Report Overview

Global Polyurethane Foam Market- Industry Trends & Forecast Report 2028

The global polyurethane foam market was worth USD 42.9 billion in 2021 and is further projected to reach USD 70.1 billion by the year 2028, growing at a CAGR of 7.40% during the forecast period. Growing end-use sectors such as bedding & furniture, electronics, automotive, and building & construction in developing nations like China, India, Vietnam, etc., are among the primary drivers of the polyurethane foams market. Furthermore, properties such as water and oil resistance, electrical properties, performance in harsh environments also play a crucial factor in propelling the market growth.

Polyurethane Foam - Overview

Polyurethane foam is a synthetic polymer that provides abrasion, temperature, moisture, impact, and corrosion resistance to materials. It is typically available in spray, flexible, and stiff forms and is mostly used as bedding and furniture filling. It is hypoallergenic, non-toxic, does not deteriorate over time, and can rapidly expand and attach with surfaces with high adhesion after application when exposed to moisture. As a result, it has a wide range of uses in different industries such as automotive, packaging, construction, and electronics.

Polyurethane Foam Market Forecast and Trends

Growth Drivers

Expanding Application in Various Industries

Polyurethane foam is used in a wide range of applications, which fuels demand and propels the overall market growth. Bedding, furniture, vehicle interiors, carpet underlay, and packaging, all employ flexible polyurethane foam as a cushioning material. The flexible foam may be made in a wide range of forms and stiffness levels. It's lightweight, long-lasting, supportive, and comfy. This kind of foam offers various benefits such as superior load-bearing, oil resistance, radiation resistance, etc., which is influencing its market growth.

Extensive Research and Development Activities

The research institutes and industry participants are increasingly investing in research and development activities for polyurethane foam. The R&D activities will help further expand the application of polyurethane foam, fueling its market demand. For instance, Foamtec Medical, a US-based medical-grade polyurethane foam manufacturer, has recently announced the development of a new foam formulation designed to capture the maximum volume of sample and maximum release.

Restraints

High Cost of Raw Materials Of Polyurethane Foam

The high costs of raw materials such as methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), and polyols, that are used to manufacture polyurethane foam acts as a major restraining factor for the growth of the market. Its high cost is associated with high demand for the product. According to a report published by the Multidisciplinary Digital Publishing Institute (MDPI), the worldwide consumption of polyurethane foam was around USD 60.5 billion in 2017. This creates a huge demand and supply gap in the market and acts as a huge restraining factor for the market growth.

Impact of COVID-19 on Polyurethane Foam Market

The COVID-19 pandemic outbreak negatively impacted the growth of the polyurethane foam market. The operations of major end-user industries of polyurethane foam such as construction and automotive were completely obstructed during the lockdown period, which resulted in a significant decline in the demand for polyurethane foam. Furthermore, the supply of raw materials was also hindered due to restrictions on import and export activities. Several countries postponed their demand for polyurethane foam during the peak of the COVID-19 spread, due to which the market had to register significant losses.

Polyurethane Foam Market - By Raw Material

Based on raw material, the global polyurethane foam market is segmented into methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), and polyols. The methylene diphenyl diisocyanate (MDI) segment accounts for the largest market share. MDI is an aromatic diisocyanate made up of methylene diphenyl diisocyanate and methylene diphenyl diisocyanate. 2,2′-MDI, 2,4′-MDI, and 4,4′-MDI are the three most prevalent isomers, which differ in the locations of the isocyanate groups around the rings. The 4,4′ isomer, commonly known as 4,4′-diphenylmethane diisocyanate, is the most extensively used isomer.

Polyurethane Foam Market - By Cell Structure

Based on cell structure, the global polyurethane foam market is segmented into microcellular polyurethane foams and nanocellular polyurethane foams. The microcellular polyurethane foams account for the largest market share owing to their wide range of applications in various sectors such as automotive, aerospace, construction, etc. This type of cell structure offers high resilient performance along with impressive cushioning and dampening performance and is easily available in various thickness and density combinations, which drives its market growth.

Polyurethane Foam Market - By Density Composition

Based on density composition, the global polyurethane foam market is segmented into low-density polyurethane foams, medium-density polyurethane foams, and high-density polyurethane foams. The high-density polyurethane foam segment accounts for the largest market share. This kind of density composition is an industrial-grade foam that comes in all firmness. It is highly capable of withstanding high pressure, unlike other density compositions, due to which they are widely used in various industries including building and construction.

Polyurethane Foam Market - By Type

Based on type, the global polyurethane foam market is segmented into flexible foam, rigid foam, and spray foams. The spray foams segment holds the largest share in the polyurethane foam market. Spray foams are commonly used for thermal and acoustic insulation, as well as flotation and roofing. These foams are utilized for both open-cell and closed-cell foam insulations in the building and construction sector and are primarily used for heat and sound insulation, which is fueling its market demand.

