Market –
Overview
Rapid
pace of development has defined the expansion of the industry in these past few
years. Market Research Future deals in specialized market reports related to
the chemicals and materials sector amongst others, lately published a report on
this industry. The polyurethane foam market internationally is anticipated to
grow with an estimated CAGR of more than 9.1% in the forecast period.
The
level of flexibility offered in terms of applications has provided a heightened
level of demand to this industry. Ease of manufacturing and relatively low cost
of the product has been important to the growth of industry considerably. Its
usage in the bedding and furniture has increased dramatically due to increase
in the demand and need of these products. Increased urbanization has amplified
the growth pace of the market with a significant increase in the level of
disposable income as well. Increase in the consumer electronics sector has
improved the growth potential of the market.
Global Key Player:
Ø
Future
Foam
Ø
Trelleborg
AB
Ø
BASF
Ø
Huntsman
Corporation
Ø
Bayer
AG
Ø
Trelleborg
AG
Ø
Ekisui
Chemical
Ø
Dow
Chemical
Ø
Evonik,
Armacell GmbH among
Industry
Segments
The
polyurethane foam industry is divided into types by rigid foam and flexible
foam. Flexible polyurethane type has garnered higher levels of demand due to
their characteristics. The applications segmentation of the sector includes
furniture and bedding, automotive, refrigerators and freezers, coatings and adhesives
among other applications. The Bedding & furniture was the top
segment in the application category for polyurethane foams
Detailed
Regional Analysis
The
industry for Polyurethane
Foam Industry is divided into Europe, North
America, Asia Pacific, and Rest of the World (ROW). As per the study, the
consumer demand for flexible form of polyurethane will take over the demand for
rigid form due to its vast demand from the application industries. In all the
regions, Asia-Pacific has been observed to have a greater growth level in the
forecast period by cover of approximately 45% of the complete market share
followed by North American and European regions. European and North American
regions have been the conventional consumers of such polymers due to a steady
industrial output rate. While robust economic development in India and China
has significantly shifted the balance to the extent that the Asia Pacific
region is estimated to appear as the foremost consumer.
Global
Competitive Analysis
The
segment will be dominated by players who will be targeting their strategies to
gain a significant portion of the market by effective employment of their prime
resources to set off lasting growth changes. The trends in the market
which are related to growth are significantly volume driven. Increase in
diverse ranges of product forms will be crucial to market expansion. The
sector’s extensive change has fast-tracked the growth pace leading to research
with numerous advantage points. The industry’s development can be achieved by
continual ongoing process improvements and maintaining financial fluidity to
invest in the ideal strategies when they are arise.
Industry
Updates:
Jan
2018 Dow polyurethanes will be included in the Olympic Village and the 2018
Winter Olympics buildings as well. The company’s Polymeric MDI will be used to
make PIR insulation for parts of the Olympic Village. The houses made from
these panels consisting of boards and insulation foam can be constructed in a
short duration of time with half the costs. The foams also require only half
the energy to build in comparison to other expanded polystyrene structures.
Feb
2018 Sleepwell part of the Sheela Group which has gained its market share as a
top producer of polyurethane foam recently announced the unveiling of its
groundbreaking ‘comfort cell’ technology mattresses in Andhra Pradesh
signifying the entry of technology in the state. The applications of the foam
is used in businesses like shoes, garments, automobiles, and packaging.
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