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Microcellular Polyurethane Foam Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5025818

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.

Key Highlights

  • 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.

Key Market Trends

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.

Competitive Landscape

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.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Demand from Building and Construction Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Stringent Environmental Regulations
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Type
5.1.1 High-Density
5.1.2 Low-Density
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Building & Construction
5.2.3 Furniture & Upholstery
5.2.4 Electrical & Electronics
5.2.5 Aerospace & Defense
5.2.6 Health Care
5.2.7 Others
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Atlantic Gasket Corporation
6.4.3 Era Polymers Pty. Ltd.
6.4.4 General Plastics Manufacturing Company
6.4.5 Griswold LLC
6.4.6 Mearthane Products Corporate
6.4.7 Northstar Polymers, LLC
6.4.8 Rogers Corporation
6.4.9 Saint-Gobain

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M
  • Atlantic Gasket Corporation
  • Era Polymers Pty. Ltd.
  • General Plastics Manufacturing Company
  • Griswold LLC
  • Mearthane Products Corporate
  • Northstar Polymers, LLC
  • Rogers Corporation
  • Saint-Gobain