NEW YORK, June 28, 2016 /PRNewswire/ -- The global microcellular polyurethane foam market is projected to reach USD 6.95 billion by 2021, at a CAGR of 5.5% between 2016 and 2021. Advanced properties of microcellular polyurethane foams and growing demand from the various end-use industries are the key factors that are projected to drive the growth of the market.
Automotive was the largest application segment of the market by 2021
The automotive segment accounted for the largest share of the microcellular polyurethane foam market. The increasing number of automotive OEMs is expected to drive the growth of this segment, as microcellular polyurethane foam is widely used in the automotive industry to increase comfort, safety, quality, and visual appeal of vehicles.
High-density foam is expected to witness significant growth during the forecast period
The high-density foam segment of the global microcellular polyurethane foam market is expected to witness significant growth during the forecast period. The advanced properties of high-density foams, such as durability high performance are the major reasons for the growing demand of these foams, especially from the automotive industry.
China was the largest market for Microcellular polyurethane foam in 2015
Asia-Pacific recorded the largest consumption of microcellular polyurethane foam in 2015. China and Japan were the key markets for microcellular polyurethane foam in Asia-Pacific. The rise in the number of vehicles is a major factor expected to lead to growth in the market in these countries.
Break-up of profile of primary participants for the report:
By Company Type - Tier 1 – 35 %, Tier 2 – 35% and Tier 3 – 30%
By Designation – C level – 25%, Director level – 30%, Others – 45%
By Region – APAC - 40%, Europe – 25%, North America – 20%, Middle East & Africa – 10%, and Rest of the World – 5%
The report, as a part of qualitative analysis, provides a comprehensive review of major market drivers, restraints, opportunities, and challenges of the market. It also discusses competitive strategies adopted by different market players, such as BASF SE (Germany), The Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), Era Polymers (Australia), and Evonik Industries (Germany), among others.
Reasons to buy this report:
This report covers the following key aspects:
What will be the market size by 2021 and what will be the growth rate
What are the key market trends
What is driving this market
What are the challenges that impact market growth
Who are the key players in this market
Global report covers key regions, such as North America, Europe, Asia-Pacific, Middle East & Africa, and RoW, along major countries in these regions
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