Global Microcellular Polyurethane Foam Market - 2020-2027
|出版日期||內容資訊||英文 180 Pages
|全球微孔聚氨酯泡棉市場(2020年∼2027年) Global Microcellular Polyurethane Foam Market - 2020-2027|
|出版日期: 2021年05月10日||內容資訊: 英文 180 Pages||
Microcellular polyurethane foam is flexible, open cell, and closed cell urethane foam that is very economical possesses excellent resistance to compression set. The foam has good sealing, cushioning and vibration control due to very low compression properties. Moreover, the open cell structure allows vapors and gas to pass through the material. It can also be put together to form an integral skin, as it is mechanically mixed, and therefore the cell size is more uniform.
The global microcellular polyurethane foam market size was worth US$ XX billion in 2020 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The factors that increases the growth of microcellular polyurethane foam market application industries such as automotive, aerospace, and construction industries. The use of microcellular foams in various parts of auto vehicles, aircrafts, medical, and also in insulation in housing constructions have led to increase the demand for such foam. Moreover, increase in consumer spending in emerging economies also increases the growth of microcellular polyurethane foam market. However, volatile raw material prices is the major restraint for the microcellular polyurethane foam market growth as fluctuations in the prices influences the process of production. Moreover, environmental impact which is related to raw materials that are strictly regulated by many governing bodies with the aim to reduce carbon footprint. Therefore, this limits the global microcellular polyurethane foam market growth.
Growing Demand from the Automotive Industry
Microcellular polyurethane foams offers a greater purpose in the automotive industry owing to their lightweight feature as they are used for a variety of purposes such as sealing, weatherproofing gaskets cushioning and vibration control. Furthermore, in the automotive sector, apart from engine covers, polyurethane foams are also used in seating for comfort as well as cushioning and car bodies to provide insulation against noise and heat of the engine.
This product acts as a better alternative for rubber while offering space savings, weight reduction and improved durability. Furthermore, it offers high load bearing capability and outstanding load-deflection characteristics. Rising demand of air travel coupled with huge backlog orders are going to increase the growth of aircraft manufacturing in upcoming years. Moreover, the product exhibits promising future trends due to properties such as weight reduction and fuel efficiency optimization. These aforementioned trends will increase the market growth within the forecast time span.
Escalated consumer spending in emerging economies
The aggregate emerging market consumption has expand more quickly and the advanced economies, and emerging markets will account for an increasing share of global consumption. Large multinationals with strong brands, innovation, well-developed infrastructure and deep pockets are in the best position to capitalize.Successful execution of developing market expansion can help the leverage cost structures, sales growth, better and diversify geographically. This will result in the growth of the market.
Increasing demand in electronics industry
One of the major factor which is driving the growth of the Microcellular Polyurethane Foam Market is the increase in the demand in electronial industry. The microcellular polyurethane foam market growth will be driven by increasing demand from electronics industry. They are use in electrical enclosures. Speciality polyurethane foam is also used in electronic gasketing, cellular phones. These factors will drive the growth in the forecast period.
COVID-19 Impact Analysis
COVID-19 pandemic affected the economy globally. COVID has directly affected production and demand, supply chain disruption, and financial impact. Also, COVID-19 has directly impacted the manufacturers' supply chain worldwide and has shut down the production facilities to minimize the risk of virus spread. Moreover, the lockdown policies have strengthened the demand for raw materials for the industires such as automotive, aerospace, construction and others across the globe. Therefore, the key market players and huge capital manufacturers are started investing to increase the production capabilities to meet the global market's updated demand. Hence, there has been decline in demand of Microcellular Polyurethane Foamfrom industries such as Automotive, Building & Construction, Electronics, Medical, Aerospace and Others. The demand of raw materials from such industries has declined due to COVID and therefore affecting the overall industry. Hence, this industry has been hugely impacted by COVID 19.
Based on the type, the microcellular polyurethane foam market has been classified into high density foam and low-density foam.
