Colored PU foams Market to reach around US$ 29,854.9 million by 2027 - Coherent Market Insights

Colored PU foams have similar properties as conventional PU foams but it is modified as per its desired applications. It is highly flexible and high-performance polymer that makes it ideal material across various end-user industries. This includes automotive, furniture, construction, electronics, sports, and packaging.

The global colored PU foams market is estimated to account for US$ 17,590.5 Mn in terms of value and 5,882.6 Kilo Tons in terms of volume by the end of 2019.

Drivers:

Growth in the construction industry is a prime factor driving the market growth of colored PU foams. Increasing application of colored PU foams interior construction materials for homes and buildings are significantly raising the demand. It is used as an insulating material makes it ideal construction material. Also, increasing adoption of energy-efficient and high-performance construction materials due advancement in technology is further anticipated to augment the market growth of colored PU foams.

Market Opportunities

Increasing spending of the consumers on the home interior products such as luxury sofas& couches, furniture, and the mattress is projected to provide lucrative opportunities. Moreover, the market growth of the colored PU foams is also growing on the account of the increasing investment by manufacturers to develop innovative colored PU foams products in order to meet the evolving demand across consumers.

Market Restraints

The market of colored PU foams is at a mature phase across developed regions such as North America and Europe due to which the regions are experiencing a steady growth rate. This condition is expected to remain same in the coming future. Hence this is expected to hinder the market growth of the colored PU foams.

Key Takeaways:

Global colored PU foams market was valued at US$ 17,590.5 million market in 2019 and is forecast to reach a value of US$ 29,854.9 million by 2027 at a CAGR of 7.8% between 2019 and 2027.

Flexible PU form segment dominated the global colored PU foams market in 2019, accounting for 56% share in terms of value, followed by rigid PU foam.

Furniture and interior segment dominated the global colored PU foams market in 2019, accounting for 27% share in terms of value, followed by construction and electronic appliance segment respectively

Market Trends

Increasing use of colored PU foams in sports apparel is expected to fuel the market growth. The growing number of people participating in sports activities due to the growing health wellness trend is propelling the demand for sports apparel. They are widely used in the helmets, footwear gymnastic mats, wrestling mats, etc. Thus growing use of such PU foams from the sports industry for manufacturing sports apparel is projected to propel the market growth.

Increasing focus of the manufacturer to increase the production capacity of the PU foams is a key trend in the market. For instance, in September 2019, Huntsman Corp. announced the opening of its new polyurethanes systems house in Dubai. The goal of the new facility is to increase the production capacity of polyurethane systems for construction, insulation, appliances, bedding, and furniture applications.

Colored PU Foams Market - Impact of Coronavirus (Covid-19) Pandemic

However, Coronavirus (COVID-19) pandemic has impacted almost all the industries globally including industrial automation and machinery. According to Coherent Market Insight’s estimate, in 2020, industrial automation and machinery industry will experience a 7% decline owing to impact of COVID-19 pandemic and is expected to decrease to a value of US$ 199.0 billion in 2020 from 214.0 billion in 2019. Thereby, hindering the growth of colored PU foam market over the forecast period.

Competitive Section:

Company Names 

1. BASF SE
2. Bayer MaterialScience AG
3. Rogers Corporation
4. The Dow Chemical
5. Carpenter Company
6. Stepan Company
7. Saint-Gobain Performance Plastics
8. Huntsman Corporation
9. Recticel SA
10. INOAC Corporation

Few Recent Developments

1. In February 2018, Rogers Corporation announce a development partnership with XOnano Smartfoam, the provider of self-sensing foam materials and wireless measurement technologies, to create” smart” foams. 
2. In August 2018, Rogers Corporation announced the acquisition of Griswold LLC, a manufacturer of custom-engineered cellular rubber and microcellular polyurethane foams.
3. In June 2018, Stepan, has presented polyester polyols for PU applications at Utech Europe 2018. These products include commercial and industrial surfactants, nutritional oils, aromatic and aliphatic polyester polyols for rigid and flexible foam, coatings, adhesives, sealants, and polyurethane elastomers.

Segmentation