European production of flexible slabstock polyurethane (PU) foam fell by 2.7pc to 893,200t in 2024, a smaller drop than expected, according to data released today by industry association Europur.
The decline was less steep than Europur's forecast of a 10pc fall. It also marked a slowdown in the rate of contraction seen in previous years — output dropped by 5pc in 2023 and by more than 10pc in 2022. The sector had expanded sharply in 2021 as Covid-19 lockdowns drove consumer spending on household goods such as mattresses and upholstered furniture, key drivers of PU foam demand.
European producers have since faced growing competition from neighbouring regions. Eurasian output surged by 17.9pc to 223,200t in 2024, driven largely by Russia, where production is running "flat out", said Clint Raine, co-founder of consultancy Belvedere and Partner, speaking at Europur's annual conference in Spain today.
In contrast, output in Poland — Europe's largest producer — fell by 1.2pc to 203,400t. Turkey, which overtook Poland in 2023 as the biggest producer in the wider Europe, Middle East and Africa (EMEA) region, produced slightly more than Poland again last year, although its output declined by 5pc to 203,900t.
There are no clear signs of a recovery in European production in 2025, Raine said, citing stagnant demand and rising costs.
Most industry participants share that view. A survey of delegates at the Europur conference showed that 49pc expect European output to fall by up to 5pc this year, while 21pc forecast a drop of more than 5pc. About 23pc expect production to remain stable, and just 7pc anticipate growth in 2024.
