Polyurethane Foam Market Size to Grow by 5.44 million tons | 39% of Market Growth to Originate from APAC | Technavio
NEW YORK, May 13, 2022 /PRNewswire/ -- According to the report "Polyurethane Foam Market by Type, Application, and Geography - Forecast and Analysis 2021-2025", the market witnessed a YOY growth of 6.56% in 2021 and will witness a CAGR of 7.05% during the forecast period. The report is segmented by type (flexible PU foams, rigid PU foams, and molded PU foams), application (furniture and bedding, building and construction, transport, appliances, and others), and geography (APAC, Europe, North America, MEA, and South America).
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Vendor Insights
The PU foam market is fragmented, and the vendors are increasing their capacities to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including BASF SE, Covestro AG, Dow Inc., Henkel AG and Co. KGaA, Huntsman Corp., INOAC Corp., Mitsui Chemicals Inc., Recticel NV, Sheela Foam Ltd., and Trelleborg AB, among others. The key offerings of some of the vendors are listed below:
- BASF SE - The company offers polyurethane foam insulation that is a highly durable and best-in-class option.
- Covestro AG - The company offers solutions for flexible, rigid, and integral skin foams such as Desmodur, Cardyon, and many more.
- Dow Inc. - The company offers VORASURF polyurethane additives that help meet a variety of needs across a wide range of applications such as spray foam insulation used in refrigerators and construction.
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Geographical Market Analysis
APAC will provide maximum growth opportunities in the polyurethane foam market. According to our research, the region will contribute to 39% of the global market growth during the forecast period. China and South Korea (Republic of Korea) are the key countries for the polyurethane foam market in APAC. The increasing construction activities and rising demand for electronic appliances will drive the polyurethane foam market growth in APAC during the forecast period.
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Key Segment Analysis
The flexible PU foams segment will have significant market share growth during the forecast period. Flexible PU foams have properties such as high durability and resilience and lightweight. They are used widely in furniture and bedding, carpet cushioning for diverse industrial applications, automotive seating, and textile laminates. Hence, the increasing applications of flexible PU foams in various industries will drive their demand during the forecast period.
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Key Market Drivers & Challenges:
The rising demand for PU foams in China is driving the growth of the polyurethane foam market in the coming years. In China, PU foams are used extensively in industries such as electrical and electronics, construction, consumer goods, healthcare, automotive, sports equipment, and furniture and bedding. This is mainly because of the economic growth of the region. Moreover, there is an increase in the number of construction projects across China. These factors will drive the growth of the segment.
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Polyurethane Foam Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.05% |
Market growth 2021-2025 | 5.44 mn tons |
Market structure | Fragmented |
YoY growth (%) | 6.56 |
Regional analysis | APAC, Europe, North America, MEA, and South America |
Performing market contribution | APAC at 39% |
Key consumer countries | China, Germany, US, South Korea (Republic of Korea), and Italy |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled | BASF SE, Covestro AG, Dow Inc., Henkel AG and Co. KGaA, Huntsman Corp., INOAC Corp., Mitsui Chemicals Inc., Recticel NV, Sheela Foam Ltd., and Trelleborg AB |
Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Furniture and bedding - Market size and forecast 2020-2025
- Building and construction - Market size and forecast 2020-2025
- Transport - Market size and forecast 2020-2025
- Appliances - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- Flexible PU foams - Market size and forecast 2020-2025
- Rigid PU foams - Market size and forecast 2020-2025
- Molded PU foams - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BASF SE
- Covestro AG
- Dow Inc.
- Henkel AG and Co. KGaA
- Huntsman Corp.
- INOAC Corp.
- Mitsui Chemicals Inc.
- Recticel NV
- Sheela Foam Ltd.
- Trelleborg AB
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us:
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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