New York, United States , Dec. 01, 2022 (GLOBE NEWSWIRE) -- The Global Polyurethane Foam Insulation Materials Market Size to grow from USD 28,314.75 million in 2021 to USD 52,055 million by 2030, at a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. The polyurethane foam insulation market is growing due to the expansion of end-use industries in developing countries like India, Thailand, and others, including bedding and furniture, electronics, automotive, and building and construction.
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The flexible foam segment to account for the largest market size during the forecast period.
Based on the type, the global polyurethane foam insulation materials market is categorized into Flexible Foam, Rigid Foam, and Spray Foam. The flexible foam segment accounts for the largest market size during the forecast period. Due to its exceptional qualities, including durability, resiliency, energy absorption, and handling strength, flexible foam is widely used in various industries, including furniture, transportation, bedding, packaging, and textiles.
The building and construction segment to hold a higher CAGR during the forecast period.
Based on the application, the polyurethane foam insulation materials market is categorized into Automotive, Medical, Building and Construction, Packaging, and Others. The building and construction segment to hold a higher CAGR during the forecast period. The building and construction sector uses polyurethane foam most frequently for domestic, industrial, and commercial purposes. Flexible chemical material polyurethane foam can be used for insulation, filling, sealing, and bonding in various building applications. It is perfect for uses including water pipe insulation, roof, and wall bonding, sealing, and, most crucially, door and window frame installation because of its excellent thermal and acoustic insulation qualities. The US Censor Bureau estimates that the overall construction cost in April 2022 will be USD 1,744.8 billion, 12.3% more than the predicted USD 1,5553.5 billion in April 2021.
Browse key industry insights spread across 197 pages with 124 market data tables and figures & charts from the report “Global Polyurethane Foam Insulation Materials Market Size, Share, and COVID-19 Impact Analysis, By Type (Flexible Foam, Rigid Foam, and Spray Foam), By Application (Automotive, Medical, Building and Construction, Packaging, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents.
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On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programs. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
North America to hold a higher CAGR during the forecast period.
The Global Polyurethane Foam Insulation Materials Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East, and Africa. Asia- Pacific is estimated to account for the highest market share in 2022. It is anticipated that the Asia-Pacific region will control the market. China is the largest economy in the region in terms of GDP. China is one of the world's fastest-growing rising economies, followed by India. As the world's largest footwear producer, China is also the top user of PU. China dominates the global market as the top producer and exporter of footwear. In 2021, China exported more than 8 billion pairs of footwear. China, on the other hand, is the largest producer and consumer of automobiles worldwide. OICA claims that with a total vehicle output of 26.08 million units in 2021—an increase of 3% over the 25.23 million units produced the previous year—China would have the world's most significant automotive production base.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Polyurethane Foam Insulation Materials Market include Bayer Ag, Armacell GmbH, Compagnie De Saint-Gobain S A, Huntsman Corporation, Nitto Denko Corporation, Inoac Corporation, The Dow Chemical Company, Tosoh Corporation, Trelleborg Ab, Sekisui Chemical, and Wanhua Chemical Group Co. Ltd.
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