Closed Cell Polyurethane Foam Market - Forecast(2024 - 2030)

Report Code: CMR 15777 Report Format: PDF + Excel
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.

Report Coverage
The: “Closed Cell Polyurethane Foam Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Closed Cell Polyurethane Foam Industry.

By Type: Ethylene Propylene Diene Monomer (EPDM), Neoprene, Styrene Butadiene Rubber (SBR), Polyvinyl Chloride (PVC) and Others
By Polyurethane Type: Flexible Polyurethane Foam, Rigid Polyurethane Foam, Coatings, Adhesives, Sealants and Elastomers Polyurethane Foam (CASE), Thermoplastic Polyurethane (TPU), Reaction Injection Molding (RIM), Binders and Waterborne Polyurethane Dispersions (PUDs)
By End Use: Automotive, Building and Construction, Electronics, Composite Wood, Furnishings, Marine, Medical and Packaging
By Geography: North America, Asia Pacific, Europe, Middle East & Africa and South America

Key Takeaways
  • 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.

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.

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.

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. 

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Closed Cell Polyurethane Foam Market.In2019, the market of Closed Cell Polyurethane Foam Market has been consolidated by the top five players accounting for xx% of the share. 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.

Acquisitions/Technology Launches
  • 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.

1. Closed Cell Polyurethane Foam Market - Market Overview
    1.1 Definitions and Scope
2. Closed Cell Polyurethane Foam Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by Polyurethane Type
    2.4 Key Trends by End Use
    2.5 Key Trends by Geography
3. Closed Cell Polyurethane Foam Market - Landscape
    3.1 Comparative analysis
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Closed Cell Polyurethane Foam Market - Startup companies Scenario Premium (Premium) 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Closed Cell Polyurethane Foam Market – Industry Market Entry Scenario Premium (Premium) 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Closed Cell Polyurethane Foam Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Closed Cell Polyurethane Foam Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Closed Cell Polyurethane Foam Market – By Type (Market Size -$Million, KT)
    8.1 Ethylene Propylene Diene Monomer (EPDM)
    8.2 Neoprene
    8.3 Styrene Butadiene Rubber (SBR)
    8.4 Polyvinyl Chloride (PVC)
    8.5 Others
9. Closed Cell Polyurethane Foam Market – By Polyurethane Type (Market Size -$Million, KT)
    9.1 Flexible Polyurethane Foam
    9.2 Rigid Polyurethane Foam
    9.3 Coatings, Adhesives, Sealants and Elastomers Polyurethane Foam (CASE)
    9.4 Thermoplastic Polyurethane (TPU)
    9.5 Reaction Injection Molding (RIM)
    9.6 Binders 
    9.7 Waterborne Polyurethane Dispersions (PUDs)
10. Closed Cell Polyurethane Foam Market – By End Use (Market Size -$Million, KT)
        10.1.1 Seats
        10.1.2 Bumpers
        10.1.3 Headline Ceiling
        10.1.4 Doors & Windows
        10.1.5 Others
    10.2Building and Construction
        10.2.1 Roofs
        10.2.2 Walls
        10.2.3 Floors
        10.2.4 Others
        10.3.1 Cables
        10.3.2 Circuit Boards
        10.3.3 Others
    10.4Composite Wood
        10.4.1 Oriented strand board
        10.4.2 Medium-Density fibreboard
        10.4.3 Long-Strand lumber
        10.4.4 Laminated-veneer lumber
        10.4.5 Even Strawboard
        10.4.6 Particle board
        10.5.1 Furniture
        10.5.2 Bedding
        10.5.3 Carpet 
        10.5.4 Others
        10.6.1 Wire & Cable Coatings
        10.6.2 Engine tubing
        10.6.3 Drive Belts
        10.6.4 Hydraulic hoses & seals
        10.6.5 Ship Molding
        10.7.1 Tubing
        10.7.2 Surgical drapes
        10.7.3 Wound dressings
        10.7.4 Injection Molded Devices
        10.8.1 Electronic and Medical Diagnostic Equipment
        10.8.2 Delicate Glassware
        10.8.3 Large Industrial Parts
11. Closed Cell Polyurethane Foam Market - By Geography (Market Size -$Million / KT)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Chile
        11.2.5 Rest of South America
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Spain
        11.3.6 Netherlands
        11.3.7 Russia
        11.3.8 Belgium
        11.3.9 Rest of Europe
    11.4 Asia Pacific
        11.4.1 China
        11.4.2 India
        11.4.3 ANZ
        11.4.4 Japan
        11.4.5 South Korea
        11.4.6 Rest of Asia Pacific
    11.5 ROW
        11.5.1 Middle East
   Saudi Arabia
   Rest of Middle East
        11.5.2 Africa
   South Africa
   Rest of South Africa
12. Closed Cell Polyurethane Foam Market - Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Market Share Analysis (Premium)
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Closed Cell Polyurethane Foam Market - List of Key Companies by Country (Premium) 
15. Closed Cell Polyurethane Foam Market - Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"