Polyurethane Foam Market By Product Type (Rigid foam, Flexible foam, Spray foam), By Application (Bedding & Furniture, Building & Construction, Automotive, Electronics, Footwear, Packaging, Others) and By Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2016 To 2026

Date : Mar 2021

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Report ID : 55

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Category : Resins and Polymers

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Report Format:  PDF EXCEL PPT WORD

Polyurethane Foam Market Overview:

Polyurethanes are plastic polymers that are produced by combining di-isocyanates and polyols, both extracted from crude oil. These can have either an open cellular structure or a solid structure. An open cellular structured polyurethane is called a foam. Specific characteristics can be achieved by varying the type and quantity of additive used. These products find applications in various sectors such as automotive, buildings, furniture, electronics, packaging, etc.

Polyurethane Foam Market Estimation:

In 2020, the global polyurethane foam market was valued at nearly USD 40.0 billion. It is estimated to reach a valuation of around USD 60.0 billion by the end of 2026, registering a compound annual growth rate of over 7%.

Polyurethane Foam Market Segmentation:

Product Type:

The polyurethane foam market is classified into the following categories – rigid foam, flexible foam and spray foam. Spray foam is expected to outrank the rigid and flexible foam types during the forecast period, thereby displaying a rapid growth rate. These foams are primarily used for insulation, floatation and roofing applications in the construction industry. A rise in requirement from the building & construction industry is anticipated to drive the expansion of the spray foam segment.

Application:

Amongst its widespread applications, the building & construction industry is leading the polyurethane market in 2020. The suitability of these foams for waterproofing, air sealing, insulating, flooring applications and many more are generating a huge demand from this industry. Moreover, even with a negatively affected building & construction industry due to the pandemic, a large volume of polyurethane foams is being utilized by this sector.

Region:

Asia – Pacific is anticipated to witness the highest growth rate among all regions. This can be attributed to rapid industrialization and booming industries such as automotive, construction, furniture, packaging and so on. Furthermore, supportive government policies and the entry of various large-scale players into this region will boost the regional market growth.

The polyurethane foam market in the North American region will witness an expansion largely due to government initiatives such as the Weatherization Assistance Program (WAP), which promotes thermal insulation coupled with the guidelines and standards set by the U.S. EPA.

The development and progress of the polyurethane foam market in the Middle East can be attributed to the soaring constructional activities. The rising need for energy-efficient buildings is another factor positively influencing the regional market growth.

Recent Developments:

  1. May 2019 witnessed the collaboration of BASF and Shanhu Industry to develop lightweight and low-emission polyurethane products.
  2. In January 2020, Covestro AG and Recticel NV/SA entered into a partnership to manufacture mattresses from recycled polyurethane. This initiative is expected to minimize the use of raw materials and thereby overall manufacturing costs.
  3. Sleepwell, an Indian brand, in December 2020, launched a campaign urging clients to replace old mattresses with new ones in order to embrace a safe 2021.

Impact of COVID-19:

The pandemic has had a negative impact on several markets including the polyurethane foam market. The global lockdowns between March and June 2020 led to a significant downfall in demand for Methylene Diphenyl di-isocyanate (MDI). Furthermore, numerous companies have either halted or shutdown their operations. This has resulted in a dearth of Toluene di-isocyanate (TDI).

Polyurethane Foam Market Drivers:

  • Increasing awareness for energy conservation:

Polyurethane foams are extensively used in the form of insulators, adhesives, sealants and binders in construction applications. These materials help minimize infrastructural costs through reduced energy consumption. Thus, the increasing awareness for energy conservation will have a positive impact on the polyurethane foam market.

  • Growing auto sector:

Polyurethane foams are being extensively used in vehicular components such as dashboards, armrests, airbags and so on. An upsurge in vehicle sales will create an increased demand for these foams. Moreover, inclusion of these products in other components will also propel the growth of the polyurethane foam market.

  • Rise in production of bio-based polyols:

Environmental awareness including issues such as the burden on fossil fuel deposits and impact of plastics may hinder the polyurethane foam market growth. However, alternatives such as the production of polyols using bio-based materials like soy-based polyols are environment friendly and sustainable. Moreover, these polyols offer significant advantages over conventional polyols. As a result, the use of bio-based polyols may counter the negative outlook towards the use of petroleum-based polyurethane foams.

Polyurethane Foam Market Restraints:

  • Environment protection regulations:

The use of methylene chloride can have adverse effects on human health. Also, it releases volatile organic materials which are deemed hazardous. Stringent regulations imposed on the use of methylene chloride pose a threat to the polyurethane foam market’s expansion. For instance, the regulation imposed by the U.S. EPA for new and existing plant sites have deterred the growth of the market.

  • High raw material cost:

Feedstock material like toluene di-isocyanate, methyl di-p-phenylene and polymeric isocyanate are commonly used in the production of polyurethane foams. The increasing costs of these materials are creating a sharp increase in the production costs. Therefore, the high costs of raw materials can hamper the acceleration of the market.

Company Profiles and Competitive Intelligence:

The key players operating in the market are:

  1. Bayer AG
  2. Sekisui Chemicals
  3. Trelleborg AG
  4. Future Foam
  5. Elliot Co.
  6. Recticel
  7. Woodbridge Group
  8. Saint-Gobain S.A.
  9. Foamcraft Inc.
  10. UFP Technologies
  11. Rogers Corporation
  12. BASF
  13. Dow Chemical
  14. Evonik Industries
  15. Huntsman Corporation
  16. Chemtura Corporation

The research report analyses the ecosystem of the polyurethane foam market and categorizes it to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

Polyurethane Foam Market Segmentation: Summary

By Product Type

  • Rigid Foam
  • Flexible Foam
  • Spray Foam

By Applications

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

By Regions

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Rest of Asia Pacific
  • South America
  • ROW

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. INTRODUCTION
    1. Product Outline
    2. What is Polyurethane Foam  
    3. Different types of Polyurethane Foam  
    4. Analysis of Polyurethane Foam  Ecosystem
    5. Supply Chain Analysis
    6. Covid -19 Impact
    7. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology Overview
    9. Patent Analysis
    10. Raw Material Analysis
  2. Technology and Regulatory Landscape for Polyurethane Foam    
    1. Regulations and Standards
  3. Polyurethane Foam  Pricing Analysis
    1. Prices of Polyurethane Foam   
  4. Polyurethane Foam by Type of Product
    1. Rigid foam
    2. Flexible foam
    3. Spray foam
  5. Polyurethane Foam  by Application
    1. Bedding & Furniture
    2. Building & Construction
    3. Automotive
    4. Electronics
    5. Footwear
    6. Packaging
    7. Others
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  7. Key Strategic Insights
    1. New Applications
    2. Emerging Technologies
    3. Opportunity mapping
    4. Critical Success Factors
    5. Environmental Impact and sustainability issues
    6. Consumer preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1. New Raw Material Sources
    2. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    3. Strength of product portfolio
    4. Ranking of Key Players
    5. Presence of players by Geographies
  10. KEY GLOBAL PLAYERS
    1. Bayer AG
    2. Sekisui Chemicals
    3. Trelleborg AG
    4. Future Foam
    5. Elliot Co.
    6. Recticel
    7. Woodbridge Group
    8. Saint-Gobain S.A.
    9. Foamcraft Inc.
    10. UFP Technologies
    11. Rogers Corporation
    12. BASF
    13. Dow Chemical
    14. Evonik Industries
    15. Huntsman Corporation
    16. Chemtura Corporation
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