Polyurethane Foam Market by Type (Rigid foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging), and Region - Global Forecast to 2028

Polyurethane Foam Market by Type (Rigid foam, Flexible Foam, Spray Foam), End-use Industry (Building & Construction, Bedding & Furniture, Automotive, Electronics, Footwear, Packaging), and Region - Global Forecast to 2028

The polyurethane foams market is projected to grow from USD 49.5 billion in 2023 to USD 67.8 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. One of the key factors driving the growth of the polyurethane foam market is the growing end-use industries in emerging economies. During the forecast period, construction, electronics, and automotive are projected to flourish in emerging economies such as China, India, Indonesia, and Thailand. This, in turn, is expected to drive the polyurethane foam market.

Polyurethane foams are widely used in the bedding and furniture industries, as well as the building and construction, electronics, and automotive industries. Flexible polyurethane foams are primarily used for cushioning applications in the automotive industry. These foams are among the most effective insulation materials on the market, making them ideal for the electronics industry's refrigerators and freezers. Another major user of rigid polyurethane foam for coatings, sealants, and adhesives is the construction industry

“By type, the rigid foam segment is estimated to be the largest segment of the polyurethane foam market from 2023 to 2028.”

By type, rigid foams are estimated to be the largest segment in the polyurethane foam market in 2022. It is primarily used as an insulating and structural foam in commercial and residential constructions. They are used in foam roofing boards and laminate insulations. These foams are also used as insulations in various electrical appliances, such as water heaters, refrigerators, coolers, vending machines, and freezers. The unique combinations of properties of rigid foams, such as high strength, lightweight, and low-density structure, allow them to be used in diverse applications, including thermal insulation and air barrier sealants.

“By end-use, the building & construction is estimated to be the largest segment of the polyurethane foam market from 2023 to 2028.”

By end-use industry, the building & construction industry is to lead the polyurethane foam market. Polyurethane foam’s durability and resistance to moisture, mold, and pests contribute to its popularity in the building and construction industry. It enhances the longevity of structures and reduces maintenance costs over time. These factors and a growing emphasis on energy efficiency and sustainable construction practices continue to propel the demand for polyurethane foam in the building and construction sector.

“Asia Pacific polyurethane foam market is projected to witness the greatest during the forecast period, in terms of value and volume.”

During the forecast period, Asia Pacific is projected to be the most significant market for polyurethane foam. Growing demand for polyurethane foams from various industries and the rising footprint of the global players dealing in polyurethane foams is expected to drive the polyurethane foams market in the region.

Profile break-up of primary participants for the report:

By Company Type: Tier 1 – 16%, Tier 2 – 36%, and Tier 3 – 48%

By Designation: C-level Executives – 16%, Directors – 24%, and Others – 60%

By Region: North America – 24%, Europe – 20%, Asia Pacific – 36%, South America – 8%, Middle East & Africa – 12%

The polyurethane foam market report is dominated by Covestro AG, BASF SE, Wanhua Chemical Group Co., Ltd., Dow, Huntsman Corporation, Sekisui Chemical Co., Ltd., Saint-Gobain, and Lanxess.

Research Coverage:

The report defines, segments, and projects the polyurethane foam market based on type, application, and region. It provides detailed information regarding the major factors influencing the market’s growth, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key polyurethane foam manufacturers and comprehensively analyzes their market shares and core competencies, as well as tracks and analyzes competitive developments, such as expansions, agreements, acquisitions, partnerships, new product launches, joint ventures, investments, contracts, mergers, collaborations, new technology developments, new process developments, undertaken by them in the market.

Reasons to Buy the Report:

The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the polyurethane foam market and its segments. This report is also expected to help stakeholders understand the market’s competitive landscape better, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growth of various end-use industries in emerging economies, Increased use of polyurethane foam in building insulation for energy conservation, versatility and unique physical properties of polyurethane foam), restraints (Stringent environmental regulations related to manufacturing of polyurethane foam), opportunities (Rise in production of bio-based polyols), and challenges (High raw material cost) influencing the growth of the polyurethane foam market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the polyurethane foam market.

Market Development: Comprehensive information about lucrative markets – the report analyses the polyurethane foam market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in polyurethane foam.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading as well as other players in the polyurethane foam market.