Polyurethane Foam Market Worth $75.3 Billion by 2027 At A Growth Rate of 6.7% - IndustryARC
September 23, 2022
Use Of Polyurethane Foam in The Automotive Sector, Will Continue To Drive The Global Polyurethane Foam Market.HYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Polyurethane Foam Market size is forecasted to reach US$75.3 billion by 2027 after growing at a CAGR of 6.7% during 2022-2027. Polyurethane form is a thermal insulators that is being used in walls, roofs, doors, and windows for uniform temperature maintenance and reduced noise levels. Polyurethane Foam industry assists in controlling air infiltration, heat flow, and solar heating systems. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
1. The Polyurethane Foam Market size will increase due to high demand for applications in construction, packaging, furniture, footwear, and others.
2. The Asia Pacific region holds a dominant market share in the Polyurethane Foam industry due to the high demand generating from automotive industry. Thus, boosting the demand for Polyurethane Foam in this region.
3. The demand for Polyurethane Foam is increasing as it is widely utilized as a cushioning material for mats used in martial arts, gymnastic, and wrestling among others.
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Segmental Analysis :
1. Low-density polyurethane foam held the largest share of over 45% in the Polyurethane Foam Market in 2021. Low-density polyethylene foam has numerous applications because of its many desirable properties including water-resistance, chemical resistance, energy-absorbance, buoyancy and cushioning characteristics.
2. According to the Ministry of Housing & Urban Affairs, GDP from construction in India increased to US$31.53 Billion in the third quarter of 2021 from US$28.9 Billion in the second quarter of 2021. Thus, use of Polyurethane Foam in the building & construction will bolster the market growth for Polyurethane Foam Market in the forecast period.
3. Factors like growing demand for polyurethane foams from various industries as well as rising footprint of the global players dealing in polyurethane foams is expected to drive the polyurethane foams market in the region. The regional market is characterized by the easy availability of land and low-cost skilled labor.
Competitive Landscape :
The top 5 players in the Polyurethane Foam Industry are -
2. Eurofoam Group
4. Woodbridge Group
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Related Reports :
A. Spray Polyurethane Foam Market
B. Rigid Polyurethane Foams Market