers for various end use industries. Lucintel forecasts that flexible foam will remain the largest segment by value and volume due to growth in furniture and bedding industry.
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Within this market, bedding and furniture will remain the largest end use industry due to growth in residential and commercial construction and changing lifestyle. Saudi Arabia will remain the largest market by value and volume; Saudi Arabia is also expected to witness the highest growth over the forecast period due to growth in residential and commercial construction.
Emerging trends, which have a direct impact on the dynamics of the industry, include the use of bio based polyurethane, increasing demand for low VOC, green, and sustainable polyurethane, and recycling of polyurethane. The Dow Chemical Company, Huntsman, BASF, Kuwait Polyurethane Industry, Covestro, and Wanhua Chemical Group are among the major suppliers of the Middle Eastern and North African polyurethane market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle Eastern and North African polyurethane market by application, product type, and country. Lucintel has prepared a comprehensive research report titled, “Growth Opportunities in the Middle Eastern and North African (MENA) Polyurethane Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the Middle Eastern and North African polyurethane market by application, product type, and country as follows:
By Application (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Building and Construction
Bedding and Furniture
Automotive and Transportation
Electrical and Electronics
Footwear
Others
By Product Type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Rigid Foam
Flexible Foam
Coating
Elastomers
Others
By Country (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Saudi Arabia
UAE
Iran
Iraq
Others
This 137-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com.
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