The Global Market for Foamed Polyurethane (PU Foams) is Projected to Exceed 10 Million Tons by 2020

Increasing Focus on Reducing Energy Usage in Buildings Drives the Global Foamed Plastics Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Foamed Plastics (Polyurethane) market. The global market for Foamed Polyurethane (PU Foams) is projected to exceed 10 million tons by 2020, driven by increasing focus on reducing energy usage in buildings and automobiles, and robust demand from the furniture and bedding sector.

Polyurethane (PU) foam, one of the largest segments in cellular polymeric materials, is produced either in rigid or flexible foams. Rigid PU foam is used primarily in the form of insulation material for construction and refrigeration and freezer applications, while flexible PU foams find use for cushioning in furniture, bedding and transportation applications to offer durability, safety, support, and comfort. Additionally, semi-flexible or semi-rigid foams are also manufactured for specific applications that require combination of both elasticity and stiffness features. Myriad benefits of PU foams that are driving increasing adoption over the years include superior electrical insulation, cost advantages, and performance benefits owing to their mechanical strength, lightweight nature, resistance to fatigue, resistance to oils, chemical resistance, elastic properties, and also insulation attributes.

Population growth especially in developing countries, growing focus on energy efficiency, stringent regulations, growing automotive production, and increasing deployment in appliance and industrial equipment insulation on account of rising awareness of energy-efficient freezers, manufacturing process equipment, and refrigerators, represent key growth drivers in the coming years. New construction activity and rising consumer spending are also expected to stimulate demand for flexible foams used in household products such as mattresses, bedding, appliances, and furniture. Wide ranging product offerings for diverse application areas and the shift towards the ‘green’ way of manufacturing eco-friendly PU foams given the growing focus on environment conservation represent other important factors that are expected to benefit market expansion in the near term. While sales of  PU foams globally is expected to witness steady growth, the market is however not without challenges, with the most critical ones being government regulations, volatility in raw material (TDI/MDI) prices, environmental concerns and overcapacity situation in China.

As stated by the new market research report on Foamed Plastics (Polyurethane), Asia-Pacific represents the largest market worldwide. The region also ranks as the fastest growing market worldwide with a projected CAGR of over 6.0% over the analysis period, led by countries such as China and India and end-use sectors such as furniture/bedding and construction. Steady economic development and favorable regulatory landscape are some of the key factors supporting market growth. While in China, growth is driven by the furniture/bedding sector, in India it is fostered by the growing demand for flexible foam for automotive application such as two-wheeler seats and car seats, and insulation for refrigeration and construction applications.

Key players covered in the report include Armacell International S.A., BASF SE, BASF Polyurethanes GmbH, Bayer AG, British Vita PLC, Carpenter Company, Chemtura Corporation, Baxenden Chemicals Ltd., FXI - Foamex Innovations, Huntsman International LLC, Joyce Foam Products, Mitsui Chemicals, Inc., Nimrod Plastics, Recticel S.A, Rogers Corporation, The Dow Chemical Company, Vita Group, and Woodbridge Foam Corporation, among others.

The research report titled “Foamed Plastics (Polyurethane): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World. End-use applications analyzed in the report include Furniture and Bedding, Automotive, Construction, Electrical Appliances, Recreational Equipment, Packaging, and Others.

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