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Polyurethane Foam Market Growth, Trends, Absolute Opportunity and Value Chain 20
Polyurethane Foam Market – Overview
Polyurethane is a type of polymer or plastic which belongs to the wide range and highly diversified family of polymers. The polyurethane foam is defined as solid or open structured form of polyurethane. The polyurethane foam is mostly available in the flexible or rigid form. The property of polyurethane to solve challenging problems and mold into unusual shapes enhances the application of polyurethane. The polyurethane foam protects the products by providing excellent dielectric and adhesive properties. The polyurethane foam is resistant to abrasion, temperature, water, impact and weather. This elongates the life of products made from polyurethane foam, thereby leading to the significant growth of the polyurethane foam market over the forecast period.
Polyurethane Foam Market – Drivers and Restraints
The global polyurethane foam market is projected to grow at a significant CAGR over the forecast period as the demand of polyurethane foam is increasing rapidly from the end use markets. The polyurethane foam is more reasonable and safe mode of reducing carbon emission and global warming effects .This is the leading factor which drives the growth of the global polyurethane foam market. The demand of polyurethane foam is increasing significantly owing to reduced wastage, elevated recyclability and enhanced lifecycle of the end product. Moreover, the increasing industrialization results in the increasing use of polyurethane foam in construction, packaging, furniture and footwear, thereby driving the global market
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However, increasing concern of various governments and federal agencies about the harmful health effects of isocyanates used in polyurethane foam production may hamper the use of polyurethane foam and the restrain the growth of the global polyurethane foam market.
Polyurethane Foam Market – Segmentation
The global Polyurethane foam market has been segmented on the basis of category, types, and application.
On the basis of category, the global polyurethane foam is segmented into:
On the basis of type, the global polyurethane foam is segmented into:
On the basis of application, the global polyurethane foam is segmented into:
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Polyurethane Foam Market – Region Wise Outlook
The global polyurethane foam market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The North America has contributed a significant market share to the global polyurethane foam market followed by APEJ. The growth in APEJ is attributed to the high demand of the polyurethane foam in manufacturing and processing units of the industries such as construction, furniture, and bedding industry. . Western Europe region also registers the descent growth to the global polyurethane foam market due to the various end use applications. Japan and Eastern Europe contribute descent growth to the global polyurethane foam market. The MEA and Latin America are at a nascent stage and are expected to show a moderate growth during the forecast period. Overall, the global polyurethane foam market is expected to register a significant growth rate over the forecast period 2016 to 2026.
Polyurethane Foam Market – Key Players
Some of the key players in the polyurethane foam market are as follows:
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