Polyurethane Elastomers Market Analysis

ID: MRFR/CnM/3073-HCR

140 Pages

Priya Nagrale

October 2025

Polyurethane Elastomers Market Research Report Information by Type (Thermoset PU Elastomers and Thermoplastic PU Elastomers), End-Use Industry (Footwear, Automotive, Machinery, Building & Construction and Medical), Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2035

Polyurethane Elastomers Market Infographic

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Market Analysis

In-depth Analysis of Polyurethane Elastomers Market Industry Landscape

The polyurethane elastomers market is characterized by dynamic shifts influenced by various factors ranging from industrial applications to technological advancements. Understanding these dynamics is crucial for stakeholders to effectively navigate this competitive landscape and capitalize on emerging opportunities. Industrial Applications: Polyurethane elastomers find extensive applications across diverse industries, including automotive, construction, footwear, and electronics. Their unique combination of flexibility, durability, and chemical resistance makes them ideal for manufacturing components, coatings, adhesives, and sealants, driving demand across various sectors and shaping market dynamics. Product Innovation: Continuous product innovation is essential to meet evolving consumer preferences and industry requirements in the polyurethane elastomers market. Manufacturers invest in research and development to introduce new formulations, additives, and processing techniques that enhance the performance, durability, and sustainability of polyurethane elastomers, driving market growth and shaping industry dynamics. Technological Advancements: Technological advancements in polyurethane chemistry and manufacturing processes impact market dynamics for elastomers. Continuous research leads to the development of advanced polyurethane formulations with improved properties such as higher tensile strength, tear resistance, and abrasion resistance, driving market growth and shaping industry standards. Regulatory Compliance: Regulatory requirements pertaining to product safety, environmental impact, and workplace health and safety influence market dynamics for polyurethane elastomers. Manufacturers need to ensure compliance with regulations such as REACH, RoHS, and OSHA standards to meet customer requirements and maintain market competitiveness. End-user Industries: Market dynamics for polyurethane elastomers are influenced by the demand from end-user industries such as automotive, construction, footwear, and electronics. Trends in these industries, such as lightweighting in automotive manufacturing, energy efficiency in construction, and customization in footwear design, drive the demand for polyurethane elastomers and shape market dynamics accordingly. Market Competition: The polyurethane elastomers market is competitive, with numerous players vying for market share based on factors such as product quality, performance, price, and service offerings. Manufacturers differentiate themselves through product innovation, customization, and value-added services to gain a competitive edge in the market. Geographical Trends: Market dynamics for polyurethane elastomers vary across different regions, influenced by factors such as economic development, industrialization, and regulatory frameworks. Emerging economies witness increasing demand driven by growing industrialization, infrastructure development, and consumer spending, shaping market dynamics in these regions. Supply Chain Management: Efficient supply chain management is crucial for maintaining market competitiveness in the polyurethane elastomers industry. Timely procurement of raw materials, efficient manufacturing processes, and reliable distribution networks are essential for meeting market demand and ensuring product availability. Consumer Trends: Changing consumer preferences for sustainable and eco-friendly products influence market dynamics for polyurethane elastomers. Consumers increasingly seek products that offer performance benefits while minimizing environmental impact, driving demand for formulations containing polyurethane elastomers and shaping market dynamics in these segments. Economic Factors: Economic factors such as inflation rates, currency fluctuations, and consumer spending patterns impact market dynamics for polyurethane elastomers. Changes in economic conditions influence demand from end-user industries, pricing strategies, and investment in research and development, shaping market dynamics accordingly.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per Market Research Future Analysis, the global polyurethane elastomers market, valued at approximately USD 13 billion in 2024, is projected to grow at a CAGR of about 5.60% from 2024 to 2032. The market is driven by high demand in the footwear industry, particularly due to the athleisure trend, and the automotive sector's need for lightweight materials. Polyurethane elastomers are primarily used in footwear, automotive components, and various industrial applications, with thermosetting elastomers dominating the market. Asia-Pacific is the leading region, holding over 50% market share in 2018, driven by increased consumer spending and a growing automotive industry. Key players include Tosoh Corporation, Dow, BASF SE, and Covestro AG.

