Recently Published Report on “Polymer Foam Market Size, Share, Growth, Trends Analysis, Revenue, Segmentation, Regional Outlook and Forecasts, 2021 - 2030”.
OTTAWA, March 05, 2021 (GLOBE NEWSWIRE) -- The global polymer foams market was valued at US$ 115.54 billion in 2020 and expected to be worth around US$ 165.21 billion by 2030, growing with a CAGR of 4.3% during the forecast period 2021 to 2030.
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.
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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.
Growth Factors
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.
Report Highlights
- 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
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Regional Snapshots
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.
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Key Players & Strategies
Some of the major players functioning in the global polymer foams market are Covestro AG, BASF SE, Sealed Air Corporation, Recticel NV, Total S.A., SABIC, Rogers Corporation, and DowDuPont Inc., among others. 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.
Major Market Segments Covered:
By Type
- Polyurethane (PU)
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene-Vinyl Acetate (EVA)
- Others
By Application
- Furniture and Bedding
- Transportation
- Packaging
- Construction
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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