Colored PU Foams Market

Colored PU Foams Market Size

Colored PU foams market is expected to exceed USD 120.8 billion by 2030 from USD 66.7 billion in 2021 at a CAGR of 6.80% throughout the forecast period i.e. 2020-2030. 

Polyurethane (PU) foam is a distinct and enormous section of polyurethane (PU). PUs is considered to be a part of our day to day life. Foams have a substantial role in commercial and industrial divisions reaching from automotive to refrigeration. Foams are categorized as flexible and rigid foams. Colored PU Foams are thermosetting polymers having characteristics such as flexibility, rigidity, durability, and fatigue resistance. It provides high functioning, adaptable strategies, flexibility, thermal defiance, and use of energy for the products. Applications of colored PU foams comprise bedding, packaging, upholstery furniture, floor insulation, automotive accessories, etc. Traditional foams have related collections as the colored PU foams have; nevertheless, colored PU foams could be customized according to their preferred application. Additionally, Due to the diverse characteristics of colored PU foams, these are used in sectors like automotive, interior construction, furniture, electronics appliances, footwear, sports, packaging, leisure apparel, etc.

Market Highlights

Colored PU foams market is expected to project a CAGR of 6.80% during the forecast period, 2020-2030

The market is anticipated to grow on the back of growing end-use industries in evolving regions and increasing demand for PU foam in building insulation for energy conservation. The rising need for an appealing and contented interior in automotive is anticipated to strengthen the development of the global colored PU foam market in the coming years. It lowers down weight and raises the fuel economy along with comfort, corrosion defiance, insulation, and sound immersion in automotive. Moreover, it has several uses in Electronics as well as in Construction. The increasing need for furniture and interiors of colored PU foams like luxury sofas, chairs, cushions, and floorings on a large scale is estimated to acquire the rise of the global colored PU foam market. Growing demand for the PU in packaging is expected to cause the growth of the global colored PU foam market during the forecast period

Global Colored PU Foams Market Opportunity Analysis

Global Colored PU Foams Market: Segments

The Flexible Foam segment to grow with the fastest CAGR of xx% during 2020-2030

The global colored PU foams market is segmented by Product Type into Rigid Foam, Flexible Foam, and Spray Foam. Among these, the flexible foam segment is estimated to hold the largest market share of xx% in 2019. Flexible PU foams are the highest income-producing segment as an outcome of its open-cell foam that is efficient in offering comfort and adaptable designs to the products.

The Automotive segment to boost at the fastest CAGR of xx% during 2020-2030

The global colored PU foams market is segmented by End-users into Bedding, Furniture & Interior, Building & Construction, Electronic Appliances, Automotive, Footwear, Packaging, and Others. Among these, the automotive segment is witnessed to hold the largest market share of xx% in the year 2019. It is mainly used in designing the interior of automobiles because of its lightweight which raises the fuel economy of the vehicles. The increasing need for automobiles around the world is estimated to progressively affect the development of the colored PU foam market in the approaching years. Additionally, it is also utilized in the production of appealing furniture, and rising spending on furniture is projected to push the growth of the colored PU foam market over the forecast period.

Market Dynamics

Driver

Growth of End-use Industries in Developing Regions

PU foam is widely used in the furniture, building & construction, electronic, and automotive sectors. PU foam is mainly used in the automotive sector for cushioning. It is one of the most useful protection materials existing, making it appropriate for the electronic industry, particularly in refrigerators and freezers. The construction sector is a key user of PU foam in the form of rigid foam, coatings, and sealants & adhesives.

High Demand for PU Foams in Building Insulation for Energy Conservation

PU foam is a highly flexible material that helps in lowering the total structural cost and energy consumption and is used in numerous sectors, like construction, furniture, bedding, automotive, binding, and many other sectors. PU foam assists architects in better insulating the buildings, which minimizes the intake of gas, oil, and electricity. PUs is considered to be the most affordable, long-lasting, and safe means of decreasing carbon emanations that cause global warming. This is because these are easily accessible and cost-efficient alternatives that are durable, and are used for energy transformation, resulting in the decline in carbon emanations.

Restraint

Severe Environmental Principles on the Use of Colored PU Foam

Colored PU foam is used in automotive and bedding & furniture applications. National Emission Standards for Hazardous Air Pollutants (NESHAP), ecological principles by the US EPA comprise some guidelines for new and prevailing plant locations that produce colored PU foam. This rule was put into action in 1998 for the management of the secretions of methylene chloride, 2,4-Toluene Diisocyanate (TDI), methyl chloroform, Methylene Diphenyl Diisocyanate (MDI), methanol, diethanolamine, propylene oxide, methyl ethyl ketone, and toluene.

Changing Prices of Raw Materials

PU foam is costly due to the changing raw material prices, which act as a key restraint for the market. The primary raw materials used for the manufacturing of PU foam consist of benzene, toluene, and phosgene. Variations in the demand and supply of these raw materials could have a foremost effect on the PU foam industry. As benzene and toluene are obtained from crude oil, higher crude oil prices lead to a rise in the prices of benzene and toluene and subsequently, MDI and TDI.

Global Colored PU Foams Market: Regions

North America to surge at the highest CAGR of xx% during 2020-2030

Region-wise, the market for colored PU foams across the globe is segmented into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, North America is witnessed to constitute xx% of the total market share in the year 2019. The rise in the PU foam market in North America is mainly pushed by the rising need for colored PU foam from end-use industries in this region. Furthermore, there is a substantial need for PU foam for particular applications, such as automotive seating and customer requirements. There is also a great demand for spray PU foam in the European region for use in the building & construction industry.

By Region (in %), Global Colored PU Foams Market, 2019

The global colored PU foams market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Global Colored PU Foams Market: Key Players

• Huntsman Corporation

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Recticel
• Carpenter Company
• Rogers Corporation
• Stepan Company
• Saint-Gobin Performance Plastics Corporation
• Bayer Material Science
• The Dow Chemical Company
• BASF
• Others

The market report on global colored PU foams also contains the following in-depth analysis:

Coloured PU Foams Market Segment

• By Product Type 
  • Rigid Foam
  • Flexible Foam
  • Spray Foam
• By End-users 
  • Bedding
  • Furniture & Interior
  • Building & Construction
  • Electronic Appliances
  • Automotive
  • Footwear
  • Packaging
  • Others
• By Region 
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • Asia Pacific
• Colored PU Foams Market Dynamics
• Colored PU Foams Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints