Polyurethane foam is obtained by reacting polyols
with diisocyanates. Based on type, polyurethane foam can be classified as
flexible, rigid, or spray. Flexible foam finds applications in bedding,
furnishing, transportation industries, packaging, and textile & fibers due
to lightweight, durability, comfort, and resilience. Rigid & spray foam,
however, finds applications in building & construction and freezer &
refrigerators owing to good insulation properties.
The global demand for polyurethane foam market is
surging in the construction industry due to the increased use in roof &
wall insulation, insulated windows, and doors & air barrier sealants.
Increasing investments on commercial construction activities by the government
for infrastructural development in developing countries is further augmenting
the demand. Additionally, expanding residential construction activities in the
developing nations coupled with improving living standard and rapid
urbanization is fuelling the demand for polyurethane foams in construction
industry. Increased efforts to make energy efficient buildings is expected to
offer opportunities to the polyurethane foam market for both, developed and
developing nations.
Burgeoning automotive industry growth with
enlarging demand for lightweight vehicles to reduce environmental issues is
uplifting the market growth, globally. The product is being increasingly used
in seats, heating, ventilation, & air conditioning, interior panels, and
headliners. Environmental regulations such as Environmental Protection Agency
and European Environment Agency that are set by the regulatory authorities to
reduce carbon emissions in the developed nations, such as U.S., enhances the
polyurethane foam demand in the automotive sector.
The product consumption is increasing in the
furnishing industry due to the escalating demand for multi-functional and
technology-driven furniture by people living in smaller spaces. Increasing use
of polyurethane foam in packaging industry to package printed circuit boards,
electronics, jewelry, and food products owing to lightweight, shock resistance,
and resilience is driving the market growth.
Regional Analysis: Asia Pacific accounted for the largest market share
in the polyurethane foam market in 2017 and is expected to witness significant
growth during the review period. Growing construction industry with rising
investment by the Indian government in various projects such as Smart Cities
Mission, Green Energy Corridor, wind, and solar power projects is likely to
boost the polyurethane foam demand over the forecast period.
North America is the prominent region for
polyurethane foam market owing to the expanding transportation sector including
automotive, aviation, and marine industry. Flourishing construction industry
with increasing focus on manufacturing energy efficient buildings under green
building concept is propelling the market growth. For instance, according to
the U.S. Department of Energy, 40 % of total energy is consumed by buildings in
U.S.
Europe is likely to witness significant growth
during the review period with expanding packaging industry. Growing production
of packaged beverages & food products due to convenience and improved shelf
life is fuelling the demand in this region.
Latin America region is expected to exhibit
considerable growth with respect to growing construction and automotive
sectors, especially in Brazil and Mexico. The Middle East and Africa is
likely to witness substantial growth during the review period on account of
bolstering growth of HVAC industry in the region.
Segmentation: The global polyurethane foam market is segmented into type, application,
and region.
On the basis of type, the market is segmented into
rigid, flexible, and spray.
On the basis of application, the market is
segmented into building & construction, transportation, furnishing,
bedding, packaging, freezer & refrigerator, textile & fibers, and
other.
Based on the region, the market is segmented into
North America, Europe, Asia Pacific, Latin America, and the Middle East &
Africa.
Key Players: Some of the key players in the global polyurethane foam market are BASF
SE (Germany), DowDuPont (U.S.), Bayer CropScience Limited (Germany), SEKISUI
CHEMICAL CO., LTD (Japan), Saint Gobain S.A. (France), Huntsman International
LLC (U.S.), Trelleborg AB (Sweden), Tosoh Corporation (Japan), LANXESS
(Germany), INOAC CORPORATION (Japan), Future Foam (U.S.), Universal Foam
Products (U.S.), and Armacell International S.A (Germany).
Obtain
Report Details@ https://www.marketresearchfuture.com/reports/polyurethane-foam-market-1697
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