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Energy Industry News Releases

Polyurethane Foam Market, Size, Share and Forecast 2019-2026

 



(EnergyIndustry.Net, December 24, 2019 ) Market Overview

The growth of the polyurethane foam market can be attributed to the increasing demand for polyurethane foam from the bedding & furniture and building & construction end-use industries. Significant investments in new infrastructure development, new housing projects, and renovation of non-residential buildings in the US, China, India, and Brazil have also influenced the growth of the polyurethane foam market. In the U.S. New York city saw an increase in hospitality and residential projects as the city remains a popular tourist location and that demand for housing (including apartments and condominiums) has been on the rise.



It is expected that increased infrastructure spending will trigger additional activity, as more than 300 high-rise buildings projects are up for development.



Growing internet penetration and mobile connectivity in the region are the major factors driving the PU Foam market in Asia Pacific. There have been lot of initiatives by governments of developing countries like India and China to provide better infrastructure and facilities to each and every part of their respective countries.



The Global Polyurethane Foam Market is valued at USD 43.60 Bn in 2018 and is estimated to grow at a CAGR of 6.46% over the forecast period to reach a USD 71.80 Bn by 2026.



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Market Dynamics

Building improvements and upgrades with government support on energy efficiency, emergence of bio-based PU foams and rapid urbanization in developing countries are the major driving factors for the growth of the market. The burgeoning demand from the building and construction sector owing to the boost in infrastructural projects is likely to fuel growth in global PU Foam market. Especially in developing countries like India, Brazil, and China, the expanding home furnishing sector owing to the growing middle class and disposable income is likely to provide opportunities for the polyurethane foam market.



Flexible polyurethane foams are used for cushioning application in the furniture and bidding industry and is extensively preferred as they provide thin profile cushion and comfort. The growth of revenue in the industry will be driven by the increasing demand for premium and designer furniture. Increasing packaged beverage and food industry in Asia Pacific tied with strong demand for corrugated boxes are anticipated to drive consumption in packaging applications. Therefore, driving the global PU Foam market.



However, environmental regulations and health hazard on use of TDI and MDI as a raw material in production of PU foams are the key restraints hindering the market growth worldwide. According to Agency for Toxic Substances and Disease Registry, the health effects of TDI and MDI depend on how much a consumer is exposed to and the length of that exposure. Respiratory effects, including a decrease in lung function, have been reported in workers exposed to TDI or MDI. Asthma and symptoms of asthma, such as wheezing and shortness of breath, have been observed in some individuals who are particularly sensitive to the toxicity of TDI and MDI. These health hazard can hamper the market growth during the forecast period



Market Segmentation

By source, the polyurethane foam market is segmented into flexible foam, rigid foam and molded fom. The Flexible Foam segment of the Global PU Foams market was valued at USD 21.76 Bn in 2018 and is estimated to grow at a CAGR of YY % over the forecast period to reach a USD YY Bn by 2026. PUs are one of the most important class of polymers that are used in everyday life products. Flexible polyurethane foam (FPF) is used as cushioning for a wide variety of consumer and commercial products including furniture, carpet cushion, transportation, bedding, packaging, textiles and fibers.



FPF usage consists mostly of slabstock, which is used primarily for carpet cushion and furniture. Most of the remainder is used by the transportation industry for automotive interiors and other purposes. FPF cushions upholstered furniture, office chairs, stadium seating and auditorium seating. As a cushioning material, FPF provides the benefits such as support and comfort, durability, resiliency, energy absorption, and handling strength. FPF is used extensively in the transportation industry for seating, headrests, arm rests, interior panels and skins, car and truck fenders, truck beds and other interior systems

.

By application, the polyurethane foam market is segmented into bedding & furniture, bulding and construction, electronics, automotive and others. The Bedding and Furniture segment of the Global Polyurethane Foam Market is valued at USD 21.10 Bn in 2018 and is estimated to grow at a CAGR of YY % over the forecast period to reach a USD YY Bn by 2026. Flexible polyurethane foams are soft, yet provide good support, durable, and maintain their shape. They are an excellent and safe filling material for seating cushions and mattresses and can be produced to the density required by the manufacturer.



Their versatility allows designers to use the full scope of their imagination when creating new products. The major applications of polyurethane foam in the furniture segment are upholstered furniture cushions, automotive seat cushions and interior trim, carpet cushion, and mattress padding and solid-core mattress cores. Memory foam is a popular form of polyurethane, which adapts to the shape of a person’s body, ensuring restful sleep. It is widely used in hospitals, where it helps to prevent pressure sores in people who are bed-bound over long periods of time.



Geographical Analysis

The North America Polyurethane Foam Market is valued at USD 8.97 Bn in 2018 and is estimated to grow at a CAGR of YY % over the forecast period to reach a USD YY Bn by 2026. The North America Market consists of the US, Canada and Mexico regions. Polyurethanes are widely used in car manufacture, offering real benefits in terms of comfort, protection and energy conservation. Polyurethane foams can be found in seats, armrests and headrests of most cars, where their cushioning properties help to reduce the fatigue and stress often associated with driving. Their durability and light weight, combined with their strength, make them ideal not only for cushioning purposes, but also within the bodies of cars, where their insulation properties provide protection against the heat and noise of the engine.



The Asia Pacific Polyurethane Foam Market is valued at USD 20.05 Bn in 2018 and is estimated to grow at a CAGR of YY % over the forecast period to reach a USD YY Bn by 2026. The Asia Pacific market covers China, Japan, South Korea, India, Australia, and Rest of Asia Pacific in its scope. The growth in the industry is mainly due to rapid industrialization and growing middle class population and spending power that lead to increased investment in advanced consumer electronics and automotive. The growth is mainly supported by developing economies, such as India, China, and Japan. Due to the large pool of population, with increasing technological transformation such as from 3G to 4G, and ongoing developments for 5G, which doubles the need for electronics will further drive the growth of polyurethane foam products in the forecast period. The growing sales of consumer electronics such as smartphones, tablets, laptops and others are the major factors responsible for the growth of the Asia Pacific.



Competitive Landscape

The global polyurethane foam market is competitive with the large number of regional and international players. The companies are competing based on the price, product specifications, and market presence.

The global polyurethane foam market share is characterized by competition based on prices and service provided to clients. Major industry participants are based in the U.S. and China.



Major companies include Dow chemical company, BASF, Covestro AG, and Lanxess AG.

In May 2018, Recticel Flexible Foams opened a new facility in Wuxi. The site – which will operate a state-of-the-art polyurethane moulding line and converting facilities – with commitment to further investment and expansion in China.



In March 2018, FXI, in an exclusive agreement with Biocrystal Technologies, has introduced Regenerist™ with Biocrystal®, a unique foam infused with Biocrystal® to provide better sleep and improved performance.



In April 2018, FXI product portfolio now includes new innovative foam products as AEROFONIC®, HYFONIC™, HYFONIC™NATURAL, QYLITE™, DURABSORB™, PYRELL™, ARESTO™, SIF®.



View full report: https://www.datamintelligence.com/research-report/polyurethane-foam-market



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About Us

DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.



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Sai Kiran

Sales Manager at DataM Intelligence

Email: info@datamintelligence.com

Tel: +1 877 441 4866

Website: www.datamintelligence.com



DataM Intelligence

Sai Kiran

+1 877 441 4866

pr@datamintelligence.com

Source: EmailWire.Com

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