The global polymer foam market accounted for a value of 85.4 billion in 2019. It is projected to register growth at a CAGR of 4.0% during forecast period.
COVID-19 has impacted the polymer foam market as supply chain got disrupted due to travel restriction and manufacturing units have to shut or halt its production due to lockdown. There demand from end-users industries is declined. The construction activities are reduced in the market which has direct effect on polymer foams.
For more details, visit: Global Polymer Foam Market By Resin Type (Polyurethane, Polystyrene, Others), By Foam Type (Rigid, Flexible, Others), By Application (Automotive, Building & Construction, Others) By Region, Forecast & Opportunities to 2026
Polymer foams are widely adopted used in various industries such as packaging, building & construction and automotive sector etc. This foam is used in food packaging, pipe covers, seats and furniture etc. The rising adoption of polymer foams by different industries is a major driving factor during forecast period.
On the basis of application, the polymer foam market is segmented into building & construction, packaging, automotive, furniture & bedding, footwear, sports & recreational and others. Building & construction segment is accounted for 37.3% market share in 2019. Polymer foam is used in insulation, flooring pipe, wire & cables and moldings applications in building & construction segment.
On the basis of resin type, the polymer foam market is segmented into polyurethane, polystyrene, polyolefin, phenolic and others. Polyurethane resin type segment accounted for largest market share in 2019 and it is estimated to dominate the market during forecast period. Polyurethane foam is used in various applications such as carpets, cushioning and furniture etc. it have various superior capabilities including they transfer low heat, dissipate high energy, high insulation and lightweight. The demand for these foams is increasing in commercial and residential sector. The high adoption of polyurethane foam by various industries across the globe is likely to drive growth in this segment during forecast period.
The Asia-Pacific region accounted for 39.6% share in 2019. This region is estimated to be fastest growing market during forecast period. There are various favorable initiatives adopted by government in this region to support polymer foam market. The manufacturers are focusing on research and development sector to improve the products and to provide new technologies. The industrialization and urbanization is increasing in this region along with automotive sector and packaging sectors. These industries adopt polymer foam at large scale and this drives growth in this Asia-Pacific region during forecast period.
The key market players in polymer foam market are Armacell International, basf SE, Coverstro AG, Dow Chemical, Huntsman Inetrnational, JSP Corporation, Recicel NV/SA, Rogers Corporation, Sealed Air Corporation, Zotefoams PLC, ACH Foam Technologies, Arkema S.A., Boreals AG, Compagnie DE Saint-Gobain SA, Eurofoam Group, Foam Craft Inc., Foam Painter, Lanxess AG and Kaneka Corporation.
- What are the expected industry trends over the next three to five years?
- Which of the polymer foam type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?