According to Precedence Research, the global polymer foams market was estimated at US$ 115.54 billion in 2020 and is projected to reach US$ 165.21 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030. The report contains 150+ pages with detailed analysis.
The report provides the overall revenue of the global polymer foams market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year. The study includes drivers and restraints of this global market. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global polymer foams market for the period from 2017 to 2030.
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Polymer foams consists of a gas and solid phase assorted together to form a foam. This usually happens by compounding the 2 phases so quick for the system to respond in a smooth way. The subsequent foam has a polymer matrix with air tunnels or air bubbles that is acknowledged as open-cell or closed-cell structure. Polymer foams possesses better heat insulation, less density, decent sound insulation effects, more corrosion resistance, more specific strength, and are extensively employed in industrial and civil applications.
Polymer foams finds usage in various applications such as polyurethane or PU soft foam can be applied in composite fabrics, furniture, clothing, car cushions, shoes and hats, and sports equipment. On the other hand, PU hard foam finds application in the production of freezers, refrigerators, and refrigerated containers among others. Polypropylene or PP foam is extensively employed in military sectors, daily necessities, transportation, and aerospace applications like production of numerous thermal insulation materials, seat cushions, shockproof materials, building materials and packaging materials.
Phenolic foam is mostly utilized in the fields of automobiles, architecture, electronic and electrical applications, the steel and iron industry, and aerospace among others. It can comply the necessities of combustion-resistant building constituents and heat insulation for large-scale entertainment and sports places, multistory buildings, and high-velocity vehicles. Polyimide or PI foam with more thermal stability, more thermal insulation and great fire resistance presents wide opportunities for development in the aircraft, aerospace, and marine arenas.
The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The polymer foams report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.
The economic growth in emerging nations and development in the main end-use sectors such as automotive, construction, packaging, and bedding and furniture industries are accelerating the growth of polymer foam market across the world. Further, increase in the need for insulated foams in the construction and building sector is flourishing the demand of polymer foams. Intensification in the requirement for energy-efficient facade systems and severe eco-friendly guidelines are expected to supplement the growth of global polymer foams market during years to come. In addition, escalation in population has caused in upsurge in shifting of people to urban areas which drives the need for expansion of infrastructure facilities around the globe during impending years. This aspect is predictable to propel the need for energy-efficient buildings across the world during forecast period.
- The polyurethane resin segment is predicted to record the maximum growth rate on account of its less heat conduction coefficient, less density, inferior water absorption, comparatively superior insulating properties and better mechanical strength
- Automotive is assessed to be one of the rapidly advancing segments during prediction period due to cumulative usage of polymer foam in numerous automotive components, including dashboards, seats, power trains, and suspension bushings among others.
- Tremendous growth of the market in the U.S. is subsidized by expanding demand for polystyrene and polyurethane foams in construction, marine applications and usage of PVC foam in wind energy sectors.
- Rising industrialization, booming packaging sectors, high production of automobile interiors in developing countries like India and China are predictable to lift demand for polymer foams during years to come
Globally, Asia Pacific occupied for major revenue share ascribed to the huge need from packaging and construction industries. The emerging nations of the Asia-pacific are obtaining several overseas equipment in order to improve the production efficacy. Additionally, market anticipants are implementing plentiful business expansion strategies in order to further augment the total production capacity in Asia Pacific. On the other hand, Latin America is expected to inflate at a considerable growth rate throughout the prediction period on account of huge demand from the construction industry in this region. Moreover, growth of the construction and building sector and development of the automotive sector are supporting the sales for polymer foams in the region.
Key Players & Strategies
Foremost competitors contending in global Polymer Foams market are as follows:
- Kaneka Corporation
- BASF SE
- Dow Inc
- Huntsman Corporation
- Rogers Corporation
- Covestro AG
- Sealed Air Corporation
These corporations are involved in tactics such as mergers and acquisitions, collaborations, introduction of innovative products and geographical expansion in order to sustain fierce market competition. Global polymer foam market is experiences forward integration via polymer foam manufacture, raw material production, and distribution to numerous application sectors. Integration across diverse stages value chain outcomes in incessant raw material supply, and less manufacturing costs. For occurrence, in 2018, Sealed Air Corporation executed acquisition of AFP Inc which is a chief manufacturer of corrugated, foam, wood packaging solutions and molded pulp in order to expand its product offering. The acquisition is projected to reinforce the company’s place in sectors such as transportation and electronics.
Key Market Developments:
- In 2018, The Dow Chemical Company announced start of new facility of rigid PU in Thailand, which is raw material of polymer foam. This development is anticipated offers advanced solutions and will raise the capacity of the company.
- In 2019, BASF has expanded its research and development campus at Shanghai and developed its regional capacity. This is in order to cooperate with the automotive industries and to strengthen the position in the target market.
Major Market Segments Covered:
- Polyurethane (PU)
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene-Vinyl Acetate (EVA)
- Furniture and Bedding
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Why should you invest in this report?
If you are aiming to enter the global polymer foams market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for polymer foams are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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