Total polyurethane products production in Asia Pacific was 9.83Mt in 2012 compared with 6.94Mt in 2009, according to a new report from UK-based IAL Consultants.
By 2017, IAL estimates this figure will be 15.08Mt, equivalent to an average growth of 8.9%/yr for the next five years.
China will remain the largest market by far but growth is likely to be strongest in India, which will trend around 13% yr-on-yr over the forecast period.
At 3.1Mt/yr (about 31% of the market) in 2012, elastomers account for the largest share of polyurethane production in Asia Pacific, followed by coatings at 22% and flexible foam at 21%. Polyurethane binder and sealant production remains negligible in the region compared to the other segments. Total production of flexible polyurethane foam was estimated at 2.1Mt.