The Global Polyurethane Raw Material Market was valued at USD 75.8 Billion in 2025 and is projected to reach USD 108.3 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2030). This growth is being driven by escalating demand from the construction, automotive, and furniture sectors, alongside a significant push towards bio-based and sustainable polyurethane solutions across global manufacturing industries.

As the polyurethane industry evolves to meet demands for energy efficiency, comfort, and sustainability, the focus intensifies on the core material suppliers who are driving innovation, supply chain resilience, and environmentally conscious production. In this blog, we profile the Top 10 Companies in the Polyurethane Raw Material Industry—a blend of chemical giants, specialized producers, and sustainability pioneers shaping the foundation of countless end-use products.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: MDI, TDI, Polyols, Specialty Additives

BASF is the world’s leading chemical company and a dominant force in the polyurethane raw material market. Its comprehensive portfolio includes a wide range of isocyanates and polyols that serve the automotive, construction, and appliance industries. The company’s global production network ensures a reliable supply for manufacturers worldwide.

Sustainability Initiatives:

• Development of biomass-balanced polyols

• Water-based polyurethane dispersion technologies

• Committed to carbon-neutral growth by 2030

Download FREE Sample Report: Polyurethane Raw Material Market – View in Detailed Research Report

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9️⃣ 2. Covestro AG

Headquarters: Leverkusen, Germany
Key Offering: MDI, TDI, Polyether Polyols, Polycarbonate Polyols

Formerly part of Bayer, Covestro is a global leader in high-tech polymer materials, including premium polyurethane raw materials. The company operates large-scale production facilities across Europe, North America, and Asia, serving diverse applications from automotive seating to building insulation.

Sustainability Initiatives:

• Pioneering CO2-based polyols production

• Circular economy integration across product lifecycles

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8️⃣ 3. The Lubrizol Corporation

Headquarters: Wickliffe, Ohio, USA
Key Offering: Specialty TPU, Polyurethane Dispersions, Additives

Lubrizol, a Berkshire Hathaway company, is a major supplier of thermoplastic polyurethanes (TPU) and advanced polyurethane systems. Its products are critical for applications requiring high performance, such as automotive components, wire and cable jacketing, and footwear.

Sustainability Initiatives:

• Bio-based TPU developments for sustainable consumer goods

• Advanced recycling technologies for polyurethane waste streams

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7️⃣ 4. Huntsman Corporation

Headquarters: The Woodlands, Texas, USA
Key Offering: MDI, Polyether Polyols, Polyurethane Systems

Huntsman’s Polyurethanes division is a key global supplier of isocyanates and polyols, with a strong focus on differentiated systems for insulation, adhesives, and elastomers. The company’s technical expertise supports customers in developing tailored solutions for specific application requirements.

Sustainability Initiatives:

• Innovations in low-emission MDI technologies

• Renewable content integration in polyol production

Download FREE Sample Report: Polyurethane Raw Material Market – View in Detailed Research Report

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6️⃣ 5. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Polyether Polyols, Isocyanates, Polyurethane Systems

Dow is a foundational player in the polyurethane industry, offering a broad spectrum of polyols and systems for flexible and rigid foam applications. The company’s materials are essential for furniture, bedding, construction, and refrigeration markets globally.

Sustainability Initiatives:

• Bio-based polyol platforms derived from renewable sources

• Partnerships for chemical recycling of polyurethane waste

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5️⃣ 6. Wanhua Chemical Group Co., Ltd.

Headquarters: Yantai, China
Key Offering: MDI, TDI, Polyether Polyols, Specialty Amines

Wanhua Chemical has grown to become the world’s largest MDI producer, with significant global manufacturing capacity. The company’s competitive pricing and scale have made it a crucial supplier to the Asian market and beyond, influencing global polyurethane raw material dynamics.

Sustainability Initiatives:

• Investments in energy-efficient production technologies

• Water-saving processes in polyurethane manufacturing

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4️⃣ 7. Mitsui Chemicals, Inc.

Headquarters: Tokyo, Japan
Key Offering: MDI, TDI, Polyols, Functional Polyurethanes

Mitsui Chemicals is a leading Asian producer of polyurethane raw materials, with advanced technologies for high-performance applications. The company serves the automotive, electronics, and packaging industries with specialized polyurethane solutions.

Sustainability Initiatives:

• Development of biomass-derived polyurethane materials

• Closed-loop recycling initiatives for polyurethane products

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3️⃣ 8. Recticel NV/SA

Headquarters: Brussels, Belgium
Key Offering: Flexible Foam, Specialty Foams, Polyurethane Systems

Recticel is a European specialist in polyurethane foams and systems, with strong positions in bedding, furniture, and automotive interiors. The company’s vertical integration includes sophisticated polyurethane formulation capabilities.

Sustainability Initiatives:

• Plant-based polyol integration in foam production

• Energy recovery systems in manufacturing operations

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2️⃣ 9. DIC Corporation

Headquarters: Tokyo, Japan
Key Offering: Polyester Polyols, Polyether Polyols, Specialty Polyurethanes

DIC Corporation produces a diverse range of polyurethane raw materials, with particular strength in polyester polyols for coatings, adhesives, and elastomers. The company’s global presence supports customers across multiple industrial sectors.

Sustainability Initiatives:

• Bio-based polyol development from sustainable feedstocks

• Eco-friendly polyurethane dispersions for green coatings

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1️⃣ 10. LANXESS AG

Headquarters: Cologne, Germany
Key Offering: MDI, TDI, Polyurethane Additives, Specialty Elastomers

LANXESS is a leading specialty chemicals company with significant involvement in polyurethane raw materials, particularly through its high-performance additives and specialty isocyanates. The company’s products enhance durability and performance in demanding applications.

Sustainability Initiatives:

• Sustainable product portfolio expansion

• Carbon reduction targets across manufacturing operations

Get Full Report Here: Polyurethane Raw Material Market – View in Detailed Research Report

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🌍 Outlook: The Future of Polyurethane Raw Materials Is Sustainable and High-Performance

The polyurethane raw material market is undergoing a significant transformation. While conventional petroleum-based products continue to dominate, the industry is rapidly advancing toward bio-based alternatives, circular economy models, and enhanced performance characteristics.

📈 Key Trends Shaping the Market:

• Accelerated adoption of bio-based and recycled content polyols

• Regulatory pressure driving low-VOC and environmentally friendly formulations

• Digitalization of supply chains and manufacturing processes

• Growing demand for high-performance materials in electric vehicles and renewable energy

Get Full Report Here: Polyurethane Raw Material Market – View in Detailed Research Report

The companies listed above are not only supplying essential industrial materials—they’re pioneering the sustainable transformation of global manufacturing and consumer products.