The global microcellular polyurethane foam market was valued at USD 5.06 Billion in 2015, and is projected to reach USD 6.95 Billion by 2021, at a CAGR of 5.5% between 2016 and 2021. The market is projected witness significant growth in the coming years, owing to the rising demand for lightweight materials from various industries, such as automotive, aerospace, and construction.
Seattle, United States -- (SBWIRE) -- 11/26/2016 -- The report "Microcellular Polyurethane Foam Market by Type (Low Density Foam, High Density Foam), Application (Automotive, Building & Construction, Electronics, Medical, Aerospace, Others), Region (North America, Europe, APAC, MEA, RoW) - Global Forecast to 2021", is projected to reach USD 6.95 Billion by 2021 growing at a CAGR of 5.5% due to the increasing demand of light-weight materials by the various end-use industries, major ones being automotive, building & construction, electronics, and aerospace.
Browse 150 market data tables with 61 figures spread through 169 pages and in-depth TOC on "Microcellular Polyurethane Foam Market - Global Forecast to 2021"
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High density foams segment dominated the global microcellular polyurethane foam market in 2015
Among the types, the high density foam accounts for the largest share in the microcellular polyurethane foam market. It is projected to be the fastest-growing type of the microcellular polyurethane foam market between 2016 and 2021. Support, durability, and high foam performance are the key properties of high density foams which are required by varied manufacturing industries. It provides products of high quality standard, thus meeting the growing demand of consumers across the globe.
Automotive is the fastest-growing application segment during the forecast period
The automotive application segment accounts for the largest share in the global microcellular polyurethane foam market, and is the fastest growing application segment in this market. The durability and light weight properties, combined with their strength, make microcellular polyurethane foams ideal not only for cushioning purposes, but also within the bodies of cars, where their insulation properties provide protection against heat and noise of the engine.
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Asia-Pacific dominates the global microcellular polyurethane foam market in 2015
Asia-Pacific is the fastest-growing market, as the region is a major consumer of microcellular polyurethane foams. There is an increasing demand for polyurethane foams from both developed and emerging countries of this region, such as Japan, China, India, and others. Top manufacturers from the U.S. and Europe are now focusing on Asia-Pacific to meet the region's growing demand. Increasing affluence and consumer spending in emerging economies, such as India and China, are also expected to drive the demand for microcellular polyurethane foams.
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An in-depth market share analysis, in terms of revenue, is also included in the report. These numbers are arrived at based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders such as CEOs, directors, and marketing executives. Some of the major market players in this market are BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), Evonik Industries (Germany), Era Polymers (Australia), and others.
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