Global Polyurethane Foam Market: Key Highlights
Global Polyurethane Foam Market: Key Market Dynamics
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Global Polyurethane Foam Market: Regional Overview
North America is accounted sustainable growth of polyurethane foam market during the forecasted period. This is attributed to higher demand for polyurethane foam form several end use industries including furniture, construction, automotive, and packaging. Moreover, the growth in region is driven by growing residential construction, growing infrastructure activities in order to improve public transportation, and expanding manufacturing activities. According to the US Department of Commerce, in June 2020, the new 1,225,000 residential buildings were constructed in the US
Asia-Pacific is accounted to hold largest share in growth of polyurethane foam market. This is attributed to rising demand for flexible polyurethane foam coupled with rising application in building & construction, and automotive industry. China, India, Indonesia, and Malaysia are emerging markets in construction industry. According to India Brand Equity Foundation, the Foreign Direct Investment (FDI) in construction development sector was USD 25.6 billion till March 2020 in India.
Global Polyurethane Foam Market: Key Players Overview
BASF SE is a German German-based company engaged in manufacturing and distributing speciality chemical. The company operates broadly through chemical, materials, industrial solution, surface technologies, nutrition & care, and agriculture solution business segment. Seed treatment fungicides products are offered under agriculture solution business segment. In January 2018, the company developed flexible polyurethane integral foam which will be used to produce lightweight engine coverings with a one shot process.
Armacell is a German-based company and is one of the leading providers of engineered foam. The company is inventor of flexible foam for equipment insulation. Armacell has 24 production plants in 16 countries through which the company operates through two main businesses namely engineered foam, and advanced insulation. The company is registered with 300 patents. In August 2018, Armacell acquired Guarto SRL, an Italian manufacturer of acoustic insulation solutions. This acquisition will help Armacell to extend its footprints in Italy.
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