The pandemic is predicted to have a significant influence on the Global Colored PU Foam Market

  The global Colored PU Foam Market is expected to increase at a CAGR of 7.5 percent from 2020 to 2025, from USD 37.8 billion in 2020 to USD 54.3 billion in 2025. Growing end-use sectors such as bedding & furniture, electronics, automotive, and building & construction in emerging economies such as India, Thailand, and others are the primary drivers of the Colored PU Foam Market.Other factors driving the growth of the Colored PU Foam Market include rising use of polyurethane foams in building insulation for energy saving, adaptability, and unique physical features of polyurethane foams.


COVID-19 Impact on the Global Colored PU Foam Market

    The pandemic is predicted to have a significant influence on numerous aspects of the polyurethane foam value chain, which will be reflected during the forecast period, particularly in 2020. The following are some of COVID-19's effects:

    Impact on raw materials: The global implementation of COVID-19 lockdowns resulted in a considerable drop in MDI demand from March to June 2020.

  • The key customers in Asia Pacific either cancelled or postponed their advance orders. The decline in demand for MDI in Europe was largely due to a drop in demand for polyurethane foams from the automobile sector.

The outbreak and spread of COVID-19 has resulted in a TDI scarcity in important places around the world. The majority of polyurethane manufacturers have ceased operations, and many countries have closed their ports, preventing goods transportation. As a result, numerous TDI orders have been cancelled.

  • Impact on polyurethane foam manufacturers: As a result of the COVID-19 outbreak, the majority of polyurethane foam production factories in Europe have either closed or are operating at a reduced capacity.
  • Influence on end-use industries: The COVID-19 is expected to have a diverse impact on the construction industry in different parts of the world. The building and construction industry in Europe is expected to decrease by 60–70% by 2020. However, China's economy is improving in Asia Pacific, with the construction and automobile sectors in most parts of the country resuming normal operations.

Automotive and bedding and furniture are the other two major end-use industries affected by the COVID-19 epidemic. Due to the spread of COVID-19, practically all automobile facilities in Europe were shuttered until May 2020. In China, however, all vehicle manufacturing plants have reopened.

In the instance of the bedding and furniture business, polyurethane foam manufacturing factories that supply the mattress and furniture industries saw a 30 percent to 90 percent decline in production in April 2020, with much of Europe's retail industry shuttered. Despite the fact that online sales of mattresses and furniture increased, they were not enough to compensate for sharp declines in demand.

Colored PU Foam Market Dynamics

Driver: Polyurethane foams are being used more frequently in building insulation to save energy.

Polyurethane foams are utilised in a number of building items and other applications as insulation, adhesives, sealants, and binders. Polyurethane foams are highly flexible materials that assist cut total infrastructure costs by lowering building energy consumption. They allow architects to better insulate buildings, resulting in lower gas, oil, and electricity usage.

Restraint: Polyurethane foam manufacturing is subject to stringent environmental laws.

The strict environmental restrictions created by the US Environmental Protection Agency (EPA) for new and existing plant sites engaged in the manufacturing of flexible polyurethane foams are a key limitation on the growth of the Colored PU Foam Market.

 

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