Kenneth Research, in its repository of market research reports, has recently added a report on Polyurethane Foam Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Polyurethane Foam Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Polyurethane Foam Market products.
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A report on Polyurethane Foam Market market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021.
On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Polyurethane Foam Market Analysis
According to Verified Market Research, The Global Polyurethane Foam Market was valued at USD 54.11 Billion in 2018 and is projected to reach USD 98.09 Billion by 2026, growing at a CAGR of 7.68% from 2019 to 2026.
What is Polyurethane Foam?
Polyurethane foam is a term that includes any foam that is synthesized using polyol and diisocyanate. These include but are not limited to: memory foam, high resilience foam, and high density foam. Polyurethane Foam can most often be found in mattresses, upholstered furniture and car seats as well as other various applications such as virtually endless, ranging sponges in the kitchen, medical dressings to large filters and soundproofing systems. Several memory foam mattresses are an grouping of polyurethane foams that are layered from dense on the bottom to less dense on the surface layers.
Global Polyurethane Foam Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors such as the high demand for polyurethane foam in building for energy conservation as well as the production of bio-based polyols are facilitating the growth of the market. Other factors that are aiding the market include the growth of the application of the Polyurethane Foam in various end use industries. Factors such as the fluctuating prices of the raw material prices as well as stringent government regulations are restraining the growth of the market.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Polyurethane Foam Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Polyurethane Foam Market Competitive Landscape
The “Global Polyurethane Foam Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such BASF, Sekisui Chemical Co. Ltd., Huntsman Corporation, Chemtura Corporation, Compagnie De Saint-Gobain S.A., Eurofoam Group, Covestro AG, Dowdupont, Nitto Denko Corporation, Armacell. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Polyurethane Foam Market, By Density Composition
• Low-Density Polyurethane Foams
• Medium-Density Polyurethane Foams
• High-Density Polyurethane Foams
Global Polyurethane Foam Market, By Type
• Flexible Foams
• Rigid Foams
• Spray Foams
Global Polyurethane Foam Market, By End User
• Bedding & Furniture
• Building & Construction
• Electronics
• Automotive
• Packaging
• Others
Global Polyurethane Foam Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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