PUBLISHER: Grand View Research | PRODUCT CODE: 1588710
PUBLISHER: Grand View Research | PRODUCT CODE: 1588710
The global flexible polyurethane foam market is anticipated to reach USD 8.54 billion by 2030 and is anticipated to expand at a CAGR of 6.14% during the forecast period, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increasing emphasis of different industries on energy efficiency, which has fueled the demand for PU foams for usage, such as insulating and cushioning materials in diverse applications. The growing demand for insulation and lightweight composites from the automotive industry are the key factors driving market growth.
The growing focus on enhancing vehicle comfort and safety is likely to drive the market growth. Flexible PU foam plays a significant role in meeting the demand for lightweight composites from the automotive industry. This foam offers an excellent combination of lightweight, strength, and versatility, thereby making it an ideal choice for various automotive applications. By incorporating flexible PU foam in automotive components, manufacturers can reduce the weight of their vehicles that leads to improved fuel efficiency and reduced emissions.
Additionally, the rise in the middle-class population and increased affordability of air travel in regions such as Asia Pacific and the Middle East is leading to a surge in aircraft production and fleet expansion. This is expected to create a need for high-performance materials, such as flexible PU foam, to outfit these new aircraft with durable, lightweight, and comfortable interiors, contributing to the overall market growth.