Polyurethane is a form of polymer or plastic belongs to the wide range & highly diversified family of polymers. It is also known as carbon-carbon composites. It is defined as solid or open structured form of polyurethane. It is generally available in the flexible or rigid form. It protects the products by providing excellent dielectric & adhesive properties. It is resistant to temperature, water, abrasion, impact and weather. It is used in the production of vehicle components for instance seats, headrests, roof liners, dashboards, armrests, and instrument panels. It is used in industries like construction, consumer goods, electrical & electronics, healthcare, sports equipment, automotive, and furniture & bedding.
According to study, “Polyurethane Foam Market Research Report: by Type (Flexible, Rigid, Spray), by Application (Building & Construction, Bedding & Furniture, Automotive, Electronics, Packaging, Footwear, Others), and Region - Forecast to 2023” the key companies operating in the polyurethane foam market are NITTO DENKO Corporation, BASF SE, DowDuPont Inc., Recticel, Trelleborg AG, Tosoh Corporation, Sekisui Chemical Co., Ltd., Huntsman International LLC, LANXESS, Armacell, Compagnie De Saint-Gobain S.A., Chemtura Corporation, Foampartner Group, Eurofoam Group, Fxi-Foamex Innovations, Foamcraft, Inc., Future Foam, Inc., Inoac Corporation, Rogers Corporation, UFP Technologies Inc., Vita S.A.R.L., Woodbridge Foam Corporation, Adient, Foam Supplies, Inc., American Foam Products, Interfoam Limited, Carpenter Co., Heubach Corporation, Henkel Polybit, Rempac Foam, Covestro AG. Wanhua Chemical Group Co., Ltd., Interplasp.
Based on type, polyurethane foam market is segmented into rigid foams (insulation, flotation modules and decorative & architectural applications), flexible foams (cushioning, filtration, apparel padding), and spray foams (air-barriers, roofing, flotation, packaging). Based on application, market is segmented into thermal insulations, sealing, seating, mattress & pillows, carpet cushioning, medical, office furniture, air sealing, door panels, sound absorption & vibration dampening, energy absorbers, shoe bottoms, shoe midsoles, shoe upper, composite & foam packaging and others. In Addition, based on end-user, market is segmented into packaging, automotive, footwear, building & construction, electronics, bedding & furniture and others. The bedding & furniture segment holds major share in market on account of the rise in use of polyurethane foams in mattress due to their memory, breathability, resilience, and anti-bacterial properties. They are also used in furniture seats owing to their elasticity, durability, and high density.
The polyurethane foam market is driven by high demand in building insulation for energy conservation, followed by growth of end-use industries in emerging nations, increase in emphasis on recycling, rise in demand from bedding, carpet and cushioning industry and versatility & unique physical properties. However, fluctuating prices of raw materials and stringent environmental regulations on the use of flexible polyurethane foam may impact the market. Moreover, rise in production of bio-based polyols is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share, followed by European region in polyurethane foam market owing to rise in investments made by the international companies, high demand for electronic appliances and growth in population in the region. The North-American region is estimated to witness higher growth rate due to increase in applicability of rigid polyurethane foam in automotive & building & construction industries and rise in demand for flexible polyurethane foam from end-use industries over the forecast period.
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Ankur Gupta, Head Marketing & Communications