The Global Polyurethane Foam Market Is Expected To Reach $60.5 Billion By 2022
IRVING, TX – May 17, 2017 – According to a new market report published by Lucintel, the future of global polyurethane (PU) foam market looks good with opportunities in various applications, such as building and construction, bedding and furniture, transportation, electrical and electronics, footwear, and others. The global polyurethane foam market is expected to reach an estimated $60.5 billion by 2022 and it is forecast to grow at a CAGR of 4.0% from 2017 to 2022. The major growth drivers for this market are growth in bedding and furniture industry, high demand of PU foam in building insulation for energy conservation and increasing automotive production.
In this market, building and construction, bedding and furniture, automotive and transportation, electrical and electronics, and footwear are the major applications. On the basis of its comprehensive research, Lucintel forecasts that bedding and furniture is expected to be the largest market. The footwear segment is expected to show the highest growth rate during the forecast period from 2017 to 2022.
Within the global polyurethane foam market, rigid foam, flexible foam, and spray foam are the various types of polyurethane foam. Flexible foam is expected to remain the largest market by value and volume, mainly driven by applications in different industries, such as furniture and bedding, automotive interiors, packaging, textiles, and others due to its lightweight, durable, resilient and energy absorption properties.
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By material, MDI based foam and TDI based foam are the major materials used to manufacture PU foam. TDI based foam is expected to remain the largest market due to growth in bedding and furniture, and automotive industry.
Asia Pacific is expected to remain the largest market and is also expected to witness above average growth over the forecast period due to growth in end-use industries. Increasing construction spending in countries, such as China, India, South Korea, and Indonesia is the major driver for the growth.
Emerging trends, which have a direct impact on the dynamics of the industry, includes emergence of carbon dioxide-based flexible foam and usage of natural based raw materials to manufacture polyurethane foam. Recticel, UFP Technologies, Chemtura Corporation, Vita foam, Carpenter and Eurofoam Group are among the major suppliers for the global polyurethane foam market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for the global polyurethane foam market and has come up with a comprehensive research report entitled “Growth Opportunities of Global Polyurethane Foam Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for global polyurethane foam market by application, type, raw material, density, country, and region as follows:
By Application Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
Building and Construction
Bedding and Furniture
Electrical and Electronics
By Foam Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
By Density Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
High Density Foam
Low Density Foam
By Raw Material Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
MDI Based Foam
TDI Based Foam
By Country (Value ($M) and Volume (M lbs) from 2011 to 2022):
By Region Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
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