According to the recent study the polyurethane elastomer market is projected to reach an estimated $12.0 billion by 2028 from $9.0 billion in 2023, at a CAGR of 6% from 2023 to 2028. Growth in this market is primarily driven by growing consumption of footwear and increasing usage of polyurethane elastomer in the production of tires and body panels of automobiles.