Key Market Trends & Highlights

The polyurethane elastomers market is witnessing significant growth driven by various factors.

Market Valuation in 2024: USD 13 billion.
Projected CAGR from 2024 to 2032: 5.60%.
Asia-Pacific market share in 2018: over 50%.
Key growth driver: High demand in the footwear industry.

Polyurethane Elastomers Market

CAGR

5.60%

Market Size & Forecast

Market Size in 2024	USD 13 billion
Projected CAGR	5.60%
Largest Regional Market Share in 2018	Asia-Pacific
Key Growth Driver	Footwear Industry Demand

Major Players

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)

Market Trends

The demand for polyurethane elastomers is expected to rise due to their versatility and performance in various applications, particularly in automotive and construction sectors.

U.S. Department of Commerce

Polyurethane Elastomers Market Market Drivers

Market Trends and Projections

The Global Polyurethane Elastomers Market Industry is poised for substantial growth, with projections indicating a market value of 13 USD Billion in 2024 and an anticipated increase to 23.7 USD Billion by 2035. The compound annual growth rate is expected to be 5.6% from 2025 to 2035, reflecting the industry's resilience and adaptability. Key trends influencing this growth include advancements in technology, increasing demand from various sectors, and a heightened focus on sustainability. These factors collectively shape the future landscape of the polyurethane elastomers market.

Increasing Focus on Sustainability

Sustainability is becoming a central theme within the Global Polyurethane Elastomers Market Industry, as manufacturers seek to minimize environmental impact. The shift towards eco-friendly materials, including bio-based polyurethane elastomers, aligns with global sustainability goals and consumer preferences. This trend is particularly evident in industries such as packaging and automotive, where companies are increasingly adopting sustainable practices. As awareness of environmental issues grows, the demand for sustainable polyurethane elastomers is expected to rise, further propelling market growth and encouraging innovation in material development.

Rising Demand in Automotive Sector

The Global Polyurethane Elastomers Market Industry experiences a notable surge in demand from the automotive sector, driven by the need for lightweight and durable materials. Polyurethane elastomers are increasingly utilized in various automotive applications, including seals, gaskets, and interior components. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 13 USD Billion in 2024. As automotive manufacturers prioritize fuel efficiency and performance, the adoption of polyurethane elastomers is likely to expand, thereby enhancing the overall market landscape.

Growth in Construction Applications

The construction industry plays a pivotal role in the expansion of the Global Polyurethane Elastomers Market Industry. These materials are favored for their excellent mechanical properties and resistance to environmental factors, making them ideal for applications such as flooring, insulation, and coatings. The increasing focus on sustainable building practices and energy-efficient materials further propels the demand for polyurethane elastomers. As the construction sector continues to evolve, the market is projected to reach 23.7 USD Billion by 2035, reflecting a robust growth trajectory driven by innovative applications and regulatory support.

Expanding Applications in Healthcare

The healthcare sector is emerging as a significant driver for the Global Polyurethane Elastomers Market Industry, with applications ranging from medical devices to prosthetics. Polyurethane elastomers are valued for their biocompatibility, flexibility, and durability, making them suitable for various healthcare applications. The increasing demand for advanced medical technologies and devices is likely to boost the market, as manufacturers seek high-performance materials that meet stringent regulatory standards. This trend indicates a promising future for polyurethane elastomers in healthcare, contributing to the overall market growth.

Technological Advancements in Production

Technological advancements in the production of polyurethane elastomers are transforming the Global Polyurethane Elastomers Market Industry. Innovations in manufacturing processes, such as improved polymerization techniques and the development of bio-based alternatives, enhance the performance and sustainability of these materials. These advancements not only increase efficiency but also reduce production costs, making polyurethane elastomers more accessible to various industries. As a result, the market is likely to witness a compound annual growth rate of 5.6% from 2025 to 2035, indicating a strong potential for growth driven by continuous innovation.

