Market Size of Polyurethane Foam Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Polyurethane Foam Market Analysis
The Global Polyurethane Foam Market is projected to register a CAGR of more than 5% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the various end-user industries automotive, transportation, building & construction were significantly affected. However, the situation became stable in 2021 and the market is projected to grow steadily.
- Over the short term, rising demand in the construction industry in the Asia-Pacific region, and the growing furnishing industry are some of the driving factors which are stimulating the market demand.
- Strict environmental regulations for the manufacturing of PU foam are hindering the market's growth.
- Increasing the production of bio-based polyols products is likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.
