Global polyurethane foam market is likely to rise from US$51.4 bn to US$74 bn over the 2017-2022 forecast period.
Albany, NY -- (SBWIRE) -- 11/22/2017 -- Polyurethane is a leading member of the wide-ranging and highly diverse family of polymers or plastics. It is widely utilized in cushion foams, interior components, and other lightweight automotive parts to foster fuel & energy savings. Similarly, it's one of the most important material Polyurethane foam (PUR foam) is also widely used in most household and building installations. According to the latest study findings, the polyurethane foam market has gained demand from such diverse end-use sectors as the construction industry, the automotive industry, and the packaging industry due to the favorable physical properties of polyurethane foam. To elaborate further, Market Research Hub (MRH) has announced the inclusion of a study titled, "Polyurethane Foam Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022" to its massive database, which provides a comprehensive look at the market by profiling the historical growth trajectory of the market from 2012 to 2017. With an extensive forecast period of 2017-2022, the study offers reliable insight into the growth trajectory of the market.
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As per the key findings, the global polyurethane foam market is anticipated to reach a valuation of US$51.4 bn by the end of 2017 and further rise to a valuation of more than US$74 bn by the end of 2022. Also, the global polyurethane foam market is likely to exhibit a strong 7.6% CAGR between 2017 and 2022. The diversity of end-use applications of polyurethane foam is one of the crucial factors responsible for the market growth.
Polyurethane foam is a flexible and lightweight material, which instantly puts it at an advantage against conventional materials in many end-use sectors. In addition, polyurethane foam is chemically stable and acts as an ideal insulating agent. There are two types of polyurethane foam depending on how it is applied, the rigid form and the flexible foam. It has been analyzed that the flexible polyurethane foam segment accounted for 50.2% of the global market in 2017, with a valuation of US$25.5 bn. By end use, the polyurethane foam market is segmented into heat and sound insulation, aesthetics and seating comfort, packaging safety, and dielectrics and adhesives.
APEJ to Dominate Global Polyurethane Foam Market
In the market overview section, an in-depth qualitative assessment of factors that are responsible for driving and limiting the growth of this market and for its future opportunities has been presented. For a better understanding of the global market for polyurethane foam, the analysts have broadcasted the market into Europe, APEJ, Latin America, North America, Japan and MEA. Amongst, Asia Pacific except Japan is the dominant regional market for polyurethane foam.
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Key Highlights from the study
- The increasing availability of advanced forms of polyurethane which enhances its structural as well as environmental sustainability is also likely to continue a major driver in the coming years.
- Growth of the construction and automotive industries is predicted to remain a vital driver for the global polyurethane foam market over the 2017-2022 forecast period.
- With the development of bio-based polyurethane which focuses on environmental viability is also contributing towards the market growth of polyurethane foams.
- Polyurethane market growth in APEJ is analyzed due to the factor of rising urbanization and construction industry in the region.
The final section of the report contracts with the competitive landscape which highlights the key players that are functioning in the polyurethane foam market along with details such as product portfolio, business positioning, financial standing, and SWOTs. Key companies in the global polyurethane foam market include BASF SE, The Dow Chemical Company, Nitto Denko Corporation, Compagnie DE Saint-Gobain SA, Trelleborg AB, Recticel SA, Tosoh Corporation, Chemtura Corporation, UFP Technologies Inc., and Covestro AG.
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