Closed Cell Polyurethane Foam Market size is forecast to reach $934.67 million by 2025, after growing at a CAGR of 7.52% during 2020-2025. Closed Cell Polyurethane Foam due to its versatility, easy adaptability for freedom of design and affordability is used in various end use industries such as electronics and marine industry. With the increasing use of polyurethane foam in the automotive industry owing to their excellent features such as ease of installation, minimal weight, fire resistance, thermal resistance, and low cost, the demand for Closed Cell Polyurethane Foam Industry is estimated to rise in the forecast period.
Type – Segment Analysis
Ethylene Propylene Diene Monomer (EDPM) is extensively used in Closed Cell Polyurethane Foam Market due to the excellent electrical insulation and water resistance properties. EPDM does not deteriorate over time due to its chemical composition, and thus has an impressive lifetime relative to other materials. Ethylene Propylene Diene Monomer (EPDM) is a material that can be used in a variety of applications such as automotive vehicle windows, refrigerators, tubes and hoses. Also, there is extensive use of Ethylene Propylene Diene Monomer (EPDM) synthetic rubber as seals and insulators in residential and commercial buildings for applications such as doors, radiators and windows. It also has a resilient design, which means the material can act as a sealant.
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Polyurethane Type- Segment Analysis
Flexible Polyurethane Foam held the largest share in the Closed Cell Polyurethane Foam Market in 2019. Flexible Polyurethane has various properties such as durability, resiliency energy absorption, and handling strength. Due to these properties, it is used in a wide variety of consumer and commercial products including carpet cushion, furniture, bedding, transportation, packaging, textiles and fibers. Also, flexible polyurethane foams provide support and comfort owing to which it is used in flexible polyurethane foam cushions, upholstered furniture, office chairs, stadium seating and auditorium seating. Chemical blowing agents are also used to produce vinyl foam for improved foot comfort under the carpet. As flexible polyurethane foam extends the life cycle extension of cushions it is projected to increase in the forecast period.
End Use – Segment Analysis
Automotive Sector held the largest share in the Closed Cell Polyurethane Foam Market in 2019 and is projected to grow at a CAGR of 5.54% during the forecast period 2020-2025. Polyurethane is a polymer commonly used in vehicle production in the automotive industry. Owing to its superior comfort and due to its reduced material density, Closed Cell Polyurethane Foam is mostly used in vehicle seating and is highly durable. Since vehicles are associated with fuel consumption and due to the lightweight characteristics of the polyurethane foam; it greatly reduces vehicle weight and thus significantly improves vehicle emissions and boosts the Closed Cell Polyurethane Foam Market. Automotive foams are used as optimal insulators with low heat transfer properties; toughness and softness in automotive foams provide extra comfort for passengers, growing customer preference for polymer foams in vehicles and supplier approval for commercial vehicle automotive foam products are the other factors driving the demand for automotive Closed Cell Polyurethane Foam in Asia. Due to COVID-19 palindrome, there was a sudden decrease in the automotive industry. According to the International Organization of Motor Vehicle Manufacturers (OICA) the production of vehicles in 2019 in China decreased by -7%, in India, it decreased by -12% and in South Korea by -1%. It is estimated that after the decrease of COVID-19 palindrome, the production of automotive is going to rise again in the forecast period.
Geography- Segment Analysis
Asia Pacific held the largest share with 46.25% in 2019 in Closed Cell Polyurethane Foam Market due to an increase in the automobile sector. In manufacturing industries such as instrument panels, seats, door panels, headliners, water filters, gaskets, seals, Noise-Vibration and Harshness (NVH) solutions and others, automotive foam is widely used. The rising disposable income and urbanization of the customer in Asia have seen a major increase in the automotive and automotive foam products industries. China is Asia’s leading user of automotive foams due to the rapid growth in the manufacture of heavy commercial vehicles and passenger cars in the automotive industry. According to the International Trade Administration, China is the largest vehicle market in the world, with the Chinese government expecting car production to reach 30 million units by 2020, and 35 million by 2025. In 2018, China’s specialty auto parts industry reached around $3.5 million, showing an annual growth rate of about 30%.
