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The polyurethane elastomer market size is forecast to increase by USD 5.78 billion at a CAGR of 7.08% between 2023 and 2028. The market is experiencing significant growth due to several key factors. One of the primary drivers is the increasing consumption of polyurethane elastomers in the automotive industry, where they are used in various applications such as seating, insulation, and wheel systems. Another trend contributing to market growth is the burgeoning construction industry, which utilizes polyurethane foam insulation for energy efficiency and sound absorption in buildings. Additionally, polyurethane's role in footwear and electronics, providing durable and high-performance materials, further supports market expansion. The growth is also influenced by competition from silicone materials, which are used in similar applications but offer different properties. However, the market is facing challenges from the volatility in prices of raw materials, particularly crude oil and natural gas, which are essential feedstocks for polyurethane production. Despite these challenges, the market is expected to continue growing due to its versatility, high performance, and wide range of applications in various industries.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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