Rising demand for sustainable building materials drives European polyurethane market development

Source - Global Polyurethane Network


According to reports, the European polyurethane market value is expected to reach US$26.24 billion by 2024. The rising demand for sustainable building materials has become an important driving force for the development of the industry.

The development of terminal industries such as construction, automobiles, transportation, furniture and bedding is the main driving force of the polyurethane industry. It is expected that the continuous development of the construction industry will be the main driving force. The construction industry in Eastern European countries such as Hungary, Poland, and Slovakia will have great development, thereby driving the rise in demand for rigid polyurethane foam.

Rigid foam consumes the most, accounting for 30% of the European market in 2015. Financial incentives to reduce energy consumption will promote the development of rigid foam.

In 2015, the European polyurethane market size was 4.91 million tons, and it is expected to reach 6.9 million tons in 2024, with a compound annual growth rate of 3.8%.

Polyurethane is the most consumed in the construction industry, accounting for more than 35% of the total in 2015. It is expected that the electrical appliance field will have the largest growth, at 5.3%.

Germany had the largest demand for polyurethane in 2015, accounting for an estimated 17.5% of the market share. As a major automobile production and export country, Germany has the largest demand for rigid foam. In 2015, the demand for rigid foam accounted for 30% of polyurethane.