For the global polyurethane foam market size, it is expected to reach USD 110.4 billion by 2028. according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 7.3% from 2021 to 2028. Increasing consumption of polyurethane foam due to its rise in demand from the building and construction sector as building insulation for saving energy is a key factor driving the significant growth of the market. In addition to this, it is gaining higher traction owing to its elevated recyclability, reduced wastage, and improved lifecycle of the end product contributing to its increased demand across different end-use industries, thereby fueling the market growth. Moreover, the rise in demand for passenger vehicles and increasing electrification of vehicles are further propelling the market growth.

Key Highlights of Polyurethane Foam Market

· Based on product, flexible foam emerged as the leading segment and contributed the largest share in the market. Increasing demand for the product from the furniture and transportation industries for cushioning applications has turned out as a major booster for the segment's growth.

· By density compositions, the low-density polyurethane foam segment accounted for the huge revenue share owing to its heavy use in diverse industries such as automotive, bedding, and electronics among others due to its higher versatility, durability, density, and quality.

· In terms of end-use, the building and construction dominated the global market for polyurethane foam on account of its wide application scope. The foam is primarily used in the development of buildings to save energy usage, owing to its strength-to-weight ratio and insulation properties.

· The COVID-19 pandemic majorly hampered the building & construction sector due to disruptions caused during the lockdown phase. However, this end-use industry still stands as one of the leading consumers of polyurethane foams due to its huge volume use in the industry.

· GNStwo-component polyurethane foams to support its initiatives to greenhouse gas emissions at the same time delivering sustainable innovation.