HOME › Press Releases › Polyurethane Foam Market worth 74.24 Billion USD by 2021
Polyurethane Foam Market worth 74.24 Billion USD by 2021
The report "Polyurethane Foam Market by Type (Flexible, Rigid, and Spray Foam), End-Use Industry (Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging), and Region - Global Forecast to 2021", The polyurethane foam market size is estimated to grow from USD 46.05 Billion in 2015 to USD 74.24 Billion by 2021, at a CAGR of 8.4% between 2016 and 2021. Factors such environment sustainability & energy conservation, versatility & unique physical properties of polyurethane foam, and growth of end-user industries in emerging nations are some of the factors driving the polyurethane foam market.
Browse 199 market data Tables and 68 Figures spread through 236 Pages and in-depth TOC on "Polyurethane Foam Market by Type (Flexible, Rigid, and Spray Foam), End-Use Industry (Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging), and Region - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
Building & construction end-use industry segment held the maximum market share in 2015
The building & construction segment dominated the market in 2015 and is projected to grow at a moderate rate during the forecast period. Polyurethane foam finds multiple applications in the building & construction industry. Flexible and semi-rigid foams are used in paints, coatings, and adhesives, which are extensively used in construction. Rigid foams are widely used as structural and insulation foams in buildings. Insulation is the most important application of polyurethane foams in the building & construction industry. Polyurethane foams are viewed as a reasonable and safe mode for reducing carbon emissions that prompt global warming.
Spray foam to witness the highest growth during the forecast period
Spray foam is basically a low-to-medium density foam. This foam primarily has two functions: insulation (both as open cell and closed cell) and flotation & roofing. It is also used for packaging applications. Spray foam is the fastest growing polyurethane foam type due to its increased utilization. Growth in the end-user industries, such as building and construction, is expected to boost the demand for spray foams in the coming years.
Asia-Pacific region to be the largest market for polyurethane foam during the forecast period
The Asia-Pacific region leads the market due to its large population and its growing market for end-use industries, such as bedding & furniture, building & construction, electronics, automotive, footwear, and packaging which directly impact the growth of the polyurethane foam market. As polyurethane foam has widespread application in all these end-use industries, the Asia-Pacific region, which is witnessing major growth in these sectors, has become a large market for it. North America is the second largest market for polyurethane foam, followed by Europe, the Middle East, South America, and Africa.
The global polyurethane foam market is dominated by players, such as BASF SE (Germany), The Dow Chemical Company (U.S.), Bayer AG (Germany), Sekisui Chemical Co. Ltd. (Japan), Nitto Denko Corporation (Japan), Compagnie de Saint-Gobain S.A. (France), Huntsman Corporation (U.S.), Wanhua Chemical Group Co., Ltd. (China), Trelleborg AB (Sweden), Tosoh Corporation (Japan), Chemtura Corporation (U.S.), INOAC Corporation (Japan), Recticel NV/SA (Belgium), Vita (Lux III) S.à r.l. (Luxembourg), Armacell GmbH (Luxembourg), Foamcraft, Inc. (U.S.), FoamPartner Group (Switzerland), Future Foam, Inc. (U.S.), FXI-Foamex Innovations (U.S.), Rogers Corporation (U.S.), UFP Technologies, Inc. (U.S.), and The Woodbridge Group (Canada).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India