Polyurethane Foam Market to Surpass Revenues Worth US$ 61.5 billion by 2026| MarketsandMarkets ™ Study
The Polyurethane Foams Market is projected to grow from USD 42.8 billion in 2021 to USD 61.5 billion by 2026, at a CAGR of 7.5% from 2021 to 2026.
The Polyurethane Foams Market is projected to grow from USD 42.8 billion in 2021 to USD 61.5 billion by 2026, at a CAGR of 7.5% from 2021 to 2026. Increasing demand for the product in mattress and furniture manufacturing industries is expected to propel the market growth. The rising requirement for lightweight and durable materials in the automotive industry is anticipated to drive the market over the forecast period. Polyurethane foam provides superior thermal insulation and cushioning properties, thereby making it an ideal choice for automotive interior components. Furthermore, the product is used in the production of various automotive parts such as headrests, armrests, seat cushions, door trims, and dashboard components. The increasing demand for flexible foam in the construction sector is likely to fuel the market. Polyurethane foam is used in various construction projects due to its energy-saving properties and cost-effectiveness. The product is used to insulate walls, roofs, and other surfaces to reduce energy loss due to heat transfer and thus, enhance the efficiency of air conditioning systems. Moreover, the increasing utilization of the product in bedding and furniture manufacturing is expected to drive the product demand. Polyurethane foam is widely used in mattresses, cush.Download PDF – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1251By type, rigid foam is estimated to be the leading segment of polyurethane foam from 2021 to 2026Rigid foam is a type of polyurethane foam that is rigid and durable, making it ideal for applications that require high strength and insulation. Rigid foam is used in a variety of applications including industrial, residential, and commercial insulation; as a structural support in roofs, walls, and floors; and as a sound barrier. It is also used to make furniture and mattresses, as well as for packaging and shipping materials. The increasing demand for insulation materials in commercial and residential applications is expected to drive the growth of the rigid foam segment during the forecast period.By end-use industry, automotive is estimated to be the fastest-growing segment of polyurethane foamPolyurethane foam is used in a wide range of industries, with automotive being one of the largest and fastest-growing applications. Automotive uses of polyurethane foam include insulation, seat cushions, headrests, armrests, and dashboards. Polyurethane foam is ideal for automotive applications due to its excellent thermal and acoustic insulation properties, as well as its lightweight yet durable nature. Additionally, polyurethane foam is easy to shape and mold, making it ideal for complex parts with tight tolerances.Get Sample Report – https://www.marketsandmarkets.com/requestsampleNew.asp?id=1251Asia Pacific regional segment accounted for the largest share in the Polyurethane Foam market The Asia Pacific region dominated the global polyurethane foam market in 2019 and is expected to continue its dominance over the forecast period. This can be attributed to the increasing demand for polyurethane foam in various applications such as furniture, automotive and construction, among others, in the region. The increasing population in the region is expected to boost the demand for residential and commercial buildings, which in turn is expected to have a positive impact on the growth of the market. In addition, the increasing demand for automobiles in the region is expected to further drive the market growth. Furthermore, the presence of major players in the region is expected to propel the market growth. Competitive Landscape The polyurethane foam market is highly competitive and consists of a number of major players. Some of the key players in the market include BASF SE, Dow, Recticel, Huntsman International LLC, and Woodbridge Foam Corporation. The major players are focusing on strategic developments such as mergers and acquisitions, product launches, and partnerships to gain a competitive advantage in the market.Covestro AG (Germany), BASF SE (Germany), Wanhua Chemical Group Co., Ltd. (China), Dow Inc. (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), Bayer AG (Germany), Chemtura Corporation (Lanxess) (US), DuPont (US), Recticel NV/SA (Belgium), Rogers Corporation (US), UFP Technologies, Inc. (US), INOAC Corporation (Japan), Trelleborg AB (Sweden), FXI (US), Armacell (Luxembourg), Eurofoam Group (Austria), Woodbridge Foam Corporation (Canada), Future Foam, Inc. (US), and Tosoh Corporation (Japan), Foamcraft, Inc. (US), are the key players in polyurethane foam market.Get Customized Report- https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1251About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. 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