Technavio Announces the Publication of its Research Report Global Polyurethane Foam Market 2016-2020
Technavio recognizes the following companies as the key players in the global polyurethane foam market: Covestro, BASF, Dow Chemical, DuPont, and Huntsman.
Other prominent vendors in the market are: Mitsui Chemicals, FXI Innovations, Recticel, FoamPartner, Europur, and Woodbridge Foam.
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Commenting on the report, an analyst from Technavios team said: One of latest trends in the market is increasing number of manufacturers in APAC. Lower supply constraints in Europe, following the establishment of new polyurethane production facilities in China, will likely restrict the elevated costs of production, thereby reducing the cost of the product. Established manufacturers in Asia provide high capacity utilization to cater to the growing demand from South America and Europe. APAC accounted for 40% of the global manufacturing capacities in 2015. This region is the largest consumer of polyurethane, accounting for more almost half of the global polyurethane consumption. However, the consumption of polyurethane in the other regions is also likely to increase during 2016-2020.
According to the report, one of the primary drivers in the market is growth in furniture and bedding industry. The global population is rising due to reduced mortality rates and increased lifespan owing to better medical facilities, and an increase in birth rates. Although there are many factors that can increase death rates over a short period, there are factors that increase birth rates over longer periods. Diseases that once claimed thousands of lives are now curable. The birth rate has been enhanced due to fertility treatments, and increasing income is also leading to bigger families. Population growth across regions is increasing the demand for basic household needs, including bedding, cushions, pillows, and upholstered furniture, thereby driving the market growth.
Further, the report states that one major challenge in the market is hazards associated with polyurethane. Most countries (including the US, Japan, and EU nations) have already banned or limit the use of polymers for various purposes and have imposed stringent regulations for their use for many purposes. Most other countries are expected to impose similar regulations, thereby hindering the market growth over the forecast period. Further, carbon dioxide emitted during the production of flexible foam polyurethane poses a threat to the environment. Measures are implemented to reduce emissions of carbon dioxide and regulate the production process.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Polyurethane Foam
Polyurethane is a polymer composed of organic units joined by urethane links. Most polyurethanes are thermosetting polymers that do not melt when heated. Polyurethane polymers are commonly formed by reacting a di- or polyisocyanate with a polyol. The isocyanates and polyols used to make polyurethanes contain an average of two or more functional groups per molecule.
Technavios analysts forecast the global polyurethane foam market to grow at a CAGR of 7.84% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyurethane foam market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of polyurethane foams for end-users such as furniture and bedding, building and construction, transportation, electronics, packaging, and others.
The market is divided into the following segments based on geography:
Central and South America
Technavio’s report, Global Polyurethane Foam Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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