Polyurethane Elastomers Companies

The polyurethane elastomers market is a dynamic playground for established giants and emerging players alike. Understanding the competitive landscape is crucial for anyone navigating this space, and this comprehensive look aims to equip you with insights into the strategies, factors, news, and recent developments shaping the market.

Strategies Adopted by Key Players:

• 
  Product Diversification: Leading companies like BASF, Dow, and Covestro are broadening their portfolios to cater to specific end-use applications. The focus lies on lightweight, high-performance elastomers that meet stringent sustainability and environmental regulations.


• 
  Vertical Integration: To secure raw material supply and improve cost efficiency, players like Huntsman Polyurethanes and Bayer MaterialScience are investing in backward integration, acquiring upstream assets in the polyol and isocyanate chain.


• 
  Geographical Expansion: Emerging markets in Asia-Pacific, particularly China and India, offer significant growth potential. Companies like Tosoh Corporation and Yantai Wanhua have established production facilities in these regions to capitalize on the rising demand.


• 
  Technological Innovation: Continuous R&D efforts are directed towards developing bio-based and recycled polyurethane elastomers. Companies like Evonik Industries and Asahi Kasei are leading the charge with their eco-friendly solutions.


• 
  Strategic Partnerships and Collaborations: Collaborations with universities, research institutes, and startups are fostering innovation and accelerating product development. Dow's partnerships with MIT and Covestro's collaboration with the Fraunhofer Institute are prime examples.

Factors Influencing Market Share:

• 
  Product Quality and Performance: Offering consistently high-performing, durable, and versatile elastomers remains paramount for gaining market share.


• 
  Price Competitiveness: Balancing cost-effectiveness with product quality is crucial, especially in price-sensitive segments like footwear and construction.


• 
  Brand Reputation and Customer Relationships: Building trust and establishing strong relationships with end-use industries like automotive and furniture plays a significant role in securing market share.


• 
  Geographical Presence and Distribution Network: Having a robust regional presence and efficient distribution channels to cater to diverse customer needs is essential for success.


• 
  Sustainability and Environmental Footprint: As environmental regulations tighten, offering eco-friendly solutions and showcasing commitment to sustainability can provide a competitive edge.

List of Key Players in the Polyurethane Elastomers Market

• Tosoh Corporation (Japan)


• Dow (US)


• BASF SE (Germany)


• Covestro AG (Germany)


• Huntsman International LLC (US)


• LANXESS (Germany)


• The Lubrizol Corporation (US)


• Trelleborg (Sweden)


• Herikon (The Netherlands)


• Argonics, Inc (US)


• VCM Polyurethanes Pvt. Ltd (India) 

Recent Developments:

Nov 2021 Covestro AG plans to establish a new polyurethane elastomer systems plant in Shanghai to increase global demand, particularly in the Asia Pacific. The plant will be part of the German supplier's Euro 3.5 billion integrated site in Shanghai, which will open in 2023, according to a statement made on November 7 at the China International Import Expo (CIIE). Covestro would not comment on the plant's capacity. This investment demonstrates our continued faith in and commitment to the Chinese market. Covestro anticipates that its elastomers and other high-tech materials will help China achieve sustainable development and carbon-neutral goals. Polyurethane elastomers are becoming more popular in a range of industries, including solar and offshore wind energy, as well as materials handling, according to Covestro. 

Nov 2021 Evonik has maintained its status in the polyurethane (PU) market with the official opening state-of-the-art research and laboratory complex at its Essen Goldschmidt location in Germany at the end of October. The expanded 400-square-meter laboratory will augment the group's development capabilities for high-performance specialty PU additives and processing equipment for a multitude of PU applications. Low - emissions catalysts for high-quality coatings and adhesives, sustainable artificial leather fabrication, performance enhancers for making PU shoe soles more resilient and comfortable, and emission-optimized release agents for molded foams and elastomers are one of the slightly elevated application fields.

In November 2021, Evonik maintained its position on the polyurethane (PU) market through the official launching of a state-of-the-art research and laboratory complex at the Essen Goldschmidt location end last October recently. Through this cooperative venture with other partners, it can develop specialty additives for high-performance PU products as well as process equipment like mix heads and pumps etc.

For instance, Lanxess launched energy-saving polyurethane elastomers in January 2021. The new material has reduced thermal load and energy input during usage. It is best suited for machine tools, measuring instruments and molds, as well as other products associated with rubber-finished goods such as tires, among others.