Polyurethane Elastomers Market Size, Share, and Growth Analysis, By Type, By Application, By End-User Industry, By Region - Industry Forecast 2025-2032
Polyurethane Elastomers Market size was valued at USD 4.64 billion in 2023 and is poised to grow from USD 4.84 billion in 2024 to USD 6.84 billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
The market for polyurethane elastomers is expanding due to their versatile physical properties, making them suitable for diverse applications such as footwear soles, seals, gaskets, and automotive components like bearings and pulleys. The automotive industry is a key driver of this growth, particularly in emerging markets, as the sector seeks advanced, lightweight materials to enhance fuel efficiency and safety. Additionally, there is a rising demand for polyurethane elastomers in the footwear sector, spurred by consumer preferences for lightweight, comfortable, and durable options for various occasions, including athletics and casual wear. However, the market faces challenges from fluctuations in crude oil prices, which can impact production costs and overall growth potential in the sector.
Top-down and bottom-up approaches were used to estimate and validate the size of the Polyurethane Elastomers market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Polyurethane Elastomers Market Segments Analysis
Global Polyurethane Elastomers Market is segmented by Type, Application, End-User Industry and region. Based on Type, the market is segmented into Thermoplastic Polyurethane Elastomers and Thermosetting Polyurethane Elastomers. Based on Application, the market is segmented into Automotive, Building & Construction, Footwear, Electronics, Medical and Other Applications. Based on End-User Industry, the market is segmented into Transportation, Construction, Consumer Goods, Industrial and Other End-User Industries. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Polyurethane Elastomers Market
The Polyurethane Elastomers market is primarily driven by their extensive application in the automotive sector, particularly in the manufacturing of tires and body panels. Their remarkable properties, including high tensile strength, abrasion resistance, and durability, make them particularly suitable for these automotive components. As the automotive industry continues to ramp up production, the demand for polyurethane elastomers is anticipated to surge, consequently propelling market growth. This burgeoning demand stems from the need for materials that can withstand the rigors of modern automotive applications, underscoring the pivotal role of polyurethane elastomers in enhancing the performance and longevity of vehicles.
Restraints in the Polyurethane Elastomers Market
The polyurethane elastomers market faces significant restraints due to the reliance on crude oil as a source for some of its raw materials. The volatility in crude oil prices directly impacts the cost of these essential materials, leading to unpredictable expenses in production. This instability in price can hinder the expansion of the market, as manufacturers may struggle with budgeting and cost control. Consequently, the fluctuations in raw material costs present a challenge that could negatively affect the overall growth and profitability of the polyurethane elastomers sector, creating an environment of uncertainty for stakeholders involved in this industry.
Market Trends of the Polyurethane Elastomers Market
The Polyurethane Elastomers market is experiencing a robust growth trend, primarily driven by its significant application in the footwear industry. With the increasing consumer preference for shoes that offer high tensile strength, flexibility, and durability across a wide temperature range, manufacturers are actively harnessing advanced formulations to meet this demand. As foot traffic in casual, athletic, and regular occasion footwear rises, the need for lightweight and comfortable designs becomes paramount. This shift in consumer behavior highlights a market opportunity for innovative elastomer solutions, thereby solidifying polyurethane elastomers as a key player in the evolving landscape of footwear manufacturing globally.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Case Studies
Regulatory Landscape
Patent Analysis
Global Polyurethane Elastomers Market Size by Type & CAGR (2025-2032)
Market Overview
Thermoplastic Polyurethane Elastomers
Thermosetting Polyurethane Elastomers
Global Polyurethane Elastomers Market Size by Application & CAGR (2025-2032)
Market Overview
Automotive
Building & Construction
Footwear
Electronics
Medical
Other Applications
Global Polyurethane Elastomers Market Size by End-User Industry & CAGR (2025-2032)
Market Overview
Transportation
Construction
Consumer Goods
Industrial
Other End-User Industries
Global Polyurethane Elastomers Market Size & CAGR (2025-2032)
North America (Type, Application, End-User Industry)
US
Canada
Europe (Type, Application, End-User Industry)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Type, Application, End-User Industry)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Type, Application, End-User Industry)
Brazil
Rest of Latin America
Middle East & Africa (Type, Application, End-User Industry)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
BASF SE (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Dow Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Covestro AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Huntsman Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsui Chemicals, Inc. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
DuPont de Nemours, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Tosoh Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Wanhua Chemical Group Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Lubrizol Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
LANXESS AG (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Coim Group (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
American Urethane, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Era Polymers Pty Ltd (Australia)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Argonics, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Gallagher Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Chemtura Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
P+S Polyurethan-Elastomere GmbH & Co. KG (Germany)