Future of Polyurethane and Polyurea Foam Insulation Market?
As Pusmak Makina, we continue to provide information that will facilitate the work of investors who are doing research on investing in the polyurethane and polyurea foam insulation business, have some questions in their minds and are looking for answers to these questions for the future.
Here are some tips we have gathered from the information published by research companies around the world as a result of their research on polyurethane and polyurea foam insulation. We wanted to share it in order to illuminate your path, to answer your questions, to make your decisions with predictions about the future and to facilitate your investment decisions.
According to the results of these studies;
What is the Size of Polyurethane and Polyurea Foam Insulation Market?
The global polyurethane market size was valued at $71 billion in 2020. It is expected to grow at a compound annual rate of about 4% from 2021 to 2028.
What does this mean; For those who are worried about 'will it be a sustainable business', it means 'increasing demand for building insulation will increase and continue to increase during this estimated 7-year period, do not worry, there is no room for worry, focus on your work'.
Do Environmental Factors Have an Impact on Polyurethane and Polyurea Foam Insulation?
In the world, there is a sustainable and wide area in the works of improving, beautifying, developing, and carrying the buildings to a level that will meet the needs of the era by overhauling them with new modern projects. This area is expanding even more as potential environmental impacts become more important. Environmental impacts continue to gain more and more value and meaning day by day. In other words, it clearly says 'by increasing your goals in this area, choose a stronger place for yourself'.
Will the pursuit of energy efficiency affect the polyurethane and polyurea foam insulation demand?
Environmentalist buildings; smart and efficient energy is growing more and more in the construction market due to increasing investments, commercial and residential buildings. These buildings not only offer profitable opportunities, but also their support with environmental and legal regulations is increasing day by day and it is likely to increase in the future.
This means that this sustainable demand structure says that increasing consumer expectations will increase continuously and in a growing amount. That is, don't put your foot on the brake! the car is going, the environment and the state will support this departure with increasing quality and quantity. Then don't think about stopping!
Another very interesting piece of information emerges: What is that information? Increased efficiency in building materials; regulating heating, ventilation and air conditioning and this has led to higher demand for efficient insulation materials to offset the amount of energy lost due to inefficient insulation. Polyurethane foams began to be used as highly efficient insulation materials that save more energy. Do you know what he says? Insulation, quality insulation, efficient insulation, insulation that preserves energy, insulation that provides air conditioning, insulation that protects heat in winter, insulation that keeps the cool inside in summer. Here's your ever-increasing investment: Insulation!
Will the impact of construction continue on polyurethane and polyurea foam insulation demand?
Let's talk from the middle of the book, the answer you're looking for: Yes! Increasing product demand in the automotive, construction and packaging industries will drive the market over the forecasted next 7 years. The construction industry will expand significantly due to increased demand and budget for commercial real estate, corporate buildings and public works. Continuing construction projects with these new public projects are expected to further increase the demand for polyurethane and polyurea products in construction applications. So, there is an endless demand!
How will the demand for polyurethane and polyurea foam insulation be affected by the Covid 19 pandemic?
The answer to this question is; 'it will be very positively affected.' In particular, after the Covid 19 pandemic process, each country brought to the fore the development of hospital buildings, health institutions, vaccine centers, test clinics, roads and other infrastructures, which are expected to increase the global market growth, and included it in its investment plan. For example, the USA has announced that it will invest more than 2 trillion dollars only for healthcare facilities. It should be noted that this accelerating investment decision for healthcare structures is valid for every country.
Which product will be at the forefront in polyurethane and polyurea foam insulation?
Let's give the answer from the scratch again: 'Hard foam'. The rigid foam product segment led the market, accounting for close to 35% of global revenue in 2020. Note that rigid polyurethane foams are high-performance closed-cell products used in end-use industries such as shipping, packaging, and industrial insulation. Because of its structural stability, rigid polyurethane foam helps manufacturers design thermally insulating products. Thermal insulator products are also among the locomotives in this field.
