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Polyurethane foam is a polymer that is made by the reaction between an isocyanate prepolymer and a polyol in the presence of a blowing agent, and an amine.
GCC Polyurethane Foam Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of GCC Polyurethane Foam market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
Market Opportunities
According to MarkNtel Advisors’ research report titled “GCC Polyurethane Foam Market Analysis, 2020”, the GCC Polyurethane Foam market is anticipated to grow at a CAGR of 5% during 2021-26. The major growth factor for the growth of Polyurethane Foam market is the emanating growth of end-use industries for furniture, electronics, building and construction material. Also, the increasing use of building insulations for energy conservation is driving the growth of Polyurethane Foam in GCC market.
COVID-19 Impact on Polyurethane Foam
The lockdown impositions in various countries of GCC such as Saudi Arabia and the UAE has led to the decrease in the supply of raw material and in demand for MDI.
Market Segmentation
Rigid Segment Acquired the Significant Market Share
Based on the type segment, rigid foam is anticipated to lead the market with the highest market share. The growth of the rigid foam is majorly due to the factors such as applications in the form of insulating foams and structural foams used in commercial and residential constructions, coupled with reduced energy costs, which are contributing in the growth. The rigid foams are also used for insulations in various electrical appliances such as water heaters, refrigerators, coolers, vending machines, and freezers, leading to growth of the polyurethane foam market as stated in the MarkNtel Advisors’ research report “GCC Polyurethane Foam Market Analysis, 2020”.
Rise in the Concerns Regarding the Impact of Plastic on Environment
Recently the bio-based polyols are gaining traction in some countries which are used in the manufacturing of polyurethane foams. The growing concerns regarding the use of fossil fuels and impact of plastics on the environment has led to the widespread usage of bio-based polyols. The bio-based polyols are cost-effective and sustainable.
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable market share in the GCC Polyurethane Foam market include BASF SE, The Dow Chemical Company, Trelleborg AB, UFP Technologies, Inc., Huntsman International LLC., Covestro AG, Fritz Nauer AG (FoamPartner), Armacell International SA, Compagnie de Saint-Gobain S.A, Sheela Group, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on GCC Polyurethane Foam Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of GCC Polyurethane Foam Market during 2021-26?
A. The growth rate of GCC Polyurethane Foam Market during 2021-26 is forecast to grow at a CAGR of 5%.
Q. Who are the key competitors or players operating in GCC Polyurethane Foam Market?
A. BASF SE, The Dow Chemical Company, Trelleborg AB, UFP Technologies, Inc., Huntsman International LLC., Covestro AG, Fritz Nauer AG (FoamPartner), Armacell International SA, Compagnie de Saint-Gobain S.A, Sheela Group, etc. are few of the leading players in the GCC Polyurethane Foam Market.
Q. Which type segment would emerge as an opportunity area for players in GCC Polyurethane Foam Market?
A. Rigid segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which country would emerge as an opportunity area for players in GCC Polyurethane Foam Market?
A. UAE grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of GCC Polyurethane Foam Market.
