North America Microcellular Polyurethane Foam Market to be Worth USD 1.53 Billion by 2021, at a CAGR of 4.9%
PUNE, India, May 20, 2016 /PRNewswire/ --
According to the new Market Research Report "North America Microcellular Polyurethane Foam Market: By Type (High Density Foam and Low Density Foam), Application (Automotive, Building & Construction, Electronics, Medical, Aerospace, & Others), & Geography - Forecast till 2021", the North America microcellular polyurethane foam market was valued at USD 1.21 billion in 2016 and is expected to reach USD 1.53 billion by 2021, at a CAGR of 4.9% from 2016 to 2021.
Browse 65 market data tables with 58 figures spread through 116 pages and in-depth TOC on "North America Microcellular Polyurethane Foam Market: By Type (High Density Foam and Low Density Foam), By Application (Automotive, Building & Construction, Electronics, Medical, Aerospace & Others), & By Geography - Forecast till 2021"
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The U.S. accounted for a share of 74.2% of the microcellular polyurethane foam market in North America, in terms of value, in 2015. A number of important producers of microcellular polyurethane foams are based in the U.S., such as BASF SE, Huntsman Corporation, Evonik Industries, The Dow Chemical Company, Roger Corporation, and so on. These companies have a number of domestic and international consumers of their products.
Canada is the second-largest market for microcellular polyurethane foams in North America, while the market in Mexico is estimated to be the second-fastest growing in the region. And this trend is expected to continue in the near future as well. Microcellular polyurethane foams help in reducing structural weight of the products manufactured by various industries.
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There are a lot of growth opportunities in this market for large companies, as well as very small companies specializing in niche markets. However, medium-sized companies are expected to face problems in the future due to price fluctuations of raw materials which would also impact the pricing of microcellular polyurethane foam and, as such, they will either be absorbed by large companies or are expected to merge with other companies.
It has been observed that the consumers in the North American region prefer buying used cars in comparison to new cars. This results in moderate growth of the automotive application segment of the North America microcellular polyurethane foam market during the forecast period. Due to their cushioning properties, polyurethane foams are majorly used in seats, armrests, and headrests of cars. They help reduce fatigue and stress associated with driving. The various properties offered by microcellular polyurethane foams, such as durability and light weight, make them ideal for use in the bodies of cars. Their insulation properties also provide protection against heat and noise caused by engines.
Key Players of North America Microcellular Polyurethane Foam Market includes:
BASF SE, Huntsman Corporation, The Dow Chemical Company, Evonik Industries, Saint-Gobain Performance Plastics, Rogers Corporation, Rubberlite, Era Polymers, Mearthane Products Corporation, and Griswold International, LLC, and others and so on.
By type, the high density foam segment leads the North America microcellular polyurethane foam market. This segment is the largest, in terms of both volume and value. The growth of this segment is driven by the extensive use of microcellular polyurethane foams in upholstery, automotive seating, and bedding applications. On the other hand, the key advantage of low density foams is that they are effective sound barriers, and are also ideal for the manufacturing bespoke insulated panels.
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