The Global Polyurethane Foam Market is estimated to reach USD 77 Billion by 2024 at a CAGR of 7.1%.
Polyurethane is referred to as the special class of polymers which are obtained through a synthetic blend of organic compounds. Polyurethane foams are the foams which are obtained through a reaction between the polyol and diisocyanate through continuous reaction process or batch process. These foams are known for their versatility and thus are used in car cushioning and automotive interiors, mattresses, bedding and furniture, carpet, medical dressings, soundproofing systems, thermal insulation, clothing and many more application areas.
Polyurethane Foam Market: Drivers & Restraints
Growing Demand from Construction and Automotive Application
The polyurethane foam market is growing on the grounds of rising demand for the polyurethane foam from the end-user industries especially from the building and construction and automotive sector. Rising spending on construction activities owing to higher demand for a residential apartment, increasing per capita income, and ongoing urbanization are expected to fuel the growth of the product market. Shifting consumer taste towards comfortable, light and better mattress and automotive seats are factors projected to spur the market demand higher.
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Emergence of Bio-based Polyurethane Foam
Bio-based polyurethane foams are produced from the Natural oil polyols (NOPs) and sugars, which possess similar characteristics and properties that of conventional polyurethane foam. Due to this, it is used in automotive, consumer goods, construction and other applications, which is anticipated to boost the growth of PU foam market. Additionally, favourable government support is also boosting the market growth.
Stringent Emission Standards Imposed On PU Foams Production
The PU foam market is experiencing growth at a remarkable pace, however, the strict emission regulation imposed by the regulatory authorities is anticipated to hinder the market growth. Regulatory authorities such as National Emission Standards for Hazardous Air Pollutants (NESHAP) regulated the use of methylene chloride in order to reduce air pollution. Methylene chloride is extensively used as an auxiliary blowing agent in the production of PU foams and regulation on methylene chloride usage is likely to impact market growth.
Polyurethane Foam Market: Key Segments
- On the basis of Type, the market is segmented into: Rigid PU Foam, Flexible PU Foam, and Spray Foam
- On the basis of Application, the market is segmented into: Transport and Automotive, Sports and Leisure, Consumer Goods, Construction, Healthcare, Electronics, Packaging, and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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List of the leading companies operating in the Polyurethane Foam market include:
- BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Dow Inc.
- Covestro AG
- I. Du Pont De Nemours
- Arkema S.A
- NMC Group
- Armacell GmbH
- Nitto Denko Corporation
- Lanxess AG
- Bayer AG
- Other Key Companies
Polyurethane Foam Market: Report Scope
The report on the polyurethane foam market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Polyurethane Foam Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Polyurethane Foam Market, by Type
- Rigid PU Foam
- Flexible PU Foam
- Spray Foam
Polyurethane Foam Market, by Application
- Transport and Automotive
- Sports and Leisure
- Consumer Goods
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Polyurethane Foam Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
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