Polyurethane Elastomers Market Size, Share, Growth Analysis, By Material Type(Thermoset polyurethane elastomer and Thermoplastic polyurethane elastomer), By Region - Industry Forecast 2024-2031

Polyurethane Elastomers Market Driver

Increase in automobile production

• Polyurethane elastomers are primarily used in the automotive industry for the production of tyers and body panels of an automobile. Its properties such as high tensile strength, along with resistance capacity and abrasion make them ideal for use in such automotive applications. An increase in production from the automotive industry is expected to increase the demand for polyurethane elastomers. This is expected to accelerate the growth of the market.

Increasing demand from the construction industry

• Polyurethane elastomers are commonly used in the construction industry, especially for filling gaps in structures. Polyurethane elastomers are commonly coated in adhesive and sealing materials and are used in building structures for a variety of purposes including roofing membranes, waterproofing, carpets, window and weather seals, wall coverings, and other related uses.

Polyurethane Elastomers Market Restraint

Fluctuating prices of raw materials

• Some of the raw materials for polyurethane elastomers are obtained from crude oil. The uncertainty of the price of crude oil also increases the price of raw materials required for the production of polyurethane elastomers. Hence, such instability and fluctuating prices of raw materials may hamper the growth of the market.