Global Polyurethane Foam Market Size, Share, Opportunities, And Trends By Type (Rigid Foam, Flexible Foam), By End-User Industry (Automotive, Construction, Electronics, Footwear, Furniture, Packaging, Others), And By Geography - Forecasts From 2024 To 2029

The global polyurethane foam market is anticipated to grow at a CAGR of 7.24% during the forecast period (2024-2029).

Polyurethane foam is one of the early set products that reforms with moisture present in the atmosphere, one that expands as it cures and is available in semi-rigid spray appliances for fixing, grouting as wells, and insulation. Flexible Polyurethane foams are primarily utilized for door and window assembly, infill applications, sound and heat insulation, weatherproof barriers, and fire insulation. Polyurethane foam responds quickly to moisture in the air and expands upon application. Polyurethane's great adhesive strength allows it to adhere exceedingly effectively to the surfaces on which it is placed.

Polyurethane (PU) foam is formed when isocyanate and polyol react. When gas is injected, it transforms into polyurethane foam, either by an isocyanate reaction with water or through the use of blowing agents. General Plastics has several unique formulas designed to suit a wide range of thermal and physical property requirements. Rigid PU foams are used in composite structures. Polyurethane foams are produced in huge blocks using either a continuous reaction or a batch procedure. The blocks are then sliced into sheets and various forms. They can also be individually molded or cast into unique component forms. Integral-skin foams, also known as self-skinning foams, consist of a high-density skin and a low-density core. Self-skinning foams come in either flexible or stiff foam compositions.

Demand for polyurethane foam is rapidly growing due to less waste, longer product lifespan, and higher recyclability. Industrialization is driving the market forward by expanding the usage of polyurethane foam in packaging, furniture, construction, and footwear.

GLOBAL POLYURETHANE FOAM MARKET DRIVERS:

• The polyurethane foam market is growing in tandem with the automotive sector due to its important role in improving vehicle comfort, safety, and efficiency. Thus, following this, in 2021, German manufacturers produced automobiles over 15. 6 million units as per the GTAI (Germany Trade & Invest). More than 3.1 million passenger cars and 3,51,000 units come from commercial automobiles assembled in Germany’s manufacturing industries in the year 2021 to show that Germany is the largest automotive manufacturing industry in Europe. Likewise, in April 2024, the total output of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 23,58,041. Thus, in fiscal year 2024, the production of passenger vehicles, CVs, three-wheelers, two-wheelers, and quadricycles was 2,84,34,742 units as per the India Brand Equity Fund.

In addition, the use of polyurethane foam in components such as armrests, headrests, or door panels is useful to enhance the car outlook and interior decoration. Aside from comfort and design, polyurethane foam helps in noise and vibration reduction, which adds to a smooth and quiet ride. Thus, the polyurethane foam market is anticipated to grow even further due to enormous advancements in the automotive industry and customers’ increasing demands and concerns as a result of technical innovations impacting both efficiency and comfort.

• Technological advancement and product launches are essential components of development in the polyurethane foam business. For instance, Ashoka Pu Foam has been associated with high-quality polyurethane foam products and mattresses throughout India. The company produces a broad variety of foams, from basic grades to specialized foams such as soft foam, hard foam, high resilience, fire retardant, and visco elastic (memory foam). The firm has been in the business of manufacturing flexible foam products for more than a quarter of a century; therefore, Ashoka PU Foam is a reputable company that offers the best foam products. Also, Forane FBA 1233zd offered by Arkema is a non-flammable/low-pressure HFA liquid blowing agent with zero ODP, zero GWP, and SNAP-listed for most PU applications including domestic appliances, commercial refrigeration, building panels & doors, and spray foam. Forane FBA 1233zd is a non-flammable, liquid-blowing agent.

Furthermore, technical innovation allows firms to optimize manufacturing processes, resulting in cost savings and competitive pricing. The flexibility to tailor polyurethane foam compositions to individual application needs increases its commercial potential in industries such as construction, automotive, packaging, and furniture. Overall, constant technical innovation guarantees that polyurethane foams remain versatile, efficient, and adaptable to changing market demands, resulting in their sustained global usage and expansion.

GLOBAL POLYURETHANE FOAM MARKET SEGMENT ANALYSIS:

• Flexible foam has emerged as one of the most popular segments by product.

Flexible foam has emerged as a dominant product segment in the worldwide PU foam market for several compelling reasons, including its adaptability, which makes it an excellent choice for a variety of applications. Flexible PU foam is used in a variety of sectors, including automotive, furniture, bedding, packaging, and construction. LAST-A-FOAM rigid and flexible polyurethane foam manufactured and marketed by General Plastics is famous for its high strength, dimensional stability, homogeneity, and other characteristic features. Manufactured with excellent quality of stiff and flexible polyurethane foams with densities from 3 to 50 pounds to meet varying applications and meet the highest demands.

