With 7.4% CAGR, Polyurethane Foam Market Size Worth US$ 67.7 Billion in 2027

IMARC Group has recently released a new research study titled "Polyurethane (PU) Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the polyurethane (PU) foam industry?

The global polyurethane (PU) foam market size reached US$ 45.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 67.7 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027.

What is a polyurethane (PU) foam?

Polyurethane (PU) foam refers to a type of synthetic polymer obtained from a reaction of polyols and diisocyanate that are produced from crude oil. It is manufactured using a discontinuous (molded) process or through a continuous slabstock production process. PU foam is nontoxic, hypoallergenic, non-degradable, and protects against abrasion, temperature, moisture, corrosion and impact. As a result, it is extensively utilized for producing seats, mattresses, cushions, fillers, carpets, insulation panels, clothes and shoes.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the polyurethane (PU) foam market?

The global PU foam market is primarily driven by its increasing applications in various industries. In the construction sector, PU foams are used as insulating materials due to their unique physical properties and the ability to conserve energy. They are also employed in the automotive industry to enhance the functioning of various automobile components such as dashboards, airbags, armrests and exterior parts. Besides this, with rapid urbanization and the rising population, there has been an increase in bedding and furniture sales worldwide. This has escalated the demand for PU foams for use as the solid layer of foam molds to fit the body. Furthermore, PU foams are widely being used in refrigeration articles and packaging applications across the industrial sector since these foams reduce wastage and are highly recyclable in nature. Moreover, manufacturers are developing bio-based polyols for manufacturing PU foams as they release minimal carbon emissions into the environment.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Structure:

Open Cell
Closed Cell

Breakup by Product Type:

Flexible Foam
Rigid Foam
Spray Foam

Breakup by Density:

Low Density
Medium Density
High Density

Breakup by End-Use Industry:

Bedding and Furniture
Building and Construction
Electronics
Automotive
Packaging
Footwear
Others

By Geography:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:            

BASF SE
Covestro AG
Foamcraft Inc
Future Foam Inc
Huntsman International LLC. (Indorama Ventures Public Company Limited)
Recticel NV/SA
Rogers Corporation
Saint-Gobain S.A
Sekisui Chemical Co. Ltd
The Dow Chemical Company
Tosoh Corporation
UFP Technologies Inc
Wanhua Chemical Group Co. Ltd

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