Market Segment Insights

Regional Insights

Key Companies in the Polyurethane Elastomers Market market include

Industry Developments

October 2023: a Seoul private equity firm, Glenwood Private Equity, acquired 100% of SKC’s shares in SK pucore, a producer of poliurethanes. Accordingly, the petrochemical subsidiary of SKC was sold to another private equity firm at KRW 410.3 billion (USD 304.1 million) with an aim to focus on semiconductor and EV battery materials that will drive the PU elastomers market.

August 2023: Covestro AG has started manufacturing polyurethane elastomer systems in its new plant in Shanghai. The investment is undisclosed (in the double-digit EUR Million range). This is part of a series investments in elastomers raw materials made by the company over the past years with plants located in Thailand and Spain.

July 2023: Nordmann announced selling polyurethane elastomers produced by Era Polymers from Australia across Germany, Belgium, Holland, Italy, Finland, Sweden and Switzerland. The latter is specialized in developing and producing prepolymer systems for polyurethane elastomers production for the automotive sector, which has spread over six production sites where its capacity reaches more than 400 thousand tons per year.

In November 2021, Covestro AG intends to build a new plant for PU elastomer systems in Shanghai to meet growing global demand, especially coming from the APAC region. The German supplier’s facility will be part of the integrated site worth EUR 3.5 billion euros located in Shanghai, due to become operational at the beginning of the year two thousand twenty-three.

Intended Audience

Polyurethane elastomers manufacturers

Traders and distributors of polyurethane elastomers

Research and development institutes

Potential investors

End users

Nationalized laboratories

Future Outlook

Polyurethane Elastomers Market Future Outlook

The Global Polyurethane Elastomers Market is projected to grow at a 5.6% CAGR from 2024 to 2035, driven by advancements in automotive applications, increasing demand for lightweight materials, and innovations in sustainable production processes.

New opportunities lie in:

Develop bio-based polyurethane elastomers to meet rising sustainability demands.
Invest in R&D for high-performance elastomers in automotive and aerospace sectors.
Expand into emerging markets with tailored solutions for local industries.

By 2035, the market is expected to achieve substantial growth, reflecting evolving consumer preferences and technological advancements.

Market Segmentation

Report Scope

Attribute/Metric	Details
Market Size	13 Billion
CAGR	5.60% (2024-2032 )
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type and End-Use Industry
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	BASF SE (Germany), Bayer Materialscience (Germany), Bsw Gmbh (Germany), The Dow Chemical Company (U.S.), DuPont (U.S.), Lyondellbasell Industries N.V. (Netherlands), 3M (U.S.), KINGFA SCI. &TECH. CO., LTD. (China), Accella Polyurethane Systems (U.S.), and P+S Polyurethan-Elastomere GmbH & Co. KG (Germany)
Key Market Opportunities	High demand for polyurethane elastomers in the footwear industry
Key Market Drivers	Increasing active and fitness conscious among the consumers has given rise to the athleisure movement The active consumers are gravitating towards shoes that fit for every occasion

Market Highlights

Author

Priya Nagrale

Senior Research Analyst

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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FAQs

With what CAGR, the polyurethane elastomers market is projected to grow during the forecast period of 2022-2030?

Polyurethane elastomers market has the chance to showcase a 5.60% CAGR during the forecast period covering 2024-2032.

What was the estimated valuation of the polyurethane elastomers market valuation in 2018?

The estimated valuation of the polyurethane elastomers market was USD 20.9 Billion

Which industry can transform the outcome of the polyurethane elastomers market?

The automotive sector can change the global polyurethane elastomers market as the use of the component is picking up speed.

What trend could prove advantageous for the polyurethane elastomers market?

The inclusion of bio-friendly components can be trendy for the polyurethane elastomers market.

Which region has the upper hand in the polyurethane elastomers market?

The Asia Pacific market has control of the polyurethane elastomers market.

