PUBLISHER: Grand View Research | PRODUCT CODE: 1575266
PUBLISHER: Grand View Research | PRODUCT CODE: 1575266
The europe polyurethane market size is expected to reach USD 27.5 billion by 2030, registering to grow at a CAGR of 4.0% from 2024 to 2030 according to a new report by Grand View Research, Inc. Growing need for sustainable construction in the region is a key driving factor for industry growth. The industry is primarily driven by growth in end-use industries such as construction, automotive & transportation and furniture & bedding. Reinforcement of construction industry in the European region is anticipated to be the key driving factor over the forecast period. Eastern European countries such as Hungary, Poland and Slovakia are anticipated to witness significant growth regarding construction spending which in turn is expected to drive rigid polyurethane (PU) foam demand.
Rigid foam was the highest consumed product and accounted for over 33.0% of the European market volume in 2023. EU regulations towards energy efficiency of households and financial incentives aimed at improving insulation and cutting down on energy costs is expected to drive the product's growth. It is also expected to witness the highest growth of 4.0% over the forecast period.