Portland, OR, Nov. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global polyolefin foam market generated $8.2 billion in 2021 and is projected to reach $13.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8.2 billion |
| Market Size in 2031 | $13.4 billion |
| CAGR | 5.1% |
| No. of Pages in Report | 257 |
| Segments Covered | Resin type, end-use industry, and region |
| Drivers | Rise in income levels and current attitudes toward home ownership among people |
| Increase in the expenditure on commercial and luxury automobiles in emerging economies | |
| Opportunities | Expansion of the construction industry |
| Surge in demand for CO2-based polyols | |
| Restrains | Restrictive laws |
| Rise in concerns about the environmental impact of small plastic beads |
COVID-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the growth of the global polyolefin foam market, owing to the presence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of polyolefin foams, which adversely impacted the demand for the market.
- In addition, shortage of workforce and essential raw materials due to strict import and export restrictions further aggravated the impact on the market. These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
- However, since the release of the lockdown and other restrictions, the global polyolefin foam market is expected to experience exponential growth.
- The majority of the market's expansion in the post-pandemic can be attributed to growth in the construction, healthcare, and various chemical industries.
The repot offers detailed segmentation of the global polyolefin foam market based on resin type, end-use industry, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on resin type, the polyethylene segment held the dominating market share in 2021, holding nearly half of the global, and is expected to maintain its leadership status during the forecast period. The ethylene vinyl acetate segment, on the other hand, is expected to cite the fastest CAGR of 5.5% during the forecast period.
Based on end use industry, the packaging segment held the dominating market share in 2021, holding around two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The automotive segment, on the other hand, is expected to cite the fastest CAGR of 5.7% during the forecast period.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 5.6% during the forecast period. The report also analyses other regions such as North America, LAMEA, and Europe.
The key players analyzed in the global polyolefin foam market report include Armacell, BASF SE, DOW INC, DuPont de Nemours, Inc., Hanwha solutions, Huzhou Changyuan Tefa Co.,Ltd., Intecfoams, KANEKA CORPORATION, NMC International SA, SABIC, Sekisui Chemicals Co., Toray Industries, Inc., TotalEnergies, Ultralon, Arkema.
The report analyzes these key players in the global polyolefin foam market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
