According to the most recent study published by Fact.MR, the sales of over 508,661 one component 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.
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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 One Component 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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