Polyurethane Foam Market: Current Analysis and Forecast (2022-2028)

Report Description

The global polyurethane foam market is likely to showcase a growth of around 7% during the forecast period. Polyurethane is a widely used material in day-to-day life ranging from sleeping products like mattresses to the highly intricate aerospace industry. Rigid and flexible are two of the most used polyurethane foams, their use depends upon the application area and expectations from final products. Bedding & furniture, building & construction, automotive & transportation, electrical & electronics, footwear, packaging, and textile are some of the largest consumers of polyurethane foam. The growing market for mattresses & upholstery due to the rising population and increasing consumption of mattresses due to improving income are the key factors driving the market for flexible polyurethane foam. Further, increasing focus on improving energy efficiency impacts the demand for insulation material in a positive way. Since rigid polyurethane foam is one of the most consumed insulation materials, its demand would grow during the foreseeable future.

Insights Presented in the Report

“Amongst types, flexible foam held a prominent share in the market in 2020”

Based on type, the market is categorized into rigid foam, flexible foam, and spray foam. Among these, flexible foam accounted for a considerable share of the market and is expected to retain its position during the forecast period owing to growing construction activities in developing economies due to rising urbanization, increasing industrialization, and rising consumer income. With the rise in construction activities, demand for bedding, furniture, carpet underlay, and packaging for logistic purposes would also increase, thereby increasing the demand for flexible foam.

“Amongst end-user, bedding & furniture accounted for a significant share in 2020”

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 significant share of the market and is expected to maintain a strong presence during the forecast period. Most of the flexible foams are used in the manufacturing of bedding & furniture, thereby the category maintains a strong demand for polyurethane foam. Further, growing demand for bedding & furniture products due to the growing population and improving income is likely to maintain a strong PU foam demand during the forecast period.

“Asia-Pacific is expected to retain its position during the forecast period”

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 large and growing base of end-use industries of the Asia-Pacific region along with the presence of international and local polyurethane manufacturers are two of the key attributable factors for the growth of the market. The region is led by China which accounts for the major share due to its large construction, furniture, and automotive industries. Further, countries like Indonesia and Vietnam are increasingly becoming major hubs for the global footwear market, which in turn increases the demand for polyurethane.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

Customization Options:

The global polyurethane foam market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for Global Polyurethane Foam Market Analysis (2020-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of Polyurethane foam, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the polyurethane foam industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of polyurethane foam through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the polyurethane foam market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by type and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of Polyurethane Foam globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of polyurethane foam. Further, we conducted factor analysis using dependent and independent variables such as the rising construction activities and large and growing end-use industries. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the polyurethane foam industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Polyurethane Foam market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of polyurethane foam across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the polyurethane foam market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global polyurethane foam market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type and end-user.

The main objective of the polyurethane foam market study

The current & future market trends of global polyurethane foam were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of polyurethane foam in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include the area of the type and end-user
• Defined analysis of the regulatory framework for the polyurethane foam industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of polyurethane foam for the major countries
• Major regions/countries analyzed in the report include North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
• Company profiles of the polyurethane foam market players and the growth strategies adopted by them to sustain the growing market

Deep dive country-level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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