Global polyurethane foam market forecast with a CAGR of 7.3 percent

Atlanta, GA – The global polyurethane foam market size was valued at USD 63.7 billion in 2020 and is expected to grow at a CAGR of 7.3% during the forecast period of 2021-2028 according to Polaris Market Research. Polyurethane foam is used in varied applications such as construction, packaging, automotive, furniture, and footwear, among others. The use of polyurethane foam has increased in residential and commercial buildings owing to its high energy efficiency, reduced energy costs, and versatile insulations.

Polyurethane foam is used as an insulation material in walls, roofs, doors, and windows for uniform temperature maintenance and reduced noise levels. It also assists in controlling air infiltration, heat flow, and water resistance. It enhances the rigidity, durability, and strength of the building while reducing carbon emissions.

Polyurethane (PU) foam market experiences high demand from the sport and leisure industry owing to its affordable prices, durability, versatility, and lightweight. Motorcycle and cycling helmets are lined with polyurethane product to provide cushioning and absorb excess shock impact. It is used in personal protection material for sports headgear and other body parts.

The product is also widely utilized as a cushioning material for mats used in martial arts, gymnastic, and wrestling among others. Low to medium density high load-bearing product find market application in rugby post protectors and tackle shields to offer mechanical damping of unexpected impacts.

The market demand for the product is significantly high in the automotive industry. The product is widely used in car seats, doors, bumpers, interiors, windows, and car body among others. The use of the product in automobiles reduces overall weight, thereby enhancing fuel economy, insulation, sound absorption, and corrosion resistance. The rise in demand for passenger vehicles, coupled with the growing electrification of vehicles and an increasing need to improve vehicle performance has fueled the growth of the market across the globe.

The leading players in the polyurethane foam market include DowDuPont, Eurofoam Group, Saint-Gobain S.A., Woodbridge Group, Evonik, Bayer AG, LyondellBasell Industries, BASF SE, Arkema S.A., Rogers Corporation, Sekisui Chemical Co. Ltd., Foamcraft, Inc., Ineos Group AG, UFP Technologies, Inc., Chemtura Corporation, Covestro AG, Nitto Denko Corporation, and Nippon Polyurethane Industry Co., Ltd.