Polyurethane Foam Market Booming Demand Accelerate to Exponential Growth will reach $ 41.10 Billion by Forecast 2029: Exactitude Consultancy

PUNE, India, Aug. 3, 2022 /PRNewswire/ --

Polyurethane (Pu) Foam Market

Polyurethane is a thermoset plastic that is obtained by heating in a normally irreversible reaction. Polymeric foams are widely available due to their superior properties when compared to competing materials. Polyurethane foam (PUFs) is possibly the most important class of polymeric foams because its low thickness and thermal conductivity, combined with their exciting mechanical properties, make them notable thermal and sound insulators, as well as structural and luxury substances.

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Global Polyurethane Foam market size is expected to grow from USD 38.60 Billion in 2021 to USD 41.10 Billion by 2029, anticipated to witness moderate growth during 2022-2029 with a CAGR of 7%.

Polyurethane foams are widely utilized in construction applications as insulators, adhesives, sealants, and binders. Reduced energy usage allows these materials to assist cut infrastructure expenses. As a result, the growing awareness of energy conservation will benefit the polyurethane foam market. Moreover, different product developments and the development of bio-based polyols that are used to manufacture polyurethane foam and emit very little carbon dioxide into the atmosphere are boosting demand for this type of foam.

Asia-Pacific Region to Dominate the Market

The Asia Pacific held the largest share with 45% in the polyurethane foam market in 2020. The emerging economies of China, South Korea, and India are key PU foam buyers, with a fast-increasing manufacturing sector and ample raw material availability. High demand for consumer electronic devices has emerged from innovation, price deflation, and rising family incomes, particularly in emerging Asian countries, contributing to the expansion of the Polyurethane foam market in this region.

Recent Development

• In March 2022, Perma-Pipe International Holdings, Inc., a US-based engineered pipe services company, announced further contracts of USD 15 million in Saudi Arabia and Egypt to utilize Perma-Pipe's XTRU-THERM insulation system.
• In October 2022, S7 Technics, Russian aircraft maintenance, repair, and overhaul service provider, announced the launch of the production of polyurethane foam cushions for aircraft seats.
• In June 2021, Rogers Corporation announced the launch of a product designed to meet the need for high-performing materials that facilitate the design of thinner and lighter electronic devices. PORON AquaPro 37TS9 delivers reliable water sealing capabilities in an ultra-thin self-adhesive form.

Polyurethane Foam Market Players

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Polyurethane Foam Market, including Covestro AG, BASF SE, Wanhua Chemical Group Co., Ltd., Dow Inc., Huntsman Corporation, Sekisui Chemical Co., Ltd., Compagnie de Saint-Gobain SA, Bayer AG, Chemtura Corporation, DuPont, Recticel NV/SA, Rogers Corporation, UFP Technologies, Inc., INOAC Corporation, Trelleborg AB, FXI, Armacell, Eurofoam Group, Woodbridge Foam Corporation, Future Foam, Inc., and Tosoh Corporation, Foamcraft, Inc and Others.

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Drivers and challenges

The Polyurethane Foam market is enriched with an incredible status of the high ranked players making a significant contribution towards the growth of the market. In this context, it covers those fundamental factors essential in terms of driving the growth rate. The report also studies the market trends and takes the pricing aspects into account. The report details everything that matters in terms of facilitating the growth of the market within the given frame of time. Alongside, the report goes through the challenges, opportunities, etc., essential for higher studies.

Key Market Segments: Polyurethane Foam Market

Polyurethane Foam Market by Product Type, 2020-2029, (USD Million)

• Rigid Foam
• Flexible Foam
• Spray Foam

Polyurethane Foam Market by Structure, 2020-2029, (USD Million)

• Open-Cell
• Closed-Cell

Polyurethane Foam Market by Density Composition, 2020-2029, (USD Million)

• Low-Density Polyurethane Foams
• Medium-Density Polyurethane Foams
• High-Density Polyurethane Foams

Polyurethane Foam Market by Application, 2020-2029, (USD Million)

• Building & Construction
• Bedding & Furniture
• Automotive
• Electronics
• Footwear
• Packaging

Polyurethane Foam Global Market by Region, 2020-2029, (USD Million)

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Key Findings

• In 2021, the polyurethane foam segment dominated the market with the largest market share of 34.13% and market revenue of 0.51 billion.

The foam segment is divided into polystyrene foam, polyolefin foam, polyurethane foam, and phenolic foam. In 2021, the polyurethane foam segment dominated the market with the largest market share of 34.13% and market revenue of 0.51 billion. This growth is attributed to its broad application scope in different enterprises like the automotive industry for gaskets, seals, manufacturing seats, insulation, and bushing.

• In 2021, the hydrocarbons (HC) segment dominated the market with the largest market share of 29.16% and market revenue of 0.43 billion.

The type segment is divided into hydrochlorofluorocarbons (HCFC), hydrofluorocarbons (HFC), hydrofluoroolefin (HFO), hydrocarbons (HC), and others. In 2021, the hydrocarbons (HC) segment dominated the market with the largest market share of 29.16% and market revenue of 0.43 billion. This growth is attributed to the growing use of oxygenated hydrocarbons like methyl formate in integral skin & polystyrene foam applications.

• In 2021, the building and construction segment dominated the market with the largest market share of 23.17% and market revenue of 0.34 billion.

The application segment comprises bedding and furniture, building and construction, appliances, automotive, packaging, and others. In 2021, the building and construction segment dominated the market with the largest market share of 23.17% and market revenue of 0.34 billion. This growth is attributed to the high mechanical strength and its insulation properties.

Browse More Chemicals & Materials Market Reports by Exactitude Consultancy

https://exactitudeconsultancy.com/reports/10441/microcellular-polyurethane-foam-market/

Microcellular polyurethane foam is a kind of polyurethane foam that is both closed-cell and open-cell. This foam is a cutting-edge substance which is both long-lasting and lightweight.

https://exactitudeconsultancy.com/reports/10119/polyurethane-market/

Polyurethanes are thermosetting polymers, and they do not melt when exposed to heat. Polyurethane (PU or PUR) is a polymer having links of isocyanate and polyols arranged in an alternate manner, which is formed by the reaction between isocyanate and polyols.

https://exactitudeconsultancy.com/reports/10176/polyurethane-additives-market/

Polyurethane additives are compounds that are added to polyurethane polymers to increase their overall performance. They help increase the characteristics of the polymer, thus affecting the processing speed as well as stability of the polymer.

https://exactitudeconsultancy.com/reports/6844/polyurethane-composites-market

Polyurethane composites are elastomers and tight and flexible foams made from flexible polyurethane components. Polyurethane composites are tough, flexible, and durable thermoset resins that may be employed by a variety of end-user verticals.

Media Details: 
Irfan Tamboli,
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+91-7507-07-8687

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SOURCE Exactitude Consultancy

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