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).
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