Table of Contents
1 Executive Summary
2 Market Introduction
1. Market Definition
2. Scope of the Study
3. Assumptions & Limitations
4. Market Structure
5. Key Takeaways
3 Market Insights
4 Research Methodology
1. Research Process
2. Primary Research
3. Secondary Research
4. Market Size Estimation
5. Forecast Model
5 Market Dynamics
1. Introduction
2. Drivers
3. Restraints
4. Opportunities
5. Challenges
6. Trends
6 Market Factor Analysis
1. Supply Chain Analysis
  1. Raw Material Suppliers
  2. Manufacturers/Producers
  3. Distributors/Retailers/Wholesalers/E-Commerce Merchants
  4. End-Users
2. Porter’s Five Forces Analysis
  1. Threat of New Entrants
  2. Intensity of Competitive Rivalry
  3. Threat of Substitutes
  4. Bargaining Power of Suppliers
  5. Bargaining Power of Buyers
3. Pricing Analysis
Global Polyurethane Elastomers Market, by Type
1. Introduction
2. Thermoset PU Elastomers
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
3. Thermoplastic PU Elastomers
7.3.1 Market Estimates & Forecast, 2020-2027
1. Market Estimates & Forecast, by Region, 2020-2027
Global Polyurethane Elastomers Market, by End-Use Industry
1. Introduction
2. Footwear
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
3. Automotive
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
4. Machinery
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
5. Building & Construction
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
6. Medical
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
7. Others
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Region, 2020-2027
Global Polyurethane Elastomers Market, by Region
1. Introduction
2. North America
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Type, 2020-2027
  3. Market Estimates & Forecast, by End-Use Industry, 2020-2027
  4. US
  5. Canada
3. Europe
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Type, 2020-2027
  3. Market Estimates & Forecast, by End-Use Industry, 2020-2027
  4. Germany
  5. France
  6. Italy
  7. Spain
  8. UK
  9. Russia
  10. Poland
4. Asia-Pacific
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Type, 2020-2027
  3. Market Estimates & Forecast, by End-Use Industry, 2020-2027
  4. China
9.4.5 India
1. Market Estimates & Forecast, 2020-2027
  1. Market Estimates & Forecast, by Type, 2020-2027
  2. Japan
  3. Australia & New Zealand
  4. Indonesia
  5. Rest of Asia-Pacific
2. Middle East & Africa
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Type, 2020-2027
  3. Market Estimates & Forecast, by End-Use Industry, 2020-2027
  4. Turkey
  5. Israel
  6. South Africa
  7. GCC
  8. Rest of the Middle East & Africa
3. Latin America
  1. Market Estimates & Forecast, 2020-2027
  2. Market Estimates & Forecast, by Type, 2020-2027
  3. Market Estimates & Forecast, by End-Use Industry, 2020-2027
  4. Brazil
  5. Argentina
  6. Mexico
  7. Rest of Latin America
Competitive Landscape
1. Introduction
10.2 Market Strategy Analysis
1. Key Development Analysis
(Expansions/Mergers & Acquisitions/Joint Ventures/New Product Developments/Agreements/Investments)
Company Profiles
1. BASF SE
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
11.2 Tosoh Corporation
1. Company Overview
  1. Financial Overview
  2. Product/Business Segment Overview
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
2. Dow
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
11.4 Huntsman International LLC
1. Company Overview
  1. Financial Overview
  2. Product/Business Segment Overview
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
2. Covestro AG
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
3. LANXESS
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
4. The Lubrizol Corporation
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
5. Trelleborg
  1. Company Overview
  2. Financial Overview
  3. Product/Business Segment Overview
  4. Key Developments
  5. SWOT Analysis
  6. Key Strategies
11.9 Herikon
1. Company Overview
  1. Financial Overview
  2. Product/Business Segment Overview
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
11.10 Argonics, Inc
1. Company Overview
  1. Financial Overview
  2. Product/Business Segment Overview
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