Polyurethane Foam Market - By End-User

Based on end-user, the global polyurethane foam market is segmented into bedding & furniture, building & construction, electronics, automotive, footwear, packaging, and others. The building and construction industry accounts for the largest market share owing to the wide range of polyurethane foam in this sector. This foam is utilized as a thermal insulator, in flooring and waterproofing, as well as for air sealing. Spray and stiff polyurethane foams are also employed in construction as structural and insulating foams.

Polyurethane Foam Market - Regional Insights

Geographically, the polyurethane foam market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the polyurethane foam market owing to increasing construction activities in emerging economies such as China, India, Vietnam, etc. Furthermore, increasing penetration of polyurethane foam manufacturers in these regions due to low-cost production and high demand is also anticipated to present lucrative growth opportunities to the market in the forecast period.

Competitive Landscape

The leading market players of the polyurethane foam market are Inoac Corporation, Ufp Technologies, Inc., Saint-Gobain, Henkel Ag & Co. Kgaa, Basf Se, Wanhua Chemical Group Co., Ltd., Eurofoam Group, Polybit, Huntsman International Llc, Nitto Denko Corporation, Rogers Corporation, Foampartner, Covestro Ag, Sekisui Chemical Co., Ltd., Dow Inc., and other prominent players.

The market is consolidated with the presence of several global as well as regional industry players. The companies are significantly investing in expanding their production capacities to meet the surging global demand. They are establishing new production plants in unexplored regions to exploit market opportunities. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

• In March 2022, Perma-Pipe International Holdings, Inc., a US-based engineered pipe services company, announced further contracts of USD 15 million in Saudi Arabia and Egypt to utilize Perma-Pipe’s XTRU-THERM insulation system.

• In October 2022, S7 Technics, Russian aircraft maintenance, repair, and overhaul service provider, announced the launch of the production of polyurethane foam cushions for aircraft seats.

Scope of the Report

By Raw Material

• Methylene Diphenyl Diisocyanate (MDI)

• Toluene Diisocyanate (TDI)

• Polyols

By Cell Structure

• Microcellular Polyurethane Foams

• Nanocellular Polyurethane Foams

By Density Composition

• Low-Density Polyurethane Foams

• Medium-Density Polyurethane Foams

• High-Density Polyurethane Foams

By Type

• Flexible Foam

• Rigid Foam

• Spray Foams

By End-Use Industry

• Bedding & Furniture

• Building & Construction

• Electronics

• Automotive

• Footwear

• Packaging

• Others

By Region

• North America

• Europe

• Asia-Pacific (APAC)

• Latin America (LATAM)

• Middle-East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Type Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Polyurethane Foam Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Polyurethane Foam Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Kilo Tons)
   2. Market Share & Forecast
      1. By Type
         1. Rigid foam
         2. Flexible Foam
         3. Spray Foam
      2. By Application
         1. Bedding & furniture
         2. Transportation
         3. Packaging
         4. Construction
         5. Electronics
         6. Others
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle-East and Africa
6. North America Polyurethane Foam Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Kilo Tons)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. United States
         2. Canada
7. Europe Polyurethane Foam Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Kilo Tons)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. Asia Pacific Polyurethane Foam Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Kilo Tons)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Polyurethane Foam Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. By Volume (Kilo Tons)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3.  By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. Middle East & Africa Polyurethane Foam Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
       2. By Volume (Kilo Tons)
    2. Market Share & Forecast
       1. By Type
       2. By Application
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of COVID-19 on Global Polyurethane Foam Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Huntsman Corporation
    2. The Dow Chemical Company
    3. BASF SE
    4. Sekisui Chemical Co. Ltd.
    5. Trelleborg AG
    6. Future Foam, Inc.
    7. Elliott Co. of Indianapolis, Inc.
    8. Recticel S.A.
    9. Foamcraft, Inc.
    10. UFP Technologies, Inc.
    11. Rogers Corporation
    12. Chemtura Corporation
    13. Saint-Gobain S.A.
    14. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1        Global Polyurethane Foam Segmentation

Figure 2        Global Polyurethane Foam Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 6        Global Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 7        Global Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 8        Global Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 9        Global Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 10       Global Polyurethane Foam Market Share, By Region, By Value, 2018-2028

Figure 11       Global Polyurethane Foam Market Share, By Region, By Volume (Kilo Tons), 2018-2028

Figure 12       North America Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 13       North America Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 14       North America Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 15       North America Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 16       North America Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 17       North America Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 18       North America Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Figure 19       North America Polyurethane Foam Market Share, By Country, By Volume (Million Sqm, 2018-2028

