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.
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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. 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.
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.
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Sealants and Adhesives - Most Popular Applications of One Component Foam
The Fact.MR study provides a holistic assessment on growth of the one component foam market across its various segments. On analyzing the rise in number of applications of one component foam across various industrial sectors, the study finds that one component foam sealants and adhesives are witnessing highest demand. One component foam sealants and adhesives, together, accounted for nearly 75% volume share in the one component foam market in 2018.
One component foam sealants and adhesives are witnessing tremendous demand on account of its simplicity and safety of use, and cost-efficiency. These sealants and adhesives are more vastly used in the construction industry, which has been growing at a rapid pace since the past few years. As one component foam sealants can reduce construction air-tightness to a great extent, which can help industrial end-users to mitigate CO2 emissions through their construction activities. Growing awareness about the extraordinary benefits of using one component foam sealants and adhesives is contributing to their increasing popularity across several end-use sectors.
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However, the Fact.MR study finds that demand for insulation and filling applications of one component foam are likely to rise, which will make a substantial change in dynamics of the one component foam market. With the recent developments in residential as well as industrial and commercial infrastructures, end-users are experimenting with the applications of one component foam to benefit from unique properties of one component polyurethane foam.
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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