Overview and Scope
Polyurethane foam is a synthetic or man-made polymer that has urethane radicals in it and is used to insulate buildings and shield materials from the elements, which can cause corrosion. Polyurethane foam is employed as padding for a wide range of consumer and business goods, including beds, furniture, automobile interiors, carpet underlay, and packaging.
Sizing and Forecast
The polyurethane foam market size has grown strongly in recent years. It will grow from $50.93 billion in 2023 to $54.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to construction industry growth, automotive interior applications, furniture manufacturing, refrigeration and appliances, footwear industry demand.
The polyurethane foam market size is expected to see strong growth in the next few years. It will grow to $73.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to renewable and bio-based polyurethane foams, increasing demand for lightweight materials, rising emphasis on thermal insulation, growth in healthcare applications, e-commerce packaging needs. Major trends in the forecast period include innovation in composite materials, circular economy practices, smart insulation solutions, sustainable packaging innovations, advanced comfort technologies in bedding.
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Segmentation & Regional Insights
The polyurethane foam market covered in this report is segmented –
1) By Type: Rigid Foam, Flexible Foam, Spray Foam
2) By Process: Slabstock Foam, Molded Foam, Lamination, Spraying
3) By Density Composition: Low-Density Composition, Medium-Density Composition, High-Density Composition
4) By Application: Bedding And Furniture, Transportation, Packaging, Automotive, Construction, Electronics, Footwear, Other Applications
Asia-Pacific was the largest region in the polyurethane foam market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the polyurethane foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for automotive vehicles is expected to propel the growth of the polyurethane foam market going forward. An automotive vehicle refers to any kind of self-propelled vehicle used for transportation on public highways or in other settings. Since polyurethane foam provides outstanding cushioning, comfort, and durability, it is frequently used in car seats and upholstery. For both drivers and passengers, it offers a comfortable and supportive sitting environment. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the rising demand for automotive vehicles is driving the growth of the polyurethane foam market.
Key Industry Players
Major companies operating in the polyurethane foam market report are BASF SE, Dow Inc., Bayer AG, Saint-Gobain S.A., Wanhua Chemical Group Co Ltd., Covestro AG, DuPont de Nemours Inc., Sekisui Chemical Co. Ltd., Huntsman Corporation, Lanxess AG, Nitto Denko Corporation, Carpenter Co., FXI Holdings Inc., Woodbridge Foam Corporation, JSP Corporation, Rogers Corporation, Armacell International S.A., Future Foam Inc., Reciticel N.V., UFP Technologies Inc., FoamPartner Group, Greiner Perfoam GmbH, Zotefoams PLC, Foamcraft Inc., Clark Foam Products Corporation, Eurofoam GmbH, Synthesia Internacional SL, American Excelsior Company, General Plastics Manufacturing Co., Innocor Inc.
The polyurethane foam market report table of contents includes:
1. Executive Summary
2. Polyurethane Foam Market Characteristics
3. Polyurethane Foam Market Trends And Strategies
4. Polyurethane Foam Market – Macro Economic Scenario
5. Global Polyurethane Foam Market Size and Growth
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31. Polyurethane Foam Market Other Major And Innovative Companies
32. Global Polyurethane Foam Market Competitive Benchmarking
33. Global Polyurethane Foam Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Polyurethane Foam Market
35. Polyurethane Foam Market Future Outlook and Potential Analysis
36.Appendix
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