A recent report published by Infinium Global Research on polyurethane foam market provides in-depth analysis of segments and sub-segments in the global as well as regional polyurethane foam market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional polyurethane foam market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global polyurethane foam market. According to the report, the global polyurethane foam market is projected to grow at a CAGR of 7.30% over the forecast period of 2018-2024.
Polyurethane foam is a synthetic polymer that contains urethane radicals. Polyurethane foam is used to provide insulation and protection of material against external sources that propagate corrosion. Two types of polyurethane foam that are generally used are rigid and flexible foams. Rigid polyurethane foam is used for most insulation purposes while flexible polyurethane foam is used for packaging, padding and several commercial purposes. Polyurethane foam can also be classified based on its composition and fundamental properties, as either ester or ether polyurethane foam.
Polyurethane foam is used in several end-use sectors including automotive, construction and packaging industry. The growing demand for polyurethane foams from the automotive industry for improving the riding comfort of the passengers is primarily driving the growth of this market. They are used extensively for interior components of automobiles, in seats, headrests, armrests, roof liners, dashboards, and instrument panels, as they are lightweight, durable, versatile, and offer freedom of design.
Furthermore, the expanding infrastructural development in growing economies propels the growth of polyurethane foam market. However, the fluctuations in the prices of raw material for the manufacturing of polyurethane foam and the growing environmental concerns hamper the growth of this market. Moreover, the introduction of bio-based polyurethane foam provides opportunities for the growth of polyurethane foam market.
Geographically, Asia Pacific dominates the global polyurethane foam market. The flourishing automotive and construction industry in the Asia Pacific countries such as China, Japan, Malaysia, and India are expected to drive the growth of polyurethane foam market in this region. In addition, the presence of several polyurethane foam-manufacturing companies in China contributes to the growth of the Asia-Pacific polyurethane foam market. Europe is anticipated to be the fastest growing region owing to the presence of leading automotive companies in this region. The growth in infrastructure and growing foreign investments in developing economies is expected to boost the polyurethane foam market in the rest of the world region.
The report on global polyurethane foam market covers segments such as types and application. On the basis of types, the sub-markets include flexible, rigid, and spray foam. On the basis of application, the sub-markets include automotive, bedding & furniture, electronics, building & construction, footwear, packaging, transportation, textile & fibers, and coatings and adhesives.
The report provides profiles of the companies in the market such as Covestro, BASF SE, Huntsman Corporation, Bayer AG, The Dow Chemical Company, Saint-Gobain S.A., Reciticel, Chemtura Corporation, Trelleborg AG, Foamcraft, Inc., UFP Technologies, and Sekisui Chemicals.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of polyurethane foam market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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