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(EstateNewsWire.com, May 03, 2024 ) 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" The polyurethane foams market is projected to grow from USD 49.5 billion in 2023 to USD 67.7 billion by 2028, at a CAGR of 6.5% during the forecast period.
Browse in-depth TOC on "Polyurethane Foam Market”
404 - Market Data Tables
48 - Figures
319 - Pages
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By type, the rigid polyurethane foam segment is projected to be the most significant segment from 2023 to 2028. This growth of rigid polyurethane foam in recent years has been substantial and is attributed to several key factors. Rigid polyurethane foam is widely recognized for its exceptional thermal insulation properties, making it a preferred choice in the construction industry for improving energy efficiency in buildings. With an increasing emphasis on sustainable and eco-friendly construction practices, the demand for rigid polyurethane foam as insulation material is anticipated to be surged.
The building & construction segment, by end-use industry, is projected to be the most significant segment from 2023 to 2028. 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. This energy-saving aspect is crucial in today’s construction landscape, where sustainability and reduced energy consumption are paramount.
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Asia Pacific is projected to be the fastest-growing market for polyurethane foams during the forecast period. The driving factor for growth in this region is construction industry. Rapid urbanization, population growth, and increasing awareness of energy efficiency have led to a surge in construction activities. Polyurethane foam is widely used for insulation in buildings, providing superior thermal efficiency. Governments in countries like China and India have also implemented stringent energy efficiency regulations, further boosting the adoption of polyurethane foam insulation in construction projects.
Polyurethane Foam Market Key Players
Some of the key players in the market include Covestro AG (Germany), BASF SE (Germany), Wanhua Chemical Group Co., Ltd. (China), Dow(US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Saint-Gobain (France), are some of the leading players operating in the polyurethane foam market.
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