The global polyurethane foam market accounted for a value of USD 35.3 billion in 2019. Polyurethane market projected to register growth at a CAGR of 6.9% during forecast period.
COVID-19 has impacted the polyurethane foam market. The demand is declined for such foam immensely. The orders have been canceled or delayed by various end-users. The demand for polyurethane foam is decreased at huge amount in automotive sector. The major polyurethane companies have to shut their manufacturing facilities and many ports are sealed which leads to disruption in product movement. The pandemic caused huge decline in polyurethane foam market.
For more details, visit: Global Polyurethane Foam Market By Type (Spray Foam, Flexible Foam and Rigid Foam), By End-Users (Bedding and Furniture, Building and Construction, Packaging, Automotive, Others) By Region, Forecast & Opportunities to 2026
The polyurethane foams are widely adopted by various end-users across the globe. Polyurethane foams are widely adopted in insulation, binders, sealants, adhesives and construction products. This foam is highly flexible nd it reduces cost of infrastructure by reducing energy consumption in buildings. This drives growth in polyurethane foams market during forecast period.
On the basis of type, the polyurethane foam market is segmented into spray foam, flexible foam and rigid foam. The spray foam segment is estimated to register growth at highest CAGR during forecast period. it is used for flotation, roofing, insulation and heat applications. This foam can be used for closed cell insulations and open cell insulations in the construction industry. The demand for spray foams is increasing rapidly in construction and building industry. This drives growth in spray foam segment during forecast period.
On the basis of end-users, the polyurethane foam market is segmented into bedding & furniture, automotive, building & construction, electronics, footwear, packaging and others. The building and construction segment is estimated to lead the market in polyurethane foam during forecast period. The foam is used as insulators in flooring, roofing and air sealing in buildings and construction industry. The wide application and high adoption of these foams is likely to drive growth in building and construction end-use during forecast period.
Asia-Pacific region is estimated register growth at highest CAGR during forecast period. The building & construction market is growing immensely in this region which utilizes polyurethane foams at large scale. It is also used in various other industries such as bedding, automotive, packaging etc. various companies are establishing their facilities in this region. This drives growth in Asia-Pacific region during forecast period.
The key market players in polyurethane foam industry are Foampartner Group, Future Foam INC., FXI, Woodbridge Foam Corporation, Eurofoam Group, Foam Craft Inc., BASF SE, BAYER AG, Sekisui Chemical, Compagnie DE SAINT, Huntsman Corporation, Wanhua Chemical Group Co., Trelleborg, Tosoh Corporation, Chemtura Corporation, DOW Inc., Dupont and INOAC Corporation.
- What are the expected industry trends over the next three to five years?
- Which of the polyurethane foam type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?