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.
Get Free Sample
Copy@ https://www.marketresearchfuture.com/sample_request/1697
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
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
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.
Segmentation
Analysis:
By type, the Polyurethane Foam Market is segmented into flexible, rigid, and spray. Flexible foams accounted
for 48.55% share in 2017 and touted to showcase a strong CAGR of 8.50% till
2023. This can be attributed to its application in furniture, thermal
insulation, and soundproofing. The spray segment can exhibit 8.70% CAGR during
the forecast period and accrue USD 12,444.4 million by 2023 thanks to massive
roofing demands.
By application, it is segmented into automotive,
packaging, bedding & furniture, electronics, building & construction,
footwear, and others. The building & construction application will
contribute the maximum to the polyurethane foam market thanks to new development
projects globally. It had accounted for a large portion of market demand in
2017. Furthermore, energy-consciousness is likely to induce demand for PU foams
till the end of the forecast period. Bedding & furniture was the second
largest segment in 2017 followed by automotive. Automotive is predicted to
accrue revenue for the market at 8.95% CAGR over the forecast period.
Regional
Analysis:
By region, the polyurethane foam market is segmented
into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East
& Africa (MEA).
The Asia Pacific region accounted for the leading
market, holding 41.31 % of the share in the global polyurethane foam market, in
the year 2017. Primary factors driving the regional market include the strong
growth in demand for the product in the leading end-use industries such as
automotive, building and construction, bedding and furniture, packaging, and
footwear.
Europe was the second-largest market for polyurethane
foams accounting for 24.78 % market share, in 2017. The robust automotive
industry in Germany is a key driving force which will lead the market to
register 7.38% CAGR of during the forecast period.
The North American region is emerging as a promising
market for polyurethane foams owing to the building & construction industry
in the region which is majorly led by the growing renovation &
reconstruction activities. In the years 2017, the region has acquired almost
17.92% of the market share of the global polyurethane foam market.
Furthermore, the regulatory norms and directions led
by the US Environmental Protection Agency (EPA) alongside the government
initiatives such as Weatherization Assistance Program (WAP) to promote thermal
insulation will fuel the demand for the product in coming years.
Obtain Report Details@ https://www.marketresearchfuture.com/reports/polyurethane-foam-market-1697
Check Blog@ https://www.marketresearchfuture.com/blogs
Related Report @ https://www.marketresearchfuture.com/categories/chemicals-market-report
NOTE: Our team of researchers are
studying Covid19 and its impact on various industry verticals and wherever
required we will be considering covid19 footprints for a better analysis of
markets and industries. Cordially get in touch for more details.
No comments:
Post a Comment