Albany, NY -- (SBWIRE) -- 09/28/2017 -- According to a new market study from Transparency Market Research (TMR), titled "Colored PU Foams Market : Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019", the global colored PU foams market is poised to exhibit a modest 7.8% CAGR from 2013 to 2019. TMR states that the global colored PU foams market will be valued at US$17.59 billion by 2019, increasing from US$9.02 billion in 2012.
Colored PU foams have applications in several industries such as furniture and interiors, electronics appliances, automotive, packaging, sports and leisure, construction, and footwear, among others. Of all of these, the furniture and interiors and construction sectors held the two largest market shares of the global colored PU foams market, accounting for the maximum demand for colored PU foams. However, surging demand for colored PU foams for electronics appliances will lead to substantial growth of the colored PU foams market in coming years. Increasing use of colored PU foams in cushion seats, cushioned panels, and head rests in the automotive industry will accentuate growth of the market in near future, as analyzed in the report.
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With the booming construction industry and rapid urbanization in BRIC countries, the overall colored PU foams market is witnessing significant growth. The expanding automotive sector in Asia Pacific is also expected to drive demand for colored PU foams in the near future. Factors such as volatile feedstock prices and environmental concerns regarding the use of these materials will slow down the growth of the market. However, development of biobased PU foams will address such concerns, which have the potential to hinder growth of the colored PU foams market.From a geographical viewpoint, North Africa and the Middle East are set to exhibit above-average growth rates in the global colored PU foams market in the near future. In 2012, North America represented the largest colored PU foams market, followed by Europe. The dominance of these regions is attributed to high demand from the automotive and furniture industries.
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However, Asia Pacific is set to exhibit the highest growth rate in the global PU foams market during the forecast period.Driven by the burgeoning automotive and consumer electronics industries, the colored PU foams market in the region is expected to grow at a 5.9% CAGR between 2013 and 2019.Based on the cell structure, colored PU foams are classified into two types: flexible PU foams and rigid PU foams.
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Of the two, flexible PU foams are most used, as they add to the comfort, flexibility, and aesthetics of the products. For such reasons, this product segment accounted for nearly 57% of the market in 2012. On the other hand, rigid colored PU foams offer energy efficiency, versatility, high performance, and thermal resistance. These find application as insulating material in wall insulation, refrigerators, floor insulation, and chillers.Profiled in the report are top companies in the global colored PU foams market, which are Saint-Gobain Performance Plastics Corporation, Rogers Corporation, Huntsman Corporation, Bayer MaterialScience AG, Recticel SA, The Dow Chemical Company, and BASF SE.
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