Global PU foams market to reach $61.9 billion by 2018

Polyurethane foams are used in various consumer products that provide durability, comfort, support, and safety. They are lightweight and less costly in comparison to other substitutes such as polyolefin foams. Their growing demand reflects their versatile nature against other competitive materials. Flexible polyurethane foam is one of the most versatile materials as it is used for cushioning applications in furniture, bedding, carpet cushion, automotive, and packaging applications. Rigid polyurethane foams are used for insulation application in building & construction, and electronics industries.

The global market is driven by the diverse range of applications for polyurethane foams in multiple industries, according to the report by Markets and Markets.  An increasing R&D effort has made it highly resourceful and generated huge demand especially in the furniture sector, which finds its usefulness in a myriad of applications, such as bedding, mattresses, carpet underlays, and cushioning. Environmental regulations from different industry sectors, such as plastic, automotive, building & construction, furniture & bedding, electronics, packaging, and other sectors facilitates the growth of the market. The growing demand from the automotive and electronic appliances markets is notable in key countries at global levels.

The APAC region dominated the global market, with 39.0% of the total revenue in 2012. China and the U.S. together shared 35.9% of the total polyurethane foam consumption in 2012. The Brazilian polyurethane foam, one of the fastest amongst major consuming countries, is expected to grow at 10.6% from 2013 to 2018.

The key market players concentrate on launching new products that was observed to be the predominant strategic initiative. Following this dominant strategy helped expand their geographical reach for success and increased production capacities. The market witnessed expansions, agreements & collaborations, and mergers & acquisitions that target developing economies. The market focuses on high research activities to improve the adaptability of the foams for use in a variety of applications in end-user industries. Environmental regulations, unsuitability in a specific environment and high prices are some of the major challenges faced by the market.