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The polyurethane foam (PU) market is estimated to grow at a CAGR of 7.63% between 2022 and 2027. The size of the market is forecast to increase by 6.84 million tons. The growth of the market depends on several factors, including increasing demand for PU foams in furniture and bedding, rising demand for PU foams in China, and superior properties of PU foams.
This report extensively covers market segmentation by application (furniture and bedding, building and construction, transport, appliances, and others), Type (flexible PU foams, rigid PU foams, and molded PU foams), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing demand for PU foams in furniture and bedding is notably driving the market growth, although factors such as regulations on the use of blowing agents may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Polyurethane Foam (PU) Market Driver
The increasing demand for PU foams in furniture and bedding is notably driving market growth. PU foams are used in various applications, such as furniture and bedding, construction, and automotive. They are used to manufacture office chairs, stadium seats, auditorium seats, carpets, luxury beds, and other furniture. Flexible PU foams are soft, durable, maintain shape, and provide support. They are widely used in cushioning material and have many desirable physical properties, including low odor, lightweight, resilience, and the ability to rapidly recover after compression. Therefore, flexible PU foams are widely used in upholstered furniture and bedding.
Flexible PU foams are an excellent and safe filling material for seating cushions and mattresses and can be customized as per the requirement of the consumer. The growing population in APAC is expected to drive the demand for furniture and bedding, which is further expected to drive the demand for PU foams during the forecast period.
Significant Polyurethane Foam (PU) Market Trend
Increased use of methylal and HFOs as alternatives to HFCs and HCFCs is the key trend in the market. Methylal is a clear, colorless, and flammable liquid with a sweet odor and a relatively low boiling point. It is moderately soluble in water and miscible with the most common organic solvents. It is generally used as a solvent in the manufacturing of adhesives, resins, paint strippers, perfumes, and protective coatings.
Methylal and HFOs are replacing HCFCs and HFCs as blowing agents in the manufacturing of PU foams. These alternatives are effective and have lower GWP content than HFCs and HCFCs. The ban on HCFCs in the US and emerging countries in Europe will increase the use of methylal in these countries. These foam-blowing agents have a low environmental impact and are highly energy efficient and non-flammable compared with HFCs and HCFCs.
Major Polyurethane Foam (PU) Market Challenge
Regulations on the use of blowing agents are the major challenges impeding the market growth. HFCs, HCFCs, and HFOs. are used as blowing agents during the manufacturing of PU foams. There is a ban on using HFCs and HCFCs in the manufacturing of PU foams. Many emerging countries, including China, India, and Brazil, are trying to follow the Montreal Protocol to ban substances that deplete the ozone layer. The protocol varies with the region. In the US, Montreal Protocol is stringent and is implemented to protect the ozone layer from depletion owing to toxic blowing agents, such as HFCs and HCFCs.
In addition, the Japanese government implemented the Kyoto Protocol to make PU foam eco-friendly. In China, the ongoing phaseout of HCFCs has led to the use of alternative low-GWP substitutes, such as methylal and HFOs. These protocols will pose a challenge for companies that manufacture PU foam and negatively impact the global PU foam market during the forecast period.
Key Polyurethane Foam (PU) Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Polyurethane Foam Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Wisconsin Foam Products - The company offers original equipment manufacturing flexible foam solutions such as finished foam products, components, assemblies, and packaging. The company offers polyurethane foam which is designed for applications related to packaging, cushioning, seating, and bedding purpose.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the furniture and bedding segment will be significant during the forecast period. PU foams are used as a filling material in furniture, such as cushions, seats, and armchairs. High density, excellent elasticity, and durability are the properties that promote the use of PU foams in furniture seats. The increasing demand for mattresses in bedding and furniture will lead to high demand for PU foams during the forecast period.
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The furniture and bedding segment was valued at 3.86 million t in 2017 and continued to grow until 2021. Flexible PU foams are soft and durable and widely used in cushions, soft cores of sofas, and other upholstered household furniture, and commercial and institutional furniture such as seating for offices, theatres, and stadiums. In bedding, PU foams are used in mattresses owing to their unique properties, such as resilience, memory, anti-bacterial, and breathability. For mattresses, PU foams are required in large quantities.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC was identified as the largest consumer of PU foams in 2020. Major countries, such as China, South Korea, India, and Japan, are the leading consumers of PU foams in the region. Flexible PU foams are mostly used in mattresses and cushions. The growing population in APAC is expected to lead to a high demand for furniture and bedding, which will increase the demand for PU foams in the region during the forecast period. In addition, increasing construction activities and rising demand for electronic appliances in APAC contribute to the growing demand for PU foams in the region.
In 2020, the outbreak of COVID-19 hampered the growth of the regional PU foam market. However, during COVID-19, the PU foam market experienced a growth in demand due to rising admissions in hospitals and the demand for more hospital beds and mattresses. In addition, various industries, such as transportation and packaging, resumed their operations in late 2020. Hence, some logistics and supply chain disruptions were resolved, and commodity chemicals were available from late 2020, which increased the demand for PU foams to some extent. Hence, the growth of the regional market is expected to stabilize during the latter half of the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global polyurethane (PU) foam market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Polyurethane Foam Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.63% |
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Market growth 2023-2027 |
6.84 million t |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.14 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 46% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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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. |
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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