Flexible foam features characteristic that enables the material to conform to different forms while offering good cushioning and comfort, which makes it useful in the fabrication of mattresses, seat cushions, and upholstery among others.

• Based on the end-user industry, construction is one of the most rapidly developing segments.

Polyurethane foam is generally used in construction for the properties of insulation due to qualities like high thermal conductivity, light weight and strength, and flexibility. It is used in applications that require insulation for roofs, walls, floors, and even the foundation of either commercial or home buildings. US Census Bureau with the US Department of Housing and Urban New residential construction data gave permit data for April 2024, which stated a total permit of 1,440,000 and completions of 1,623,000.

As highlighted in the statistics obtained from the Canadian Construction Association construction sector of the nation contributes approximately USD 151 billion annually to its economy. This stands at roughly 7.4% of Canada’s gross domestic product. Furthermore, the increased focus on energy efficiency applied to buildings has also strengthened the consumption of polyurethane foam for saving heating and cooling costs. Polyurethane foam is also known for its ability to provide acoustic insulation and moisture.

• Asia Pacific's polyurethane foam market is anticipated to grow significantly.

The Asia Pacific polyurethane foam market is rapidly rising as nations such as China, India, and Southeast Asia see increased urbanization, industrialization, and building activity. Demand for polyurethane foam in car interiors and soundproofing applications is also increasing as the automotive industry grows. For instance, the manufacturing of automobiles within the domestic market is expected to be over 35 million automobiles in 2025 in China. Rising awareness and implementation of energy-efficient building solutions drive up demand for polyurethane foam insulation.

The region's growing emphasis on energy efficiency and sustainability in construction practices promotes the use of polyurethane foams. In the year 2023, India's electronics sector was estimated at US$ 155 billion, with local manufacturers accounting for 65% as stated by Invest India.  Moreover, according to the data of Shanghai Municipal People’s Government, the retail sales of China’s consumer electronics were at US$305 billion in the year 2023 with a 4% growth rate and in the year 2024, the rate rose to 5%. Technological developments in manufacturing improve product quality and cost-effectiveness, making polyurethane foam a popular choice throughout the region's numerous sectors. Overall, these factors help to drive the Asia Pacific polyurethane foam market.

Global Polyurethane Foam Market Key Developments:

• In April 2024, Huntsman's automotive expertise introduced a set of new lightweights, durable polyurethane foam technologies to the company's battery solutions portfolio, specifically designed for the potting and fixing of cells put in electric vehicle (EV) batteries. The innovative SHOKLESS foam systems can provide a versatile solution for protecting the structural integrity of EV batteries in the event of an accident or heat incident.
• In December 2023, BASF introduced Irgastab PUR 71, a cutting-edge antioxidant that enhances regulatory compliance and performance of polyols and polyurethane foams.
• In November 2023, at the 72nd Symposium on Macromolecules, Archem Inc. collaborated with Nagasaki University to unveil a technique that decomposes polyurethane foam using carbonated water and recycles it into fresh polyurethane foam.

Polyurethane Foam Market Scope:

 

Report Metric	Details
Growth Rate	CAGR of 7.24% from 2024 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2024
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Type End-User Industry Geography
Companies Covered	Dow Inc. Covestro Huntsman Corporation BASF General Plastics
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

The global polyurethane foam market is segmented and analyzed as follows:

• By Type
  • Rigid Foam
  • Flexible Foam
• By End-User Industry
  • Automotive
  • Construction
  • Electronics
  • Footwear
  • Furniture
  • Packaging
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Rest of Middle East and Africa
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growing Construction Industry

4.1.2. Advancements in Technology

4.2. Market Restraints

4.2.1. Fluctuating Raw Material Costs

4.2.2. Availability of Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL POLYURETHANE FOAM MARKET BY TYPE

5.1. Introduction

5.2. Rigid Foam

5.3. Flexible Foam

6. GLOBAL POLYURETHANE FOAM MARKET BY END-USER INDUSTRY

6.1. Introduction

6.2. Automotive

6.3. Construction

6.4. Electronics

6.5. Footwear

6.6. Furniture

6.7. Packaging

6.8. Others

7. GLOBAL POLYURETHANE FOAM MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Dow Inc.

9.2. Covestro

9.3. Huntsman Corporation

9.4. BASF

9.5. General Plastics

9.6. Arkema

9.7. Foamcraft, Inc.

9.8. Henkel 

9.9. Sekisui Chemical Co., Ltd.

9.10. INOAC

Dow Inc.

Covestro

Huntsman Corporation

BASF

General Plastics

Arkema

Foamcraft, Inc.

Henkel 

Sekisui Chemical Co., Ltd.

INOAC