Dublin, Sept. 23, 2020 (GLOBE NEWSWIRE) -- The "Polyurethane Foam Market by Type (Rigid Foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging, Others), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Polyurethane Foams Market is Projected to Grow from USD 37.8 Billion in 2020 to USD 54.3 Billion by 2025, at a CAGR of 7.5% from 2020 to 2025
One of the key factors driving the growth of the polyurethane foam market includes the growing end-use industries in emerging economies. End-use industries such as construction, electronics, and automotive are expected to flourish in emerging economies, including China, India, Indonesia, and Thailand, during the forecast period. This, in turn, is expected to contribute to the growth of the polyurethane foam market.
Polyurethane foams are extensively used in the bedding & furniture, building & construction, electronics, and automotive industries. Flexible polyurethane foams are mainly used in the automotive sector for cushioning applications. These foams are considered among the most effective insulation materials available in the market, thereby making them suitable for the electronics industry for use in refrigerators and freezers. The construction industry is another key consumer of rigid polyurethane foam for use as coatings and sealants & adhesives.
Rigid foam is estimated to lead the polyurethane foam market, by type in terms of value during the forecast period
By type, rigid foams are estimated to be the largest segment in the polyurethane foam market in 2020. It is primarily used as insulating foams and structural foams in commercial and residential construction. They are used in foam roofing boards and laminate insulations. These foams are also used as insulations in various electrical appliances such as water heaters, refrigerators, coolers, vending machines, and freezers. The unique combinations of properties of rigid foams such as high strength, lightweight, and low-density structure allow them to be used in diverse applications including thermal insulation and air barrier sealants.
Bedding & furniture end-use industry is estimated to dominate the polyurethane foam market.
By end-use industry, bedding & furniture is estimated to dominate the global polyurethane foam market. pillows and mattresses, bedding applications in hospitals, carpet cushions, boat berths, vehicular seating, aircraft seating, residential & commercial furniture, and office furniture are some of the common applications of polyurethane foam in the bedding & furniture industry. Flexible polyurethane foams are preferred for bedding and upholstery applications owing to the high resiliency offered by them, while rigid polyurethane foams are predominantly used in simulated wood furniture. These factors are driving the demand for polyurethane foam in the bedding & furniture end-use industry.
Asia Pacific polyurethane foam market is projected to grow at the highest CAGR during the forecast period, in terms of value.
The Asia Pacific is projected to be the fastest-growing market for polyurethane foam during the forecast period. Growing demand for polyurethane foams from various industries as well as the rising footprint of the global players dealing in polyurethane foams is expected to drive the polyurethane foams market in the region.
The polyurethane foam market report is dominated by players, such as Covestro AG (Germany), BASF SE (Germany), Wanhua Chemical Group Co., Ltd. (China), Dow Inc. (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), Bayer AG (Germany), and Chemtura Corporation (Lanxess) (US).
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