Polyurethane Foam Market Size, Share & Trends Report

Polyurethane Foam Market Size, Share & Trends Analysis Report By Product (Rigid Foam, Flexible Foam), By Application (Bedding & Furniture, Transportation, Packaging, Construction, Electronics, Footwear), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-807-7
  • Number of Pages: 140
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the polyurethane foam market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for polyurethane foam market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of polyurethane foam market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Polyurethane Foam Market Categorization:

The polyurethane foam market was categorized into four segments, namely product (Rigid Foam, Flexible Foam), application (Bedding & Furniture, Transportation, Packaging,Construction, Electronics, Footwear), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The polyurethane foam market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The polyurethane foam market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-one countries, namely, the U.S.; Canada; Mexico; Germany; U.K.; Italy; France; Spain; Netherlands; Poland; China; India; Japan; South Korea; Australia; Thailand; Indonesia; Brazil; Argentina; UAE; Saudi Arabia

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Polyurethane foam market companies & financials:

The polyurethane foam market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Huntsman Corporation Huntsman Corporation operates as a vertically integrated company with a diverse portfolio of products and solutions. Huntsman has established itself as a trusted provider of innovative chemical solutions with a strong presence in industries such as aerospace, automotive, construction, and consumer goods. Through its vertically integrated model, Huntsman controls various value chain stages, from raw material sourcing to manufacturing, distribution, and customer support. This integration enables them to optimize efficiency, quality control, and cost-effectiveness while delivering tailored solutions to meet the unique needs of its customers. Huntsman Corporation's commitment to research & development coupled with its extensive global network positions it as a reliable partner for industries seeking cutting-edge chemical solutions.

  • The Dow Chemical Company The company has segmented its operations into five segments including agriculture sciences, consumer solutions, infrastructure solutions, performance materials & chemicals, and performance plastics. The performance materials and chemicals segment includes chloralkali and vinyl, chlorinated organic, epoxy, industrial solutions, and polyurethanes. Dow Chemical caters its products to various end-use industries including agriculture, automotive, building & construction, consumer, energy & water, electronic materials, infrastructure, packaging, and product safety.

  • BASF SE BASF SE is one of the global chemical companies operating across multiple verticals, including automotive, construction, and agriculture. With a diverse portfolio of chemicals, plastics, coatings, and agricultural solutions, BASF delivers innovative and sustainable products to meet the specific needs of its customers. BASF manages the entire value chain through its vertically integrated operations, from raw material sourcing to production and distribution, ensuring quality control and efficient delivery of its solutions.

  • Sekisui Chemical Co., Ltd. Sekisui Chemical Co. Ltd. operates across multiple verticals, including housing, infrastructure, and industrial applications. Moreover, the company's comprehensive range of innovative products provides solutions such as insulation materials, building products, and high-performance plastics. Its product portfolio includes manufacturing, construction, and sale of unit housing land for subdivision, provision of reform services, interior items, exterior items, real estate vinyl chloride pipe and fittings, polyethylene pipe and fittings, system pipe, water conduit materials, building materials intermediate films for laminated glass, foamed polyolefin, tapes, particulate for liquid crystal & sensitive materials, and test drug.

  • Trelleborg AG Trelleborg AG is one of the global leading companies in engineered polymer solutions, operating across diverse verticals including automotive, aerospace, and industrial applications. With a wide range of innovative products, Trelleborg delivers solutions such as seals, bearings, and vibration control components.

  • Future Foam, Inc. Future Foam, Inc. is one of the dynamic players in the foam industry, spanning diverse verticals and catering to a wide range of applications. With a commitment to innovation and customer satisfaction, Future Foam offers a comprehensive portfolio of foam products, including bedding, furniture, and packaging solutions.

  • Elliott Co. of Indianapolis, Inc. Elliott Co. of Indianapolis, Inc. is a prominent player in comprehensive vertical solutions, offering expertise across diverse industries. Moreover, the company delivers cutting-edge engineering solutions for power generation, oil and gas, and petrochemical sectors.

  • Recticel S.A. Recticel S.A. operates four business segments, including insulation, bedding, flexible foams, and automotive. The company's main line of business is to produce semi-finished products, and in some divisions, such as bedding and insulation, it also manufactures finished products and durable goods for end-users. Its product portfolio includes interior solutions, light stable polyurethane raw material, seating pads in cold molded foam, other seating components, side panels for car seats, mattresses, slats and bed bases, beds, sleep systems, and polyurethane foam products.

  • Foamcraft, Inc. The company is in the fabrication of polyurethane foam and cater its products to various end-use markets including residential & commercial furniture, bedding, recreational vehicle, packaging, medical, consumer and marine seating. The company’s operations majorly include highspeed slitting, convolute cutting, die cutting, hot wire cutting, fiber fill, adhesive lamination, and truck fleet. Foamcraft operates four full-capacity fabrication facilities along with a distribution and fulfillment center.

  • UFP Technologies, Inc. UFP Technologies, established in 1963, offers a comprehensive range of customized packaging, components, and specialty foam products. The company caters its products mainly to six markets including medical, automotive, aerospace &defense, electronics, consumer, and industrial. Its product portfolio includes automotive interior trims, medical device components, wound care components, military uniform & gear components, athletic padding, air filtration, high-temperature insulation, abrasive nail files & other beauty aids, and cushion packaging products, collectively categorized under three segments including consumer, medical, and biopharmaceutical.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Polyurethane Foam Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Polyurethane Foam Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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