Drivers –Closed Cell Polyurethane Foam Market
Increasing use in electronics
Closed Cell Polyurethane Foam is commonly used in the electrical and electronics industries to encapsulate delicate, pressure-sensitive, microelectronic parts, underwater cables and circuit boards with seals and isolates. Demand for the electronics sector is driven by macro factors such as the emergence of new products and the rise of advanced electronics technologies. Additionally, declining electronics costs and the adoption of high-end technology products led to an increase in the consumption of electronics devices. Many of them include hard disks, cameras, mirrors, lights, recording systems, microphones, and sensitive electronic components. According to Digital India, Demand for electronic goods is increasing with a Compound Annual Growth Rate (CAGR) of 22% and is expected to touch 400 Billion USD by 2020. The Indian government also takes several measures to encourage manufacturing and investment in this field, which puts India high on the list of potential places to invest.
Increasing use of polyurethane foam in Marine Applications
Closed cell polyurethane foam sheets are important in marine applications because of their attractive property as they do not allow ingress of water, air, chemical, and are dense and therefore strong. A sealant is used for hatch yachting. The hatch door is the part of the yacht that divides the upper deck from the lower deck and is essential to protecting the boat’s interior. The seal that surrounds pads and protects the hatch must be robust with high recovery characteristics to withstand the pressure of the hatch. High-density natural Ethylene Propylene Diene Monomer (EDPM) closed-cell foam provides an excellent comprehensive seal. The extended closed-cell polyurethane provides a high degree of adhesion to the inner surfaces of the hull. Due to this feature as well as to its structure, it welds the contour between the hull and the deck. Closed-cell polyurethane foam has high values of stiffness which allow the hull to be more resistant to impacts.
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Challenges –Closed Cell Polyurethane Foam Market
Hazards of Polyurethane Foam
Polyurethane Foam consists of two chemicals an isocyanate and a polyol plus additives and catalysts. Both isocyanates and polyols emit heat and vapor when mixed to form polyethylene. They cause irritation and sensitization. Vapors and aerosols released during and after chemical mixing up to the time the polyurethane is cured can cause asthma, lung damage, and other breathing and respiratory issues, irritation of the skin and eyes and cancer. It takes about 23 to 72 hours for polyurethane to cure. The Environmental Protection Agency has personal safety guidelines for those who work with or are exposed to polyurethane vapors. In 2013, the Occupational Health and Safety Administration introduced a new policy to protect employees from isocyanate exposure. According to the Environmental Protection Agency (EPA), a flexible polyurethane foam fabrication facility is listed as a major source of hazardous air pollutants (HAP) emissions.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Closed Cell Polyurethane Foam Market. Major players in the Closed Cell Polyurethane Foam Market are 3M, Armacell International S.A, Basf Se, Bayer Ag, Cellofoam North America Inc., Huntsman International LLC., Lapolla Industries, Inc., Ramfoam Ltd, Sekisui Chemical Co., Ltd, Wisconsin Foam Product among others.
In September 2019, Demilec, Inc., a subsidiary of Huntsman Corporation and one of the leading manufacturers of open- and closed-cell polyurethane spray foam (SPF) insulation and coatings in North America, today announced the launch of several spray foam insulation products for the Middle East market and the opening of its Spray Foam Technical Application and Training Center in Dubai.
In October 2015, Huntsman Corporation launched a new TEROL 649 aromatic polyester polyol. This product has enhanced solubility, improved fire performance, compatibility with new blowing agents, and flame-retardant features. It is used to develop rigid foam systems and spray polyurethane foam. This development strategy enabled the company to enhance its portfolio of polyurethane foam products.
APAC dominates the Closed Cell Polyurethane Foam Market owing to an increase in automobiles such as in light commercial vehicles, heavy commercial vehicles and two-wheeled vehicles.
Closed Cell Polyurethane Foam uses the suspended bubbles in a polyurethane matrix as the open form but the bubbles are filled with a blowing agent. The blowing agent provides a more effective thermal barrier than air, which drives the market growth due to its advantages.
Increasing use of Closed Cell Polyurethane Foam in electric vehicles where metal has traditionally been used in the design is now used as a durable, lightweight alternative in exterior cladding, roofs and hoods.
Due to the lockdowns to tackle the Covid-19 outbreak, the automotive industry expects a loss of about 750,000 units in production and $2 billion in revenue in 2020-2021.
Related Reports :
A. EPDM (Ethylene Propylene Diene Monomer) Market
B. Polyvinyl Chloride (PVC) Resin Market
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