Global polyurethane foam market is expected to reach its peak in 2024

According to the research, the report shows that the global polyurethane foam Market by 2024 is expected to reach $91 billion 960 million. Building insulation plate coupled with high demand for bedding and furniture industry is expected to promote the growth of the industry.

Due to the reduction of waste, the improvement of recycling, polyurethane foam plastics consumption is expected to increase significantly, and reduce the energy consumption of the entire life cycle. End industries such as rising demand for packaging and footwear are expected to further boost growth. Governments and federal agencies are increasingly concerned about the adverse effects of using isocyanate. Because of the toxicity and sustainability concerns, PU industry has recently stopped using chlorinated fluorocarbon blowing agent.

2015 global polyurethane foam market demand is 9 million 460 thousand tons, is expected to reach 12 million 740 thousand tons in 2016, 2024 to 2024 compound annual growth rate of 3.3%.

Soft foam is the main product of this plate, accounting for 55% of the global trading volume in 2015. The high demand of the terminal industries such as transportation and upholstered furniture applications, is expected to drive growth.

2014 the construction industry accounted for 1/4 of the total volume, the increase in construction spending coupled with regulatory intervention, is expected to continue to drive this sector growth.

The highest growth in the transport sector will reach 4.1%. Asian countries, such as India, China, Indonesia and Thailand, are expected to increase the production of cars as a key driving factor. Recovery from the financial crisis in the United States and Europe in the automotive industry is also expected to drive demand growth.

Emerging economies China and India are the main consumers of the polyurethane foam, and the supply of raw materials as well as the rapid expansion of the characteristics of the.

Global polyurethane foam market is relatively fragmented, but also has a large Integrated Company and independent manufacturers. The main industry participants including BASF, Huntsman, Trelleborg, Dow Chemical and Rick purcell.

                                                                                                                                                     By Betty