Polyurethane Foam Market Size, Share, Trends, Outlook, Growth Opportunity and Market Forecast 2023 - 2030
Polyurethane Foam Market is segmented By source (Flexible Foam, Rigid Foam, Molded Foam), By Application (Bedding & Furniture, Building, and Construction, Electronics, Automotive, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Polyurethane Foam Market Overview
Report analyses the Global Polyurethane Foam Market size, shares, recent trends, competitive intelligence, and future market outlook. Polyurethane Foam usage in Furniture making and Construction field is on the rise. Demand from Automotive, Building, and Construction, Bedding & Furniture, Electronics in Asia Pacific is spiking. Competitive rivalry intensifies with Huntsman, Evonik, Bayer AG and others operating in the market.
Polyurethane is a type of plastic that is known as a thermoset and is obtained by heating in a usually irreversible reaction. Polymeric foams can be found virtually everywhere because of their valuable properties compared with counterpart materials. Perhaps the main class of polymeric foams is polyurethane foam (PUF) as it has a low thickness and thermal conductivity combined with its interesting mechanical properties making them excellent thermal and sound insulators in addition, to structural and comfort materials. Despite the wide scope of uses, the creation of PUFs is still highly oil subordinate, so this industry should adjust to strict guidelines for purchasers. In that sense, the raw materials and innovations can soon face a turning moment because of the need to utilize sustainable natural materials and new technologies as Polyurethane is a plastic material, which exists in many forms with properties of versatile, modern, and safe. They are used in a wide range variety of applications to create all manner of consumer and industrial products that play an important role in making our lives more convenient, comfortable, and environmentally friendly.
Polyurethane Foam Market Scope and Summary
Metrics |
Details |
Market CAGR |
7.5% |
Segments Covered |
By Source, By Application Type, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Polyurethane Foam Market Trends and Dynamics
Nowadays, PUs is utilized in everyday life products, and perhaps it is the main polymers that continue to change the quality of human life. The overall utilization of PU was assessed at 60.5 billion USD in 2017, and it was anticipated to be more than 79 billion USD by 2027. In 2016, it spoke to almost 9% of the worldwide utilization of plastics.
The development and innovation in polyurethane foam to form polyols from renewable sources, such as biomass residues, vegetable oils, or industrial products. To form recycling films, which will increase market growth in the forecast period. Moreover, recycled films are useful because they can be used for rigid products such as bumpers, and industries are also working toward making foam from the reprocessed material to broaden the types of products this process could create. As research is going on to find a more environmentally friendly catalyst without tin it is being hoped that this work might suggest new ways of dealing with other, chemically different crosslinked plastics.
However, the short life of polyurethane is a major disadvantage of this product. Polyurethane has hygroscopic tendencies that are water absorption characteristics. Moreover, due to hygroscopic tendencies, the mattresses made from it absorb water and gradually disintegrate and lose their quality of support. In addition, due to adhesive and sealants, the durability of polyurethane paints is adversely affected when exposed to direct sunlight or organic solvents.
In addition, polyurethane foam consists of non-renewable fossil fuels and emits toxic fumes on burning. Moreover, the burning agents in polyurethane produce greenhouse gases that have a huge effect on the atmosphere.
Polyurethane Foam Market Segmentation Analysis
By type, the market is segmented into waterborne polyurethane dispersions (PUDs); binders; reaction injection molding (RIM); thermoplastic Polyurethane; coatings, adhesives, sealants, and elastomers (CASE); rigid Polyurethane; flexible Polyurethane. Among all, flexible and rigid Polyurethane is used in various applications and is expected to grow at a faster rate as compared to other types in the forecast period.
By application, the market is segmented into apparel; appliances; automotive; building and construction; composite wood; electronics; flooring; furnishings; marine; medical, and packaging.
Flexible polyurethane foam (FPF) affects our lives in many directions, and new applications are rolling out regularly. FPF is been used by us in a wide variety of consumer and commercial products like furniture, carpet cushion, transportation, bedding, packaging, textiles, and fibers. FPF is mostly used for carpet cushions and furniture, which will grow at a faster rate in the forecast period. Most of the other types are used by the automobile industry for automotive interiors and other purposes.
In addition, as per the U.S Department of energy, rigid polyurethane uses 50 to 70% of the energy that is used in the average American home for heating and cooling. To help reduce these costs, maintain a constant temperature, and lower noise levels in homes and commercial properties, builders turn to rigid polyurethane and polyisocyanurate (polyiso) foam, which is one of today’s most effective insulation materials available for roof and wall insulation, insulated windows and doors, and air barrier sealants.
Global Polyurethane Foam Market Geographical Share
Asia Pacific polyurethane foam market is valued at USD 20.05 Bn in 2018 and is estimated to grow at a CAGR of YY % over the forecast period and reach a USD YY Bn by 2027. The Asia Pacific market covers China, Japan, South Korea, India, Australia, and others. The growth is mainly in developing economies, such as India, China, and Japan, as the growing demand for polyurethane foams from various industries as well as the rising footprint of the global players dealing in polyurethane foams is expected to grow in the forecast period. The growth in the industry is mainly due to upcoming technologies in the automobile and communication sector, as the growing sales of highly protected vehicles and the growing sales of electronics products are the major factors responsible for the growth of the Asia Pacific. In North America, the market of polyurethane foam is widely used in the automobile and furniture, and bedding sectors for comfort and will increase the growth of polyurethane in the predicted period.
Polyurethane Foam Market Companies and Competitive Landscape
The polyurethane foam market is moderated and fragmented with the presence of global and regional players. The competitive edge lies in the increase in the regional company and growing investment in upstream applications. BASF, Dow Chemical, Evonik, Huntsman, Chemtura, Bayer AG, Sekisui Chemicals, Trelleborg AG, Future Foam. Among all, BASF, Dow Chemical, Evonik, Huntsman, and Chemtura are the major players in the polyurethane foam market. Manufacturers are actively involved in R&D for making the recycling films so that the polyurethane foam can be used again and to reduce the consumption of raw materials used in making polyurethane foam. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the polyurethane foam market globally.
BASF and Hyundai Motor have partnered again to introduce an impressive showcase of emotion and specialized substance: The idea of car RN30 was created to offer pure driving joy on the race track for everybody and features the latest in innovative automotive solutions that are driven by BASF. The RN30 combines key arrangements from the chemical industry with purposeful aerodynamic design and specialized high-performance advancement. BASF contributes fundamentally to the idea with lightweight plastics, endless possibilities in design as well as tough and eco-friendly materials again to introduce an impressive showcase of emotion and specialized substance: The idea of car RN30 was created to offer pure driving joy on the race track for everybody and features the latest in innovative automotive solutions that are driven by BASF. The RN30 combines key arrangements from the chemical industry with purposeful aerodynamic design and specialized high-performance advancement. BASF contributes fundamentally to the idea of lightweight plastics, endless possibilities in design, as well as tough and eco-friendly materials.