According to the research report titled ‘Global Polyurethane Foam Market Size study, by Type (Rigid Foam, Flexible Foam and Spray Foam), by End-Use Industry (Bedding & Furniture, Building & Construction, Automotive, Electronics, Footwear, Packaging and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global polyurethane foam market generated revenues worth USD 35.2 billion in the year 2019 and is expected to grow with a CAGR of 7.5% between 2020 and 2027.
 

The growth of global polyurethane foam market is primarily driven by increased product application in building insulations in order to conserve energy. Increasing awareness pertaining to the advantages of polyurethane foam such as unique physical properties and high versatility is also stimulating the industry outlook.
 

For those unfamiliar, polyurethane is a type of plastic which is available in either rigid or flexible form. The product offers exceptional dielectric as well as adhesive properties along with high resistance to temperature, water, and abrasion. Rising adoption of polyurethane foam in applications such as adhesives, tires, gaskets, and insulation panels among others is further aiding the market expansion.
 

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Citing an instance, Future Foam purchased polyurethane foam production units in Washington, Indiana, and Mississippi in March 2020 in order to expand its product portfolio. Thus, innovative product launches and other strategic collaborations among leading companies are augmenting global polyurethane foam industry remuneration. However, strict regulatory scenario pertaining to the production of polyurethane foam may inhibit the expansion of the overall market in the ensuing years.
 

As per type, the market is segmented into spray foam, flexible foam, and rigid foam. The end-user scope of worldwide polyurethane foam market consists of packaging, footwear, electronics, automotive, building & construction, bedding & furniture, and others.
 

From the regional frame of reference, Asia-Pacific polyurethane foam industry is predicted to witness substantial growth during the study duration. Increasing number of industry partakers and extensive utilization of polyurethane foam across various sectors are favoring the market scenario in Asia-Pacific.
 

The major companies operating in global polyurethane foam marketplace are Compagnie de Saint-Gobain S.A., Sekisui Chemical Co. Ltd., Bayer AG, BASF SE, Foamcraft Inc., Eurofoam GmbH, Woodbridge Group, FXI Holdings Inc., Future Foam Inc., and FoamPartner Group among others.