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.
Mumbai (Maharashtra) [India], May 27: 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.
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