Figure 20       Europe Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 21       Europe Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 22       Europe Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 23       Europe Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 24       Europe Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 25       Europe Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 26       Europe Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Figure 27       Europe Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

Figure 28       Asia-Pacific Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 29       Asia-Pacific Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 30       Asia-Pacific Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 31       Asia-Pacific Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 32       Asia-Pacific Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 33       Asia-Pacific Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 34       Asia-Pacific Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Figure 35       Asia-Pacific Polyurethane Foam Market Share, By Country, Volume (Kilo Tons),2018-2028

Figure 36       Latin America Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 37       Latin America Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 38       Latin America Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 39       Latin America Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 40       Latin America Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 41       Latin America Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 42       Latin America Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Figure 43       Latin America Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

Figure 44       Middle East & Africa Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Figure 45       Middle East & Africa Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Figure 46       Middle East & Africa Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Figure 47       Middle East & Africa Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Figure 48       Middle East & Africa Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Figure 49       Middle East & Africa Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Figure 50       The Middle East & Africa Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Figure 51       The Middle East & Africa Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

List of Tables

Table 1         Global Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 2         Global Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 3         Global Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 4         Global Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 5         Global Polyurethane Foam Market Share, By Region, By Value, 2018-2028

Table 6         Global Polyurethane Foam Market Share, By Region, By Volume (Kilo Tons), 2018-2028

Table 7         North America Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Table 8         North America Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Table 9         North America Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 10        North America Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 11        North America Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 12        North America Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 13        North America Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Table 14        North America Polyurethane Foam Market Share, By Country, By Volume (Million Sqm, 2018-2028

Table 15        Europe Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Table 16        Europe Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Table 17        Europe Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 18        Europe Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 19        Europe Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 20        Europe Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 21        Europe Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Table 22        Europe Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

Table 23        Asia-Pacific Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Table 24        Asia-Pacific Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Table 25        Asia-Pacific Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 26        Asia-Pacific Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 27        Asia-Pacific Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 28        Asia-Pacific Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 29        Asia-Pacific Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Table 30        Asia-Pacific Polyurethane Foam Market Share, By Country, Volume (Kilo Tons),2018-2028

Table 31        Latin America Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Table 32        Latin America Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Table 33        Latin America Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 34        Latin America Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 35        Latin America Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 36        Latin America Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 37        Latin America Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Table 38        Latin America Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

Table 39        Middle East & Africa Polyurethane Foam Market Size, By Value (USD Million), 2018-2028

Table 40        Middle East & Africa Polyurethane Foam Market Size, By Volume (Kilo Tons), 2018-2028

Table 41        Middle East & Africa Polyurethane Foam Market Share, By Type, By Value, 2018-2028

Table 42        Middle East & Africa Polyurethane Foam Market Share, By Type, By Volume (Kilo Tons), 2018-2028

Table 43        Middle East & Africa Polyurethane Foam Market Share, By Application, By Value, 2018-2028

Table 44        Middle East & Africa Polyurethane Foam Market Share, By Application, By Volume (Kilo Tons), 2018-2028

Table 45        Middle East & Africa Polyurethane Foam Market Share, By Country, By Value, 2018-2028

Table 46        Middle East & Africa Polyurethane Foam Market Share, By Country, By Volume (Kilo Tons), 2018-2028

Table 47        Huntsman Corporation Company Overview

Table 48        Huntsman Corporation Company Financial Overview

Table 49        The Dow Chemical Company Company Overview

Table 50        The Dow Chemical Company Financial Overview

Table 51        BASF SE Company Overview

Table 52        BASF SE Financial Overview

Table 53        Sekisui Chemical Co. Ltd. Company Overview

Table 54        LG Electronics Inc. Financial Overview

Table 55        Trelleborg AG Ltd. Company Overview

Table 56        Trelleborg AG Ltd. Financial Overview

Table 57        Future Foam, Inc. Company Overview

Table 58        Future Foam, Inc. Financial Overview

Table 59        Elliott Co. of Indianapolis, Inc. Company Overview

Table 60        Elliott Co. of Indianapolis, Inc. Financial Overview

Table 61        Recticel S.A. Company Overview

Table 62        Recticel S.A. Financial Overview

Table 63        Foamcraft, Inc Company Overview

Table 64        Foamcraft, Inc KG Financial Overview

Table 65        UFP Technologies, Inc Company Overview

Table 66        UFP Technologies, Inc Financial Overview

Table 67        Rogers Corporation Company Overview

Table 68        Rogers Corporation Financial Overview

Table 69        Chemtura Corporation Company Overview

Table 70        Chemtura Corporation Financial Overview

Table 71        Saint-Gobain S.A. Company Overview

Table 72        Saint-Gobain S.A. Financial Overview