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News & Insights | Textile Industry

Top 15 PU and PU Foam Companies, Worldwide 2023: MarketsandMarkets 360 Quadrant Published

Published: October 12, 2023
Author: TEXTILE VALUE CHAIN

We are thrilled to present the latest insights into the thriving world of the Composite industry. MarketsandMarkets has unveiled the much-awaited 360 Quadrant for Top 15 PU and PU Foam Companies, Worldwide 2023, aimed at empowering businesses to make quicker and more informed decisions.

360 Quadrants releases its list of “Top 15 PU and PU Foam Companies, Worldwide 2023” in partnership with MarketsandMarkets. The report recognizes the standouts in the Polyurethane Foam market ranging from mid-sized enterprises to Fortune 500 companies.

The market for polyurethane foam is anticipated to increase from USD 42.8 billion in 2021 to USD 61.5 billion by 2026, with a predicted CAGR of 7.5% between 2021 and 2026. The market is expanding primarily because of the rising demand for polyurethane foams across a range of end-use sectors. In order to create energy-efficient buildings, rigid and spray polyurethane foams are widely employed in the building and construction end-use industry. Additionally, lightweight auto parts, high-performance apparel, footwear, and sporting goods are all made with polyurethane foams. As a result, one of the main factors influencing the global market for these foams is thought to be their vast range of applications.

The global polyurethane foam market is also being driven by substantial expenditures in the construction of new infrastructure and housing, as well as in the repair of non-residential buildings, in the US, China, India, and Brazil.

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MARKET LEADERS 

  • Covestro
  • BASF
  • Wanhua Chemical
  • Dow
  • Sekisui Chemical
  • Huntsman
  • LANXESS

INNOVATORS 

  • Carpenter
  • UFP Technologies
  • INOAC

EMERGING COMPANIES

  • Woodbridge
  • Tosoh

CONTENDERS

  • DuPont
  • Eurofoam
  • Saint-Gobain
The 360 Quadrants effectively evaluates emerging companies in the PU and PU Foam industry. They focus on specific areas and offer specialized knowledge, targeted support, flexible terms, and competitive prices. While they may have limited capabilities, they are preferred for specific use cases. These companies employ strategies to expand sales and reach a broader client base. This segment of the quadrant has identified Woodbridge and Tosoh as emerging companies.
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Evaluation Criteria
The vendor evaluation was conducted on over 100 companies of which the top 15 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, vendor’s market share, and business strategies have been considered to evaluate the PU and PU Foam quadrant. The top criteria for company evaluation were Type (Rigid Foam, Flexible foam, and Spray foam) and end-use (Building and construction, Bedding, and furniture, Automotive, Electronics, Footwear and Packaging).
360Quadrants Scoring Methodology
360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.
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