Forecast for Polyurethane Foam Market Demand and Growth Rate, 2024-2032

The global polyurethane foam market is witnessing robust growth, driven by expansions in the building industry, increasing demand from the furnishing sector, and widespread application of flexible and semi-rigid polyurethane foams in residential and commercial construction.

According to a recent study by strategic consulting and market research firm Report Ocean, the polyurethane foam market was valued at USD 42.9 billion in 2021 and is projected to grow at a CAGR of 7.40%, reaching approximately USD 70.1 billion by the end of 2028. Key drivers include the expanding building sector, where polyurethane foam is extensively used for insulation, flooring, waterproofing, and air sealing. However, the market faces challenges such as high raw material costs, which could potentially hinder growth.

The global polyurethane foam market is segmented by density composition into low-density, medium-density, and high-density foams. High-density polyurethane foams, favored for their industrial-grade strength and resilience under pressure, dominate the market share. These foams find widespread use across industries such as building and construction, where their durability and insulation properties are highly valued.

Source: Taiwan News