Robust growth in the industrial sector of emerging economies is propelling the market growth for polyurethane foam
The global polyurethane foam market is likely to showcase a growth of around 7% during the forecast period. This can be ascribed to the growing end-use industry of emerging countries, increasing focus on improving building energy efficiency, and rising population coupled with improving people per capita income.
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Over the years, the consumption of polyurethane has grown steadily, and it is expected that it would be able to maintain a strong demand during the forecast period. The increasing market for bedding & furniture in emerging economies along with rising investment in the building & construction sector are some of the key factors for the growth of the market. In addition, as the world is moving toward a sustainable future, governments across the globe are taking several strategic decisions to improve buildings’ energy efficiency. This is likely to fuel the demand for insulation materials, thereby boosting the market for polyurethane foam. Recovery in the automotive sector is further like to pump the polyurethane foam market. According to the European Commission, in the automotive industry, vehicles are composed of different materials, and a noticeable and fundamental fraction of them (20% w/w) is constituted by plastic material, among which polyurethane is one of the key materials.
Based on type, the market is categorized into rigid foam, flexible foam, and spray foam. Among these, rigid foam is likely to showcase significant growth over the forecast period. The increasing demand for insulation materials in buildings & construction to improve energy efficiency is the key attributable factor for the growth of rigid foam.
Based on end-user, the market is categorized into bedding & furniture, building & construction, automotive & transportation, electrical & electronics, footwear, packaging, textile, and others. Among these, bedding & furniture accounted for a prominent share of the market. The rising number of houses to accommodate the growing population, improving people’s disposable income, high standard of living, and growing work-from-home culture are some of the factors which are increasing the market for beds and furniture, such as sofas and chairs. Thereby propelling the demand for polyurethane foam.
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For a better understanding of the market adoption of Polyurethane Foam, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-Pacific accounted for a prominent share in the global polyurethane foam market owing to the large base of the end-use industry. Further, a large and growing population coupled with rapid urbanization is supporting the market for polyurethane foam.
Global Polyurethane Foam Market Segmentation
Market Insight, by Type
• Rigid Foam
• Flexible Foam
• Spray Foam
• Bedding & Furniture
• Building & Construction
• Automotive & Transportation
• Electrical & Electronics
Market Insight, by Region
- North America Polyurethane Foam Market
- The United States
- Rest of North America
- Europe Polyurethane Foam Market
- The United Kingdom
- Rest of Europe
- Asia-Pacific Polyurethane Foam Market
- Rest of Asia-Pacific
- Rest of World Polyurethane Foam Market
Top Company Profiles
- Covestro AG
- BASF SE
- Wanhua Chemical Group Co. Ltd.
- The Dow Chemical Company
- Huntsman Corporation
- Sekisui Chemical Co. Ltd.
- Compagnie de Saint-Gobain S.A.
- Lanxess AG
- DuPont de Nemours Inc.
- Sheela Foam Ltd.