Polyurethane Foam Market- Uses, Growth, and Opportunity Analysis

Polyurethane foam is a synthetic polymer that offers sequestration and protection to accouterments against bruises, temperature, humidity, impact, and erosion. It enhances the severity, continuity, and strength of the structure by furnishing artificial roof sequestration systems. The report?"Polyurethane Foam Market ?by Type (Rigid Foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging) and Region - Global Forecast to 2026. The market is witnessing average growth across the world due to factors such as, growing end-use industries in emerging economies, increased use of polyurethane foams in building insulations for energy conservation and versatility and unique physical properties of polyurethane foams.

Key players are 科思创 AG (Germany), 巴斯夫 SE (Germany), 万华化学 Co., Ltd. (China), 陶氏化学 Inc. (US), 亨斯迈集团 (US), SEKISUI CHEMICAL ., Ltd. (Japan), Compagnie de Saint-Gobin -Gobain SA (France), 拜耳 AG (Germany), Chemtura Corporation (Lanxess) (US), 杜邦 (US), Recticel NV/SA (Belgium), Rogers Communications (US), UFP Technologies , Inc. (US), INOAC CORPORATION (Japan), Trelleborg Group AB (Sweden), FXI (US), Armacell (Luxembourg), EUROFOAM ITALY SRL Group (Austria), WOODBRIDGE FOAM (UK) LIMITED Corporation (Canada), Future Foam, Inc. (US), Tosoh Corporation (Japan),? Foamcraft, Inc. (US),?and others.

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Recent Developments

• In June 2021, Rogers Corporation announced the launch of a product designed to meet the need for high-performing materials that facilitate the design of thinner and lighter electronic devices. PORON AquaPro 37TS9 delivers reliable water sealing capabilities in an ultra-thin self-adhesive form.
• In January 2020, Covestro AG collaborated with Recticel NV/SA to develop mattresses from end-of-life mattresses. This collaboration aims at creating a circular economy in the polyurethane foam market that is expected to help both the companies in reducing the use of raw materials for the production of polyurethane foams.
• In August 2019, Wanhua Chemical Group Co., Ltd. acquired a 100% stake in Chematur Technologies AB (Sweden) for USD 134 million. The acquired company is a leading provider of raw materials for polyurethane foams and supplies MDI, TDI, and hydrogen peroxide products. This acquisition strengthened the position of Wanhua Chemical Group Co., Ltd. in the polyurethane foam market.?

By type, rigid foam is estimated to dominate the polyurethane foam market, globally, in terms of value. Factors, such as reduced energy costs, application as insulating foams and structural foams in commercial and residential constructions, as well as use of rigid foams for insulations in various electrical appliances such as water heaters, refrigerators, coolers, vending machines, and freezers, are expected to propel the demand for rigid foams in global polyurethane foam market.

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By end-use industry, automotive segment is projected to record the highest growth in the global polyurethane foams market, during the forecast period. The high growth of the automotive end-use industry segment is majorly attributed to the surge in demand for lightweight vehicles, which in -turn encourages the use of polyurethane foams in this segment.

The Polyurethane Foam market in the Asia Pacific region is accounted for the largest share in 2020. China, India, Japan, and South Korea are key countries contributing to the high demand for Polyurethane foam in this region. Innovation, price deflation, and rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the Polyurethane foam market in this region.

"The polyurethane foams market is projected to grow from USD 42.8 billion in 2021 to USD 61.5 billion by 2026, at a CAGR of 7.5% from 2021 to 2026."