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Jul 08, 2023

Polyurethane Foam Market size to grow by 6.84 million tons at a CAGR of 7.63% from 2022 to 2027; Growth Driven by increasing demand for PU foams in furniture and bedding

News provided by 20 Jun, 2023, 05:45 ET Share this article NEW YORK, June 20, 2023 /PRNewswire/ -- The polyurethane foam market size is set to grow by 6.84 million tons from 2022 to 2027 and register

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20 Jun, 2023, 05:45 ET

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NEW YORK, June 20, 2023 /PRNewswire/ -- The polyurethane foam market size is set to grow by 6.84 million tons from 2022 to 2027 and register a CAGR of 7.63%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study through the synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

Polyurethane Foam Market 2023-2027: Segmentation

The polyurethane foam market is segmented as follows:

The market share growth of the furniture and bedding segment will be significant for market growth during the forecast period. The use of PU foams in furniture seats is driven by their characteristics of high density, remarkable elasticity, and long-lasting durability. As the demand for mattresses in the bedding and furniture sectors continues to rise, there will be a significant increase in the need for PU foams. Moreover, PU foams are extensively utilized in mattresses due to their distinct qualities, including resilience, memory, anti-bacterial properties, and breathability. Hence, the abovementioned factors are expected to drive the growth of the furniture and bedding segment in the PU foams market during the forecast period.

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Polyurethane Foam Market 2023-2027: Vendor Analysis and Scope

To help businesses improve their market position, the polyurethane foam market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include All Foam Products Co., Armacell International SA, Changzhou Sanhe Plastic Rubber Co. Ltd., Clark Foam Products Corp., Dafa AS, FoamPartner Switzerland AG, Hira Industries LLC, INOAC Corp., Johnson Controls International Plc., JSP Ltd., Mitsui Chemicals Inc., Orlando Products Inc., Palziv Inc., PAR Group Ltd., Pregis LLC, PTI Rubber and Gaskets Inc., Rogers Foam Corp., Sealed Air Corp., Wisconsin Foam Products, and Zotefoams Plc.

Vendor Offerings

Polyurethane (PU) foam market – Market Dynamics

Key Drivers

The increasing demand for PU foams in furniture and bedding notably drives market growth. PU foams find application in a variety of areas, including furniture and bedding, construction, and automotive. Flexible PU is used in the production of office chairs, stadium seats, auditorium seats, carpets, luxury beds, and various other types of furniture.

These foams possess qualities such as softness, durability, shape retention, and excellent support. They are often used as cushioning material because of their excellent physical properties, such as lightweight, low odor, toughness, and quick post-compression recovery. As a result, the upholstered furniture and mattress sectors make immense use of flexible PU foams. Hence, the abovementioned factors are expected to drive the growth of the PU foams market during the forecast period.

Major Trends

Increased use of methylal and HFOs as alternatives to HFCs and HCFCs is an emerging trend in the market. Methylal, characterized by its clear, colorless, and flammable nature, emits a pleasant odor and possesses a relatively low boiling point. It demonstrates moderate solubility in water and can easily mix with common organic solvents. Primarily serving as a solvent, methylal finds application in the production of adhesives, resins, paint strippers, perfumes, and protective coatings. Notably, these alternatives present notable advantages, including lower Global Warming Potential (GWP) in comparison to HFCs and HCFCs. Moreover, the prohibition on HCFCs in the United States and emerging European countries will likely result in increased utilization of methylal in these regions.

Furthermore, these foam-blowing agents exhibit a reduced environmental impact and are highly energy efficient and non-flammable, distinguishing them from HFCs and HCFCs. Hence, these factors are expected to drive the growth of the PU foams market during the forecast period.

Significant Challenges

Regulations on the use of blowing agents are the major challenges hindering market growth. HFCs, HCFCs, and HFOs are popular blowing agents used in manufacturing PU foams. However, there are limitations to the use of HFCs and HCFCs in the production of PU foams. Several developing nations, including China, India, and Brazil, are attempting to comply with the Montreal Protocol.

These countries are working towards implementing bans on substances that contribute to ozone layer depletion. These protocols will pose a challenge for companies that manufacture PU foam and will impact the PU foam market during the forecast period.

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Polyurethane Foam Market 2023-2027: Key Highlights

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Related Reports:The spray polyurethane foam market size is estimated to grow at a CAGR of 9.04% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,312.48 million. Furthermore, this report extensively covers market segmentation by application (residential, commercial, and industrial), type (open cell and closed cell), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The emergence of bio-based PU foams is a crucial factor driving market growth.

The polyurethane (PU) coatings market size is estimated to grow at a CAGR of 6.2% between 2022 and 2027. The size of the market is forecast to increase by USD 9,719.29 million. This report extensively covers market segmentation by end-user (wood and furniture, automotive and transportation, electrical and electronics, and others), type (solvent-borne, water-borne, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing demand from the transportation industry is a key factor driving the growth of the polyurethane (PU) coatings market.

Polyurethane Foam Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.63%

Market growth 2023-2027

6.84 million tons

Market structure

Fragmented

YoY growth 2022-2023(%)

7.14

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 46%

Key countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

All Foam Products Co., Armacell International SA, Changzhou Sanhe Plastic Rubber Co. Ltd., Clark Foam Products Corp., Dafa AS, FoamPartner Switzerland AG, Hira Industries LLC, INOAC Corp., Johnson Controls International Plc., JSP Ltd., Mitsui Chemicals Inc., Orlando Products Inc., Palziv Inc., PAR Group Ltd., Pregis LLC, PTI Rubber and Gaskets Inc., Rogers Foam Corp., Sealed Air Corp., Wisconsin Foam Products, and Zotefoams Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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