The report "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", 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.
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The market is witnessing average growth worldwide due to growing end-use industries in emerging economies and the increased use of polyurethane foams in building insulations for energy conservation versatility and unique physical properties of polyurethane foams.
By type, rigid foam is estimated to hold the most significant share of the global polyurethane foam market.
By type, rigid foam is estimated to dominate the polyurethane foam market globally in terms of value. The automotive industry contributed significantly to the growth of rigid polyurethane foam. It is used extensively in vehicle interiors for insulation and soundproofing, as well as in structural components for its lightweight yet strong characteristics. As automotive manufacturers focus on reducing weight for better fuel efficiency and electrification, rigid polyurethane foam has become a critical material.
Building & construction is estimated to hold the most significant share of the global polyurethane foam market by end-use industry.
By end-use industry, the automotive segment is projected to dominate the global polyurethane foams market during the forecast period. Polyurethane foam is a popular choice for various construction applications due to its ability to provide superior thermal insulation and energy efficiency. It effectively seals gaps and prevents air leakage, making buildings more energy-efficient and environmentally friendly.
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Asia Pacific regional segment accounted for the largest share of the Polyurethane Foam market.
The Polyurethane Foam market in the Asia Pacific region accounted for the largest share in 2022. China, India, Japan, and South Korea are the major market for Polyurethane foam. This growth is driven by the automotive sector in Asia-Pacific has witnessed remarkable growth, with the region becoming a global hub for automobile manufacturing. Polyurethane foam finds extensive use in automotive interiors and insulation due to its lightweight, durable, and sound-absorbing properties. As consumer preferences for comfortable and quiet vehicles increase, the demand for polyurethane foam in this sector continues to rise.
Covestro AG (Germany), BASF SE (Germany), Wanhua Chemical Group Co., Ltd. (China), Dow (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), DuPont (US), Recticel NV/SA (Belgium), Rogers Corporation (US), UFP Technologies, Inc. (US), INOAC Corporation (Japan), Trelleborg AB (Sweden), Woodbridge Foam Corporation (Canada), Future Foam, Inc. (US), and Tosoh Corporation (Japan), Foamcraft, Inc. (US), are the key players in polyurethane foam market.