Low density, lightweight material and low heat for sound insulation are factors that fuel the demand of polymer foams market.
Market Size – USD 107.23 Billion in 2018, Market Growth - CAGR of 4.6%, Market Trends – Rise in demand for polyurethane based foams.
NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- The global Polymer Foams market is forecasted to reach USD 155.01 Billion by 2026, according to a new report by Reports and Data. Low density, lightweight material and low heat for sound insulation are factors that fuel the demand for polymer foams market. Rapid urbanization and increasing disposable income in the emerging economies will also fuel the growth of the market. Polymer foams are incredibly lightweight, versatile, durable, and dermatologically-friendly. Polyurethane-based foams are widely used in packaging, building and construction, automotive, and marine industries.
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Demand for polyurethane based foams is also a major factor driving the growth of the market. Polyurethanes (PU) are available as both rigid and flexible foams, and also as a coating for adhesive material. Due to these properties of PU, these are used in many different applications and industries. Some applications in the automotive sector are passenger car seat cushions, gasket seals, armrests, headrests, and other components to create lightweight, fuel-efficient, and robust structures. Rigid polyurethanes are used for insulation and flotation, while flexible ones are used for cushioning and packaging. PU is also used as adhesives in the construction and transportation industries. However, the volatile costs for raw materials will be a cause of restraint to the growth of the market.
Further key findings from the report suggest
- The market is segmented on the basis of resin type into polyurethane foam, polystyrene foam, PVC foam, phenolic foam, polyolefin foam, melamine foam, and others.
- Polystyrene foam is forecasted to grow with the highest CAGR of 5.7% during the forecast period. Polystyrene foam is one of the lightest materials in terms of weight and has a high strength to weight ratio. The packaging and the railway industry generally uses polystyrene in a wide area of application.
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- The market is segmented on the basis of the structure into a closed cell or rigid and open cell or flexible.
- The open cell foams are forecasted to grow with a higher CAGR of 5.4% during the forecast period, due to its incredible sound barrier properties in normal noise frequency ranges, and better absorptive capability. These foams are used in furniture, transportation, bedding, carpet underlay, textile, sports applications, shock, and sound attenuation applications.
- The market is segmented on the basis of applications into packaging, building & constructions, furniture & bedding, automotive, rail, wind, marine, and others.
- Automotive is forecasted to be the fastest-growing segments with a CAGR of 6.8% throughout the forecast period, owing to the rise in application in various automotive components, such as seats, dashboards, power trains, and suspension bushings.
- The growth of the packaging industry is forecasted to follow the automotive segment, owing to surging demand for polystyrene foams in the sector.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific region held the largest market share, accounting for ~40% of the market share in the year 2018. The area is also forecasted to have the highest growth rate of 5.4% during the forecast period.
- Growing industrialization & urbanization, as well as the emerging automobile and packaging industries in emerging economies, such as India and China, will drive the market in the region.
- Key participants include Arkema, Sealed Air, BASF, Armacell, Total, Borealis, Kaneka, JSP, Rogers, Recticel, Synthos, Sekisui Alveo, Zotefoams, and Woodbridge, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For the purpose of this report, Reports and Data have segmented global Polymer Foams Market on the basis of resin type, foam cell size, structure, application, and region:
Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- Polyurethane Foam
- Polystyrene Foam
- PVC Foam
- Phenolic Foam
- Polyolefin Foam
- Melamine Foam
- Others
Foam cell size Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Macrocellular (>100 µm)
- Microcellular (1–100 µm)
- Ultramicrocellular (0.1–1 µm)
- Nanocellular (0.1–100 nm)
Structure Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Closed cell or rigid
- Open cell or flexible
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Packaging
- Building & Constructions
- Furniture & Bedding
- Automotive
- Rail
- Wind
- Marine
- Others
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- South-east Asia
- Latin America
- Brazil
- MEA
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