January 31, 2023

As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the  industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.

The global urethane rubber market size is anticipated to inflate on account of the several beneficial properties of this rubber variant, observes Fortune Business Insights™ in its report titled “Urethane Rubber Market, 2022-2029”.

Urethane rubber has great elasticity, sturdy build, strength, and is durable. It is also heat-resistant and radiation-resistant, along with being abrasion-free. Furthermore, it is resistant to ozone, chemicals, and oxygen attacks and makes for an effective great sound-proof barrier. Urethane offers wide-ranging benefits, specifically in the food and beverage industry, where thermal stress is the primary issue. Areas with scalding water or excessive heat usage and areas of cooling and refrigeration need a single flooring solution to fit in both together. These properties also make this rubber an efficient alternative to metals, which will emerge as one of the top growth drivers for this market during the forecast period.

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Market Segmentation

On the basis of type, the market is divided into self-release urethane rubber, non-self-release urethane rubber, waterproof urethane rubber, and no-linear-shrinkage urethane rubber. Based on application, the market is segregated into cement, gypsum, waxes, ceramic, and pastes. By region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Highlights of the Report

The report offers an in-depth analysis of the market. A holistic evaluation of the current market trends and future opportunities for investors is provided in the report. Possible threats and restraints and driving factors of the market are also shared in the report. Furthermore, tangible insights about the competitive landscape and key players and their prominent strategies are incorporated into the report.

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Regional Insights

Increasing Adoption of Urethane Rubber in Cement to Aid the Asia Pacific Market Growth

Asia Pacific is expected to dominate the urethane rubber market share throughout the forecast period. The growth is a result of the surging demand for this rubber in cement applications, underpinned by the sterling growth in the region’s construction industry. For instance, India and China are envisaged to lead the global construction output through 2030, according to a report by Oxford Economics.

Europe is poised to make notable progress and holds the second-largest share in the market owing to the rising demand and usage of urethane-based rubbers in the ceramic industry in leading countries such as the UK and Germany. North America is anticipated to showcase potential growth on account of the increasing production of gypsum.

Driving Factors

Substitution of Metals with Urethane Rubber to Propel Market Growth

Urethane rubber is a tough-build product, making it an excellent alternative for metals in specific applications. It has a heavy load-bearing capacity in compression and tension and thinner, lightweight components can be produced with this product. The ease in cutting off this rubber is comparable to that of plastic or metal. Moreover, the product is economical and can be handled easily, making it cost-efficient as well. These factors are slated to propel the growth of this market in the foreseeable future.

On the flip side, this rubber is sensitive to high moisture content. Prolonged exposure to moisture can lead to the formation of bubbles, which may adversely affect the shelf life of the product. These drawbacks are likely to hamper the market’s growth.

Competitive Landscape

New Launches and Acquisitions by Prominent Players to Spur Market Growth

Key players are adopting different strategies to maintain their lead in the global market. Launching products, signing partnership agreements, and acquiring fellow competitors are dominant strategies employed by prominent companies to solidify their market position. For example, Pennsylvania-based Smooth-On, Inc. acquired Accu-Cast, a mould-making material manufacturer based in Bend, Oregon.

Industry Developments

September 2019: Smooth-On, Inc. announced the successful acquisition of the New York City-based Holden’s Latex Corp. This takeover will allow Smooth-On to rapidly expand its portfolio and widen its offerings.

List of Key Players Covered in the Urethane Rubber Market Report

  • Smooth-On, Inc.
  • Polytek® Development Corp.
  • Bentley Advanced Materials
  • Reynolds Advanced Materials
  • Taiwan PU Corporation
  • Rahco Rubber, Inc.
  • Expressions-LTD
  • S. Composites, Inc.
  • Raw Material Suppliers
  • MISUMI Corporation
  • Tap Plastics
  • Frank Lowe

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