Market Introduction
The Middle East & Africa polyurethane market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Governments of various countries across the region are focusing on the nation's infrastructure development. National, state, and local governments in each country are spending high amounts of capital to meet these needs for good reason. The Secretariat for Infrastructure in the Planning Commission is involved in initiating policies that would ensure the time-bound creation of top-class infrastructure in the country. This infrastructure planning mainly focuses on power, dams, bridges, roads, and urban infrastructure development. The nation's infrastructure push comprises projects related to roads, ports, railways, and airports; projects in agriculture and renewable energy; and industrial and social infrastructure. Rigid polyurethane foams are known as the high-performance closed-cell plastics adopted in end-use industries, such as packaging, transportation, and industrial insulations and appliances, due to their structural stability, which further assists manufacturers to design thermally insulating products. Rigid foams possess higher mechanical strength, sound insulation properties, and thermal resistance. Therefore, they can be used in extreme weather conditions and harsh environments. The building and construction industry is major end user of rigid and sprays polyurethane foam. Due to various benefits such energy efficiency, versatility, high performance, thermal/mechanical performance, and environment-friendly nature, rigid polyurethane foam insulation is applied in a building.
In case of COVID-19, in Middle East & Africa, especially South Africa, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of polyurethane manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for polyurethane during the early months of 2020. Moreover, decline in the overall resin and polymer manufacturing activities has led to discontinuation of polyurethane manufacturing projects, thereby reducing the demand for polyurethane. Similar trend was witnessed in other Middle East & Africa countries, i.e., UAE, Morocco and Saudi Arabia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Market Overview and Dynamics
The polyurethane market in Middle East & Africa is expected to grow from US$ 1,653.05 million in 2021 to US$ 2,388.05 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Flexible polyurethane foam (FPF) influences people's lives in many ways; also, new applications are rolling out on a day-to-day basis. It is utilized as cushioning for a wide variety of consumer and commercial products such as furniture, carpet cushion, bedding, packaging, transportation, textiles, and fibers. The utilization of polyurethane is on the rise in this region since they offer benefits, including long life, reduction in weight, Resistance to Water, Oil & Grease, Electrical Properties, Wide Resiliency Range, Strong Bonding Properties, Performance in Harsh Environments, Mold, Mildew & Fungus Resistance, Color Ranges, and Economical Manufacturing Process. Also, the presence of some of the leading manufacturers in the Middle East and Africa region is further anticipated to lead to the growth of polyurethane in the region.
Key Market Segments
Based on product, the flexible foam segment accounted for the largest share of the Middle East & Africa polyurethane market in 2020. Based on application, the furniture and appliances segment accounted for the largest share of the Middle East & Africa polyurethane market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Middle East & Africa polyurethane market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Covestro AG, the Dow Chemical Company, Lubrizol Corporation, DIC Corporation, BASF SE, Mitsui Chemicals, Inc., Recticel NV, Huntsman Corporation, and Tosoh Corporation.
Reasons to buy report
Middle East & Africa Polyurethane Market Segmentation
Middle East & Africa Polyurethane Market -By Product
Middle East & Africa Polyurethane Market -By Application
Middle East & Africa Polyurethane Market – By Country
Middle East & Africa Polyurethane Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,653.05 Million |
| Market Size by 2028 | US$ 2,388.05 Million |
| CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Polyurethane Market is valued at US$ 1,653.05 Million in 2021, it is projected to reach US$ 2,388.05 Million by 2028.
As per our report Middle East & Africa Polyurethane Market, the market size is valued at US$ 1,653.05 Million in 2021, projecting it to reach US$ 2,388.05 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Middle East & Africa Polyurethane Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Polyurethane Market report:
The Middle East & Africa Polyurethane Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Polyurethane Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Polyurethane Market value chain can benefit from the information contained in a comprehensive market report.
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