High density foam accounted for the highest market share in the global market
The high-density microcellular polyurethane holds the largest share in the market. The high-density microcellular polyurethane has a significant share of the worldwide, due to the widespread use of high-density microcellular polyurethane foam in upholstery, car seats, and bedding. Moreover, high-density closed-cell foams are used in the bumper and other protective applications due to their high strength and flexibility whereas open cell structures are used to produce engine covers that are characterized by good sound absorption and thermal engine encapsulation.
Based on the application, the Microcellular Polyurethane Foam Market has been classified into automotive, buildings & construction and others
Automotive segment dominated the Global Microcellular Polyurethane Foam Market in 2019
The automotive, building & construction, medical, aerosapace and electronics segments have contributed a major share to the global microcellular polyurethane foam market. The automotive segment is expected to be the fastest-growing application segment of the market, as microcellular polyurethane foams are widely used in this industry to increase safety, comfort, quality, and visual appeal of vehicles. Moreover, the increasing use of lightweight components in defense aircraft and aerospace is expected to increase the growth of the market for microcellular polyurethane foam due to their durability and flexibility.
Microcellular polyurethane foam also used in automotive industry for automotive gaskets, instrument panels, bumpers and others. It offers properties such as significant weight reduction therefore improving fuel efficiency and environmental performance. Furthermore, Continuous research and development activities which is supported by huge investments will characterize automobile production in the near future. Moreover, Various stringent regulations such as Corporate Average Fuel Economy (CAFE) and EU 2019/631 to control the CO2 emission levels to save the environment will compel manufacturers to opt materials contributing in weight reduction. This will led to the overall growth of product market during the forecast period.
Based on geography, the study analyzes the Microcellular Polyurethane Foam Market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia Pacific leads the global market throughout the forecast period.
Asia Pacific has contributed the highest share in the microcellular polyurethane foam market share due to rising demand from automotive and electronics sectors. Countries such as China, India and Japan are some of the leading countries in terms of global automotive production. Moreover, increasing concerns regarding CO2 emission levels & fuel economy in co-occurrence with favorable government policies & technological progressions are bound to transform regional automotive industry in forecast period. Moreover, Asia Pacific electronics industry is booming owing to rising middle-class population and disposable income levels.
Decreasing prices of electronic products, technology transitions and adoption of high-end electronic devices will increase the pace of regional electronics sector in forecast period. China and Japan were the key markets for microcellular polyurethane foam in Asia-Pacific.
The rise in the number of vehicles is augmenting the growth of market in these countries. In aerospace and defense, microcellular polyurethane foam provides excellent comfort and cushioning during travel. The increase in investments in the defense sector from India and China is expected to drive the market growth during the forecast period. However, the recent developments by various market players in long range electric vehicles and by achieving global safety and quality standards is expected to drive the market in the forecast period. The government support is contributing to the increasing demand for microcellular polyurethane foam market during the forecast period.
The Microcellular Polyurethane Foam Market is highly competitive. The key microcellular polyurethane players who are contributing to the growth of the global market includes SE, Dow Inc., Saint-Gobain, Huntsman Corporation, Evonik Industries, INOAC Corporation, Rogers Corporation, Rubberlite Inc., Mearthane Products Corporation, Kuraray Co., Ltd. And others.
Overview: BASF SE is a German multinational chemical company and one of the largest chemical producers in the world. The BASF Group includes subsidiaries and joint ventures in more than 70 countries and operates six integrated production sites and 390 other production sites in countries such as Europe, Asia, Australia, the Americas and Africa. Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries. Despite its size and global presence, BASF has received relatively little public attention since it abandoned manufacturing and selling BASF-branded consumer electronics products in the 1990s.
Product Portfolio: The company's portfolio comprises Chemicals, plastics, performance chemicals, catalysts, coatings, crop technology, crude oil and natural gas exploration and production
The global microcellular polyurethane foam market report would provide access to an approx. 48 market data table, 45 figures and 272 pages.
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