Allied Market Research
published a report, titled, "Microcellular Polyurethane Foam Market by Type (High Density Foam
and Low Density Foam) and Application (Automotive, Building & Construction,
Electronics, Medical, Aerospace, and Others): Global Opportunity Analysis and
Industry Forecast, 2019–2026." According to the report, the global microcellular
polyurethane foam industry accounted for $5.2 billion in 2018, and is
expected to garner $8.1 billion by 2026, registering a CAGR of 5.6%
from 2019 to 2026.
Drivers, restraints, and
opportunities
The usage of microcellular foams
in various parts of auto vehicles, medical, aircrafts along with insulations
for housing constructions and surge in consumer spending drive the growth of
the global microcellular polyurethane foam market. However, volatile raw
material prices that impact production restrain the market growth. On the other
hand, untapped potential in the Asia-Pacific region create new
opportunities in the industry.
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The low-density segment to
maintain its dominant position during the forecast period
Based on type, the low-density
segment accounted for the highest market share in the global microcellular
polyurethane foam market, accounting for nearly one-fourth of the total market
share in 2018, and is expected to maintain its dominant position during the
forecast period. However, the high-density segment is expected to grow at the
fastest CAGR of 6.8% from 2019 to 2026, owing to its preference in various
applications for the ease in structuring through 3D printing and capability of
layering.
The automotive segment to
maintain its leadership position by 2026
Based on application, the
automotive segment accounted for nearly one-third of the total market share of
the global microcellular polyurethane foam market in 2018, and is estimated to
maintain its leadership position throughout the forecast period. Moreover, this
segment is expected to witness the highest CAGR of 6.1% from 2019 to 2026. This
is due to reduced weight to cost ratio that leads cost reduction and fuel
efficiency in automobiles. The research also analyzes segments including
building & construction, electronics, medical, aerospace, and others.
North America to be fastest
growing region
Based on region, North
America is expected to portray the highest CAGR of 6.5% from 2019 to 2026.
This is due to presence of major corporations in the region operating in the
automotive, building & construction and aerospace industries in which foams
are widely used. However, Asia-Pacific held the largest market share
in 2018, accounting for nearly one-third of the global microcellular
polyurethane foam market, and will continue to dominate in terms of revenue
during the forecast period.
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Leading Market Players
·
BASF SE
·
Dow Inc.
·
SAINT-GOBAIN
·
Huntsman
Corporation
·
Evonik
Industries
·
INOAC
Corporation
·
Rogers
Corporation
·
Rubberlite
Inc.
·
Mearthane
Products Corporation
·
Kuraray
Co., Ltd.
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