Increased use of polyurethane foams in building insulations for energy conservation driving the Polyurethane Foam Market

September 24 13:24 2021
Increased use of polyurethane foams in building insulations for energy conservation driving the Polyurethane Foam Market
Browse 199 market data Tables and 48 Figures spread through 246 Pages and in-depth TOC on “Polyurethane Foam Market”
Polyurethane Foam Market by Type (Rigid Foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging, Others), and Region

The global polyurethane foams market is projected to grow from USD 37.8 billion in 2020 to USD 54.3 billion by 2025, at a CAGR of 7.5% from 2020 to 2025. The major reasons for the growth of the polyurethane foams market include growing end-use industries such as bedding & furniture, electronics, automotive, and building & construction, in emerging economies like India, Thailand, and others. Some of the other like increased use of polyurethane foams in building insulations for energy conservation and versatility and unique physical properties of polyurethane foams are driving factors for growth of polyurethane foams market. 

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Polyurethane foams are used in insulation, adhesives, sealants, and binders in a variety of construction products and other applications. Polyurethane foams are highly flexible materials, which help reduce total infrastructural costs by minimizing energy consumption in buildings. They enable architects to insulate buildings in an improved manner, which reduces the consumption of gas, oil, and electricity in them. This has led increased use of polyurethane foams for building insulation applications.

Building & construction is projected to be a large consumer of polyurethane foam during the forecasted period.

Polyurethane foam is used in numerous applications in the building & construction end-use industry. This foam is used as thermal insulators, in floorings & waterproofing, and for air sealing applications. The spray and rigid polyurethane foams are also used as structural and insulation foams in buildings . Although, the COVID-19 is estimated to have a huge impact on the building & construction sector, still this end-use industry stands as one of the major consumers of polyurethane foams as the volume of these foams used in this industry is more than other end-use industries.

Asia Pacific is projected to grow at the highest CAGR during the forecast period.

Asia Pacific is projected to be the fastest-growing market for polyurethane foam during the forecast period. 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.

Covestro AG (Germany), BASF SE (Germany), Wanhua Chemical Group Co., Ltd. (China), Dow Inc. (US), and Huntsman Corporation (US) are some of the leading players operating in the polyurethane foam market.

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