Polyurethane Foam Insulation Materials Market size is forecast to reach $42.11 billion by 2025, after growing at a CAGR of 6.12% during 2020-2025. Polyurethane comprises an open cellular structure called polyurethane foam, which possesses excellent sealing, cushioning, and vibration control features, due to which it widely used in home furnishings such as furniture, bedding, and carpet underlay. Also, due to high durability, low compression property, and extremely lightweight, it is ideal in industries such as residential housing, non-residential, oil & gas, and the automobile will propel the demand of Polyurethane Foam Insulation Materials Industry in the forecast period.
APAC dominates the Polyurethane Foam Insulation Materials Market owing to the increasing use of polyurethane foam on the roof and the wall of buildings in the construction industry to help in maintaining the interior construction temperature.
Increasing the use of Polyurethane Foam in electric vehicles where metal has traditionally been used in designs is now used as a durable, lightweight alternative in exterior cladding, roofs, and hoods.
Due to the lockdowns to tackle the Covid-19 outbreak, the automotive industry expects a loss of about 750,000 units in production and $2 billion in revenue in 2020-2021.
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Geography- Segment Analysis
Asia Pacific holds the largest share with 42.54% in Polyurethane Foam Insulation Materials Market in 2019 due to the increase in the construction industry. In construction industries such as residential and non-residential buildings, Polyurethane Foam Insulation Materials is widely used. Strong and durable spray foam improves the strength of a building and it essentially increases a building’s resistance to wind uplift, helping to protect a building against severe weather conditions. The rising disposable income and urbanization of the customer in Asia have seen a major increase in the construction industries.
Drivers –Polyurethane Foam Insulation Materials Market
Increasing use in the automotive industry
Increasing use of polyurethane foam in Medicals
Major players in the Polyurethane Foam Insulation Materials Marketare Bayer Ag, Compagnie De Saint-Gobain S A, Ekisui Chemical Co Ltd, Huntsman Corporation, Nitto Denko Corporation, The Dow Chemical Company, Tosoh Corporation, Trelleborg Ab, Wanhua Chemical Group Co Ltd among others.
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