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Microcellular Polyurethane Foam Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: January 2024 || SKU: CH3341
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180 pages
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Microcellular Polyurethane Foam Market is segmented By Type (High-Density Foam, Low-Density Foam), By Application (Automotive, Building & Construction, Electronics, Medical, Aerospace, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Microcellular Polyurethane Foam Market Overview

The report on global microcellular polyurethane foam analyses the market size, shares, recent trends, competitive intelligence, and future market outlook. microcellular polyurethane foam usage in various parts of auto vehicles is on the rise. Demand from the automotive industry in the Asia Pacific is booming. The competitive rivalry intensifies with SE, Dow Inc., Saint-Gobain, and others active in the market. 

Microcellular polyurethane foam is flexible, open-cell, and closed-cell urethane foam that is very economical and possesses excellent resistance to compression set. The foam has good sealing, cushioning, and vibration control due to very low compression properties. Moreover, the open cell structure allows vapors and gas to pass through the material. It can also be put together to form an integral skin, as it is mechanically mixed, and therefore the cell size is more uniform.

Microcellular Polyurethane Foam Market Scope

Metrics

Details

Market CAGR

9.2%

Segments Covered

By Type, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

Asia Pacific

 

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Microcellular Polyurethane Foam Market Trends

The factors that increase the growth of microcellular polyurethane foam market application industries include the automotive, aerospace, and construction industries. The use of microcellular foams in various parts of auto vehicles, aircraft, medical, and also in insulation in housing constructions has led to an increasing demand for such foam. Moreover, an increase in consumer spending in emerging economies also increases the growth of the microcellular polyurethane foam market. However, volatile raw material prices are the major restraint for the microcellular polyurethane foam market growth as price fluctuations influence the production process. Moreover, an environmental impact is related to raw materials that are strictly regulated by many governing bodies to reduce carbon footprint. Therefore, this limits the global microcellular polyurethane foam market growth.

Growing Demand from the Automotive Industry

Microcellular polyurethane foams offer a greater purpose in the automotive industry owing to their lightweight feature as they are used for a variety of purposes such as sealing, weatherproofing gaskets cushioning, and vibration control. Furthermore, in the automotive sector, apart from engine covers, polyurethane foams are also used in seating for comfort as well as cushioning and car bodies to provide insulation against the noise and heat of the engine.

This product acts as a better alternative for rubber while offering space savings, weight reduction, and improved durability. Furthermore, it offers a high load-bearing capability and outstanding load-deflection characteristics. The rising demand for air travel coupled with huge backlog orders is going to increase the growth of aircraft manufacturing in the upcoming years. Moreover, the product exhibits promising future trends due to properties such as weight reduction and fuel efficiency optimization. These aforementioned trends will increase the market growth within the forecast timespan.

Escalated consumer spending in emerging economies

The aggregate emerging market consumption has expanded more quickly and the advanced economies and emerging markets will account for an increasing share of global consumption. Large multinationals with solid brands, innovation, well-developed infrastructure, and deep pockets are in the best position to capitalize. Successful execution of developing market expansion can help the leverage cost structures, sales growth, better and diversify geographically. This will result in the growth of the market.

Increasing demand in the electronics industry

One of the major factors which are driving the growth of the Microcellular Polyurethane Foam Market is the increase in the demand in the electronic industry. The microcellular polyurethane foam market growth will be driven by increasing demand from the electronics industry. They are used in electrical enclosures. Specialty polyurethane foam is also used in electronic gasketing and cellular phones. These factors will drive growth in the forecast period.

COVID-19 Impact on Microcellular Polyurethane Foam Market Growth

The COVID-19 pandemic affected the economy globally. COVID has directly affected production and demand, supply chain disruption, and financial impact. Also, COVID-19 has directly impacted the manufacturers' supply chain worldwide and has shut down production facilities to minimize the risk of virus spread. Moreover,  the lockdown policies have strengthened the demand for raw materials for the industries such as automotive, aerospace, construction, and others across the globe. Therefore, the key market players and huge capital manufacturers are started investing to increase the production capabilities to meet the global market's updated demand. Hence, there has been a decline in demand for Microcellular Polyurethane Foam from industries such as Automotive, Building & Construction, Electronics, Medical, Aerospace, and Others. The demand for raw materials from such industries has declined due to COVID and therefore affecting the overall industry. Hence, this industry has been hugely impacted by COVID-19.

Microcellular Polyurethane Foam Market Segment Analysis

Based on the type, the microcellular polyurethane foam market has been classified into high-density foam and low-density foam.

