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The Polyurethane Foams Market is expected to increase at a CAGR of 7.4%, from USD 49.6 billion in 2023 to USD 93 billion in 2032. Growing end-use sectors such as electronics, bedding & furniture, building & construction, and automotive in emerging nations like as India, Thailand, and others are among the primary drivers of the polyurethane foams market. Other factors driving the growth of the polyurethane foams market include the rising usage of polyurethane foams in building insulation for energy conservation.
Over the projection period, the emergence of various end-user sectors in emerging nations is expected to promote global polyurethane foam growth. The Global Polyurethane Foam Market study offers a comprehensive analysis of the industry.
Drivers
In a range of building products and other uses, polyurethane foams are utilised as insulation, adhesives, sealants, and binders. Polyurethane foams are highly flexible materials that assist lower total infrastructure costs by reducing building energy consumption. They allow architects to better insulate buildings, lowering gas, oil, and electricity use. As a result, polyurethane foams are being used more frequently for building insulation.
Restraint
The strict environmental restrictions created by the US Environmental Protection Agency (EPA) for new and existing plant sites engaged in the manufacturing of flexible polyurethane foams are a major stumbling block to the expansion of the polyurethane foam industry.
Opportunity
Polyols are primarily utilised in the production of polyurethane foams. Concerns about the usage of fossil fuels and the environmental impact of plastics have prompted the polyurethane foam sector to strive for more environmentally friendly business practises. Bio-derived materials, such as soy-based polyols, provide considerable sustainability and cost-effectiveness advantages over conventional polyols. They also cut down on the use of petroleum-based raw materials. These considerations provide polyurethane manufacturers with an opportunity to minimise their reliance on petroleum-based raw materials for the creation of polyurethane foams while simultaneously lowering their manufacturing costs.
Challenge
The high costs of essential feedstock materials used in the production of polyurethane foams, such as toluene diisocyanate, methyl di-p-phenylene, and polymeric isocyanate, result in higher polyurethane foam production costs. These variables make regulating manufacturing costs difficult for polyurethane foam makers.
The worldwide execution of COVID-19 lockdowns brought about an impressive drop in MDI interest from March to June 2020. The vital clients in Asia Pacific either dropped or deferred their development orders. The decrease sought after for MDI in Europe was to a great extent because of a drop popular for polyurethane froths from the vehicle area. The episode and spread of COVID-19 has brought about a TDI shortage in significant spots all over the planet. Most of polyurethane producers have stopped tasks, and numerous nations have shut their ports, forestalling products transportation. Thus, various TDI orders have been dropped.
By Type
Flexible Foams
Rigid Foams
Spray Foams
By Density Composition
Low-Density Polyurethane Foams
Medium-Density Polyurethane Foams
High-Density Polyurethane Foams
By End-use Industry
Bedding & Furniture
Building & Construction
Automotive
Electronics
Footwear
Packaging
Others
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Some of the key players in the market include Covestro AG, BASF SE, Wanhua Chemical Group Co., Ltd., Dow Inc., Huntsman Corporation, Sekisui Chemical Co., Ltd., Saint-Gobain, and others.
Report Attributes | Details |
---|---|
Market Size in 2022 | US$ 49.6 Billion |
Market Size by 2030 | US$ 93 Billion |
CAGR | CAGR of 7.4% From 2024 to 2032 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Type (Flexible Foams, Rigid Foams, Spray Foams) • By Density Composition (Low-Density Polyurethane Foams, Medium-Density Polyurethane Foams, High-Density Polyurethane Foams) • By End-Use Industry (Bedding & Furniture, Building & Construction, Automotive, Electronics, Footwear, Packaging, Others) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Company Profiles | Covestro AG, BASF SE, Wanhua Chemical Group Co., Ltd., Dow Inc., Huntsman Corporation, Sekisui Chemical Co., Ltd., Saint-Gobain, and others. |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Key Stakeholders Considered in the study:
Raw material vendors
Distributors/traders/wholesalers/suppliers
Regulatory authorities, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade/Industrial associations
End-use industries are the stake holder in this report
Ans: The worldwide execution of COVID-19 lockdowns brought about an impressive drop in MDI interest from March to June 2020. The vital clients in Asia Pacific either dropped or deferred their development orders. The decrease sought after for MDI in Europe was to a great extent because of a drop popular for polyurethane froths from the vehicle area. The episode and spread of COVID-19 has brought about a TDI shortage in significant spots all over the planet.
Ans: The high costs of essential feedstock materials are the challenges faced by the Polyurethane Foam Market.
Ans: From 2021 to 2028, the global polyurethane foams market is expected to increase at a CAGR of 7.5 percent, from USD 46.1 billion in 2022 to USD 71.00 billion in 2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Polyurethane Foam Market Segmentation, By Type
8.1 Flexible Foams
8.2 Rigid Foams
8.3 Spray Foams
9. Global Polyurethane Foam Market Segment, By Density Composition
9.1 Low-Density Polyurethane Foam
9.2 Medium-Density Polyurethane Foams
9.3 High-Density Polyurethane Foams
10. Global Polyurethane Foam Market Segment, By End-use Industry
10.1 Bedding & Furniture
10.2 Building & Construction
10.3 Automotive
10.4 Electronics
10.5 Footwear
10.6 Packaging
10.7 Others (Appliances, Textiles & Apparel, and Transportation)
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Covestro AG (Germany)
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 BASF SE (Germany)
12.3 Wanhua Chemical Group Co., Ltd. (China)
12.4 Dow Inc. (US)
12.5 Huntsman Corporation (US)
12.6 Sekisui Chemical Co., Ltd. (Japan)
12.7 Saint-Gobain (France)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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