Numerous end-user applications boost the Microcellular Polyurethane Foam Market

Market overview:

The microcellular polyurethane foam market represented revenues of US$ 5.2 billion in 2018 and is expected to generate US$ 8.1 billion by 2026.

The microcellular polyurethane foam is a flexible, open-cell and closed-cell urethane foam that is very economical and has excellent compressive strength. The foam has good cushioning, sealing and vibration control due to the shallow compression properties. In addition, the open-cell structure allows gas and vapours to pass through the material.

Recent developments:

The United States and China dominated the growth of the microcellular polyurethane foam market with a revenue share of more than 20% and 8% in 2018. The key players adopted several strategies, such as launch, agreement, acquisition and expansion of new products to maintain intense competition in the market.

Market Drivers and Restraints:

The factors that drive the growth of the microcellular polyurethane foam market are its applications in automotive, aerospace and construction industries. The use of microcellular foams in various parts of motor vehicles, airplanes, medical services and insulation in residential installations has led to an increase in their demand. Also, the rise in consumer spending in emerging economies drives the growth of the microcellular polyurethane foam market.

However, volatile prices of raw materials hamper the growth of the microcellular polyurethane foam market as price fluctuations influence the production process. Besides, the environmental impact related to the raw materials used is strictly regulated by many governing bodies to reduce the carbon footprint. This limits the overall growth of the microcellular polyurethane foam market.

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Report Segmented as:

The microcellular polyurethane foam market is segmented according to type, application and region. The type segment forks in high-density foam and low-density foam. Low-density foam is also classified as semi-rigid and others. Low-density foams dominate the market.

The application segment is divided into automotive, building and construction, electronics, medical, aerospace and others. The automotive sector dominates the market and is expected to grow faster.

Geographical Segmentation:

Based on geography, the global microcellular polyurethane foam market has been segmented in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. USA, Canada, Germany, France, Italy, Spain and the United Kingdom boost the global market for microcellular polyurethane foam. Brazil, Mexico, Argentina, the UAE and Qatar are expected to increase the market demand in the Middle East and Africa and Latin America. The growing number of car manufacturers is expected to boost the automotive segment since microcellular polyurethane foam is widely used in automobiles to increase the comfort, safety, quality and visual appeal of vehicles.

Key market players:

The key players in the microcellular polyurethane foam industry are Dow Inc., BASF SE, SAINT-GOBAIN, Evonik Industries, Huntsman Corporation, INOAC Corporation, Mearthane Products Corporation, Rubberlite Inc., Rogers Corporation and Kuraray Co., Ltd.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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