The global Polyurethane Foam Market is expected to reach USD 91.96
billion by 2024, according to a new report by Grand View Research, Inc.
Increasing construction spending coupled with high demand from bedding &
furniture industry for cushioning and insulation is estimated to drive industry
growth.
Polyurethane foams consumption
is anticipated to increase significantly owing to reduced wastage, elevated
recyclability, greater sustainability, and reduce energy consumption throughout
their life cycle. Growing requirement in end-use industries such as packaging
and footwear is anticipated to further compliment growth.
Various governments and federal
agencies are increasingly being concerned with detrimental health effects of
isocyanates utilized in PU production. Recent trends in PU production include
the elimination of chlorinated fluorocarbon blowing agents, due to toxicity &
sustainability concerns.
Request to Sample of
This Report @ http://www.grandviewresearch.com/industry-analysis/polyurethane-foam-market
Further key findings
from the report suggest:
·
Global
polyurethane foams market demand was 9.46 million tons in 2015 and is expected
to reach 12.74 million tons by 2024, growing at a CAGR of 3.3% from 2016 to
2024
·
Flexible foam was
the leading product segment and accounted for over 55% of the global volume in
2015. Strong demand from end-use industries such as transportation and
furniture for cushioning applications is expected to drive the segment growth
over the forecast period.
·
Construction
accounted for over a quarter of overall volume in 2014. Increasing construction
spending coupled with regulatory intervention are expected to remain key
driving factors for this segment.
·
Transportation is
expected to witness the highest growth of 4.1% over the forecast period.
Increasing automobile production in Asian countries such as India, China,
Indonesia, and Thailand is expected to remain a key driving factor for this
segment. Recovery of automotive industry from financial crisis in the U.S and
parts of Europe are also expected to fuel demand growth.
·
Asia Pacific
emerged as the leading consumer with demand share estimated at 44.6%in 2015.
Asia Pacific is also expected to witness the highest growth over the forecast
period. Emerging economies of China and India are major consumers of PU foam
and are characterized by rapidly expanding manufacturing sector along with
adequate raw material availability.
·
Global Polyurethane
Foam Market is fragmented in nature with considerable presence of integrated
companies as well as independent manufacturers. Key industry participants
include BASF S.E., Huntsman Corporation, Trelleborg AG, The Dow Chemical
Company and Recticel S.A.
To Get Sample Copy of Report visit
@ http://www.grandviewresearch.com/industry-analysis/polyurethane-foam-market/request
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For More Information,
Visit Grand
View Research
Contact:
Sherry James
Corporate Sales Specialist, U.S.A.
Grand View Research, Inc.
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
No comments:
Post a Comment