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Polyurethane Foam Market Forecast to 2030 – COVID-19 Impact and Global Analysis by Product Type, Indication, End User, and Geography

The polyurethane foam market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the polyurethane foam market growth. Additionally, the database analyzes and estimates the polyurethane foam market both globally and regionally.

The polyurethane foam market size is expected to reach USD 122.8 billion by 2028 according to a new study by Report Ocean.

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The report Polyurethane Foam Market – By Product; By End-Use (Automotive, Packaging, Electrical & Electronics, Furniture & Furnishing, Building & Construction, Footwear, Others); By Density Composition; By Regions; Segment Forecast – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The adoption of the foam is expected to increase during the forecast period owing to wide applications in industries such as building and construction, automotive, packaging, and furniture among others. Increasing environmental concerns associated with energy conservation coupled with the introduction of stringent regulations regarding carbon emissions would further support the market growth. Increasing demand for modernized and high-performing vehicles along with increasing investment in the construction industry, especially in emerging economies of Asia-Pacific, supplement the market growth.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the polyurethane foam market also experienced a slowdown. Statista estimates that the polyurethane foam market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the polyurethane foam market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the polyurethane foam market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

The different types of polyurethane foam in the market include rigid, flexible, spray, and others. Rigid ones are used for the manufacturing of thermal insulating products owing to their high strength, lightweight, low density, and moisture resistance. The rising environmental concerns have increased the adoption of polyurethane foam in the construction sector. Use of rigid polyurethane foam results in enhanced energy efficiency, reduced project weight, and cost-efficiency.

The polyurethane foam of different density compositions such as high-density, medium-density, and low-density are available in the market. Low-density product is widely used in thermal insulation applications. Buildings are insulated with low-density products for heat and noise control. It also assists in reducing air leakage, increasing strength and durability, and improving the building’s resistance to wind uplift.

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Polyurethane foam is used in diverse industries such as automotive, packaging, electrical and electronics, furniture and furnishing, building and construction, footwear, and others. The building and construction segment accounted for the highest share in 2020. However, the automotive segment is expected to grow at a significant rate during the forecast period.

The use of the polyurethane product in the vehicle body increases durability and strength while reducing overall weight, thereby offering insulation against heat and noise. The use of polyurethane foam in seats, armrests, headrests, doors, and windows provides improved comfort, enhanced safety, greater environmental performance, and higher energy efficiency.

Asia Pacific dominated the global market for polyurethane foam in 2020 and is expected to maintain its dominance over the forecast period. Increasing application in sealing and insulation of electronic products coupled with rising awareness regarding the adoption of electric vehicles fuels growth in this region. Rising industrial growth, urbanization, and growth in the automotive sector support market growth.

Increasing applications in construction and packaging industries further increase the demand for polyurethane foam in Asia-Pacific. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.

Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share. Broadening of the product portfolio is another trend that is visible in the industry.

Major Players:

Some of the major market participants include DowDuPont, Eurofoam Group, Saint-Gobain S.A., Woodbridge Group, Evonik, Bayer AG, LyondellBasell Industries, BASF SE, Arkema S.A., Rogers Corporation, Sekisui Chemical Co. Ltd., Foamcraft, Inc., Ineos Group AG, UFP Technologies, Inc., Chemtura Corporation, Covestro AG, Nitto Denko Corporation, and Nippon Polyurethane Industry Co., Ltd.

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Polyurethane Foam Density Composition Outlook (Volume – Kilo Tons; Revenue – USD Million; 2016 – 2028)

High-Density

Medium-Density

Low-Density

Polyurethane Foam Product Type Outlook (Volume – Kilo Tons; Revenue – USD Million; 2016 – 2028)

Rigid

Flexible

Spray

Others

Polyurethane Foam End-Use Outlook (Volume – Kilo Tons; Revenue – USD Million; 2016 – 2028)

Automotive

Packaging

Electrical & Electronics

Furniture & Furnishing

Building & Construction

Footwear

Others

Polyurethane Foam Regional Outlook (Volume – Kilo Tons; Revenue – USD Million; 2016 – 2028)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

RoE

Asia Pacific

China

India

Japan

South Korea

RoAPAC

Latin America

Brazil

Mexico

Colombia

RoLATAM

Middle East & Africa

Saudi Arabia

South Africa

Israel

UAE

RoMEA

Key questions answered in the global chemical market report are:

· How does a global company acquire markets?
· What are its core strategies and policies?
· What factors will influence the chemical market over the forecast period?
· What are the factors driving and restraining the market for chemicals?
· What are the leading competitors in the global market?
· Which region is growing at a higher pace in the global market?

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Updated : 2022-05-18 15:48 GMT+08:00