Polyurethane Foam Market | 2018 Global Top Industry Players Analysis and Forecas

Posted by Market Research Future on March 5th, 2019

Polyurethane foam is obtained by reacting polyols with diisocyanates. Based on type, polyurethane foam can be classified as flexible, rigid, or spray. Flexible foam finds applications in bedding, furnishing, transportation industries, packaging, and textile & fibers due to lightweight, durability, comfort, and resilience. Rigid & spray foam, however, finds applications in building & construction and freezer & refrigerators owing to good insulation properties.

The global demand for polyurethane foam market is surging in the construction industry due to the increased use in roof & wall insulation, insulated windows, and doors & air barrier sealants. Increasing investments on commercial construction activities by the government for infrastructural development in developing countries is further augmenting the demand. Additionally, expanding residential construction activities in the developing nations coupled with improving living standard and rapid urbanization is fuelling the demand for polyurethane foams in construction industry. Increased efforts to make energy efficient buildings is expected to offer opportunities to the polyurethane foam market for both, developed and developing nations.

Burgeoning automotive industry growth with enlarging demand for lightweight vehicles to reduce environmental issues is uplifting the market growth, globally. The product is being increasingly used in seats, heating, ventilation, & air conditioning, interior panels, and headliners. Environmental regulations such as Environmental Protection Agency and European Environment Agency that are set by the regulatory authorities to reduce carbon emissions in the developed nations, such as U.S., enhances the polyurethane foam demand in the automotive sector.

The product consumption is increasing in the furnishing industry due to the escalating demand for multi-functional and technology-driven furniture by people living in smaller spaces. Increasing use of polyurethane foam in packaging industry to package printed circuit boards, electronics, jewelry, and food products owing to lightweight, shock resistance, and resilience is driving the market growth.

Regional Analysis: Asia Pacific accounted for the largest market share in the polyurethane foam market in 2017 and is expected to witness significant growth during the review period. Growing construction industry with rising investment by the Indian government in various projects such as Smart Cities Mission, Green Energy Corridor, wind, and solar power projects is likely to boost the polyurethane foam demand over the forecast period.

North America is the prominent region for polyurethane foam market owing to the expanding transportation sector including automotive, aviation, and marine industry. Flourishing construction industry with increasing focus on manufacturing energy efficient buildings under green building concept is propelling the market growth. For instance, according to the U.S. Department of Energy, 40 % of total energy is consumed by buildings in U.S.

Europe is likely to witness significant growth during the review period with expanding packaging industry. Growing production of packaged beverages & food products due to convenience and improved shelf life is fuelling the demand in this region.

Latin America region is expected to exhibit considerable growth with respect to growing construction and automotive sectors, especially in Brazil and Mexico.  The Middle East and Africa is likely to witness substantial growth during the review period on account of bolstering growth of HVAC industry in the region.

Segmentation: The global polyurethane foam market is segmented into type, application, and region.

On the basis of type, the market is segmented into rigid, flexible, and spray.

On the basis of application, the market is segmented into building & construction, transportation, furnishing, bedding, packaging, freezer & refrigerator, textile & fibers, and other.

Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players: Some of the key players in the global polyurethane foam market are BASF SE (Germany), DowDuPont (U.S.), Bayer CropScience Limited (Germany), SEKISUI CHEMICAL CO., LTD (Japan), Saint Gobain S.A. (France), Huntsman International LLC (U.S.), Trelleborg AB (Sweden), Tosoh Corporation (Japan), LANXESS (Germany), INOAC CORPORATION (Japan), Future Foam (U.S.), Universal Foam Products (U.S.), and Armacell International S.A (Germany).

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Joined: March 9th, 2018
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