IMARC Group, a leading market research company, has recently releases report titled “Polyurethane (PU) Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global polyurethane (PU) foam market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the polyurethane (PU) foam market?
The global polyurethane (PU) foam market size reached US$ 48.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 71.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
What is polyurethane (PU) foam?
Polyurethane (PU) foam refers to a type of synthetic polymer obtained from a reaction of polyols and diisocyanate that are produced from crude oil. It is manufactured using a discontinuous (molded) process or through a continuous slabstock production process. PU foam is nontoxic, hypoallergenic, non-degradable, and protects against abrasion, temperature, moisture, corrosion and impact. As a result, it is extensively utilized for producing seats, mattresses, cushions, fillers, carpets, insulation panels, clothes and shoes.
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What are the growth prospects and trends in the polyurethane (PU) foam industry?
The global PU foam market is primarily driven by its increasing applications in various industries. In the construction sector, PU foams are used as insulating materials due to their unique physical properties and the ability to conserve energy. They are also employed in the automotive industry to enhance the functioning of various automobile components such as dashboards, airbags, armrests and exterior parts. Besides this, with rapid urbanization and the rising population, there has been an increase in bedding and furniture sales worldwide. This has escalated the demand for PU foams for use as the solid layer of foam molds to fit the body. Furthermore, PU foams are widely being used in refrigeration articles and packaging applications across the industrial sector since these foams reduce wastage and are highly recyclable in nature. Moreover, manufacturers are developing bio-based polyols for manufacturing PU foams as they release minimal carbon emissions into the environment. On account of these factors, the market is expected to grow at a CAGR of 7.1% during the forecast period (2023-2028).
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Structure:
- Open Cell
- Closed Cell
Breakup by Product Type:
- Flexible Foam
- Rigid Foam
- Spray Foam
Breakup by Density:
- Low Density
- Medium Density
- High Density
Breakup by End-Use Industry:
- Bedding and Furniture
- Building and Construction
- Electronics
- Automotive
- Packaging
- Footwear
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Covestro AG
- Foamcraft Inc.
- Future Foam Inc.
- Huntsman International LLC. (Indorama Ventures Public Company Limited)
- Recticel NV/SA
- Rogers Corporation
- Saint-Gobain S.A.
- Sekisui Chemical Co. Ltd.
- The Dow Chemical Company
- Tosoh Corporation
- UFP Technologies Inc.
- Wanhua Chemical Group Co. Ltd.
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