Global PU demand to rise to 24 million tons by 2020

Research and Markets in its latest report, "Global Polyurethanes Market Segmented by Application, Industry and Geography Trends and Forecasts (2015-2020)" cited healthy growth for the global PU market which is expected to be sustained up to the forecast period ending 2020.

The repot states that global PU market demand is set to increase from 17 million tons to 24 million tons during 2014-2020. The global market has grown during the past few years, driven by cost effectiveness and the adaptability of polyurethane foams in major end-user industry applications.

The market is expected to register a healthy growth on account of the growth in key end-user industries. The Asia-Pacific market is a major consumer with the highest usage in furniture and construction industries. In the financial year 2013, U.S. and China shared 37% of the demand. The consumption and revenue generation was witnessed to be high in the APAC region, followed by the Western European region.