According to the new market research report “Polyurethane Foam Market by Type (Flexible, Rigid, Spray Foam), End User (Bedding & Furniture, Building & Construction, Electronics, Automotive, Footwear, Packaging), and Region (Asia Pacific, Europe, North America) – Global Forecast to 2027″, published by MarketsandMarkets™, the polyurethane foam market is estimated to be USD 54.19 billion in 2018 and is projected to reach USD 108.68 billion by 2027, at a CAGR of 8.0% from 2018 to 2027
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193 – Tables
46 – Figures
233 – Pages
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Asia Pacific is the largest market for polyurethane foam. The rising demand for flexible polyurethane foam, coupled with the increasing applicability of rigid polyurethane foam in the automotive and building & construction industries, is projected to drive the growth of the polyurethane foam market in the Asia Pacific region. Rapid industrialization and infrastructural development are additional factors propelling the demand for polyurethane foam in the Asia Pacific region.
Based on type, the polyurethane foam market has been segmented into flexible foam, rigid foam, and spray foam. The spray foam segment of the polyurethane foam market is projected to grow at the highest CAGR during the forecast period. Spray foams are low-to-medium density foams that are primarily used for insulation, flotation, and roofing applications. The growth of the spray foam segment can be attributed to the increasing demand for spray foams from the building & construction end-use industry. Flexible foams are used mainly as cushioning materials in the automotive, furniture, bedding, and packaging industries. Rigid foams are primarily used as insulation materials in construction and refrigeration applications.
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Based on end user, the polyurethane foam market has been segmented into building & construction, bedding & furniture, electronics, automotive, packaging, footwear, and others. The automotive end user segment is projected to grow at the highest CAGR during the forecast period. The building & construction segment is expected to account for a major share of the polyurethane foam market, due to the increase in demand for energy conversion in buildings.
The polyurethane foam market in the Middle East is projected to grow at the highest CAGR during the forecast period. The growth of the polyurethane foam market in the Middle East can be attributed to the flourishing building & construction and bedding & furniture industries, which are major consumers of polyurethane foams. North America is projected to be the second-largest market for polyurethane foam, in terms of value. The significant demand for polyurethane foam for specific applications, such as automotive seating, is projected to drive the growth of the polyurethane foam market in this region.
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