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NEW YORK , May 13, 2022 /PRNewswire/ -- According to the report "Polyurethane Foam Market by Type, Application, and Geography - Forecast and Analysis 2021-2025", the market witnessed a YOY growth of 6.56% in 2021 and will witness a CAGR of 7.05% during the forecast period. The report is segmented by type (flexible PU foams, rigid PU foams, and molded PU foams), application (furniture and bedding, building and construction, transport, appliances, and others), and geography (APAC, Europe , North America , MEA, and South America ).
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The PU foam market is fragmented, and the vendors are increasing their capacities to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including BASF SE, Covestro AG, Dow Inc., Henkel AG and Co. KGaA, Huntsman Corp., INOAC Corp., Mitsui Chemicals Inc., Recticel NV, Sheela Foam Ltd., and Trelleborg AB, among others. The key offerings of some of the vendors are listed below:
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APAC will provide maximum growth opportunities in the polyurethane foam market. According to our research, the region will contribute to 39% of the global market growth during the forecast period. China and South Korea (Republic of Korea) are the key countries for the polyurethane foam market in APAC. The increasing construction activities and rising demand for electronic appliances will drive the polyurethane foam market growth in APAC during the forecast period.
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The flexible PU foams segment will have significant market share growth during the forecast period. Flexible PU foams have properties such as high durability and resilience and lightweight. They are used widely in furniture and bedding, carpet cushioning for diverse industrial applications, automotive seating, and textile laminates. Hence, the increasing applications of flexible PU foams in various industries will drive their demand during the forecast period.
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Key Market Drivers & Challenges:
The rising demand for PU foams in China is driving the growth of the polyurethane foam market in the coming years. In China , PU foams are used extensively in industries such as electrical and electronics, construction, consumer goods, healthcare, automotive, sports equipment, and furniture and bedding. This is mainly because of the economic growth of the region. Moreover, there is an increase in the number of construction projects across China . These factors will drive the growth of the segment.
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Accelerate at a CAGR of 7.05%
APAC, Europe, North America, MEA, and South America
China, Germany, US, South Korea (Republic of Korea), and Italy
Leading companies, Competitive strategies, Consumer engagement scope
BASF SE, Covestro AG, Dow Inc., Henkel AG and Co. KGaA, Huntsman Corp., INOAC Corp., Mitsui Chemicals Inc., Recticel NV, Sheela Foam Ltd., and Trelleborg AB
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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