Polyurethane (PU) Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Polyurethane (PU) Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global polyurethane (PU) foam market size reached US$ 48.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 71.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.

Polyurethane foam is a synthetic polymer that offers insulation and protection to materials against abrasion, temperature, moisture, impact and corrosion. It is commonly available in the spray, flexible and rigid forms and is primarily used as stuffing in beddings and furniture. It is hypoallergenic, non-toxic, does not degrade over time and can also rapidly react with moisture to expand and bond with the surfaces with high adhesion after application. Owing to this, it finds extensive applications across various other industries, including automotive, packaging, construction and electronics.

Significant growth in the construction industry, along with the rising product demand from the furnishing sector, is one of the key factors that is creating a positive outlook for the market. Furthermore, widespread adoption of flexible and semi-rigid polyurethane foams that are used with coatings, paints and adhesives in residential and commercial complexes is also contributing to the market growth. Additionally, various product innovations and the development of bio-based polyols that are used for manufacturing polyurethane foam and have minimal carbon emissions into the environment, are providing an impetus to the demand for this type of foam. Moreover, extensive utilization of polyurethane foam in the automotive industry is acting as another major growth-inducing factor. It is used in this industry for manufacturing light-weight automobile components, such as dashboards, airbags, armrests and other exterior parts, which further aids in enhancing the overall fuel-efficiency of the vehicle. Other factors, including rapid industrialization, along with increasing product demand from the packaging industry, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global polyurethane (PU) foam market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on structure, product type, density and end-use industry.

Breakup by Structure:

Open Cell
Closed Cell

Breakup by Product Type:

Flexible Foam
Rigid Foam
Spray Foam

Breakup by Density:

Low Density
Medium Density
High Density

Breakup by End-Use Industry:

Bedding and Furniture
Building and Construction
Electronics
Automotive
Packaging
Footwear
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being BASF SE, Covestro AG, Foamcraft Inc., Future Foam Inc., Huntsman International LLC. (Indorama Ventures Public Company Limited), Recticel NV/SA, Rogers Corporation, Saint-Gobain S.A., Sekisui Chemical Co. Ltd., The Dow Chemical Company, Tosoh Corporation, UFP Technologies Inc. and Wanhua Chemical Group Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the global polyurethane (PU) foam market in 2022?
2. What is the expected growth rate of the global polyurethane (PU) foam market during 2023-2028?
3. What are the key factors driving the global polyurethane (PU) foam market?
4. What has been the impact of COVID-19 on the global polyurethane (PU) foam market?
5. What is the breakup of the global polyurethane (PU) foam market based on the product type?
6. What is the breakup of the global polyurethane (PU) foam market based on the density?
7. What is the breakup of the global polyurethane (PU) foam market based on the end-use industry?
8. What are the key regions in the global polyurethane (PU) foam market?
9. Who are the key players/companies in the global polyurethane (PU) foam market?