February 24, 2021 11:03 US Eastern Time | Source: Market Research Future Market Research Future
Pune, India, February 24, 2021 (Global News Agency)-Polyurethane foam market forecast:
Market Research Future (MRFR) predicts that the polyurethane foam market will obtain an astonishing valuation of USD 76.06 billion by 2027, and will expand at a rate of 7.2% from 2019 to 2027 (assessment period).
The main reason for the strong expansion of the polyurethane foam market may be the increasing demand in important end industries such as electronics, bedding and furniture, construction and construction, and automobiles. These industries are growing at an alarming rate, especially in developing countries such as Thailand and India, which has promoted the use of polyurethane foam. The unique and attractive physical properties of PU foam help to increase demand, which in turn benefits the global industry to a large extent.
Polyol is a key ingredient used to make polyurethane foam. Concerns about fossil fuel consumption and the negative impact of plastics have prompted the polyurethane foam market to strive for more sustainable methods. Compared with traditional polyols, bio-based materials (such as soy-based polyols) have a series of advantages in terms of sustainability and cost-effectiveness. For polyurethane manufacturers, this may be an important opportunity because they can reduce their reliance on petroleum-based raw materials to produce polyurethane foam.
Get free sample PDF manual @ https://www.marketresearchfuture.com/sample_request/1697
The polyurethane foam market is flooded with many global companies that are addicted to fierce competition. Many of these companies focus on extensive research and development activities to launch new polyurethane products with multiple applications. Leading companies also adopt a variety of organic and inorganic growth strategies, such as mergers and acquisitions, innovative product launches and expansion, to increase their share of the global industry.
The top manufacturers of polyurethane foam in the world are:
The different types of polyurethane foams that are in great demand on the market are flexible foams, spray foams and rigid foams. However, the largest share of the global market is lightweight foam, and it may also maintain its leading position in the next few years. Due to its attractive properties, including impressive absorption properties and low volume-to-weight ratio, it has noticed a wide range of applications in end-use fields such as bedding and furniture, construction and construction, and automobiles.
According to the application method, the polyurethane foam industry can be divided into construction and construction, bedding and furniture, automobiles, electronics, packaging, clothing, etc. Due to the massive deployment of flexible PU foam in structural insulation, roofs, wall cavities and floors, the building and construction fields may take the lead in the next few years. Attractive advantages include significant water vapor resistance, excellent structural strength, lower density and longer service life, which has increased the demand for polyurethane foam in the construction and construction industries. The government's large amount of funds for infrastructure construction has promoted the growth of the construction industry in various emerging countries, thereby boosting the consumption rate of polyurethane. Increasing consumer spending on furniture and interior decoration also increases the consumption rate of products.
Browse the in-depth market research report of polyurethane foam (157 pages): https://www.marketresearchfuture.com/reports/polyurethane-foam-market-1697
The Asia-Pacific region can achieve the highest growth rate of 9.15% in the next few years and reach an astonishing valuation of US$32.82 billion. In view of the acceleration of urbanization and industrialization, many end industries such as construction, packaging, automobiles, footwear, bedding and furniture in the region are increasingly using PU foam, which is beneficial to the market. In addition, supportive government regulations and the transfer of production bases to the region by international players have also expanded the scale of the market.
Considering the increasing use of polyurethane foam in reconstruction and renovation activities, North America should reach a staggering $13.24 billion by 2027. In addition, a surge in various government-led initiatives, including the Climate Assistance Program/WAP insulation material that promotes the use of heat, will also promote product demand in the region.
In 2017, Europe occupies a large part of the global market and is expected to grow at 24.78% during the analysis period. The strong growth in the region is the result of increasing demand for this product in the construction and construction and automotive industries. In addition, the existence of various EU programs that provide financial assistance to major end users who adopt environmentally friendly materials has also promoted the demand for polyurethane foam in Europe.
The Middle East market should be able to achieve significant growth in value within the forecast time, thanks to the booming construction and construction and bedding and furniture industries in the region, which are some of the top end users of polyurethane foam. Many countries in the region Increasing preference for energy-efficient buildings has also increased market value.
July 2020-BASF joins hands with Yutong Bus, a well-known bus manufacturer, to develop polyurethane seats for new energy innovative buses. BASF's Elastoflex PU-based seats will provide impressive flame retardant advantages and also comply with European directives on flame retardancy regulations.
November 2020-Trelleborg recently designed a new antibacterial AMV Shield system for polyurethane materials. The AMV Shield system provides polyurethane materials with anti-viral, anti-bacterial, anti-fungal and anti-fungal properties, with a service life of more than 25 years.
Share your inquiry @ https://www.marketresearchfuture.com/enquiry/1697
Several key end industries in the polyurethane foam market, such as furniture, construction, electronics, automobiles, etc., have been severely affected by the COVID-19 pandemic. The pandemic and subsequent blockade reduced the labor force in the manufacturing sector, resulting in a decrease in the output of polyurethane and polyurethane foam. The new coronavirus also challenges market companies in the form of loss of income, debt, and weak supply chains.
The uncontrollable growth of SARS-CoV-2 on a global scale has forced leading manufacturers to follow strict safety regulations and maintain effective communication, as the health of employees has become the focus of attention. While facing the obstacles posed by COVID-19, suppliers are also forced to adopt competitive strategies to maintain their position in the market.
Discover more research reports on the chemical industry, and research the future by market:
Polymer foam market research report: by form (flexible foam and rigid foam), product information [polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC) ) And others], applications (building and construction, automotive, packaging, furniture, wind turbine blades, etc.) and regions (Asia Pacific, North America, Europe, Latin America, the Middle East and Africa)-forecast to 2025
Aviation foam market information: by type (polyurethane, polyethylene, melamine, metal, polyimide, others), application (aircraft seat, internal panel structure, floor covering, flight deck mat, electrical components), end use ( Commercial aircraft, general aviation), military aircraft) and regions (North America, Europe, Asia Pacific, South America and the Middle East and Africa)-forecast to 2027
Automotive foam market: information by type (polyurethane (PU) foam, polyolefin (PO) foam, others), application (seats, door panels, bumper systems, others), end use (automobiles, light commercial vehicles, heavy commercial vehicles) ) And region-forecast to 2025
Medical foam market research report: by form (flexible, rigid, spray), by material (polymer, latex, metal) and by application (bedding and cushions, medical packaging, medical devices and components, prosthetics and wound care, others )-Forecast to 2027
Market Research Future (MRFR) is a global market research company, proud of its services, providing complete and accurate analysis for different markets and consumers around the world. The outstanding goal of Market Research Future is to provide customers with the best quality research and meticulous research. We conduct market research on global, regional and national market segments by products, services, technologies, applications, end users and market participants, so that our customers can see more, learn more, and do more. Help answer your most important questions.