India Polyurethane Foam Market Expected to Reach USD 5.18 Billion by 2031 |BASF SE, Evonik, Huntsman, Lanxess, Bayer India.

India Polyurethane Foam Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the India Polyurethane Foam market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global India Polyurethane Foam market from 2024 to 2031, and what is the market value expected to change by 2031?

India Polyurethane Foam Market reached USD 2.8 billion in 2023 and is expected to reach USD 5.18 billion by 2031 and is expected to grow with a CAGR of 8.0% during the forecast period 2024-2031.

What is India Polyurethane Foam Market?

The India Polyurethane Foam Market encompasses the production and use of polyurethane foam across various applications, including furniture, bedding, automotive, packaging, and insulation. Known for its lightweight, durability, and versatility, polyurethane foam is increasingly favored for its comfort and energy efficiency. The market is driven by the growing demand from the furniture and automotive industries, along with rising consumer preferences for high-quality and sustainable products. Additionally, advancements in manufacturing technologies and increasing awareness of the benefits of polyurethane foam are further propelling market growth.

Growth Driver

Increase in Infrastructure Capital Expenditure by the Indian Government

The Indian government is making substantial investments in infrastructure to drive economic growth and enhance the quality of life for its citizens. In 2022, infrastructure spending reached a record high of 1.7% of the country's GDP. Looking ahead, the government has allocated ₹10 lakh crore (approximately USD 122 billion) for public infrastructure capital expenditure for the 2023-24 financial year. This significant commitment reflects the government's dedication to developing robust infrastructure that can support future growth and development.

Key Players:

Profiles of some of the major players in the global India Polyurethane Foam market, which include BASF SE, Evonik, Huntsman, Lanxess, Bayer India, Saint-Gobain , Premratan Concast Pvt Ltd., Cristol, Expanded Polymer Systems Pvt. Ltd. and MITSUI & CO. INDIA PVT. LTD.

Industry Development:

In December 2022, Kurl-On, an Indian manufacturer known for its PU foam mattresses, was acquired by Sheela Foam in a comprehensive deal valued at ₹2,000 crore (approximately USD 242.2 million). This acquisition significantly strengthens Sheela Foam's position, making it the largest player in the organized mattress market in India.

In October 2022, BASF SE, a German multinational chemical company, held a groundbreaking ceremony for a new polyurethane applications lab in Mumbai, India. Set to begin operations in the first quarter of 2024, this lab aims to innovate and develop new applications for polyurethane foam, targeting both Indian and global markets.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global India Polyurethane Foam market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Type: Flexible Foam (Slabstock), Rigid Foam, Spray Foam.

By Density: Low-Density Polyurethane Foam, Medium-Density Polyurethane Foam, High-Density Polyurethane Foam.

By Distribution Channel: Offline, Online.

By End-User: Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Medical, Marine, Packaging, Others.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.

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➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.

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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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