Press release
Polyurethane Foam Market Size is Expected to Reach USD 41.10 Billion, Trends, Growth Strategies, Company Overview and Forecast 2029
Polyurethane Foam Market Overview:The polyurethane has a solid structure, or it can have an open cellular structure as well. When it is open cellular structure is called foam. These foams can be rigid or flexible. The polyurethane foam is made by reacting diisocyanates and polyols. The manufacturers extract both these products from crude oil. Depending upon the application, various types of additives are added, and specific characters can be enhanced. The rigid types of polyurethane foams are used primarily in the thermal insulation of buildings. In the automotive sector, the flexible type of polyurethane foams is moulded. Polyurethane foams offer various environmental benefits such as high recyclability and reduced wastage.
The global Polyurethane Foam market size was valued at USD 38.60 Billion in 2020 and is projected to reach USD 41.10 Billion by 2029, growing at a CAGR of 7% 2022-2029.
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Polyurethane Foam Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are 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 Corp and Others
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.
Partnerships, Collaborations, And Agreements
In January 2020, Covestro AG a leading producer of a variety of polycarbonate and polyurethane raw materials has announced a collaboration with Recticel NV/SA. The aim of this collaboration is to develop mattresses from end-of-life mattresses. This collaboration will build a circular economy in the Polyurethane Foam Market which will help both of the companies to lower the dependence on the use of raw materials in polyurethane foams production.
In July 2020, BASF has announced a partnership with Yutong Bus Co. Ltd which is a leading bus manufacturer to develop polyurethane seating for new-energy innovative buses. BASF will provide Elastoflex PU-based seatings that have impressive flame-retardant advantages.
Product Launches and Product Expansions
In March 2021, Technonicol Corporation has announced the launch of a new product category in order to complement the range of premium-quality construction materials specifically in India named Polyurethane Foams by Technonicol. The new category includes fire-resistant, professional sealing, and glueing foams. In addition, it includes high-performance spray foam insulation.
In October 2020, A new 22,000-ton TEROL® aromatic polyester polyols plant has started by Huntsman Corporation at its systems house in Kuan Yin, Taiwan. This launch expands the company's polyurethanes capabilities in the Asia-Pacific region. It will be the first TEROL® polyols outside the United States.
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Polyurethane Foam Market Segmentation:
Global Polyurethane Foam Market by Product Type, 2020-2029, (USD Million) (Kilotons)
Rigid Foam
Flexible Foam
Spray Foam
Global Polyurethane Foam Market by Structure, 2020-2029, (USD Million), (Kilotons)
Open-Cell
Closed-Cell
Global Polyurethane Foam Market by Density Composition, 2020-2029, (USD Million) (Kilotons)
Low-Density Polyurethane Foams
Medium-Density Polyurethane Foams
High-Density Polyurethane Foams
Global Polyurethane Foam Market By Application, 2020-2029, (USD Million) (Kilotons)
Building & Construction
Bedding & Furniture
Automotive
Electronics
Footwear
Packaging
Growth Factors:
Increasing demand from the Polyurethane Foam industries
The growing use of Polyurethane Foam in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Polyurethane Foam Market
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Polyurethane Foam Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Polyurethane Foam Market Trends
- The report identifies, determines, and forecasts the Global Polyurethane Foam Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Polyurethane Foam Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Polyurethane Foam Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Polyurethane Foam Market.
Frequently Asked Questions
What is the projected market size & growth rate of the Polyurethane Foam Market?
What are the key driving factors for the growth of the Polyurethane Foam Market?
What are the top players operating in the Polyurethane Foam Market?
What segments are covered in the Polyurethane Foam Market Report?
How can I get a sample report/company profiles for the Polyurethane Foam Market?
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