The market research firm MarketsandMarkets projects that the PU foam market size will grow from USD 46.05 billion in the year 2015 to USD 74.24 billion by 2021, at a CAGR of 8.4 %.
The market is forecast to witness high growth as a result of the growing end-use industries, such as building and construction, bedding and furniture, electronics, automotive, packaging, and footwear; as well as the rising demand from emerging countries, such as China. In 2015, the building and construction segment accounted for the largest share by end-use industry. However, the bedding and furniture segment is expected to account for the largest market share by 2021.
Spray foam is projected to be the fastest-growing type segment due to its increasing applications across industries. As far as region goes, the Middle East is forecast to be the fastest growing in the global PU foam market. This is because of the region’s large building and construction industry. Asia-Pacific is projected to have the largest market share and dominate the global PU foam market from 2016 to 2021. Growth in this region is driven by the growing building and … .
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