The report “Polyurethane Foam Market by Type (Rigid Foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging) and Region – Global Forecast to 2026″, The polyurethane foams market is projected to grow from USD 42.8 billion in 2021 to USD 61.5 billion by 2026, at a CAGR of 7.5% from 2021 to 2026. The market is witnessing average growth across the world due to factors such as, growing end-use industries in emerging economies, increased use of polyurethane foams in building insulations for energy conservation and versatility and unique physical properties of polyurethane foams.
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• 239 Market data Tables
• 46 Figures
• 243 Pages and in-depth TOC on “Polyurethane Foam Market – Global Forecast to 2026″
Some of the prominent key players are:
· Covestro AG (Germany)
· BASF SE (Germany)
· Wanhua Chemical Group Co., Ltd. (China)
· Dow Inc. (US)
· Huntsman Corporation (US)
· Sekisui Chemical Co., Ltd. (Japan)
· Compagnie de Saint-Gobain SA (France)
· Bayer AG (Germany)
Opportunity: Stringent regulations in use of antibiotics in animal
New regulations by the US Food and Drug Administration (FDA), which took effect on January 1, 2017, banned the addition of antibiotics to feed to promote the growth of livestock and poultry. Also, as the European Union banned the use of antibiotics in 2006, it was necessary to explore alternatives. Hence, such stringent regulations are expected to provide opportunities for butyric acid as an alternative for antibiotics in animal feed.
By type, rigid foam is estimated to be the leading segment of polyurethane foam from 2021 to 2026.
By type, rigid foam is estimated to dominate the polyurethane foam market, globally, in terms of value. Factors, such as reduced energy costs, application as insulating foams and structural foams in commercial and residential constructions, as well as use of rigid foams for insulations in various electrical appliances such as water heaters, refrigerators, coolers, vending machines, and freezers, are expected to propel the demand for rigid foams in global polyurethane foam market.
Asia Pacific regional segment accounted for the largest share in the Polyurethane Foam market
The Polyurethane Foam market in the Asia Pacific region is accounted for the largest share in 2020. China, India, Japan, and South Korea are key countries contributing to the high demand for Polyurethane foam in this region. Innovation, price deflation, and rising household incomes, especially in emerging Asian markets, have resulted in the high demand for consumer electronic products, thereby contributing to the growth of the Polyurethane foam market in this region.
