Albany, NY -- (SBWIRE) -- 04/30/2014 -- According to a new report published by Transparency Market Research "Colored PU Foams (Flexible PU Foams and Rigid PU Foams) Market for Furniture & Interiors, Construction, Electronic Appliances, Automotive, Footwear, Packaging and Other Applications: Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019", the global demand for the colored PU foams was valued at USD 9.02 billion in 2012 and is expected to reach USD 17.59 billion in 2019, growing at a CAGR of 7.8% between 2013 and 2019.
Browse Global Colored PU FoamsMarket Report with full TOC at http://www.transparencymarketresearch.com/colored-pu-foams-market.html
Huge demand from furniture and interiors coupled with growing construction industry has been driving the colored PU foams market for the past few years. Developments in automobile and construction industries in Asia Pacific region are likely to be the major factors driving the demand for colored PU foams over the years. Moreover, rising demand for colored PU foams from packaging applications is projected to fuel growth within the forecast period. However, volatile raw material prices and environmental regulations related to diisocynates are expected to restrain the market. Although, rising demand from bio based PU foams and huge demand from the Middle East and North Africa region is likely to open more opportunities for the growth of the colored PU foams market over the next few years.
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Flexible colored PU foams was the most used colored PU foams and accounted for around 57% of the global demand in 2012. The demand for flexible colored PU foams was high due to huge demand from furniture, packaging and automotive industries. However, rigid colored PU foams are expected to show the fastest growth over the next few years owing to their rising demand from construction and electronics market.
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Furniture and interiors were the largest application segment for colored PU foams in 2012. The colored PU foams are being largely used in chairs, luxury couches, carpets, and mattresses among others. Construction was the second largest application for colored PU foams and is expected to show similar growth in the coming years. However, the demand for colored PU foams is expected to be growing from the electronics appliances and automotive industries over the forecast period. The demand in the automotive industry sowing to usage of colored PU foams in seats cushion, panels and headliners.
North America dominated the colored PU foam market in 2012 followed by Europe owing to the growth of furniture and interiors industry especially with rise in demand for comfortable couches and beddings. Asia Pacific is expected to witness the highest growth within the forecast period on account of huge demand from electronics and automotive markets. The demand for colored PU foams in Asia Pacific is expected to grow at a CAGR of 5.9% between 2013 and 2019.