According to the latest market research study released by Technavio, the global polyurethane foam market is expected to grow at a CAGR of close to 8% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global polyurethane foam market based on type:
Global polyurethane foam market share by type 2015
|
Flexible |
52.64% |
|
Rigid |
42.15% |
|
Spray |
5.21% |
Source: Technavio
Global flexible polyurethane foam market
The global flexible polyurethane foam market was valued at around USD25 billion in 2015 and will grow at a CAGR of close to 8% by 2020. The flexible foams are light, durable, and comfortable and can be molded into different shapes. Their properties like resistance to mildew and hypoallergenic nature helping in the growth of this market segment. Flexible polyurethane foam cushions are resilient, absorbs energy, durable, and strong.
“The extensive use of flexible foam cushioning in bedding, furniture, packaging, carpet underlay, and automotive interiors will boost the demand in this market segment. These materials find application in the packaging industry as protective cushioning and packaging material for fragile materials. These materials are also used in the manufacturing of footwear and healthcare applications. Increasing development activities in the construction and infrastructure industries will have a positive impact on the growth of this market segment,” says Ajay Adhikari, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
Global rigid polyurethane foam market
The global rigid polyurethane foam market was valued at around USD 20 billion in 2015 and will grow at a CAGR of more than 7% by 2020. The extensive use of the rigid form for thermal insulation and soundproofing by residential and commercial buildings will help in the growth of this market segment. The various applications of rigid polyurethane foams include roof and wall insulations, doors and air barrier sealants, insulated windows, and others. Rigid foam insulation help in reducing the overall energy consumption and costs. The growth in the building and construction industry across emerging countries like China, India, and Brazil will fuel the demand for these materials during the forecast period.
Global spray polyurethane foam market
The global spray polyurethane foam market was valued at over USD 2 billion in 2015 and will grow at a CAGR of around 8% by 2020. The spray foam is a mixture of active reacting foam forming ingredients combined in a special mixing spray gun during application. These materials expand when in contact to produce a structure that insulates, air seals, and provides a moisture barrier. The two different types of spray polyurethane foam available in the market include open cell and closed cell forms. The economic development in emerging countries like APAC and the Middle East will boost the demand for these materials in the market over the period of next four years.
The top leading vendors operating in the global polyurethane foam market are:
- Covestro
- BASF
- Dow Chemical
- DuPont
- Huntsman
Other prominent vendors in the market include Mitsui Chemicals, FXI Innovations, Recticel, FoamPartner, Europur, and Woodbridge Foam.
A more detailed analysis is available in the Technavio report titled, ‘Global Polyurethane Foam Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Polyurethane Market 2016-2020
- Global Bio-based Polyurethane Market 2016-2020
- Global Aerospace Foam Market 2016-2020
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