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(Health-NewsWire.Net, October 11, 2021 )
Market Overview
Rigid polyurethane foam is a generally used engineering material. Its excellent thermal insulation performance, low-density, and great mechanical properties can serve as a thermal insulation material, potting material, load-bearing structure material, etc.
The rigid polyurethane has been utilized in many aspects such as constructions, consumer goods, healthcare, automotive, sports & recreation, furniture & bedding, and others.
At present, resource efficiency and thermal insulation are some of the most important issues. Growing environmental awareness and steadily increasing energy prices have increased the demand for materials with strong insulation properties. Good insulation can assist in reducing heating costs in new buildings and improve energy efficiencies in older buildings.
Insulation serves to decrease unnecessary energy losses and maintain power costs for household and commercial refrigerators and freezers. Insulation materials found in polyurethane foam considerably decrease heat loss through building roofs and walls and make a vital contribution to the excellent properties of rigid polyurethane foam employed in the insulation of refrigerators.
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Market Dynamics
The rising demand for eco-friendly materials drives the global rigid polyurethanes foam market growth.
Rising demand for eco-friendly materials
Conventionally, polyurethane foams are produced from petroleum-derived materials, but they are difficult to recycle in general, bringing many environmental concerns. In recent years, growing petroleum prices and sustainability issues have prompted manufacturers to focus on biomass-derived materials.
Many kinds of renewable sources have been introduced into polyurethane foams to minimize the use of fossil resources. For example, bio-based polyols were used to synthesize polyurethane foams to lessen the use of petroleum-derived polyols. The growing demand for eco-friendly materials for PU foams is expected to boost the rigid polyurethane foam market.
Various recent developments have been witnessed in recent years regarding the manufacturing of PU foams. For example, in 2020, Scientists at UC San Diego and Algenesis have collaborated to generate a sustainable solution to the developing problem of plastic pollution. The recent study highlighted the team's success in producing a commercially deployable, biodegradable polyurethane product.
Moreover, in 2019, Huntsman has highlighted its variety of innovative polyurethane-based foam solutions focusing specifically on mobility and construction applications in the Foam Expo Europe. For the mobility industry, the company offers various bio-based foam technologies.
These bio-based technologies can help automotive manufacturers deliver a 9% level of bio-based content - according to ASTM-D6866-12. Recently, Huntsman launched ACOUSTIFLEX S NBR polyurethane foam system designed for acoustic engine and trunk compartment applications.
Segmentation
By Type
Sheets
Blocks
By Raw Material
Diisocyanates
Polyols
By Application
Medical Imaging Equipment
Nuclear Containers
Refrigerator and Freezer Thermal Insulation Systems
Tooling and Molds
By End-User
Electrical and Electronics
Construction
Consumer Goods
Healthcare
Automotive
Sports
Furniture & Bedding
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Geographical Analysis
Asia-Pacific holds the largest market globally due to significant investments from the global companies
Asia-Pacific holds the largest market share for the rigid polyurethane foam market globally and is expected to continue its dominance in the forecast period. The growing use of rigid polyurethane foams has been witnessed in numerous industries, raising the demand in India, China, and Japan.
Underlying are global trends, such as the growth of cities, climate change, and the growing middle class, particularly in emerging economies where affordable and energy-efficient housing is required. These scenarios will drive the demand for efficient insulating materials like rigid polyurethane foam.
Various leading countries have been investing and expanding their PU foam business in the region amidst lucrative opportunities. For instance, in 2017, Dow Chemical has announced to expand its polyurethane business in India. The company has planned to expand its polyurethane system production facility situated in Maharashtra by 50%.
The company plays an important role in PU growth and has a strong presence in India regarding local manufacturing capability and application development to support market needs. Also, the developing knowledge of green construction and the growth of bio-based polyols are projected to give substantial prospects for the rigid polyurethane foams market.
Competitive Landscape
The rigid polyurethane foam market is highly competitive with the availability of the local players on a small and high scale in the countries. However, the global companies dominate the major share in the market growth due to their high sales revenues.
In addition, some of the key players contributing to the market's growth are Huntsman International LLC, General Plastics Manufacturing Company, BASF SE, Sealed Air Corporation, Borealis AG, Covestro AG, JSP Corporation, Armacell International S.A, Zotefoams Plc, Woodbridge Foam Corporation, and others.
The players are adopting various new strategies to dominate the market, such as acquisitions, partnerships, and collaborations, contributing to the growth of the rigid polyurethane foam market globally.
Related Topic's
Foam Insulation Market, Polyurethane Foam Market, Microcellular Polyurethane Foam Market, Metal Foam Market, Elastomeric Foam Market
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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