About Polyurethane Foam
Polyurethane foam is one component, curing with moisture in the air, expanding while curing, semi-rigid in aerosol form for installation, grouting, and insulation material. They are mainly used for the assembly of doors and windows, sound and heat insulations, infilling applications, waterproof barriers and insulation against fire. The factors such as High Demand for Polyurethane Foam for Building and Construction Applications and Increasing Use of Polyurethane Foam in the Bedding and Furniture Industry are the key drivers for the global Polyurethane Foam market. In addition, Rise in the Demand for Bio-based Polyurethane Foam also fueling the growth of the market. However, the High Raw Material Cost of Polyurethane Foam and Stringent Government Rules and Regulations about Environmental Pollution may hamper the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.1% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Polyurethane Foam market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Dow Chemical Company (United States), Huntsman Corporation (United States), Nitto Denko Corporation (Japan), Bayer AG (Germany), Compagnie de Saint-Gobain S.A. (France), Sekisui Chemical (Japan), Trelleborg AB (Sweden), Tosoh Corporation (Japan), INOAC Corporation (Japan), Vita Group (United Kingdom), Recticel (Belgium), Foamcraft, Inc. (United States), Wanhua Chemical Group Co., Ltd. (China), Shaoxing Hengfeng Polyurethane Industry Co. Ltd. (China), Future Foam Inc. (United States) and Fxi-Foamex Innovations (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are UFP Technologies, Inc. (United States) and Woodbridge Group (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Polyurethane Foam market by Type (Rigid and Flexible), Application (Building & Construction, Automotive, Bedding & Furniture, Electronics, Packaging and Others) and Region.
On the basis of geography, the market of Polyurethane Foam has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Density, the sub-segment i.e. Low-Density will boost the Polyurethane Foam market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in the Demand for Bio-based Polyurethane Foam
Market Growth Drivers:
High Demand for Polyurethane Foam for Building and Construction Applications and Increasing Use of Polyurethane Foam in Bedding and Furniture Industry
Challenges:
Stringent Government Rules and Regulations about Environmental Pollution
Restraints:
High Raw Material Cost of Polyurethane Foam
Opportunities:
Growing Demand from Emerging Markets such as China and India and Increasing Demand from End-users
Market Leaders and their expansionary development strategies
In 2020, Huntsman Corporation acquired Icynene-Lapolla. The acquisition of Icynene-Lapolla is aligned with Huntsman's strategy of growing its downstream polyurethanes business. The combination of Icynene-Lapolla with Demilec, the SPF business Huntsman acquired in 2018, will create the world's leading supplier of spray foam products used to insulate commercial and residential structures.
In 2021, Vita Group announced the acquisition of Technical Foam Services (TFS). TFS will bring enhanced technical foam conversion capacity and capability to The Vita Group, as well as bring an even greater level of service and access to product and conversion expertise for customers.
Clean Air Act is based on the Administrator's determination that emissions from the fabrication of flexible polyurethane foam cause or contribute significantly to air pollution which may reasonably be anticipated to endanger public health or welfare. Molded foam, rebond foam, and foam fabrication area source facilities that operate loop slitters must prepare, and keep on file, compliance certifications that certify that the facility is not using the prohibited methylene-chloride-based products. The area source plants must also maintain records documenting that the products they are using do not contain any methylene chloride.
Key Target Audience
Polyurethane Foam Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.