The global polyurethane foam insulation materials market is estimated to be valued at US$ 28,314.75 million in 2021, according to the Global Polyurethane Foam Insulation Materials Market report, by Type (Flexible Foam, Spray Foam, and Rigid Foam), by Application (Building and Construction, Automotive, Medical, Packaging, and Others (Electronics, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East and Africa), published by Coherent Market Insights.
The global polyurethane foam insulation materials market is expected to surpass US$ 44,875.73 Million by 2028 and exhibit a CAGR of 6.80% during the forecast period (2021-2028). Polyurethane foam insulation is utilized in residential construction for a variety of reasons including reducing energy consumption, lowering air infiltration, and providing thermal protection. Polyurethane foams are also widely used in insulating homes since they are less expensive than other types of insulated building materials. Thermal insulation with polyurethane foam insulation materials is used to prevent heat loss. According to the U.S. Department of Energy, with heating and cooling costs equal to 56% of the energy used in the typical American home, rigid polyurethane foam can save money while maintaining a constant temperature.
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Browse 50 market data tables* and 45 figures* on "Global Polyurethane Foam Insulation Materials Market” - Forecast to 2028.
Key Trends and Analysis of the Global Polyurethane Foam Insulation Materials Market:
- Among regions, the global polyurethane foam insulation materials market is estimated to grow significantly in the European region due to increased use of polyurethane foam (PUF) products such as spray and rigid foams, particularly in transportation applications, as well as a growing inclination towards green construction. In Latin America due to rising construction activities, Brazil is an active local market for polyurethane foam insulation materials. Furthermore, growth in the construction industry is expected to drive the polyurethane foam insulation materials market in Brazil.
- Among type, the spray foam segment is expected to hold a significant position in the polyurethane foam insulation materials market over the forecast period. Sprayed polyurethane foam provides waterproof sealants, forms a smooth layer of insulation, fills gaps and cracks during the application, and covers irregular shapes that are hard to insulate. Closed-cell polyurethane spray foam insulation provides an efficient air and moisture barrier. Spray foam insulation can also reduce gaps, resulting in stronger, quieter structures.
Key Takeaways of the Market:
- Polyurethane construction materials provide adaptability to new home construction and renovation projects, and foam-core panels provide a wide choice of wall and roof colors and profiles, which is expected to result in a growth in the polyurethane foam insulation materials market over the forecast period.
- Polyurethane is widely used in medical applications such as catheter and general-purpose tubing, hospital beds, surgical drapes, wound dressings, and molded injection materials. Short-term implants are the most typical application.
- Polyurethane has been designed for a wide range of applications to provide good biocompatibility, flexural resilience, high power, high abrasion resistance, and manufacturing flexibility. Manufacturers of medical devices such as artificial hearts, catheter tubing, feeding tubes, surgical drains, intra-aortic balloon pumps, dialysis devices, non-allergenic gloves, medical equipment, hospital bedding, wound dressings, and more are constantly discovering new applications that require the use of polyurethane foam insulation materials. As a result of its high biocompatibility and mechanical qualities, polyurethane is widely used in cardiology and other biomedical disciplines. The market will grow during the forecast period as a result of the benefits provided by polyurethane foam in the medical industry.
- Major players operating in the global polyurethane foam insulation materials market include Bayer Ag, Armacell GmbH, Compagnie De Saint-Gobain S A, Ekisui Chemical Co. Ltd., Huntsman Corporation, Nitto Denko Corporation, Inoac Corporation, The Dow Chemical Company, Tosoh Corporation, Trelleborg Ab, Sekisui Chemical, and Wanhua Chemical Group Co. Ltd.
Global Polyurethane Foam Insulation Materials Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 had a negative impact on the market in discussion. As a result of the COVID-19 outbreak, the majority of polyurethane foam production factories in Europe have either closed or are running at a reduced capacity. The COVID-19 had a diverse influence on the construction sector in different parts of the world. According to European Construction Sector Observatory, in Europe, the building and construction industry witnessed a decline by 60–70% in 2020. However, in the Asia Pacific, the economy of China is improving as the construction and automotive sectors in most parts of the country have resumed normal activities. Automotive and bedding & furniture are the other two major end-use industries affected by the COVID-19 outbreak. In the case of the bedding and furniture industry, polyurethane foam manufacturing facilities that supply the mattress and furniture industries saw a 30% to 90% decline in production in April 2020, with much of Europe's retail industry shuttered. These factors had a negative impact on the polyurethane foam insulation materials market.
