Microcellular Polyurethane Foam Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Microcellular Polyurethane Foam Market Analysis
The market for microcellular polyurethane foam is expected to grow at a CAGR of over 4% globally during the forecast period. The major factor driving the market is the increasing demand from the building and construction industry. On the flip side, stringent environmental regulations and the unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The automotive industry is expected to dominate the global microcellular polyurethane foam market over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Microcellular Polyurethane Foam Market Trends
This section covers the major market trends shaping the Microcellular Polyurethane Foam Market according to our research experts:
Growing Demand from the Automotive Industry
- Microcellular polyurethane foam is widely used in the automotive industry and is expected to grow rapidly during the forecast period.
- Microcellular polyurethane foams serve a greater purpose in the automotive industry owing to their lightweight as they are used for a variety of purposes such as sealing, gaskets, weatherproofing, cushioning and vibration control.
- In the automotive sector, apart from engine covers, polyurethane foams are used in seating for comfort as well as cushioning and car bodies to provide insulation against heat and noise of the engine.
- High-density closed-cell foams are used in the bumper and other protective applications because of their high strength and flexibility whereas open cell structures are often used to produce engine covers that are characterized by good sound absorption and thermal engine encapsulation. While the part has an open-cell foam structure on the bottom surface and can absorb a lot of energy because of the open-cell foam structure, the material on the front side forms a coherent skin with an attractive surface appearance.
- Global automotive production is currently on the decline with a decrease in production in 2018 and 2019. But, with the growing advancements to decrease the weight of automobiles, the usage of microcellular polyurethane foams has been growing. Over the forecast period, the automobile production is expected to be stabilized with a considerable in production expected.
- Hence, owing to the above mentioned factors, the demand for microcellular polyurethane foams from automobile segment is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for microcellular polyurethane foam during the forecast period as a result of the increase in demand from the automotive and aerospace & defense industry in countries like India, and China.
- Microcellular polyurethane foam is widely used in aerospace and defense to provide excellent comfort and cushioning during travel. In 2019, China has allocated around USD 177.61 billion for military and defense sector.
- Furthermore, in the union budget 2019-20, India allocated about USD 61.96 billion for the developments in the defense sector. The increase in investments in the defense sector from India and China is expected to drive the market growth during the forecast period. The increasing use of lightweight components in aerospace and defense aircraft is expected to drive the market for microcellular polyurethane foam because of their durability and flexibility.
- In India, the automotive production has declined in 2019 by about 12.2% reaching a total of about 4,516,017 vehicles. However, the recent developments in long range electric vehicles and by achieving global safety and quality standards is expected to drive the market in the forecast period.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for microcellular polyurethane foam market during the forecast period.
Microcellular Polyurethane Foam Industry Overview
The global microcellular polyurethane foam market is partially fragmented with players accounting for a marginal share of the market. Few companies include 3M, Saint-Gobain, Atlantic Gasket Corporation, Era Polymers Pty. Ltd. and Rogers Corporation.
Microcellular Polyurethane Foam Market Leaders
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3M
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Saint-Gobain
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Atlantic Gasket Corporation
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Era Polymers Pty. Ltd
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Rogers Corporation
*Disclaimer: Major Players sorted in no particular order
Microcellular Polyurethane Foam Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand from Building and Construction Industry
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Stringent Environmental Regulations
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 High-Density
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5.1.2 Low-Density
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5.2 End-user Industry
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5.2.1 Automotive
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5.2.2 Building & Construction
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5.2.3 Furniture & Upholstery
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5.2.4 Electrical & Electronics
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5.2.5 Aerospace & Defense
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5.2.6 Health Care
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5.2.7 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%)/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 3M
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6.4.2 Atlantic Gasket Corporation
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6.4.3 Era Polymers Pty. Ltd.
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6.4.4 General Plastics Manufacturing Company
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6.4.5 Griswold LLC
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6.4.6 Mearthane Products Corporate
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6.4.7 Northstar Polymers, LLC
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6.4.8 Rogers Corporation
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6.4.9 Saint-Gobain
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Microcellular Polyurethane Foam Industry Segmentation
The Microcellular Polyurethane Foam market report includes:
| Type | |
| High-Density | |
| Low-Density |
| End-user Industry | |
| Automotive | |
| Building & Construction | |
| Furniture & Upholstery | |
| Electrical & Electronics | |
| Aerospace & Defense | |
| Health Care | |
| Others |
| Geography | |||||||
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Microcellular Polyurethane Foam Market Research FAQs
What is the current Microcellular Polyurethane Foam Market size?
The Microcellular Polyurethane Foam Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Microcellular Polyurethane Foam Market?
3M, Saint-Gobain, Atlantic Gasket Corporation , Era Polymers Pty. Ltd and Rogers Corporation are the major companies operating in the Microcellular Polyurethane Foam Market.
Which is the fastest growing region in Microcellular Polyurethane Foam Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Microcellular Polyurethane Foam Market?
In 2024, the Asia Pacific accounts for the largest market share in Microcellular Polyurethane Foam Market.
What years does this Microcellular Polyurethane Foam Market cover?
The report covers the Microcellular Polyurethane Foam Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Microcellular Polyurethane Foam Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Microcellular Polyurethane Foam Industry Report
Statistics for the 2024 Microcellular Polyurethane Foam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Microcellular Polyurethane Foam analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Microcellular Polyurethane Foam Report Snapshots
