By Nick Gilbert
A new research report titled, "Polyurethane Global Market to 2016 - Growth of Rigid and Flexible Polyurethane Foams in Asia-Pacific to Drive Global Demand,” has been released by MarketResearch.com.
According to GBI Research, the worldwide polyurethane market will grow in the upcoming years, and it is expected that the global demand for the material will increase at a CAGR of 5.8% and reach 16,882,412 tons in 2016. The Asia-Pacific region accounts for more than 60% of this demand.
For several years, polyurethane rigid foams produced from Methyl Diphenyl Diisocyanate (MDI) have been utilized for thermal insulation in developed countries. Currently, these foams are also gaining acceptance in other regions and increasing the worldwide demand. Europe sees the energy performance of buildings as a key to achieve the following EU Climate & Energy goals:
- Cut down 20% of greenhouse gas emissions by 2020
- Save 20% on energy expenses by 2020
Recently, China's Ministry of Finance has allotted 1.7 billion RMB to support energy efficiency construction programmes in the region and the polyurethane rigid foam is anticipated to play an important role in this effort.
Flexible and rigid polyurethane foams accounted 60% of the overall end-use segment in 2010, according to GBI Research's analysis. The foams are commonly used in the footwear, furniture, automotive and construction industries. In the last decade, lower production costs have prompted polyurethane manufacturing firms to shift their operations to Asia. The growth in the number of manufacturing facilities in countries like China is considered as the major reason for increase in demand.