For extreme weather conditions and harsh environments as they have sound insulation properties, higher mechanical strength and thermal resistance. The expansion of the construction and furniture industries, combined with the presence of major automotive original equipment manufacturers, has been a major driver of increased demand for rigid foam in Asia Pacific Countries.
Do governments have projects to popularize polyurethane and polyurea foam insulation?
There are important clues about a development that plans to expand the subject of polyurethane and polyurea foam insulation to the very bottom. Government support for air conditioning low-income households and meeting transitional standards for green buildings is spreading globally. Because insulation means air conditioning, reducing energy costs, reducing health expenditures, and breathing in energy-dependent countries.
These realities make it imperative for governments to focus on air conditioning in low-income households, promoting green buildings and insulation. This means that the demand for solid polyurethane foam in insulation applications will inevitably increase .
The furniture and construction industries in Europe have witnessed significant growth with stringent regulatory measures aimed at reducing GHG emission levels. This factor has led to an increase in rigid polyurethane foam investments by regional automotive manufacturers.
What demand does polyurethane and polyurea foam have in Asia Pacific?
Asia Pacific was the dominant regional market in 2020, with polyurethane and polyurea foam accounting for close to 45% of global revenue. The market was driven by the growth of major end-use industries such as automotive, electronics and appliances, packaging, furniture, and interior and construction.
A shift in the manufacturing environment towards emerging economies is expected to positively impact market growth over the 7-year forecast period. Asia Pacific offers lucrative growth opportunities to polyurethane manufacturers and is home to several rapidly growing industries. Do not ignore our proximity to the region and geopolitical advantages!
Foam and other polyurethane products are expected to gain prominence in Asia Pacific due to growing consumer awareness of the sustainability of lightweight and low-cost polyurethane. In addition, increasing demand for furniture products, the need for sustainable infrastructure, and increased construction expenditures are expected to push the direction of product demand upwards. We make use of our proximity to neighboring countries! What do you think?
Major regional actors have strong distribution networks. They are very active and willing to make changes in the product according to regional and country-level changes. These are polyol, methylene diphenyl diisocyanate and toluene. They compete for raw materials used in polyurethane production, such as diisocyanate. Established actors invest in research and development activities to formulate new products to gain competitive advantage over others. One firm has expanded its product portfolio in the electrical and electronics industry by manufacturing and displaying an electronic enclosure made of polyurethane resin that helps cool electronic devices.
How much is the Turnover of Polyurethane and Polyurea Foam Insulation Market 2021?
Polyurethane Market has a market size value of approximately $75 billion in 2021, a revenue forecast of $95 billion in 2028, a growth rate of approximately 5% per year from 2021 to 2028 . Huge numbers, right?
In Which Countries Are Polyurethane and Polyurea Foam Used In The Global Market?
Scope of application; furniture and interior spaces, construction, electronics and tools, automotive, shoes, packaging, mainly uses.
The most important markets; North America, Canada, Mexico, Europe, Germany, France, Russia, Spain, United Kingdom, Asia Pacific, China, India, Japan, South Korea, Central and South America, Brazil, Middle East and Africa, Saudi Arabia.
Key factors driving the polyurethane market include the growing demand for lightweight and durable products in the automotive, construction and electronics industries, and applications of polyurethane for insulation in various end-use industries. It led the global polyurethane market in 2020 among construction applications, automotive, furniture, electronics industry, packaging, footwear, light and durable products, generating a revenue share of close to 30%. Hard foam; Among flexible foam, sheathing, elastomer, adhesive and sealing products, this also pioneered the polyurethane market, creating a revenue share of nearly 35% in 2020.
As Pusmak Makina, we believe that this information will be beneficial for those planning to invest in polyurethane and polyurea foam insulation, and those who want to expand, develop and expand their existing business structure in the field of polyurethane and polyurea foam insulation. Come on, take it easy, be prosperous!
