Published: Apr, 2018
Transparency Market Research has published a new report, on the global rigid polyurethane foam market stating that it has a fragmented landscape with local, regional, and global, established players. The names of the leading players within the market are: Rockwoll International A/S., Kingspan Group plc, Owens Corning, ISOTHANE Ltd., DuPont, Huntsman Corporation, DUNA CORRADINI S.p.A, Covestro, and BASF SE, finds Transparency Market Research (TMR).
The market for global rigid polyurethane foam is anticipated to exhibit a 6% CAGR from 2017 to 2025 and shall be worth US$25.5 bn, in terms of revenue by 2025, as per TMR. On the basis of end user, the market is being led by the building and construction industry both in terms of volume and revenue on account of the high demand for rigid polyurethane foam in factories, retail stores, power stations, commercial spaces, public institutions, telecom shelters, and cold stores. By geography, Asia Pacific is leading and is anticipated to retain its leading position throughout the forecast period.
Energy Efficiency and Durability Making Rigid Polyurethane Foam Popular as Insulation Materials
The growing need for insulation materials for walls and roofs in various forms is behind the rapidly expanding demand for rigid polyurethane foams. The key properties of rigid polyurethane foams that makes them popular for insulation materials are stability, high thermal performance, durability, energy-efficiency, and high mechanical performance. The dire need to reduce heating and cooling costs is propelling the demand for rigid polyurethane foams in construction materials for homes and commercial buildings. The use of rigid polyurethane foams also reduces the cost of installation while giving a good rate of return. These foams are used to build thinner walls with space utilization that is higher, and therefore, they maximize the commercial value of the construction materials.
High Demand from Automotive Sector
The performance of polyurethane foams remains unaffected as they have oil-based waterproofing and this makes them highly useful for making insulation blocks and boards. The ease of fitting and versatility of applications are making them highly popular in the construction and building industry. The growing application of rigid polyurethane foams as thermal insulation material to act as refrigerated containers for road and rail transport is furthering their demand in the automotive sector.
Furthermore, the rising application of rigid polyurethane foams as thermal insulation material to act as refrigerated containers for rail and road transport boost their demand in the automotive industry in various developing and developed nations. They are used in homes for maintaining a uniform temperature, leading to better energy efficiency and savings. Thus the demand for rigid polyurethane foams will continue to rise, boosting the growth of the market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Rigid Polyurethane Foam Market (End User - Automotive, Building and Construction, and Appliances) - Global Industry Analysis, Size, Share, Growth Trends & Forecasts 2017 - 2025.”
The global rigid polyurethane foam market is segmented based on:
- Building and Construction
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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