• 1st
edition of UTECH India - Sustainable Polyurethane & Foam Expo (ISPUF) to be
held at NESCO, Bombay Exhibition Center in Mumbai on 4-6th December 2024.
• The
Indian Polyurethane Foam Market is projected to reach a market value of US$
5.18 billion (approx. INR 43000 crores) by 2031, with a CAGR of 8% between
2024-2031.
• ISPUF
Expo 2024 will showcase cutting-edge advancements across various sectors
including Furniture, Automobile, Engine, Construction, Insulations, Footwear,
Packaging, Chemicals, and more.
Media Fusion and Crain
Communications, leading event organizers, announced India’s first sustainable
Polyurethane & Foam Expo Show slated to take place at NESCO, Bombay Exhibition Center in Mumbai on 4-6th December 2024. This ground-breaking three-day exhibition
and conference will bring together exhibitors and visitors including
manufacturers, suppliers and buyers of sustainable foam and polyurethane
materials, products, technologies & services under one roof. ISPUF serves
as a catalyst, driving the industry towards its goal of reaching a market value
of US$ 5.18 billion (approx. INR 43000 crores) by 2031, fueled by a compelling
CAGR of 8.0% between 2024-2031.
Emphasizing on the growth of
the industry, Mr. Matthew Barber, Global
Events Director, Crain Communications said, “India's fast-growing foam and
polyurethane market, along with its robust construction sector, underscores the
significant potential of the ISPUF Expo. With the construction industry's
market size estimated to reach $1.4 trillion by 2033, the demand for
polyurethane foam is set to surge across key sectors. India's adoption of
sustainable practices and the government's production-linked incentives (PLI)
schemes for industrial manufacturing are further driving the polyurethane foam
market growth. ISPUF Expo fosters dialogue and collaboration for a sustainable
polyurethane industry, offering a platform to explore the latest trends and
innovations in the sector. Building lasting partnerships at ISPUF shapes the
industry's future.”
In line with the event's
focus on sustainability, a roundtable discussion was held on 15th May in
Mumbai, addressing critical issues concerning the construction sector's
adoption of sustainable practices, particularly in utilizing polyurethane
materials. The panelists included Mr.
Vivek Mittal, Executive Director, Deloitte; Mr. Vinod Purohit, Chief Operating Officer, Cannon Indikos
Machineries LLP; Mr. Raman Iyer,
V.P. – Projects, Runwal Developers Pvt. Ltd.; Shri Aniruddha Nakhawa, National Hon. Gen. Treasurer-Elect,
Builders' Association of India; Er.
Tukaram Devkar, Deputy General Manager, Lloyd Insulations; Mr. Mahesh Bangad, Chairman-Architects,
Engineers, & Surveyors Association;
Mr. Sharma Ravikumar, Sustainability Consultant, Conserve Consultant; Mr. James Snodgrass, Editor, Urethanes
Technology; Dr. Shraddha Jadhav,
HOD, Department of Interior Spaces, Vishwakarma University, Pune.
Mr.
Vivek Mittal, Executive Director, Deloitte, said “India's PU foam market is vast, and it's essential
to increase awareness about polyurethane foam insulation. Events like ISPUF
serve as crucial platforms to showcase the benefits of PU foam in construction.
Through live demonstrations, case studies, and expert discussions, people can
witness how PU foam can be effectively utilized in various sectors, including
commercial, industrial, and official buildings.
The roundtable aimed to
address the pressing need for sustainable practices in the construction sector.
Buildings contribute nearly 40% of CO2 emissions, and as India rapidly
urbanizes, there's a growing focus on making buildings more environmentally
friendly. ISPUF brings crucial discussions to the forefront, highlighting how
materials like PU foam can lead to long-term cost savings."
Mr.
Mahesh Bangad, Chairman, Architects, Engineers, & Surveyors Association,
said, “Polyurethane foam finds applications in various sectors
including shoes, wall panels, insulation, and mattresses. Today, it's also used
extensively in the packaging and electronics industries. In construction, PU
foam is effectively utilized to reduce the weight of skyscraper walls, in
warehousing, and for sealing airport roofs and gaps between windows and doors.
