The market report aims to provide an overview of the industry through detailed market segmentation. Moreover, the report also offers thorough information regarding the overview and scope of the market, along with the key drivers, restraints, and emerging trends in the market. It is designed to include both quantitative and qualitative aspects of the industry for each region and country participating in the study.
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Key Players in the GCC Polyurethanes Market include:
Wanhua Chemical Group Co.,Ltd., Huntsman International LLC, DeltaChem Middle East LLC, Crain Communications, Inc., Covestro AG, BASF SE, The Dow Chemical Company, Baalbaki Chemical Industries, Mitsui Chemicals Inc., and HANNECARD Saudi among others.
Key Drivers of the GCC Polyurethanes Market:
The GCC polyurethanes market is expected to witness strong demand during the forecast period. This is mainly due to the various remarkable advantages offered by it such as versatility and unique structural features including abrasion resistance, high flexural strength, high tear resistance, good electrical insulating properties, extreme temperature resistance, high tensile strength, and better color stability in outdoor applications. In addition to this, the growing usage of polyurethanes in a wide variety of consumer and industry applications including household furniture, automotive parts, electrical potting compounds, shoes, packaging plastics, adhesives, coatings, sealants, water heaters, refrigerators, insulations for tanks, pipes, and freezers, among other applications are is further surging the growth of the GCC Polyurethanes market size.
The accelerating demand for polyurethane, especially in the building and construction sector due to its high durability with low thermal conductivity and the capability to withstand external impacts, is projected to energize the market’s demand. They are widely used in insulating and air-sealing homes and buildings, for the protection of building against severe weather conditions, decreases air leakage, and reduced greenhouse gas emissions, which in turn, helps in decreasing the total utility bills and gives enhanced indoor air quality. On the other edge of the spectrum, the fluctuating raw material costs and wide availability of substitute products such as fiberglass and polystyrene foam are the two major factors that are hampering the growth of the market.
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Segmentation of the GCC Polyurethanes Market:
The market report offers future growth drivers and competitive landscape. This will be beneficial for buyers of the market report to gain a clear view of the important growth and subsequent market strategy.
On the basis of Raw Material:
- MDI (Methylene diphenyl Diisocyanate)
- TDI (Toluene Diisocyanate)
On the basis of Product:
- Flexible foam
- Rigid foam
- Adhesive & sealants
On the basis of End User:
- Building & construction
- Automotive & transportation
- Bedding & furniture
- Appliances & white goods
On the basis of Countries:
- Saudi Arabia
- Rest of GCC
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