The market for flexible colored PU foams was valued at USD 5.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5% to reach USD 8.8 billion by 2032.
PU (Polyurethane) comes across as a polymer comprising organic monomers joined through urethane links. They are available in the thermosetting and thermoplastic form. The application areas include producing high resilience foams, seals, insulation panel foams, footwear soles, and various other products. They are, in fact, light, soft, durable in nature. This makes them indispensable with respect to vehicle interiors in particular.
Thermoplastic PU foams are abreast with dry heat resistance, ozone and oxygen resistance, water resistance, and the ability of staying flexible at lower temperatures as well. The other properties include reduction of noise, resistance against flames, grease, oil, mildew, fungus, and molds. Thermosetting PU foams provide resistance against abrasion. The insulation properties would help in home appliances like freezers and hot water systems.
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At the same time, the fact that PU is flammable and does release carbon monoxide with hydrogen cyanide, nitrogen oxides, and the other toxic chemicals can’t be ignored. Plus, prices of raw materials are fluctuating at regular intervals. The other risks include contamination of water, greenhouse gas emissions, and soil deterioration. These factors are likely to restrain the flexible colored PU foams market going forward.
The above-mentioned restraints are being worked upon by looking out for bio-based colored PU foams. This would thus safeguard the environment.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Flexible Colored PU Foams Market’ through its determined team of analysts and consultants deploying a 360-degree view in its primary, secondary, and tertiary modes of research.
“With flexible colored PU foam being used frequently in the production of seals, gaskets, and the other broad spectrum of applications, the global flexible colored PU foams market is likely to grow on an astounded note going forward”, says an analyst from Future Market Insights.
Key Takeaways from Flexible Colored PU Foams Market
- North America holds the largest market share. This could be credited to higher demand for flexible colored PU foams in automotives and electronics appliances.
- Europe is expected to hold a significant market share on the similar grounds.
- The Asia-Pacific is expected to witness growth at a rapid pace in the flexible colored PU foams market on the back of construction, furniture, and interiors vertical.
- MEA is expected to grow based on advantages offered by flexible PU foams like being free of HCFCs, CFCs, thereby having a non-Ozone Depleting Potential (non-ODP).
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Competitive Foams
- BASF, in June 2020, did develop a chemical recycling process to cater to mattress raw materials like flexible PU (polyurethane) and utilize them for making new mattresses.
- Hyundai Motor Company’s Ulsan-based plant, in October 2019, exclusively used BASF’s Elastoflex to produce car seats.
- Huntsman Corp., in September 2019, did announce opening the novel ‘polyurethanes systems house’ in Dubai. The objective is that of increasing manufacturing capacity for insulation, construction, bedding, appliances, and furniture.
- Huntsman, in September 2019, partnered with DKSH’s Business Unit Performance Materials for distributing the Polyol and MDI-based polyurethane solutions to India’s automotive vertical.
Top Key Players in the Global Market
- BASF SE
- Carpenter Company
- Bayer Material Science AG
- Huntsman Corporation
- Recticel SA
- INOAC Corporation
- Saint-Gobain Performance Plastics
- The Dow Chemical Company Rogers Corporation Stepan Company
- Era Polymers Pty Ltd
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What does the Report say?
- The research study is based on cell structure (flexible colored PU foams and rigid colored PU foams), and by application (flexible colored PU foams for upholstery furniture, flexible colored PU foams for bedding, flexible colored PU foams for packaging, flexible colored PU foams for automotive accessories, flexible colored PU foams for construction, and flexible colored PU foams for electronics).
- With flexible colored PU foams being increasingly used in cushioning and bedding, the global flexible colored PU foams market is slated to grow on a sturdy note going forward.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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