New Delhi, May 04, 2022 (GLOBE NEWSWIRE) — The polyurethane foam market is rising due to very important expansions throughout the developing enterprise, along with rising product demand from the furnishing sector along with the in depth utilization of versatile and semi-rigid polyurethane foams with coatings, paints, and adhesives in residential and enterprise buildings…
A present study carried out by the strategic consulting and market evaluation company, BlueWeave Consulting, revealed that the polyurethane foam market was value USD 42.9 billion throughout the 12 months 2021. The market is forecast to develop at a CAGR of 7.40%, incomes revenues of spherical USD 70.1 billion by the tip of 2028. One of an important market drivers is the persevering with enlargement throughout the developing enterprise, along with rising product demand from the furnishing sector. In addition, the in depth utilization of versatile and semi-rigid polyurethane foams with coatings, paints, and adhesives in residential and enterprise buildings is fueling market enlargement. However, the extreme value of raw provides involved throughout the manufacturing of polyurethane foam would possibly act as a huge restraining concern for the market progress.
High Demand for High-Density Composition Foam is Driving Polyurethane Foam Market
Based on density composition, the worldwide polyurethane foam market is segmented into low-density polyurethane foams, medium-density polyurethane foams, and high-density polyurethane foams. The high-density polyurethane foam part accounts for the largest market share. This kind of density composition is an industrial-grade foam that’s accessible in all firmness. It may be very succesful of withstanding extreme stress, in distinction to completely different density compositions, due to which they’re broadly utilized in quite a few industries along with developing and constructing.
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Expanding Building and Construction Industry is Propelling Polyurethane Foam Market Growth
Based on end-user, the worldwide polyurethane foam market is segmented into bedding & furnishings, developing & constructing, electronics, automotive, footwear, packaging, and others. The developing and constructing enterprise accounts for the largest market share owing to the large choice of polyurethane foam on this sector. This foam is utilized as a thermal insulator, in flooring and waterproofing, as well as to for air sealing. Spray and stiff polyurethane foams are moreover employed in constructing as structural and insulating foams.
Polyurethane Foam Market – By Type
Based on kind, the worldwide polyurethane foam market is segmented into versatile foam, rigid foam, and spray foams. The spray foams part holds the largest share throughout the polyurethane foam market. Spray foams are typically used for thermal and acoustic insulation, as well as to flotation and roofing. These foams are utilized for every open-cell and closed-cell foam insulations throughout the developing and constructing sector and are primarily used for heat and sound insulation, which is fueling its market demand.
Please Find Press Release of the Polyurethane Foam Market: https://www.blueweaveconsulting.com/press-release/polyurethane-foam-market-to-surpass-usd-70-billion-by-2028
Polyurethane Foam Market – Regional Insights
Geographically, the worldwide polyurethane foam market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific space dominates the polyurethane foam market owing to rising constructing actions in rising economies akin to China, India, Vietnam, and so forth. Furthermore, the market is anticipated to revenue from elevated penetration of polyurethane foam producers in these nations due to low-cost manufacturing and highly effective demand all by means of the projected interval.
Impact of COVID-19 on Polyurethane Foam Market
The COVID-19 epidemic had a detrimental have an effect on on the worldwide polyurethane foam market. During the lockdown, key end-user industries of polyurethane foam, akin to constructing and automotive, had been fully shut down, main to a huge drop in demand for polyurethane foam. Furthermore, due to limitations on import and export train, the availability of raw provides was hampered. Several nations postponed their need for polyurethane foam by means of the height of the COVID-19 unfold, main to huge market losses.
The important market players of the polyurethane foam market are Inoac Corporation, Ufp Technologies, Inc., Saint-Gobain, Henkel Ag & Co. Kgaa, Basf Se, Wanhua Chemical Group Co., Ltd., Eurofoam Group, Polybit, Huntsman International Llc, Nitto Denko Corporation, Rogers Corporation, Foampartner, Covestro Ag, Sekisui Chemical Co., Ltd., Dow Inc., and completely different excellent players.
The market is consolidated with the presence of a quantity of world as well as to regional enterprise players. The companies are significantly investing in rising their manufacturing capacities to meet the surging world demand. They are establishing new manufacturing crops in unexplored areas to exploit market alternate options. Furthermore, the adoption of aggressive strategies akin to partnerships, mergers, acquisitions, collaborations, and so forth., could be excellent on this market.
The in-depth analysis of the report presents particulars about progress potential, upcoming developments, and statistics of the polyurethane foam market. It moreover highlights the elements driving forecasts of full market measurement. The report ensures to current present know-how developments of the polyurethane foam market and enterprise insights to help decision-makers make sound strategic decisions. Furthermore, the report moreover analyzes the enlargement drivers, challenges, and aggressive dynamics of the market.
- In March 2022, Perma-Pipe International Holdings, Inc., a US-based engineered pipe suppliers agency, launched further contracts of USD 15 million in Saudi Arabia and Egypt to take advantage of of Perma-Pipe’s XTRU-THERM insulation system.
- In October 2022, S7 Technics, Russian aircraft maintenance, restore, and overhaul service provider, launched the launch of the manufacturing of polyurethane foam cushions for aircraft seats.
Scope of the Report
|Years Considered||Historical data – 2018-2021|
|Base Year – 2021|
|Forecast – 2022 – 2028|
|Facts Covered||Revenue in USD Billion|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia|
|Product Service/Segmentation||By Raw Material, By Cell Structure, By Density Composition, By Type, By End-Use Industry, By Region|
|Key Players||Inoac Corporation, Ufp Technologies, Inc., Saint-Gobain, Henkel Ag & Co. Kgaa, Basf Se, Wanhua Chemical Group Co., Ltd., Eurofoam Group, Polybit, Huntsman International Llc, Nitto Denko Corporation, Rogers Corporation, Foampartner, Covestro Ag, Sekisui Chemical Co., Ltd., Dow Inc., and completely different excellent players.|
By Raw Material
- Methylene Diphenyl Diisocyanate (MDI)
- Toluene Diisocyanate (TDI)
By Cell Structure
- Microcellular Polyurethane Foams
- Nanocellular Polyurethane Foams
By Density Composition
- Low-Density Polyurethane Foams
- Medium-Density Polyurethane Foams
- High-Density Polyurethane Foams
- Flexible Foam
- Rigid Foam
- Spray Foams
By End-Use Industry
- Bedding & Furniture
- Building & Construction
- North America
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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