Market Overview:

The Rigid Polyurethane Foams Market size is estimated to reach $14 Billion by 2030, growing at a CAGR of 5.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, Rigid Polyurethane Foams Market – By Raw Material (Polyols and Diisocyanates), By Application (Insulation, Refrigerated Truck & Transportation, Food processing units, Cold storages & Cold rooms, and Others), By End User (Insulation, Refrigerated Truck & Transportation, Food processing units, Cold storages & Cold rooms, and Others) By Geography – Global Opportunity Analysis & Industry Forecast,  2024-2030”.

Rigid Polyurethane Foams Market: Key Takeaways

Asia-Pacific region held the largest share:

The Asia Pacific region held the largest share with 42% in the rigid polyurethane foams market in 2023 and is estimated to grow during the forecast period 2024-2030, the region benefits from rapid urbanization, increasing construction activities, and the rising demand for energy-efficient insulation solutions. Countries like China, India, and Japan are major contributors due to their expanding manufacturing sectors and robust infrastructure development. Additionally, the growing need for thermal insulation in the automotive and refrigeration industries further fuels market growth. The region also experiences a shift toward environmentally friendly products, with manufacturers focusing on sustainable and low-GWP (Global Warming Potential) formulations. This combination of industrial expansion, demand for energy efficiency, and eco-friendly innovations positions Asia-Pacific as a key market leader in rigid polyurethane foams.

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Scope of the Report: 

Report Metric 

Details 

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

5.6%

Market Size in 2030

$14 Billion

Segments Covered

By Raw Material, By Application, By End User, By Geography

Geographies Covered

North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa).

Key Market Players

  1. The Dow Chemical Company

  2. Huntsman Corporation

  3. BASF SE

  4. Covestro AG

  5. JSP Corporation

  6. Sealed Air Corporation

  7. Armacell International S.A

  8. Zotefoams Plc

  9. Woodbridge Foam Corporation

  10. Borealis AG  


Recent Developments:

  •  There is a significant shift toward using low-global warming potential (GWP) blowing agents in the production of rigid polyurethane foams. These agents, such as hydrofluoroolefins (HFOs), minimize environmental impact while maintaining the foam’s thermal performance and durability.
  •  Manufacturers are increasingly focusing on sustainable production processes and bio-based polyurethane foams to address environmental concerns. For instance, several companies are using renewable resources, such as soy-based polyols, to reduce reliance on petroleum-derived inputs.
  •  The rise in e-commerce and global trade of perishable goods has driven demand for rigid polyurethane foams in cold storage and refrigeration. High insulation efficiency and thermal stability make these foams ideal for maintaining consistent temperatures across the cold chain logistics sector.
  •  Companies like BASF, Covestro, and Huntsman Corporation are actively engaging in mergers and acquisitions to expand their market presence and product portfolios. For example, Huntsman’s acquisition of Icynene-Lapolla (2020) strengthened its insulation product line.

Rigid Polyurethane Foams Market: Competitive Landscape

Key companies profiled in the Rigid Polyurethane Foams Market are:

1. The Dow Chemical Company
2. Huntsman Corporation
3. BASF SE
4. Covestro AG
5. JSP Corporation
6. Sealed Air Corporation
7. Armacell International S.A
8. Zotefoams Plc
9. Woodbridge Foam Corporation
10. Borealis AG  

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

Contact Us:

Mr. Venkat Reddy
IndustryARC
USA: (+1) 518-282-4727