LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global polyurethane foam market is expected to grow at a CAGR of close to 8% during the forecast period.
“APAC was the largest market for polyurethane foam in 2015, accounting for a market share of over 40%. The market growth in this region is driven by growth in end-user industries accompanied with population growth, higher disposable income, and rising environmental concerns”
This report titled ‘Global Polyurethane Foam Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“APAC was the largest market for polyurethane foam in 2015, accounting for a market share of over 40%. The market growth in this region is driven by growth in end-user industries accompanied with population growth, higher disposable income, and rising environmental concerns,” says Ajay Adikhari, a lead analyst at Technavio for plastics, polymers, and elastomers research.
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The market research analysis categorizes the global polyurethane foam market into three major segments based on type of polyurethane foam. They are:
- Flexible polyurethane foam
- Rigid polyurethane foam
- Spray polyurethane foam
Global flexible polyurethane foam market
The global flexible polyurethane foam market is expected to grow at a CAGR of almost 8%, during the forecast period. Flexible polyurethane foams are light, durable, comfortable and can be molded into different shapes. They resist mildew and are hypoallergenic. Cushioning made of flexible polyurethane foam is resilient, durable, strong and it absorbs energy. These are commonly used for cushioning in bedding, furniture, packaging, carpet underlay, and automotive interiors. Polyurethane foams are also used in the packaging industry as protective cushioning and packaging material for fragile materials and in the manufacture of footwear and healthcare applications.
“Developments in construction and infrastructure, and bolstering of the global automotive industry have positively impacted the polyurethane foam market,” says Ajay.
Global rigid polyurethane foam market
Rigid polyurethane foams are widely used in residential and commercial buildings for thermal insulation and soundproofing. The most common application areas of rigid polyurethane foams include roof and wall insulations, as heating and cooling systems in houses account for a large share of energy consumption worldwide. Employing rigid polyurethane for insulation purposes reduces energy costs.
Rigid polyurethanes are also used in refrigerator applications to meet the standards set by American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE). Growth in the building and construction industry across China, India, and Brazil is expected to drive market growth during the forecast period.
Global spray polyurethane foam market
Spray polyurethane foam is a mixture of fast reacting foam forming ingredients combined in a special mixing spray gun during application. Currently, spray polyurethane foam accounts for only a small percentage of the market share, however, it is expected to grow significantly in the future. Spray polyurethane foams expand on contact to produce a structure that insulates, air seals, and provides a moisture barrier. Spray polyurethane foam is generally available in open cell and closed cell forms. Growth in the building and construction industry, especially in APAC and the Middle East is expected to drive market growth during the forecast period.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Dow Chemical
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