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Polyurethane Foam Market Poised to Expand at 6.5% CAGR by 2024

Press release from the issuing company

Report Highlights

The global polyurethane foam market should grow from $26.2 billion in 2019 to $36.0 billion by 2024 with a compound annual growth rate (CAGR) of 6.5% for the period of 2019-2024.

Report Scope:

The polyurethane foam market is segmented into the following categories -
- By product: spray foam, flexible foam, and rigid foam.
- By end-user: automotive, packaging, bedding and furniture, consumer goods, healthcare, electronics and others.

By region: North America is segmented into the U.S., Canada, and Mexico; Europe is segmented into the U.K., Germany, and Rest of Europe; Asia-Pacific is segmented into China, India and Rest of Asia-Pacific; and Rest of the World (RoW) is segmented into Latin America, Middle East and Rest of RoW.

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In addition to industry and competitive analysis of the polyurethane foam market, this report also exhaustively covers patents and the company profiles of key players active in the global market.

Report Includes:

- 51 tables
- An overview of global polyurethane foam market
- Analyses of global market trends, with data from 2018, 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Examination of the opportunities and innovation-driven polyurethane foam market highlights, and the major regions and countries involved in these developments
- Analyze the various end-use industry applications of polyurethane foams and the market dynamics of each application
- Identify segments with high growth potential and also understand future applications of the segments
- Examine key trends related to the global market, its various product types and end-use applications that have an influence on the industry
- Comprehensive profiles of major companies in the industry, including BASF Se, Dow Chemical Co., Rogers Corp. and UFP Technologies Inc.

Summary

Polyurethane is a leading member of a wide ranging and highly diverse family of polymers and plastics. Polyurethane foam is a solid or open cellular structured form of polyurethane. Polyurethane foam is mostly available in flexible or rigid form. More precisely, polyurethane foams are created by reacting polyols and diisocyanates in the presence of suitable catalysts and additives. Both products are derived from petroleum crude oil. A series of additives are required to produce the high-quality polyurethane foam products depending on end-use application.

The robust and distinct properties of polyurethane solve complex problems and fit into different shapes which improve the application of polyurethane foams. Polyurethane foam safeguards products by offering exceptional dielectric and adhesive characteristics. Polyurethane foam is resistant to scratches, water, temperature and weather. Polyurethane foams are categorized into three types: spray foam, flexible foam and rigid foam. Flexible polyurethane foam is utilized as cushioning for a variety of consumer products such as furniture, packaging, bedding, automotive interiors and carpet underlay. Flexible foam can be produced in almost any type of structure and shapes. Flexible foams are light, comfortable and durable, and used widely for bedding, furniture and automotive applications. Rigid polyurethane foams are one of the most widespread versatile and energy-efficient insulations. These foams may substantially cut energy costs while making residential and commercial properties more comfortable and efficient.

According to the U.S. Department of Energy, residential cooling and heating accounts for more than 50% of the energy use in the United States, making it the largest energy expenditure for most residential houses. To maintain constant temperature and lower noise in homes and commercial properties, builders use rigid polyurethane foam. This foam is an effective insulation material that can be used in roof tops, insulated windows, wall insulation, doors and air barrier sealants. Spray polyurethane foams are a spray-applied plastic which insulate buildings, seal cracks and gaps, and make homes more energy efficient and comfortable. Polyurethane foams are also an effective solution in reducing unwanted air intrusion through joints, cracks and seals.

These polyurethane products have a diverse range of applications because their open and elastic cell structure makes them resistant to oxidation and aging. Polyurethane foams are used in multiple applications including -
- Bedding: in mattresses as main filling or as part of blankets and cushions.
- Furniture: sofas and chairs seats, padded fillers, etc.
- Building and construction: as thermal insulation.
- Automotive: in dashboards, seats, etc.
- In toys, footwears, sponges, clothing, packaging and in other kinds of fillings.

Polyurethane foams are extensively used in the furniture, building and construction sectors. The bedding and furniture sector uses flexible foams as fillers for mattresses, blankets and cushions, while the construction sector utilizes spray foams as thermal insulation. The distinct properties of these foams are increasing demand and driving the market worldwide.

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