New York, NY, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Polyurethane Foam Market by Product (Spray Foam, Rigid Foam, and Flexible Foam), by End-User (Automotive, Bedding & Furniture, Packaging, Electronics, Transportation, Bedding & Furniture, Footwear, Textile & Apparel, and Other End-User Industries): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global polyurethane foam market was valued at USD 50.13 billion in 2017 and is expected to reach USD 86.47 billion by 2024, growing at a CAGR of 8.1% between 2018 and 2024.
Polyurethane foam is being progressively utilized in our daily lives. Polyurethane is a prime member of the highly diverse family and the wide-range of polymers.
Browse through 60 Tables & 37 Figures spread over 110 Pages and in-depth TOC on “Global Polyurethane Foam Market Size 2017 Report: Industry Type, Segments, Growth Analysis and Forecast, 2024”.
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Polyurethane foam is generally known as carbon-carbon composites that are extensively utilized in different end-user industries. In 2017, polyurethane foam was utilized in various end-user industries thus generating a huge demand. The rising demand for the polyurethane foam by different end-user industries is anticipated to propel the market growth. Strong growth witnessed across the automotive industry globally is expected to be the prime driver for the polyurethane foam market growth. Polyurethane foam offers superior insulation and protection from corrosion so highly utilized in the construction of the roofs and the walls. It helps to maintain constant temperature and minimize noise level inside the building. Enough raw material accessibility is also one of the factors that will help to lift the market. The variable prices of the raw materials may obstruct the growth of the market. The manufacturing companies are focusing on innovative products which are likely to open new opportunities for the market.
Based on the products, the global polyurethane foam market includes spray foam, rigid foam, and flexible foam. Flexible foam segment is estimated to grow at the highest CAGR within the forecast period. Flexible foam is more preferable in various end-user industries. In 2017, flexible foam accounted for more than half share of the total polyurethane foam market. The building & construction segment was the largest end-user of the market in 2017. It accounted for above 35% share of the market in 2017, as polyurethane foam contains different mechanical properties such as corrosion resistance and better strength. Hence, it is expected to maintain its superiority in the upcoming years. Moreover, rising demand for polyurethane foam in the construction industry is expected to propel the market growth over the years to come.
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In 2017, Europe was the second largest market of polyurethane foam, which held around 27% share of the polyurethane foam market among other regions. Furthermore, the rising industrial activities in the UK, France, and Germany are expected to fuel the market’s profit margin over the upcoming years. The growth of the polyurethane foam market in the overall region is due to the increasing product demand in the automotive and construction industries. Increasing demand for polyurethane foam in automobile industries is expected to propel the market size in the region over the forthcoming years.
North American region is expected to witness the sustainable growth for polyurethane foam market during the forecast period. The U.S. was the major contributor to the polyurethane foam market growth in 2017. Moreover, the increasing industrial activities are witnessing an above-average growth due to the massive activities in automotive and construction end-user industries in the region.
Browse the full "Polyurethane Foam Market by Product (Spray Foam, Rigid Foam, and Flexible Foam), by End-User (Automotive, Bedding & Furniture, Packaging, Electronics, Transportation, Bedding & Furniture, Footwear, Textile & Apparel, and Other End-User Industries): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/polyurethane-foam-market
Latin America and the Middle East & Africa are anticipated to experience the upright growth for polyurethane foam market during the forecast period, owing to the noteworthy investments made by the international companies for polyurethane foam projects in these regions, which, in turn, is projected to gain traction for the market’s growth over the next few years.
Some of the major players of the global polyurethane foam market are Bayer AG, Saint-Gobain S.A., Huntsman Corporation, Chemtura Corporation, Reciticel, BASF, Trelleborg AG, Dow Chemical, UFP Technologies, Foamcraft, Inc., Sekisui Chemicals, Elliot Co., Evonik, Future Foam, Woodbridge Group, and Rogers Corp., among others.
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This report segments the global polyurethane foam market as follows:
Global Polyurethane Foam Market: Product Analysis
- Spray Foam
- Rigid Foam
- Flexible Foam
Global Polyurethane foam market: End-User Analysis
- Automotive
- Bedding & Furniture
- Packaging
- Electronics
- Transportation
- Bedding & Furniture
- Footwear
- Textile & Apparel
- Others
Global Polyurethane Foam Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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