Focus on Sustainability and Reducing Carbon Emissions Driving Widespread Use of Eco-friendly Two Component Foam in Construction: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, June 24, 2024 /EINPresswire.com/ -- The global two component foam market, as assessed by Fac.MR, has been valued at US$ 6.2 billion for 2024 and is projected to expand at a CAGR of 5.5% from 2024 to 2034.

Two-component foam is created when two organic materials react with each other. The use of polyurethane foam in refrigerators improves energy efficiency. It is also used in the construction sector to increase the energy efficiency of buildings. Two-component foam helps improve the speed and fuel usage of automobiles. These benefits contribute to the reduction of carbon emissions.

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Long-term growth outlook for the global two component foam market appears promising, driven by various factors. These include increasing adoption of green building practices, potential utilization in the automotive sector, and the rising prominence of polyisocyanurate (PIR) foam in construction, all of which are forecasted to fuel demand in the foreseeable future.

Key Takeaways from Market Study:

The global two component foam market is projected to expand at 5.5 % CAGR and reach US$ 10.7 billion by 2034-end. Top market players include BASF SE, Bostik, Castelein Sealants, DAP Global Inc., Den Braven Sealants, Dow Inc., Henkel AG & Co., Selena Group, Sika Group, and Soudal Group.

Use of polyurethane (PU) foam is projected to increase at a CAGR of 5.9% through 2034. The market in China is projected to reach a valuation of US$ 1.6 billion by the end of the year 2034. Sales of two component foam are forecasted to increase at a CAGR of 3.6% in the United States.

“Adoption of two component foam is being fueled by its versatility and attributes such as durability, insulation properties, and ease of application, catering to a diverse range of industries,” says a Fact.MR analyst.

Country-wise Insights:

Which two components of the foam market are the most important in North America?

"Focusing on Boating Technology Advancements and Increasing Boating Participation as Sport"

Because polyurethane effectively seals boat hulls against water, corrosion, weather, and drag-inducing components, it plays a significant role in improving boating technology. It also acts as protection against noise and extremely cold temperatures. In North America, boating is a popular activity.

There are 100 million boat racing competitors each year, according to the National Marine Manufacturers Association, and the number of enthusiasts is rising. In North America, the market for two-component foam is being driven by these factors.

For manufacturers of two-component foam, why is China a lucrative market?

"High Production Capacity of Foam and Emphasis on Energy-Efficient Building"

The Chinese market is expected to reach US$ 1.6 billion by the end of 2034, up from an anticipated US$ 836.9 million in 2024. China is becoming a larger producer of two-component foam, particularly polyurethane. The largest source of raw materials and finished polyurethane goods worldwide is found in China. Two-component foam is utilized in the creation of sports shoe bottoms, cushions, and bedding.

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China is the world's biggest exporter of shoes, per a World Bank research.

By facilitating energy-efficient building, China's "Dual Carbon Goal," which aims for carbon neutrality by 2060, would propel the development of the clean energy sector. This is creating profitable opportunities for Chinese producers of two-component foam.

Competition Landscape:

Henkel and Domestic unveiled a cutting-edge polyurethane sealer on January 16, 2024, as a way to cover the window frames of minibuses, caravans, and RVs. It is anticipated that the invention would give the business a competitive advantage.

To enhance the functionality of polyurethane, BASF introduced Irgastab^® PUR 71, a state-of-the-art antioxidant, on December 12, 2023. The solution can benefit different sectors with specific application benefits. According to strict rules in the automotive industry, it guarantees lower emissions. It is anticipated that this innovation will provide the organization a long-term competitive advantage.

To meet the rising demand for sealants, Dow said in 2022 that it will expand its global production.

Market Growth Strategies:

Companies are more focused on product adaptability, excellence, and eco-consciousness. Companies are customizing the product as per the end users like construction, automotive, and packaging industry's requirements. Priority is placed on exceptional functionality, user-friendliness, and ecological responsibility, distinguishing brands within a competitive environment.

As demand for two-component foam is rising each year, companies are planning to expand their business by increasing the production capacity of manufacturing plants. Also, collaboration and acquisition are done to keep up with consumers’ changing preferences.

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