The Polyols Foam Market is expanding due to demand in building insulation and global market players. China and APEJ are key regions.
According to the most recent study published by Fact.MR, the sales of over 508,661 Adhesives foam cans were recorded in 2018, worldwide, and it is expected to increase by 5% in 2019 over 2018. The Fact.MR study provides a thorough analysis on developments in the one component foam market to predict future prospects of the market. The Fact.MR study presents a detailed assessment on global growth parameters of one component foam market along with information about how local markets for one component foam will grow in the foreseeable future.
As per Fact.MR – a market research and competitive intelligence provider, the global one component foam industry analysis reveals that the market was valued at US$ 3 Bn in 2020, and is predicted to expand at a CAGR of 6% over the 2021-2031 forecast period.
One component formulation of polyurethane foam, which is manufactured by reacting polyols and diisocyanates, is referred as one component foam. One component foam is widely used in several end-use industries such as building & construction, fire retardants, and consumer goods. Sealing foam is also employed for filling gaps in pipes and outdoor vents. It is largely used for the prevention of air passage through a small space.
Increase in demand for superior-quality adhesives with insulating properties in the construction industry and rise in popularity of self-hardening and self-expanding sealing are anticipated to boost demand for Polyether foam over the coming years.
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China continues to hold huge potential for sales of one component foam. Being one of the leading polyurethane producers, manufacturers benefit from the consistent supply and steady prices of raw materials in the country. Additionally, vigorous rise of the industrial sector, in parallel to the improving economic conditions in China, has been paving lucrative avenues for the one component foam manufacturers to bank on. In the coming future, Chinese manufacturers of one component foam are aiming to offer more sustainable and energy-efficient products to further expand profitable sales while syncing with the dynamic preferences of end-users.
Recent trends in the one component foam market in China indicate a palpable shift towards environmentally sustainable one component foam as the polyurethane foam industry released harmful gases and HCFC agents in the environment.
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The possibility of the government banning polyurethane foams is coaxing one component foam manufacturers in the country to modify their salient strategies and adopt environmentally friendly, albeit less profitable, manufacturing processes.
APEJ to be a Lucrative Region for Filling Foam Market Stakeholders
The study finds Asia Pacific region excluding Japan (APEJ) to be the fastest growing market for one component foam, with significant hold of emerging economies in the region on recent developments. The APEJ region alone accounts for over one third of the global sales of one component foam, and it will continue to be the largest market for one component foam in the upcoming years, according to the study.
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China and India are among the most attractive countries for stakeholders in the one component foam market owing to the availability of raw materials and high consumption of one component foam, which is attributed to the increasing growth of the end-user industries. Rapidly growing production of polyurethane in the region, especially in China, boosts availability of raw materials and enables manufacturers to launch one component foam at competitive prices.
The Fact.MR report analyzes various trends and other microeconomic factors that can influence growth prospects of the one component foam market in the upcoming years. Based on the thorough analysis, the study predicts that the one component foam market will grow at a healthy 5.2% CAGR during the period 2019-2027.
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The article discusses the growth of the Polyols Foam Market driven by demand for building insulation and global market players.
China is a leading polyurethane producer, benefiting from steady raw material prices and industrial growth.
There is a shift towards sustainable foam due to harmful gases released by traditional polyurethane foam.
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