Growing polyurethane foam demand in various industrial applications is expected to drive polyurethane foam market over next seven years. Polyurethane foam are gaining popularity owing to unique physical properties and versatility and increasing applications in end-use industries. This factor is also anticipated to boost polyurethane foam market over the forecast period. Numerous applications in several industries such as building and construction, electronics, packaging, apparel, marine and automotive, are expected to propel market growth over the forecast period. High substitution cost is also anticipated to drive polyurethane market growth. Increasing polyurethane foam applications in consumer goods industry due to its qualities such as durability, comfort and safety is anticipated to fuel market growth. Increasing applications in other segments are also expected to drive polyurethane foam market over the forecast period. Increasing R&D activities to explore new application segments are expected to fuel the market over the forecast period.
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However, increasing environmental concerns owing to non-biodegradable nature of polyurethane foam may hamper market growth. Detrimental human health effects associated with long-term exposure to polyurethane foam are also anticipated to hinder market growth over next seven years. Introduction of innovative new foam are expected to pose a challenge to polyurethane foam market over the forecast period. Increasing substitution of polyurethane foam by bio based products is also anticipated to hamper market growth over coming seven years.
Asia Pacific region is expected to be the largest market for polyurethane market. It has witnessed highest growth in the past and is anticipated to display increasing polyurethane foam demand over the forecast period. Expanding automotive and packaging industries in the emerging nations such as India and China are expected to boost polyurethane foam applications in end-use industries. This is expected to augment polyurethane foam market growth in Asia Pacific region. European region experiences harsh cold weather conditions and polyurethane foam are applied in various insulation applications, leading to augmented market growth in countries such as Germany, France, Spain and Italy among others.
Key players operating in polyurethane foam market are Woodbridge Foam Partner, Chemtura Corporation, Eurofoam, Woodbridge Foam Partner, Bayar Material Science AG, Huntsman Corporation, British Vita Foam plc. Rogers Corporation and Recticel S.A.
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