Polyurethane Foam Market to hit USD 78.16 billion by 2029 : Market Size, Share, Price Trend Analysis, Competative Analysis, MMR Competition Matrix, Global outlook to 2029
Pune, Dec 06, 2022: Maximize Market Research has published a new report entitled Polyurethane Foam Market 2021-2029. The Polyurethane Foam Market is estimated to be valued at USD 43.5 billion in 2021. The market is projected to reach a market value of USD 78.16 billion by 2029 and is expected to grow at a CAGR of 7.6 % during the forecast period 2022-2029.
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Polyurethane Foam Market Report Scope:
To overcome the challenges associated with sepsis detection, the key players developed cost-effective diagnostic technologies. For example, Inflammatix, a pioneering molecular diagnostics company, developed a health economic model demonstrating that the company’s HostDxTM Sepsis test is cost-effective as compared to standard methods. The high burden of sepsis, the rising incidence of hospital-acquired infections, the growing proportion of pneumonia cases, the increase in the number of sepsis procedures, and an increase in funding for sepsis-related research activities are the major factors driving the growth of the Polyurethane Foam market.
Polyurethane Foam Market Overview:
Polyurethane foam is a single component that cures with moisture in the air, expands while curing, and is semi-rigid in aerosol form for installation, grouting, and insulation. Flexible polyurethane foams are primarily utilised for door and window assembly, infilling applications, sound and heat insulation, weatherproof barriers, and fire insulation. The construction sector has also been transformed by PU spray foam technology, which has replaced traditional building materials with sustainable and easy-to-apply foam sprays. These items provide more insulation than typical construction materials, resulting in lower energy expenses. Furthermore, breakthrough manufacturing procedures have resulted in the development of PU with improved properties for a variety of industrial applications. One such invention is the creation of semi-interpenetrating polymer networks by combining PUacrylate oligomers with thermoplastic polyurethane (TPU) and preserving them with radiation (IPN). These PUs have the potential to be employed as very durable coatings for aeroplanes, aerospace shuttles, and marine vehicles. These factors are estimated to increase the demand for polyurethane foam and further drive the growth of Polyurethane Foam Market during the forecast period.
Polyurethane Foam Market Dynamics:
High Demand for Building Insulation in Light of Sustainability Concerns to Drive Polyurethane Foam Market
The global energy crisis has hastened the development of green buildings and other sustainable construction projects. Sustainability in building development is a broad topic that includes various procedures that must be taken during the major construction stages due to their considerable environmental effect. As a result of increased expenditures in smart energy-efficient business and residential structures, green buildings are progressively entering the construction market. These buildings not only provide financial prospects, but they are also compliant with environmental and federal requirements, giving a real answer to rising consumer sustainability demands. Increased building material effectiveness has resulted in a greater requirement for efficient insulating materials to control heating, ventilation, and air conditioning (HVAC) and offset the amount of energy lost owing to ineffective insulation.
As a result, PU foams are being used as exceptionally efficient insulation materials, resulting in significant energy savings. Polyurethane adhesives used in home frame with mechanical fasteners can give good resilience during extreme weather occurrences. NCFI Polyurethane manufacturers have demonstrated that their closed-cell spray polyurethane foam (ccSPF) is used as an insulator and exterior material by community developers, builders, and homeowners to increase the ability of homes to withstand the effects of high winds, storm surge, and flooding, which can contribute to Polyurethane Foam Market growth during the forecast period.
Polyurethane Foam Market Regional Insights:
In 2021, Asia Pacific emerged as the largest regional Polyurethane Foam Market, accounting for 44.83% of total value. From 2022 through 2029, the region is expected to grow at a 4.5% annual pace. The growth of the automotive sector, together with rising PU use in construction and packaging, is expected to be a significant driving factor for Polyurethane Foam industry growth in this area. Another important factor contributing to development is the recovery of the automobile sector in growing economies such as the United States and Germany. Because of the high need for lightweight materials, polyurethane use in the automobile sector is increasing. North America and Europe are expected to grow at a moderate pace of 3.4% and 3.0%, respectively.
Polyurethane Foam Market Segmentation:
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By End-Use Industry:
Polyurethane Foam Market Key Competitors:
Key Questions answered in the Polyurethane Foam Market Report are:
Key Offerings:
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