Polyurethane Foam Market Size to Accelerate at a Rapid CAGR of 7.6% from 2017 - 2022
The polyurethane foam market has become a key part of various sectors in recent years due to the diverse applicability of polyurethane foam. The polyurethane foam market has gained demand from such diverse end use sectors as the construction industry, the automotive industry, and the packaging industry due to the favorable physical properties of polyurethane foam. Polyurethane foam is lightweight, which instantly puts it at an advantage against conventional materials in many end use sectors. In addition, polyurethane foam is chemically stable, flexible, and acts as an ideal insulating agent. The polyurethane foam market is thus likely to gain from the solid rise in demand from its numerous end use sectors over the 2017-2022 forecast period. According to Transparency Market Research, the global polyurethane foam market is likely to rise from US$51.4 bn to US$74 bn over the 2017-2022 forecast period. The strong growth prospects of the polyurethane foam market between 2017 and 2022 are illustrated in its robust 7.6% CAGR therein.
The global polyurethane foam market is segmented by product type into flexible and rigid polyurethane foam. Of these, flexible polyurethane foam is the dominant contributor to the global polyurethane foam market. The flexible polyurethane foam segment accounted for 50.2% of the global market in 2017, with a valuation of US$25.5 bn, and is likely to rise to a valuation of US$36 bn by 2022. The flexible polyurethane foam segment is expected to account for 50.6% of the global market by 2022, exhibiting a 7.2% CAGR over the 2017-2022 forecast period.
The information Presented in this Review is Based on Press-Release by TMR
Geographically, the report studies the performance of the polyurethane foam market in Japan, Asia Pacific except Japan, the Middle East and Africa, Europe, Latin America, and North America in order to present readers with a clear picture of how the market is likely to fare in various regions over the coming years. Of these, Asia Pacific except Japan is the dominant regional market for polyurethane foam, accounting for close to 40% of the global polyurethane foam market’s revenue in 2017. The Asia Pacific except Japan market for polyurethane foam is likely to gain 59 BPS in its share in the global polyurethane foam market over the 2017-2022 forecast period to reinforce its position as the dominant regional contributor to the global polyurethane foam market.