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Polyurethane Foam Market Size, Growth, Drivers And Forecast Analysis By 2033
Polyurethane Foam Market Size
As per the report, the polyurethane foam market size has grown strongly in recent years. It will grow from $50.93 billion in 2023 to $54.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The polyurethane foam market size is expected to see strong growth in the next few years. It will grow to $73.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
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Growing Automotive Vehicle Demand Boosts Polyurethane Market Growth
The rising demand for automotive vehicles is expected to propel the growth of the polyurethane foam market going forward. An automotive vehicle refers to any kind of self-propelled vehicle used for transportation on public highways or in other settings. Since polyurethane foam provides outstanding cushioning, comfort, and durability, it is frequently used in car seats and upholstery. For both drivers and passengers, it offers a comfortable and supportive sitting environment. For instance, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the rising demand for automotive vehicles is driving the growth of the polyurethane foam market.
Polyurethane Market Witnesses Surge In Technological Advancements
Technological advancements are a key trend gaining popularity in the polyurethane market. Companies operating in the polyurethane foam market are focused on adopting new technologies to sustain their position in the market. For instance, in October 2021, Huntsman Corporation, a US-based chemical industry company, launched ACOUSTIFLEX LE and RUBIFLEX LE, the first fully commercialized technologies and a new range of low-emission polyurethane systems for automotive interiors. Its innovative low-emission PU system is a breakthrough technology that enables global foam producers and automotive formulators to create high-performance polyurethane foams while drastically lowering interior emissions levels to satisfy OEM (original equipment manufacturer) regulations.
The polyurethane foam market covered in this report is segmented -
1) By Type: Rigid Foam, Flexible Foam, Spray Foam
2) By Process: Slabstock Foam, Molded Foam, Lamination, Spraying
3) By Density Composition: Low-Density Composition, Medium-Density Composition, High-Density Composition
4) By Application: Bedding And Furniture, Transportation, Packaging, Automotive, Construction, Electronics, Footwear, Other Applications
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Major companies operating in the polyurethane foam market report are BASF SE, Dow Inc., Bayer AG, Saint-Gobain S.A., Wanhua Chemical Group Co Ltd, Covestro AG, DuPont de Nemours Inc., Sekisui Chemical Co. Ltd., Huntsman Corporation, Lanxess AG, Nitto Denko Corporation, Carpenter Co., FXI Holdings Inc., Woodbridge Foam Corporation, JSP Corporation, Rogers Corporation, Armacell International S.A., Future Foam Inc., Reciticel N.V., UFP Technologies Inc., FoamPartner Group, Greiner Perfoam GmbH, Zotefoams PLC, Foamcraft Inc., Clark Foam Products Corporation, Eurofoam GmbH, Synthesia Internacional SL, American Excelsior Company, General Plastics Manufacturing Co., Innocor Inc.
Contents of the report:
1. Executive Summary
2. Polyurethane Foam Market Report Structure
3. Polyurethane Foam Market Trends And Strategies
4. Polyurethane Foam Market - Macro Economic Scenario
5. Polyurethane Foam Market Size And Growth
…..
27. Polyurethane Foam Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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