Middle-East And Africa Polyurethane Market Size Analysis, Size, Share, Growth, Trends And Forecast 2023-2033

(MENAFN- America News Hour)

The polyurethane market in Middle-East and Africa is expected to witness a healthy growth, at an estimated CAGR of over 5%, in terms of volume, over the forecast period. The major factors driving the growth of the polyurethane market are the growing requirement of thermal insulation from the electronics and appliances industry, and rising demand from the building and construction industry. On the flipside, volatile raw material prices and toxic nature of polyurethane coatings are expected to hinder the growth of market.
– Growing awareness of the Energy Efficiency Policy related to buildings in the Middle Eastern region is likely to act as an opportunity for the market growth, in the future.

Click Here to Download Sample Report

– The foams segment was estimated to be the largest and accounted for 50% of the market.
– The building and construction segment accounted for the largest share, with 30%, of the market.
Key Market Trends
Increasing Demand from the Building and Construction Industry

– Polyurethane finds its largest application in the building and construction industry, where it is used in various household, commercial, and industrial applications. With its excellent strength-to-weight ratio, insulation properties, durability, and versatility, polyurethane is frequently used in building and construction applications.
– The building and construction sector accounts for about 30% of polyurethanes consumption in the Middle East & African region, and represents a market for the diverse portfolio of polyurethane products.
– There are many benefits of using rigid polyurethane foam insulation, which include its energy efficiency, high performance, versatility, thermal/mechanical performance, and its eco-friendly nature. Rigid polyurethane foams are widely applied as wall and roof insulation, insulated panels, and gap fillers for the space around doors and windows. Rigid foam adhesives are used in some window and door installations, as well as in manufactured housing.
– Some rigid polyurethane foams are applied on-site, to seal gaps and cover irregular shapes. Such foams include spray, pour-in-place, and one-component foams. Spray polyurethane foams form a seamless layer of insulation, fill gaps and seams during application, and cover irregular shapes that are hard to insulate with rigid boards. This reduces drafts considerably, while creating quiet buildings. For durability and stability, rigid polyurethane foam-cored entry doors and garage doors are available in various finishes and styles.
– Thus, the aforementioned factors are expected to boost the market for polyurethanes, during the forecast period.
Saudi Arabia to Dominate the Market
– Saudi Arabia is an oil-based economy, with strong governmental control over all the major economic activities. The country has more than 15% of global oil reserves, and is one of the leading oil exporters, globally. Additionally, the country is expected to report the largest gains in public spending, financed by the National Development Funds and the Public Investment Fund.
– Government and private investments in different sectors in the country are expected to lead to an increase in industrial and commercial building, and construction activity. An amount of USD 800 billion, for more than 5,200 construction projects, is being invested in Saudi Arabia, which is GCC's largest and most populous country.

Request For The Sample Report Here:

– In addition, the country plans to promote tourism industry, and has 202 hotel projects (60,392 rooms) under construction.
– Moreover, with the construction of residential houses, hotels, medical cities, the demand and, thereby, the production of furniture, and electrical and electronic products are projected to increase in the coming years.
– Therefore, the growth in various end-user industries, such as construction, automotive, and packaging, is anticipated to provide huge opportunities for the growth of the polyurethane market in the country, during the forecast period.
Competitive Landscape
The Middle-East and African polyurethane market is highly consolidated, with a presence of only few players in the market. The top five players in the market control nearly 90% of the market share. Major players in the market include Covestro AG, BASF SE, Dow, and Huntsman International LLC, among others.

1.1 Study Assumptions
1.2 Scope of the Report
4.1 Drivers
4.1.1 Growing Requirement of Thermal Insulation from the Electronics and Appliances Industry
4.1.2 Rising Demand from the Building and Construction Industry
4.2 Restraints
4.2.1 Volatile Raw Material Prices
4.2.2 Toxic Nature of Polyurethane Coatings
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Raw Material Analysis

Request For Full Report middle-east and africa polyurethane market

About SDKI:

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.