Microcellular Polyurethane Foam Market to Post 5.5% CAGR to 2021, Forecasts M&M in Its New Report Published at MarketPublishers.com
17 Jun 2016 • by Natalie Aster
LONDON – The global market for microcellular polyurethane foams is expected to see a 5.5% CAGR to 2021 and reach the USD 6.95 billion mark by 2021-end. Advanced characteristics of microcellular polyurethane foams and surging demand from the different end-use sectors are amid the major factors that are anticipated to propel the market growth.
The automotive segment captured the lion’s share of the marketplace. The soaring number of OEMs in the automotive sector is likely to fuel this segment’s growth, as microcellular polyurethane foam is broadly used in the automotive sector to enhance comfort, quality, visual appeal, and safety of vehicles.
As regard to the market segments, high-density foam will likely witness considerable growth in the years to come. The advanced characteristics of high-density foams, like high performance and endurance are the key factors reliable for a hike in the demand of these foams, particularly from the automotive sector.
APAC was the largest consumer of microcellular polyurethane foam as of 2015, with China and Japan leading the drive. The upsurge in the number of vehicles is a primary factor set to result in the increased growth in these country markets.
New research report “Microcellular Polyurethane Foam Market” prepared by M&M draws up a comprehensive picture of the market space on a worldwide level. It presents segmentation of the market by type, application, and geographic region. The report provides market size and growth data, historical and forecast, for the overall market and each segment in question. It provides industry trends analysis, pricing analysis of microcellular polyurethane foams and raw materials, assessment of economic indicators, value chain analysis, etc. The study canvasses major drivers, limiters, emerging opportunities, and challenges pertaining to the marketplace. The report scrutinizes the competitive landscape. It also discusses competitive strategies employed by various market participants, like BASF SE, The Dow Chemical Company, Huntsman Corporation, Era Polymers, and Evonik Industries, amid others.
More studies by M&M are available at the publisher’s page.