Microcellular polyurethane foam market accounted for revenue of $5.2 billion in 2018 and is anticipated to generate $8.1 billion by 2026. The market is projected to experience growth at a CAGR of 5.6% from 2019 to 2026.
Microcellular polyurethane foam is flexible, open cell, and closed cell urethane foam that is very economical possess excellent resistance to compression set. The foam has good cushioning, sealing, and vibration control due to very low compression properties. Also, the open cell structure allows gas and vapors to pass through the material. It can also be formulated to form an integral skin, as it is mechanically mixed, and hence the cell size is more uniform. Automotive application accounts for the largest share of the global microcellular polyurethane foam market due to its use in cushioning purposes, as well as in bodies of the car, where their insulation properties provide protection against heat and noise of the engine. Microcellular polyurethane foam are used in electrical potting compounds, seals & gaskets, automotive bushings, durable elastomeric wheels & tires, hard plastic parts, and carpet underlay.
The factors that drive the microcellular polyurethane foam market growth are application areas such as automotive, aerospace, & construction industries. The use of microcellular foams in several parts of auto vehicles, aircrafts, medical, and in insulation purposes in housing constructions have led to increase in demand for such foams. Moreover, increase in consumer spending in emerging economies also drive the microcellular polyurethane foam market. However, volatile raw material prices hamper the microcellular polyurethane foam market growth as fluctuations in the prices influences the production of process. Moreover, environmental impact related to raw materials used are strictly regulated by many governing bodies with goal to reduce carbon footprint acting as a factor restraining the growth of the global microcellular polyurethane foam market.
The microcellular polyurethane foam market is segmented based on type, application, and region. Type segment is further bifurcated into high density foam and low density foam. Application segment is divided into automotive, building & construction, electronics, medical, aerospace and others. Based on region, Microcellular Polyurethane Foam market analysis is done across North America, Europe, Asia-Pacific and LAMEA (Latin America, middle-East and Africa).
The key players in microcellular polyurethane foam market industry are BASF SE, Dow Inc., Saint-Gobain, Huntsman Corporation, Evonik Industries, INOAC Corporation, Rogers Corporation, Rubberlite Inc., Mearthane Products Corporation, and Kuraray Co., Ltd. The key players adopted several strategies such as new product launch, agreement, acquisition and expansion to sustain the intense competition in the market.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global microcellular polyurethane foam market from 2018 to 2026 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the microcellular polyurethane foam market growth, in terms of value.
- Profiles of leading players operating in the microcellular polyurethane foam market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS
- High Density Foam
- Low Density Foam
- Building & Construction
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Saudi Arabia
- ·South Africa
- ·Rest of LAMEA
- Key Players
- ·BASF SE
- ·Dow Inc.
- ·Huntsman Corporation
- ·Evonik Industries
- ·INOAC Corporation
- ·Rogers Corporation
- ·Rubberlite Inc.
- ·Mearthane Products Corporation
- ·Kuraray Co., Ltd.