The research “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 2028” projects that the market will expand at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2028, from USD 49.5 billion in 2023 to USD 67.8 billion. Due to the expanding end-use industries in emerging economies, the growing usage of polyurethane foams in building insulation for energy conservation, and the adaptability and unique physical features of polyurethane foams, the market is growing at an average rate globally.
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Peruse the “Polyurethane Foam Market – Global Forecast to 2028” in-depth TOC along with 398 market data tables, 45 figures, and 312 pages.
Among the well-known pivotal figures are:
The German company Covestro AG
· German company BASF SE
The Chinese company Wanhua Chemical Group Co., Ltd.
· Dow Jones Inc. (US)
· The US-based Huntsman Corporation
· Sekisui Chemical Co., Ltd., a Japanese company
· Compagnie de Saint-Gobain SA, located in France
· DuPont, Inc. (US)
· Recticel SA/NV (Belgium)
Possibility: Increased manufacturing of bio-based polyols
Polyurethane foams are mostly made with polyols. In the polyurethane sector, the emergence of bio-based polyols is a noteworthy and encouraging trend. Biopolyols, as opposed to conventional petroleum-based polyols, are more environmentally friendly and sustainable because they are made from renewable resources such waste materials, agricultural residues, and plant-based oils. Growing environmental concerns, a greater understanding of the carbon footprint, and a need for more sustainable manufacturing methods are the main drivers of this shift towards bio polyols.
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According to estimates, rigid foam accounts for the largest portion of the worldwide polyurethane foam market by type.
According to estimates, rigid foam accounts for the majority of the worldwide polyurethane foam market in terms of value. Rigid polyurethane foam grew mostly because of the automotive sector. Because of its lightweight yet robust qualities, it is widely utilized in structural components and vehicle interiors for soundproofing and insulation. Rigid polyurethane foam has emerged as a vital component as automakers concentrate on lightening their vehicles to improve electrification and fuel economy.
The Polyurethane Foam market was dominated by the Asia Pacific regional segment.
In 2022, the Asia Pacific region held the highest share of the polyurethane foam market. South Korea, Japan, China, and India are the four main markets for polyurethane foam. The Asia-Pacific area has become a global center for automobile manufacturing, mostly due to the impressive growth of the automotive sector in the region. Because it is strong, lightweight, and absorbs sound, polyurethane foam is widely used in insulation and car interiors. The market for polyurethane foam in this industry is growing as consumer desires for quiet, comfortable cars continue to rise.
