Market Research Future published a Cookedresearch report on “Global Polyurethane Foam Market Research Report – Forecast to 2022”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
The Global Polyurethane Foam Market is expected to cross USD 50 billion in 2022 with an approximate CAGR of more than 9.1% from 2017 to 2022.
BASF, Dow Chemical, Evonik, Bayer AG, Trelleborg AG, Ekisui Chemical, Huntsman Corporation, Armacell GmbH, Future Foam, Trelleborg AB are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Polyurethane Foam Market.
Polyurethane Foam Global Market – Overview
The Global Polyurethane Foam Market is growing with the rapid pace; mainly due to the wide adoption of Polyurethane Foam in the life. According to a recent study report published by the Market Research Future, The global market of Polyurethane Foam is booming and expected to gain prominence over the forecast period. The global Polyurethane Foam market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2016 – 2022). The Global Polyurethane Foam Market is predicted to grow with the CAGR of around 9.1% from 2016 to 2022.
The global Polyurethane Foam market had crossed USD 50 billion in 2016 with a CAGR of more than 9.1%. The major reason behind this massive growth is the increasing usage of Polyurethane Foam in day to day life to improve the comfort and luxury. The global Polyurethane Foam market is majorly driven by its rapidly growing applications across industries such as Refrigerators and freezers, Furniture and bedding, Automotive, Coatings and adhesives and others applications. Increasing demand for refrigerators and freezers, furniture and bedding, automotive, coatings & adhesives, and others applications have accelerated the global demand for polyurethane foam. Owing to this, it has been predicted that the global market will touch a higher growth rate at the end of forecasted period. Other factors such as rising construction spending, emerging economies, and increasing need of automotive and several environmental benefits are expected to drive the regional as well as global market.
Additionally, the growing urbanization in emerging economies of Asia-Pacific, protecting environment by conversing energy and affordability are the other growth driving factors for the Polyurethane Foam market.
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Emerging trends, which have a direct impact on the dynamics of the polyurethane foam industry, includes emergence of carbon dioxide-based flexible foam and usage of natural based raw materials to manufacture polyurethane foam.
Insulation plays a big role in producing the energy savings, protecting the interior from heat and cold alike. Expanded polystyrene insulation is widely used in the construction system especially lofthomes, along with the rigid polyurethane foam. Inside the house, the walls contain PCM (Phase Change Materials), a material that absorbs and releases heat depending on the temperature – providing a form of air conditioning without electricity. This collaborative approach allows the users to make the entire construction process more efficient. In the case of Lofthome, the insulation level is almost double that required by current Dutch building regulations. The design also includes heat recovery ventilation units, solar water heaters, triple glass walls, and other sustainable features – and every material used can be recycled. Polyurethane Foam are also used in the sandwich panels to make up the facade of each Loft home. Polyurethane Foam is durable and fire-resistant and offers the highest level of insulation possible – a major factor in developing low-energy buildings.
Polyurethane Foam Global Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Polyurethane Foam appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Technology and services. Vendors operating in the Polyurethane Foam Market strive to deliver the best quality products and services based on innovative technologies, and best practices. Polyurethane Foam market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
The rapidly growing application industries has boosted the overall market which in turn has created a platform for polyurethane foam manufacturers to cover the overall market. Owing to this factor, there will be a bounteous scope for the domestic as well as international players to introduce new product launch and opportunities for the new entrants.
Polyurethane Foam Global Market – Segmentation
Global Polyurethane FoamMarket is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type: Comprises – Rigid Foam and Flexible Foam.
- Segmentation By Application : Comprises – Refrigerators and freezers, Furniture and bedding, Automotive, Coatings and adhesives and others applications
- Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
As per the analysis, the demand for flexible form of Polyurethane form will take over the demand for rigid form owing to its huge demand from the application industries.
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Polyurethane Foam Global Market – Regional Analysis
Geographically, Asia-Pacific has witnessed to have a superior growth during the forecast period by cover around 45% of the total market share followed by North America and Europe.
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