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We expect the global polyurethane (PU) foam market to exhibit a CAGR of 6.81% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous construction activities, thereby negatively impacting the market for PU foam.
Significant growth in the construction industry, along with the rising adoption of flexible and semi-rigid polyurethane foams for coatings, paints, and adhesives in residential and commercial complexes, are currently driving the global polyurethane (PU) foam market.
Based on the product type, the market has been bifurcated into flexible foam, rigid foam, and spray foam. Currently, flexible foam holds the majority of the total market share.
Based on the end-use industry, the market has been divided into bedding and furniture, building and construction, electronics, automotive, packaging, footwear, and others. The bedding and furniture industry currently exhibits a clear dominance in the market.
On a regional level, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global polyurethane (PU) foam market include BASF SE, Covestro AG, Foamcraft Inc., Future Foam Inc., Huntsman International LLC. (Indorama Ventures Public Company Limited), Recticel NV/SA, Rogers Corporation, Saint-Gobain S.A., Sekisui Chemical Co. Ltd., The Dow Chemical Company, Tosoh Corporation, UFP Technologies Inc., Wanhua Chemical Group Co. Ltd., etc.
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