Polyurethane Foam Market
The PU foam market has become an important category of thermoplastic being used for diverse applications in recent years. Primarily these products have increased demand for high usage in end-user industries majorly construction, automotive & packaging industry
Nowadays, demand for polyurethane foam products used for building and construction purpose is rising globally. The United States is one of the major prominent markets for the sale of these products.
PU foam is used in the construction sector for varied reasons such as for insulation, providing strength, saving energy and adding to the aesthetic appearance of buildings & structures.
The United States market has witnessed continuous growth in sales figures of PU foam products being used in building & construction sector. The sale of these products in this region has increased from 1214.11 million dollars in 2012 to 1493.4 million dollars in 2016.
Factors Driving the Market Growth
- The rapid growth of construction industry and usage of foam for insulation, sound absorption, padding & strengthening the structures built.
- Increasing infrastructure spending by the U.S. government to improve the existing public structures has also been one of the major reason to increase the sales of these polymer products.
- Increased use of PU foam in modern houses & commercial construction projects to improve acoustic comfort & ambiance if the buildings or complexes.
- Ecological benefit of lower interior noise pollution in buildings from using these materials is also accelerating their sales in this region.
- PU provides durability, comfort & is light in weight with lower cost as compared to its competitors which increase their demand from consumer’s point of view in this sector.
- It helps to reduce the total energy expenditure of the constructed structures, which makes it an ideal choice for builders to save energy and thus fuel its market demand and sales.
Factors Restraining Market Growth
- Volatility in prices of raw materials ( Methylene diphenyl diisocyanate (MDI) & Toluene diisocyanate) due to fluctuation in prices of feedstock such as benzene hinders the market growth.
- As both the raw materials used in the production of PU are highly toxic in nature, they face strict government regulations & are dependent on crude oil availability which again hampers the market demand.
- Environmental pollution caused by the usage of these synthetic foams & problems associated with their degradation pull back the growing market.
Emerging Trends in the Market
With the increasing concerns for environmental sustainability and awareness among consumers for usage of environment-friendly products, demand is shifting towards bio-based products.
Nowadays, The United States has shifted their focus towards development of bi-polyurethane foam products to reverse the negative effects that hamper the market growth.
Another emerging trend associated with usage of PU foam products is innovative uses of these products in building & construction sector which adds to the aesthetic appearance and also help in saving energy consumption of the buildings.
Prominent Market Players
Leading manufacturers of Polyurethane foam in The United States of America include BASF, Bayer Material Science, The Dow Chemical Company and Huntsman Corporation