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(I-AutoNewsWire.com, September 28, 2022 ) The global "Polyurethane Foam 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 major reasons for the growth of the polyurethane foams market include growing end-use industries such as bedding & furniture, electronics, automotive, and building & construction, in emerging economies like India, Thailand, and others. Some of the other like increased use of polyurethane foams in building insulations for energy conservation and versatility and unique physical properties of polyurethane foams are driving factors for growth of polyurethane foams market.
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The Middle East is estimated to be the fastest growing region, in terms of value, in the global polyurethane foams market. The growth of the Middle East Polyurethane Foam Market can be attributed to the flourishing building & construction and bedding & furniture industries in the region that are the key consumers of polyurethane foams. The increasing demand for energy-efficient buildings in GCC is leading to the growth of the polyurethane foam market in Middle East as well.
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), Chemtura Corporation (Lanxess) (US), DuPont (US), Recticel NV/SA (Belgium), Rogers Corporation (US), UFP Technologies, Inc. (US), INOAC Corporation (Japan), Trelleborg AB (Sweden), FoamPartner Group (Switzerland), FXI (US), Armacell (Luxembourg), Eurofoam Group (Austria), Woodbridge Foam Corporation (Canada), Future Foam, Inc. (US), and Tosoh Corporation (Japan), Foamcraft, Inc. (US), are the key players in polyurethane foam market.
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Browse in-depth TOC on "Polyurethane Foam Market”
199 - Market Data Tables
48 - Figures
246 - Pages
Covestro AG is the dominant player in the global polyurethane foam market. The company invests in R&D to introduce innovate products, which can be of higher quality and can be used across end-use industries at affordable prices. It also has a strong distribution channel, making products available across the globe to various end-use industries. Covestro AG is among the largest producers of polyurethane foam in Germany. The company has a wide range of product offerings, as it is among the largest producers in the country. It has the highest R&D expenditure percentage in comparison with other major players in the market and has also expanded in recent years.
BASF SE is a leading supplier of polyurethane systems, specialties, and basic products such as polyurethane foams, and polyurethane raw materials. The company has a broad product portfolio comprising spray polyurethane foams, basic products, specialty elastomers (such as thermoplastic polyurethane (TPU) and microcellular elastomers), and other customized products. The polyurethane products offered by it are used in automotive, construction, sports & leisure, shoes, furniture, electronics, and insulation applications. BASF SE offers different groups of polyurethane systems based on their hardness, softness, integrity, or compactness.
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