Polyurethane Foam Market Size to grow by 5.44 Mn Tons | Driven by Rising Demand for PU Foams in China | Technavio

NEW YORK, Dec. 29, 2021 /PRNewswire/ -- The global polyurethane foam market size is expected to increase by 5.44 million tons between 2020 and 2025, expanding at a CAGR of 7.05% during the forecast period. The market is fragmented and the degree of fragmentation is expected to further increase.

Technavio identifies the rising demand for PU foams from China as one of the major factors driving the growth of the market. The growth of various industries such as consumer goods, automotive, construction, furniture and bedding, electrical and electronics, sports equipment, and healthcare has significantly increased the demand for PU foams in the country over recent years. The country is also witnessing strong growth in the construction industry, which has increased the use of PU foams in various applications such as floor carpets, insulation, sealants, and roofing. Many such factors are contributing to the growth of the global polyurethane foam market. In addition, this study identifies the increasing demand for PU foams in furniture and bedding as one of the prime reasons driving the polyurethane foam market growth during the next few years.

However, the increasing demand for alternatives of PU foams, regulations on the use of blowing agents, and health hazards on the use of TDI and MDI as raw materials in the production of PU foams will challenge the growth of the global polyurethane foam market during the forecast period.

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Polyurethane Foam Market 2021-2025: Segmentation

Polyurethane Foam Market is segmented as below:

• Type
• Flexible PU Foams
• Rigid PU Foams
• Molded PU Foams
• Application
• Furniture And Bedding
• Building And Construction
• Transport
• Appliances
• Others
• Geography
• APAC
• Europe
• North America
• MEA
• South America

By type, the market is witnessing a high demand for flexible PU foams owing to their lightweight and excellent durability. They are widely used in various end-user applications such as furniture and bedding, carpet cushioning for diverse industrial applications, automotive seating, and textile laminates. Similarly, by application, furniture and bedding segment is creating strong growth in the global polyurethane foam market.

In terms of geography, APAC will witness maximum growth during the forecast period. The region currently holds 39% of the global market share. Factors such as increasing construction activities and the rising demand for electronic appliances will be crucial in driving the growth of the polyurethane foams market in APAC. China and South Korea (Republic of Korea) are the prominent markets for polyurethane foams in APAC.

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Polyurethane Foam Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Polyurethane Foam Market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research report on the polyurethane foam market is designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Polyurethane Foam Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist polyurethane foam market growth during the next five years
• Estimation of the polyurethane foam market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the polyurethane foam market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of polyurethane foam market vendors

Related Reports:
Thermoplastic Polyurethane Films Market by Application and Geography - Forecast and Analysis 2021-2025

Polyurethane Coatings Market by End-user and Geography - Forecast and Analysis 2021-2025

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