SEATTLE--(BUSINESS WIRE)--Colored PU foams are polymers that have excellent physical properties such as durability, flexibility, and fatigue resistance. Moreover, it also provides versatile designs, thermal resistance, and energy-efficient energy. Floor insulation, packaging, bedding, and automotive accessories are some of the key applications of the colored PU foams.
The global colored PU foams market is estimated to account for US$ 17.5 Billion in terms of value and 5,882.6 Kilo Tons in terms of volume by the end of 2019.
Market Drivers:
The rise in the construction industry is predominantly fueling the market growth of the colored PU foams. They are widely used as insulating and energy-efficient products in walls. An increase in the population is creating demand for infrastructural buildings and other infrastructure which is again boosting demand for colored PU foams. The Growing disposable income of the consumers coupled with the improving standard of living is further anticipated to foster the market growth of colored PU foams over the forecast timeframe.
The growing demand for colored PU foams from the electronic industry is projected to foster market growth. Moreover, the high demand for high-performance foams from interiors, furniture, and packaging is also expected to foster the market growth. Furthermore, high demand for the product from transportation and packaging application due to their durability, high strength, and energy absorption is further expected to foster the market growth of the colored PU foams. All these factors are augmenting the market growth of the colored PU foams.
Market Restraints:
Strict rules and regulation regarding the approval of chemical products used in the production is hampering the production process. This factor is expected to restrict the market growth of the colored PU foams.
Market Opportunities:
Growing popularity of flexible colored PU across various end-user industries is projected to provide lucrative market opportunities in the near future. Flexible foams are highly durable and exhibit excellent energy absorption properties which makes them suitable for bedding, textiles, packaging, and furniture. Moreover, flexible colored PU are majorly used in the cushioning application, thus growing demand for cushions is projected to foster the market growth of the colored PU foams.
Increasing strategic merger and acquisition among key players for business expansion is expected to offer potential growth opportunities in the market. For instance, in February 2017, Arsenal Capital Partners acquired part of the polyurethane foam business of Covestro LLC's business. The transaction includes certain assets of Covestro's North American spray PU foam business, which is located in Spring, Texas.
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Market Trends:
Growing demand for luxury couches, mattresses, and carpets among the urban population is expected to bolster the market growth of the colored PU foams. Robust growth in the urban population is driving demand for luxury furniture such as designer chairs, headrest, and cushion seats. Also, the rise in the furniture industry due to increasing innovation in furniture products such as the launch of more comfortable and cost-effective furniture is further expected to propel the market growth of the colored PU foams in the near future.
Increasing investment in the industrial sector coupled with healthy economic growth is contributing to the market growth of the colored PU foams. Growing research and development programs for developing high-performance and green products in order to reduce the environmental impacts is again expected to stimulate the market growth of the colored PU foams.
Competitive Landscape:
Major players operating in the global colored PU foams market are BASF SE, Bayer Material Science AG, Rogers Corporation, The Dow Chemical Company, Carpenter Company, Stepan Company, Saint-Gobain Performance Plastics, Huntsman Corporation, Recticel SA, and INOAC Corporation.
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Market Taxonomy:
Product Type
- Rigid PU Foam
- Flexible PU Foam
Application
- Furniture & Interiors
- Construction
- Electronics Appliances
- Automotive
- Footwear
- Packaging
- Others
Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Recent Developments:
In January 2018, Dow Corning Polyurethane Additives (PUA) incorporated into the Dow Polyurethanes portfolio under the Vorasurf polyurethane additives brand name, as per GV. Vorasurf polyurethane additives will serve the ComfortScience, InsulationScience, and DurableScience markets of Dow Polyurethanes, helping to meet the growing demand for products like bedding, spray foam, and footwear.
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