PU panels and sheets offer efficient insulation and can be used for cladding,
contributing to environmentally friendly and cost-effective construction. With
faster, more affordable construction methods, PU foam offers not only economic
benefits but also contributes to a greener environment. PU foam currently holds
a small market share in India; however, industry experts are optimistic that
within the next 10 years, it could capture 30-40% of the market, particularly
in fire insulation and other critical applications. The upcoming UTECH India - Sustainable
Polyurethane and Foam Expo from December 4-6, 2024, in Mumbai will provide an
excellent platform to explore PU foam's potential and its role in sustainable
construction practices."
Er.
Tukaram Devkar, Deputy General Manager, Lloyd Insulations, said
“In India, the PU foam market is substantial, and there's a need to raise
awareness about polyurethane foam insulation. We're grateful to Media Fusion
and Crain Communications for promoting this sustainable material. The recent
roundtable aimed to promote sustainable practices in the construction sector,
focusing on setting specifications and standards for PU foam across various
industries. By increasing awareness, we hope to encourage broader adoption of
PU foam insulation. There are a few challenges like the need for greater
acceptance of PU foam insulation and finding cost-effective solutions. It's
crucial to use economic grades of polyurethane foam tailored to specific
application needs.
During the discussion,
successful projects such as the Mumbai International Airport, IKEA buildings,
and various cold storage facilities were shared. These projects effectively
utilized polyurethane materials, reducing energy consumption and operational
costs. Furthermore, by using eco-friendly blowing agents like CFC and HFC-free
options can significantly reduce carbon emissions and contribute to
sustainability efforts."
ISPUF Expo 2024 promises to
unveil the latest sustainable advancements across various sectors including
Furniture, Automobile, Engine, Construction, Insulations, Footwear, Packaging,
Chemicals, and others. As one of the most effective thermal insulation
materials, polyurethane offers huge unrealised potential to reduce the energy
used to heat and cool buildings. Previously seen as harder to recycle than some
other polymer-based materials, more and more commercially viable innovations
are emerging for the mechanical and chemical recycling of polyurethanes. With
rising CO 2 emissions being the fundamental driver of global warming, many
companies are using CO 2 to produce new raw materials for polyurethane.
Bio-based polyols derived from natural raw materials including soya beans,
caster beans and cashew nuts are becoming increasingly available as an
alternative to fossil fuel derived polyols. In the automotive sector,
innovative polyurethane materials are helping manufacturers to enhance vehicle
sustainability and playing a key role in EV battery development.
All these innovations and
more can be discovered at the UTECH India - Sustainable Foam and Polyurethane
exhibition and conference.
Furthermore, the expo will
showcase innovations in product sectors such as Antistatic Foam, Defoamers,
Polyester Foam, Polyether Foam, Spray foam insulation, Specialist foam
packaging, Molds, machinery & handling equipment, Casting & molding
technology, Robotics/materials handling equipment/control systems, Cutting
equipment, and more.
Highlighting the event's
significance, Taher Patrawala, Managing
Director, Media Fusion, said, "With the Indian economy expected to
grow by 6.4% in 2024, the demand for polyurethane foam is set to surge across
key sectors such as construction, packaging, furniture, and footwear. UTECH
India - Sustainable Polyurethane & Foam Expo comes at a crucial juncture,
offering a platform to explore the latest trends and innovations in the polyols
and polyurethane market. As the industry increasingly prioritizes environmental
sustainability and eco-friendliness, ISPUF provides an invaluable opportunity
for stakeholders to engage, collaborate, and drive forward the future of
sustainable foam solutions.”
The ISPUF Expo 2024
presents a golden opportunity for industry stakeholders to explore
groundbreaking innovations, forge strategic partnerships, and drive the foam
and polyurethane industry forward into a new era of excellence.