Polyurethane Foam Market

Introduction of the Polyurethane Foam Market Report

Polyurethane is synthesized by reacting isocyanate and polyol. The polyurethane with open cellular structure is referred as polyurethane foam and it is formed when gas is introduced in polyurethane, either via reaction of the isocyanate with water, or with blowing agents.  The polyurethane foam are available as rigid, flexible, and spray foam.

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Market Dynamic

Key Drivers and Emerging Trends

Rising awareness pertaining energy conservation, increasing demand for smart homes, adoption of HVAC system, and growing automotive industry are some of the major factors expected to increase the demand for polyurethane foam over the forecast period. Additionally, polyurethane foam are used in construction, oil & gas, packaging, furniture, and automotive sectors owing to their benefits that include sealing, cushioning, vibration control, lightweight, and durability.

Moreover, the Polyurethane Foam Association (PFA), Indian Polyurethane Association (IPUA), the Spray Polyurethane Foam Alliance (SPFA), Center for the Polyurethanes Industry (CPI) and Polyurethane Manufacturers Association (PMA) provide support and promote the use of polyurethane foam. Furthermore, development of bio-derived materials, including soy-based polyols help in reducing dependence on petroleum-based raw materials for the production of polyurethane foams and in minimizing the manufacturing costs of these foams, which is expected to contribute to the growth of polyurethane (pu) foam market.

Restraint in the Polyurethane Foam Market

However, the high costs materials that includes toluene diisocyanate, methyl di-p-phenylene, and polymeric isocyanate that are used for manufacturing polyurethane foams is one of the prominent factors expected to restraint the growth of the polyurethane foam market size. Utilization of toxic isocyanates and flammability of polyurethane may further hamper the polyurethane foam market.

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Type – Segment Analysis

Based on the type, the rigid polyurethane foam is expected to account for a prominent share in the market. This is primarily due to its widespread use in construction of roof and wall insulation, insulated windows, doors and air barrier sealants owing to energy efficiency and effective insulation properties. Additionally, rising demand of rigid polyurethane foam in pipe and pipeline insulation application in industries including oil and gas, power plants, chemical facilities, and dairy factories to reduce heat loss for conserving energy and maintain proper temperature control for sensitive manufacturing process is further expected to stimulate the market growth.

End-Use Industry – Segment Analysis

Based on the end-use industry, the packaging industry is anticipated to grow at a high CAGR over the forecast period owing to increasing application of polyurethane foams in packaging of fragile and shock-sensitive objects including electronics, medical diagnostic device, glassware, and large industrial parts. Moreover, polyurethane foam provide abrasion resistivity, shock absorption, and easy fabrication which further support the market growth.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a large share in the market owing to the growing packaging, automotive, and electronic industries, and the presence of the Center for the Polyurethanes Industry (CPI) and Polyurethane Foam Association (PFA) promoting sustainable development and growth of the polyurethane market. According to the PFA, more than 1.5 billion pounds of flexible polyurethane foam are produced in North America each year. This is projected to propel the market growth in the North America.

Top Market Players

Several Leading players operating in the market, include, BASF SE, Dow Inc., Wanhua Chemical Group Co., Ltd., Huntsman Corporation, Sekisui Chemical Co., Ltd., Rogers Corporation, Bayer AG, LANXESS Group, Recticel Group and Covestro AG among others. 

Key Developments: 

• • In 2020, Recticel Group and Covestro AG collaborated to develop mattresses more sustainable, including the research of raw material technologies for polyurethane foam. The aim of the collaboration is to develop a complete circular product lifecycle of polyurethane foam using sustainable material.

Segments covered in the Report:

The global Polyurethane Foam Market has been segmented on the basis of type, end-use industry, and key regions. Based on type, the market is segmented into rigid foam, flexible foam, and spray foam. Based on end-use industry, the market is segmented into bedding & furniture, building & construction, automotive, electronics, footwear, packaging, others. 

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Key questions answered in this research report:

• • At what pace is global Polyurethane Foam Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Polyurethane Foam Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Polyurethane Foam Market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various end-use industries of global Polyurethane Foam Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	BASF SE, Dow Inc., Wanhua Chemical Group Co., Ltd., Huntsman Corporation, Sekisui Chemical Co., Ltd., Rogers Corporation, Bayer AG, LANXESS Group, Recticel Group and Covestro AG. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Polyurethane Foam Market by Type

• • Rigid Foam
  • Flexible Foam
  • Spray Foam

Global Polyurethane Foam Market by End-Use Industry

• • Bedding & Furniture
  • Building & Construction
  • Automotive
  • Electronics
  • Footwear
  • Packaging
  • Others

Global Polyurethane Foam Market by Region

• • North America Polyurethane Foam Market (Option 1: As a part of the free 25% customization)
    • North America Market by Type
    • North America Market by End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Polyurethane Foam Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Type
    • Europe Market by End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Polyurethane Foam Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Polyurethane Foam Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Type
    • RoW Market by End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Polyurethane Foam Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BASF SE
  • Dow Inc.
  • Wanhua Chemical Group Co., Ltd.
  • Huntsman Corporation
  • Sekisui Chemical Co., Ltd.
  • Rogers Corporation
  • Bayer AG
  • LANXESS Group
  • Recticel Group
  • Covestro AG