One-Component Polyurethane Foam Market is expected to reach US$ 6.15 Billion by 2031

Asia Pacific Dominated One-Component Polyurethane Foam Market in 2023  

According to our latest market study on “One-Component Polyurethane Foam Market Forecast to 2031 – Global Analysis – by Raw Material, Application, and End Use,” the market was valued at US$ 3.73 billion in 2023 and is projected to reach US$ 6.15 billion by 2031; it is anticipated to record a CAGR of 6.4% from 2023 to 2031. The report includes the current one-component polyurethane foam market trends and their foreseeable impact during the forecast period. 

In 2023, Asia Pacific dominated the one-component polyurethane foam market share; it would continue to lead the market during 2023–2031. Polyurethane foam's capability to provide superior thermal insulation and effectively seal gaps and cracks has positioned it as a favored choice among builders and developers for a wide array of residential, commercial, and industrial projects across Asia Pacific. Infrastructure development has been a focal point for many governments across the region. Under the Sustainable Development Goals 2030, the Asian Development Bank announced its plans to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation in the region. Investments in large-scale projects, such as transportation networks, energy facilities, and public amenities, have driven the demand for construction materials, along with one-component polyurethane foam.

Global One-Componenet Polyurethane Foam Market Breakdown – by Region

According to the International Trade Administration, China is the world's largest construction market. Overall investment in new infrastructure during the 14th Five-Year Plan period (2021–2025) will reach approximately US$ 4.2 trillion (27 trillion yuan). Despite the drop in new construction in 2021–2022, there are potentially significant opportunities for construction firms focusing on retrofitting old buildings. In addition to the continuous population growth, rising household income levels and the increasing number of people migrating from rural to urban areas favor the proliferation of the residential construction industry in the country. Thus, in terms of revenue, China dominated the one-component polyurethane foam market share. According to the Department for Promotion of Industry and Internal Trade (DPIIT) report, the Indian government has announced its plans to boost the infrastructure and construction services through several policies such as large budget allocation to the infrastructure sector, open FDI norms, and smart cities mission. The report also stated that the real estate industry in India is projected to reach US$ 1 trillion by 2030, along with an increased year-on-year infrastructure Capex by 34% to reach US$ 6.7 million. Further, rapid urbanization in Thailand, Singapore, Indonesia, Malaysia, and New Zealand is fueling construction activities in the Rest of Asia Pacific. The augmented focus on affordable housing by the public and private sectors further contributes to progress in the residential construction industry.

The Chinese government is taking several initiatives to support automobile manufacturers in enhancing the production capacity of the country to 35 million units of vehicles by 2025. According to the 2022 report by the International Energy Agency, China recorded electric vehicle sales of 3.3?million in 2021. This rising demand for electric vehicles is accelerating the one-component polyurethane foam market growth. Moreover, the growing automotive industries in these countries drive the demand for one-component polyurethane foam for applications such as noise insulation, vibration damping, and sealing. As the automotive sector continues to expand, driven by rising disposable incomes and increasing vehicle ownership, the demand for high-performance materials such as polyurethane foam is expected to surge. Additionally, the electronics and packaging industries across countries in Asia Pacific are witnessing significant growth, driven by the increasing adoption of electronic devices and e-commerce activities.

As the region continues to witness an increase in automobile production and sales, there is an increasing demand for vehicles equipped with advanced soundproofing and vibration-damping features. According to the International OICA, Asia-Oceania's vehicle production increased from 50 million in 2022 to 55.1 million in 2023. Thus, all these factors are propelling the one-component polyurethane foam market size in Asia Pacific.

Global One-Componenet Polyurethane Foam Market: Trends

One-component polyurethane foam offers several advantages that align with sustainable goals. It is highly energy-efficient, providing superior thermal insulation properties that help reduce the heating and cooling costs of buildings. By improving the energy efficiency of structures, polyurethane foam contributes to lower carbon emissions and reduced reliance on fossil fuels for heating and cooling, thereby supporting environmental sustainability efforts.

Moreover, advancements in polyurethane foam formulations have led to the development of eco-friendly alternatives that use bio-based or recycled materials as feedstocks. These bio-based and recycled polyurethane foams offer comparable performance to traditional petroleum-based foams while reducing reliance on finite fossil fuel resources and mitigating the environmental impact of production. Additionally, these sustainable formulations help address concerns about waste management and contribute to the circular economy by utilizing renewable or recycled materials in foam production. Furthermore, the versatility of one-component polyurethane foam extends its applicability to green building practices and sustainable construction projects. Builders and developers increasingly incorporate polyurethane foam insulation into green building designs to achieve energy-efficient and environmentally friendly buildings that meet green building certifications such as Leadership in Energy and Environmental Design or Building Research Establishment Environmental Assessment Methods. The use of polyurethane foam in green buildings enhances energy efficiency and improves indoor air quality, occupant comfort, and overall building performance while aligning with sustainability objectives. Thus, the rising demand for sustainable and environmentally friendly foam is likely to bring in new trends, which would, in turn, foster the one-component polyurethane foam market growth across many industries.

Henkel AG & Co KGaA; Sika AG; The Dow Chemical Co; BASF SE; Huntsman Corp; Industrial Products LTD.; Selena Group; BOSTIK BENELUX B.V. (Den Braven); Tremco CPG Inc; and Soudal Group are among the key players profiled in the one-component polyurethane foam market report.  

The one-component polyurethane foam market is segmented as follows:

The one-component polyurethane foam market analysis is based on raw material, application, end use, and geography. Based on raw material, the market is segmented into methylene diphenyl diisocyanate, toluene diisocyanate, polyether polyols, polyester polyols, and others. By application, the market is categorized into construction, insulation, packaging, automotive, and others. In terms of end use, the market is bifurcated into residential and commercial. The scope of the one-component polyurethane foam market report focuses on North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).    

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