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Polyurethane is a polymer composed of organic monomers joined by urethane links. These are available in thermosetting as well as thermoplastic form. Polyurethanes are used to manufacture high resilience foams, insulation panel foams, seals, gaskets, air-filter seals, footwear soles, and other products. Flexible PU foams are soft, light, durable, and have cushioning effect which make them suitable for consumer products like furniture, bedding, carpet cushioning, vehicle interiors and others.
Increasing demand from multiple end-use sectors shall drive the market. The use of flexible PU foams in furniture for bedding and cushioning is expected to hold the largest share in market. Additionally, its used in automobile interiors to enhance the aesthetic properties and comfortability of seats shall create positive impact. Use of colored flexible PU foam in manufacturing of gaskets, seals and other wide range of applications shall drive the market.
However, polyurethane is highly flammable material and releases carbon monoxide and hydrogen cyanide along with nitogen oxides and other toxic chemicals. This is expected to hinder the market growth.
Key Market Driver -
Increasing demand from end-use sectors.
Key Market Restraint -
Based on application, the global flexible colored polyurethane (PU) foams market is segmented into furniture and interiors, construction, electronic appliances, automotive, footwear, packaging, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global flexible colored polyurethane (PU) foams market consists of global & regional players operating. Some of the key players in the market include Covestro AG, BASF SE, Wanhua Chemical Group Co., Ltd., Dow Inc, Huntsman Corporation, Sekisui Chemical Co., Ltd., Saint-Gobain SA, Bayer AG, Lanxess, DuPont, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to be the largest and fastest growing market attributed to the large manufacturing base. Moreover, the lower labor cost shall drive the regional market. North America is expected to show significant growth due to the high expenditure on interiors and furniture. Europe is expected to show considerable growth attributed to the rising demand from automobile sector. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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