High-density foam accounted for the highest market share in the global market

The high-density microcellular polyurethane holds the largest share of the market. The high-density microcellular polyurethane has a significant share worldwide, due to the widespread use of high-density microcellular polyurethane foam in upholstery, car seats, and bedding. Moreover, high-density closed-cell foams are used in the bumper and other protective applications due to their high strength and flexibility whereas open-cell structures are used to produce engine covers that are characterized by good sound absorption and thermal engine encapsulation.

Based on the application, the Microcellular Polyurethane Foam Market has been classified into automotive, buildings & construction, and others

The automotive segment dominated the Global Microcellular Polyurethane Foam Market in 2019

The automotive, building & construction, medical, aerospace, and electronics segments have contributed a major share to the global microcellular polyurethane foam market. The automotive segment is expected to be the fastest-growing application segment of the market, as microcellular polyurethane foams are widely used in this industry to increase the safety, comfort, quality, and visual appeal of vehicles. Moreover, the increasing use of lightweight components in defense aircraft and aerospace is expected to increase the growth of the market for microcellular polyurethane foam due to its durability and flexibility.

Microcellular polyurethane foam is also used in the automotive industry for automotive gaskets, instrument panels,  bumpers, and others.  It offers properties such as significant weight reduction, therefore, improving fuel efficiency and environmental performance. Furthermore, Continuous research and development activities supported by huge investments will characterize automobile production shortly. Moreover, Various stringent regulations such as Corporate Average Fuel Economy (CAFÉ) and EU 2019/631 to control the CO2 emission levels to save the environment will compel manufacturers to opt for materials that contribute to weight reduction. This will lead to the overall growth of the product market during the forecast period.

Microcellular Polyurethane Foam Market Geographical Share

Based on geography, the study analyzes the Microcellular Polyurethane Foam Market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

The Asia Pacific leads the global market throughout the forecast period.

The Asia Pacific has contributed the highest share in the microcellular polyurethane foam market share due to rising demand from the automotive and electronics sectors. Countries such as China, India, and Japan are some of the leading countries in terms of global automotive production. Moreover, increasing concerns regarding CO2 emission levels & fuel economy in co-occurrence with favorable government policies & technological progressions are bound to transform the regional automotive industry in the forecast period. Moreover, the Asia Pacific electronics industry is booming due to the rising middle-class population and disposable income.

Decreasing prices of electronic products, technology transitions, and adoption of high-end electronic devices will increase the pace of the regional electronics sector in the forecast period. China and Japan were the key markets for microcellular polyurethane foam in Asia-Pacific.

The rise in the number of vehicles is augmenting the growth of the market in these countries. In aerospace and defense, microcellular polyurethane foam provides excellent comfort and cushioning during travel. The increase in investments in the defense sector from India and China is expected to drive market growth during the forecast period. However, the recent developments by various market players in long-range electric vehicles and by achieving global safety and quality standards are expected to drive the market in the forecast period. Government support is contributing to the increasing demand for the microcellular polyurethane foam market during the forecast period.

Microcellular Polyurethane Foam Market Companies and Competitive Landscape

The Microcellular Polyurethane Foam Market is highly competitive. The key microcellular polyurethane players who are contributing to the growth of the global market include SE, Dow Inc., Saint-Gobain, Huntsman Corporation, Evonik Industries, INOAC Corporation, Rogers Corporation, Rubberlite Inc., Mearthane Products Corporation, Kuraray Co., Ltd., And others.

BASF SE

Overview: BASF SE is a German multinational chemical company and one of the largest chemical producers in the world. The BASF Group includes subsidiaries and joint ventures in more than 70 countries and operates six integrated production sites and 390 other production sites in countries such as Europe, Asia, Australia, the Americas, and Africa. Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries. Despite its size and global presence, BASF has received relatively little public attention since it abandoned manufacturing and selling BASF-branded consumer electronics products in the 1990s.

Product Portfolio: The company's portfolio comprises Chemicals, plastics, performance chemicals, catalysts, coatings, crop technology, crude oil, and natural gas exploration and production

Why Purchase the Report?

  • Visualize the microcellular polyurethane foam market segmentation composition by type, application, and region, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the microcellular polyurethane foam market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the microcellular polyurethane foam market - level 3 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the critical product of all major market players.

The global microcellular polyurethane foam market report would provide access to approx. 48 market data tables, 45 figures, and 180 pages.

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