PUNE, India, September 12, 2016 /PRNewswire/ --
The report "Polyurethane Foam Market by Type (Flexible, Rigid, and Spray Foam), End-Use Industry (Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is estimated to grow from USD 46.05 Billion in 2015 to USD 74.24 Billion by 2021, at a CAGR of 8.4% between 2016 and 2021.
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Browse 199 market data Tables and 68 Figures spread through 236 Pages and in-depth TOC on "Polyurethane Foam Market"
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Factors such as environment sustainability & energy conservation, versatility & unique physical properties of polyurethane foam, and growth of end-user industries in emerging nations are some of the factors driving the polyurethane foam market.
Building & construction end-use industry segment held the maximum market share in 2015
The building & construction segment dominated the market in 2015 and is projected to grow at a moderate rate during the forecast period. Polyurethane foam finds multiple applications in the building & construction industry. Flexible and semi-rigid foams are used in paints, coatings, and adhesives, which are extensively used in construction. Rigid foams are widely used as structural and insulation foams in buildings. Insulation is the most important application of polyurethane foams in the building & construction industry. Polyurethane foams are viewed as a reasonable and safe mode for reducing carbon emissions that prompt global warming.
Spray foam to witness the highest growth during the forecast period
Spray foam is basically a low-to-medium density foam. This foam primarily has two functions: insulation (both as open cell and closed cell) and flotation & roofing. It is also used for packaging applications. Spray foam is the fastest growing polyurethane foam type due to its increased utilization. Growth in the end-user industries, such as building and construction, is expected to boost the demand for spray foams in the coming years.
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Asia-Pacific region to be the largest market for polyurethane foam during the forecast period
The Asia-Pacific region leads the market due to its large population and its growing market for end-use industries, such as bedding & furniture, building & construction, electronics, automotive, footwear, and packaging which directly impact the growth of the Polyurethane Foam Market. As polyurethane foam has widespread application in all these end-use industries, the Asia-Pacific region, which is witnessing major growth in these sectors, has become a large market for it. North America is the second largest market for polyurethane foam, followed by Europe, the Middle East, South America, and Africa.
The global polyurethane foam market is dominated by players, such as BASF SE (Germany), The Dow Chemical Company (U.S.), Bayer AG (Germany), Sekisui Chemical Co. Ltd. (Japan), Nitto Denko Corporation (Japan), Compagnie de Saint-Gobain S.A. (France), Huntsman Corporation (U.S.), Wanhua Chemical Group Co., Ltd. (China), Trelleborg AB (Sweden), Tosoh Corporation (Japan), Chemtura Corporation (U.S.), INOAC Corporation (Japan), Recticel NV/SA (Belgium), Vita (Lux III) S.à r.l. (Luxembourg), Armacell GmbH (Luxembourg), Foamcraft, Inc. (U.S.), FoamPartner Group (Switzerland), Future Foam, Inc. (U.S.), FXI-Foamex Innovations (U.S.), Rogers Corporation (U.S.), UFP Technologies, Inc. (U.S.), and The Woodbridge Group (Canada).
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