Polyurethane Foam Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

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.

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According to UnivDatos Market Insights (UMI)’ research report “Global Polyurethane Foam Market”, the market is expected to showcase a growth of around 7% during the forecast period. 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 are some of the key attributable factors for the growth of the market.

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.

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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.

Asia-Pacific accounted significant share of the market in 2020

The Asia-Pacific accounted for a prominent share of 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. In addition, cheap labor and well maintained supply chain for the polyurethane foam is fueling its demand in the regional economies.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Polyurethane Foam market include Covestro AG, BASF SE, Wanhua Chemical Group Co. Ltd., The Dow Chemical Company, Hunstman Corporation, Sekisui Chemical Co. Ltd., Compagnie de Saint-Gobain S.A., Lanxess AG, DuPont de Nemours Inc., and Sheela Foam Ltd. These companies are taking several strategic decisions to meet the growing demand and increase their market share.

“Global Polyurethane Foam Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1.      By Type (Rigid Foam, Flexible Foam, and Spray Foam)

2.      By End-User (Bedding & Furniture, Building & Construction, Automotive & Transportation, Electrical & Electronics, Footwear, Packaging, Textile, and Others)

3.      By Region (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 APAC), and Rest of World)

4.      By Company (Covestro AG, BASF SE, Wanhua Chemical Group Co. Ltd., The Dow Chemical Company, Hunstman Corporation, Sekisui Chemical Co. Ltd., Compagnie de Saint-Gobain S.A., Lanxess AG, DuPont de Nemours Inc., and Sheela Foam Ltd.)

Key questions answered in the study:

• 1.      What are the current and future trends of the global polyurethane foam industry?
• 2.      How the industry has been evolving in terms of type and end-user?
• 3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?
• 4.      What are the key growth drivers and challenges for the global polyurethane foam industry?
• 5.      What are the customer orientation, purchase behavior, and expectations from the global polyurethane foam suppliers across various region and countries?