The global Polyurethane Foam Market is expected to reach USD 91.96
billion by 2024, according to a new report by Grand View Research, Inc.
Increasing construction spending coupled with high demand from bedding &
furniture industry for cushioning and insulation is estimated to drive industry
growth.
Polyurethane foams consumption is anticipated to
increase significantly owing to reduced wastage, elevated recyclability,
greater sustainability, and reduce energy consumption throughout their life
cycle. Growing requirement in end-use industries such as packaging and footwear
is anticipated to further compliment growth.
Various governments and federal agencies are
increasingly being concerned with detrimental health effects of isocyanates
utilized in PU production. Recent trends in PU production include the
elimination of chlorinated fluorocarbon blowing agents, due to toxicity &
sustainability concerns.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/polyurethane-foam-market
Further key findings from the report
suggest:
·
Global polyurethane foams market demand was 9.46
million tons in 2015 and is expected to reach 12.74 million tons by 2024,
growing at a CAGR of 3.3% from 2016 to 2024
·
Flexible foam was the leading product segment
and accounted for over 55% of the global volume in 2015. Strong demand from
end-use industries such as transportation and furniture for cushioning
applications is expected to drive the segment growth over the forecast period.
·
Construction accounted for over a quarter of
overall volume in 2014. Increasing construction spending coupled with
regulatory intervention are expected to remain key driving factors for this
segment.
·
Transportation is expected to witness the
highest growth of 4.1% over the forecast period. Increasing automobile
production in Asian countries such as India, China, Indonesia, and Thailand is
expected to remain a key driving factor for this segment. Recovery of
automotive industry from financial crisis in the U.S and parts of Europe are
also expected to fuel demand growth.
·
Asia Pacific emerged as the leading consumer
with demand share estimated at 44.6%in 2015. Asia Pacific is also expected to
witness the highest growth over the forecast period. Emerging economies of
China and India are major consumers of PU foam and are characterized by rapidly
expanding manufacturing sector along with adequate raw material availability.
·
Global Polyurethane Foam Market is fragmented in
nature with considerable presence of integrated companies as well as
independent manufacturers. Key industry participants include BASF S.E.,
Huntsman Corporation, Trelleborg AG, The Dow Chemical Company and Recticel
S.A.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the polyurethane foams market on the basis of product, application and region:
Global Polyurethane Foams Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Rigid Foam
·
Flexible Foam
Global Polyurethane Foams Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Bedding & furniture
·
Transportation
·
Packaging
·
Construction
·
Electronics
·
Footwear
·
Others
Polyurethane Foams Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
North America
·
U.S
·
Canada
·
Mexico
·
Europe
·
Germany
·
France
·
UK
·
Russia
·
Asia Pacific
·
China
·
India
·
Japan
·
South Korea
·
Central & South America
·
Brazil
·
Middle East & Africa
·
Saudi Arabia
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