11.11 VCM Polyurethanes Pvt. Ltd
1. Company Overview
  1. Financial Overview
  2. Product/Business Segment Overview
  3. Key Developments
  4. SWOT Analysis
  5. Key Strategies
12. Appendix
List of Tables and Figures
1. LIST OF TABLES
2. Table 1 Global Polyurethane Elastomers Market, by Region, 2020-2027
3. Table 2 North America: Polyurethane Elastomers Market, by Country, 2020-2027
4. Table 3 Europe: Polyurethane Elastomers Market, by Country, 2020-2027
5. Table 4 Asia-Pacific: Polyurethane Elastomers Market, by Country, 2020-2027
6. Table 5 Middle East & Africa: Polyurethane Elastomers Market, by Country, 2020-2027
7. Table 6 Latin America: Polyurethane Elastomers Market, by Country, 2020-2027
8. Table 7 Global Polyurethane Elastomers Market, for Type, by Region, 2020-2027
9. Table 8 North America: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
10. Table 9 Europe: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
11. Table 10 Asia-Pacific: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
12. Table 11 Middle East & Africa: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
13. Table 12 Latin America: Polyurethane Elastomers Market, for Type, by Country, 2020-2027
14. Table 13 Global Polyurethane Elastomers Market, for End-Use Industry, by Region, 2020-2027
15. Table 14 North America: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027
16. Table 15 Europe: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027
17. Table 16 Asia-Pacific: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027
18. Table 17 Middle East & Africa: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027
19. Table 18 Latin America: Polyurethane Elastomers Market, for End-Use Industry, by Country, 2020-2027
20. Table 19 Global Type Market, by Region, 2020-2027
21. Table 20 Global End-Use Industry Market, by Region, 2020-2027
22. Table 21 North America: Polyurethane Elastomers Market, by Country, 2020-2027
23. Table 22 North America: Polyurethane Elastomers Market, by Type, 2020-2027
24. Table 23 North America: Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
25. Table 24 Europe: Polyurethane Elastomers Market, by Country, 2020-2027
26. Table 25 Europe: Polyurethane Elastomers Market, by Type, 2020-2027
27. Table 26 Europe: Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
28. Table 27 Asia-Pacific: Polyurethane Elastomers Market, by Country, 2020-2027
29. Table 28 Asia-Pacific: Polyurethane Elastomers Market, by Type, 2020-2027
30. Table 29 Asia-Pacific: Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
31. Table 30 Middle East & Africa: Polyurethane Elastomers Market, by Country, 2020-2027
32. Table 31 Middle East & Africa: Polyurethane Elastomers Market, by Type, 2020-2027
33. Table 32 Middle East & Africa: Polyurethane Elastomers Market, by End-Use Industry, 2020-2027
34. Table 33 Latin America: Polyurethane Elastomers Market, by Country, 2020-2027
35. Table 34 Latin America: Polyurethane Elastomers Market, by Type, 2020-2027
36. Table 35 Latin America: Polyurethane Elastomers Market, by End-Use Industry, 2020-2027 LIST OF FIGURES
37. FIGURE 1 Global Polyurethane Elastomers Market Segmentation
38. FIGURE 2 Forecast Methodology
39. FIGURE 3 Porter’s Five Forces Analysis of Global Polyurethane Elastomers Market
40. FIGURE 4 Supply Chain Analysis of Global Polyurethane Elastomers Market
41. FIGURE 5 Share of Polyurethane Elastomers Market, by Country, 2020 (%)
42. FIGURE 6 Global Polyurethane Elastomers Market, 2020-2027
43. FIGURE 7 Sub-Segments of Type
44. FIGURE 8 Global Polyurethane Elastomers Market Size, by Type, 2020 (%)
45. FIGURE 9 Share of Global Polyurethane Elastomers Market, by Type, 2020-2027
46. FIGURE 10 Sub-Segments of End-Use Industry
47. FIGURE 11 Global Polyurethane Elastomers Market Size, by End-Use Industry, 2020 (%)
48. FIGURE 12 Share of Global Polyurethane Elastomers Market, by End-Use Industry, 2020-2027

Polyurethane Elastomers Market Segmentation

Market Segmentation Overview

Detailed segmentation data will be available in the full report
Comprehensive analysis by multiple parameters
Regional and country-level breakdowns
Market size forecasts by segment

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