According to the latest report by IMARC Group, titled “Polyurethane Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” he global polyurethane (PU) foam market size reached US$ 45.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 67.7 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027.
Polyurethane foam represents a synthetic polymer that provides insulation and protection to materials against temperature, moisture, abrasion, impact, and corrosion. It is commonly available in the flexible, spray, and rigid forms and is mainly used as stuffing in bedding and furniture. Polyurethane foam is non-toxic, hypoallergenic, does not tarnish over time, and can also rapidly react with water to expand and connect with the surfaces with high adhesion after application. As a result, this polymer finds widespread utilization across various sectors, such as automotive, packaging, footwear, building and construction, electronics, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Polyurethane (PU) Foam Market Trends:
The expanding construction industry and the escalating product demand in the furnishing sector are among the primary factors driving the polyurethane (PU) market. Besides this, the elevating requirement for flexible and semi-rigid polymers that are used with paints, coatings, and adhesives in commercial and residential complexes is further augmenting the market growth. Moreover, several innovations and advancements and the development of bio-based polyols that are utilized for manufacturing polyurethane foam and have reduced carbon emissions into the environment are also catalyzing the global market. Apart from this, the growing product popularity in the automotive sector for manufacturing lightweight automobile components, including airbags, armrests, dashboards, and other exterior parts that further aid in enhancing the overall fuel efficiency of the vehicle, is acting as another significant growth-inducing factor. Furthermore, the emerging trend of industrialization and the inflating need for these polymers in the packaging industry are anticipated to propel the polyurethane(PU) market over the forecasted period.
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Global Polyurethane (PU) Foam Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BASF SE, Covestro AG, Foamcraft Inc., Future Foam Inc., Huntsman International LLC. (Indorama Ventures Public Company Limited), Recticel NV/SA, Rogers Corporation, Saint-Gobain S.A., Sekisui Chemical Co. Ltd., The Dow Chemical Company, Tosoh Corporation, UFP Technologies Inc. and Wanhua Chemical Group Co. Ltd., etc.
The report has segmented the market on the basis on region, structure, product type, density, end-use industry.
Breakup by Structure:
- Open Cell
- Closed Cell
Breakup by Product Type:
- Flexible Foam
- Rigid Foam
- Spray Foam
Breakup by Density:
- Low Density
- Medium Density
- High Density
Breakup by End-Use Industry:
- Bedding and Furniture
- Building and Construction
- Electronics
- Automotive
- Packaging
- Footwear
- Others
Breakup by Region:
- North America:(United States, Canada
- Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America;(Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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