Published: Jul, 2018
The global colored PU foams market is anticipated to exhibit a robust growth in the forthcoming years, according to analysts at Transparency Market Research (TMR). The market’s vendor ecosystem is a fragmented one at present, with a large pool of both small- and medium-sized enterprises vying for the leading market position. Developing regions, especially Asia Pacific is rendered to have a large number of market players, and new market entrants are predicted to rise exponentially, on account of the region’s burgeoning automotive, electronics and automotive industries. A number of sellers in this market are seen focusing on the expanding their production capacities and streamlining their operations in order to gain a strategic advantage over their competitors. Key vendors operating in the global colored PU foams market are Huntsman Corporation, The Dow Chemical Company, Saint-Gobain Performance Plastics Corporation, Recticel SA, and Rogers Corporation, among others.
According to projections by TMR, the global colored PU foams market is envisage to reach a market value of US$17.59 b by 2019, rising from US$9.02 bn, as estimated to be in 2012. Over the forecast period of 2013 to 2019, the global colored PU foams market is predicted to rise at a 7.8% CAGR.
Out of the application sectors for colored PU foams, the global market is expected to witness immense uptake be the segment of furniture, interiors and construction. In the coming years, electronics segment is also prognosticated to be a key segment. Geographically, the booming automotive industry in the region is expected to propel Asia Pacific to the forefront. Additionally, BRICS countries witnessing a revolution in the construction industry are expected to fare well in the market.
Booming Construction Activities to Augment Demand for Colored PU Foams
The surge in construction activities a key factor that is anticipated to drive global colored PU foams market over the forecast period. Numerous design features are offered by the product for homes and buildings. In addition, its insulating function for walls emerges makes colored PU foams as an ideal solution for construction projects. Other advantages for homes and building include exceptional durability and excellent fatigue resistance. Environment friendly nature is expected to further enhance overall demand in the future owing to its ability to reduce carbon emission levels.
Bio-Based Raw Materials to Emerge as Key Market Trend
The growth of the colored PU foams market is fuelled by factors such as increased activities in civil construction and due to high demand for efficient foams for packaging, interiors and furniture. However, a possible restraint to the demand of the colored PU foams market is the regulations for environmental protection due to which there are less number of approved chemicals present in the market. Recently, manufacturers have come up with bio-based raw materials for product manufacturing in order to avoid hindrance from petrochemical industry such as lack of supply and higher prices. Rising practice of green buildings and products such as bio-based products offers lot of opportunities for the growth of the market.
Opportunities from Emerging Regions to Provide Lucrative Opportunity
The global colored PU foams market is expanding due to the growth in the construction industry especially in the BRIC countries. Developments in end use industries such as automotive, electronic appliances, packaging and construction has decreased in operating costs resulting into PU foams capacity additions in major countries such as India, China and Japan. Therefore, all these factors are resulted into the highest regional growth over the forecast period.
This review is based TMR’s report titled, “Colored PU Foams Market (Product- Flexible PU Foams and Rigid PU Foams; Application- Furniture and Interiors, Construction, Electronics Appliances, Automotive, Footwear, Packaging, and Sports and Leisure Apparel) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019.”Top of Form
The market is segmented along the following lines:
Global Colored PU Foams Market: Product Segment Analysis
- Flexible PU Foams
- Rigid PU Foams
Global Colored PU Foams Market: Application Analysis
- Furniture and Interiors
- Electronics Appliances
- Others (Including sports and leisure apparel, etc.)
Global Colored PU Foams Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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