The polyurethane (pu) elastomers market was valued at USD 15.4 billion in 2021 and is expected to reach a value of USD 21.7 billion by 2028, growing at a CAGR of 5.1% during the forecast period 2022 to 2028. The global market report provides a detailed overview of the market, which can be segmented by type and end-user. The Polyurethane (PU) Elastomers market has been segmented into Thermoset PU Elastomer and Thermoplastic PU Elastomer (TPU). The Thermoset PU Elastomer segment is likely to be the largest and fastest-growing in terms of types. The Polyurethane (PU) Elastomers are segmented on end-users into Transportation, Industrial, Building and Construction, Mining Equipment, Medical, Agriculture, Oil & Gas, and Electrical & Electronics. According to precision business insights, the Transportation segment is predicted to register the fastest growth rate during the forecast period.
In December 2020, BASF collaborated with Meiban to create the Elastollan soft-touch feel thermoplastic PU series that enables new design possibilities.