Polymer Foam Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2629
Polymer Foam Market Size will witness a profitable gain owing to use of product in myriad end-user segment including furniture & bedding, building & construction, automobile & transportation and others.
Polymer foams is the mixture of various polymer resins, gas and solid phase. The commonly used resins during the product manufacturing include polyurethane, polyvinyl chloride (PVC), phenolic resins, polystyrene, etc. The other raw material includes refined petroleum solutions, inorganic chemicals. Polymer foams are developed by incorporation of gas in a solid phase resulting in air incorporated porous structure. The product market will grow at rapid pace due to the unrivalled properties of product such as strength to weight ratio, light weight, outstanding acoustic and thermal insulation, cushioning effect and high shock absorbing capacity. Moreover, these products are less costly than metallic foams or fiber glass which increase the polymer foam market demand during the forecast timeframe.
Building & construction deemed to be a profitable quotient for polymer foam market as the product is primarily used for thermal and acoustic insulation. Polymer foams are suitable to roofs and walls for new homes and remodeling existing home. According to the U.S. Department of Energy, traditional foam requires more energy consumption while product reduce the consumption, maintain uniform temperature and reduce noise levels. The walls made from polymer foams are thin and provide excellent insulation which reduces the construction cost as well as utility bills. Asia Pacific building & construction sector will grow at substantial rate owing to rapid urbanization coupled with high disposable income will spur the product market in next six years down the line.
The polymer foam usage in automobile & transportation industry is a positive indicator for the market growth due to its application in headlights, gasket, cushioning and cables. Increasing penetration of polymer foam in automobile industry for manufacturing interior panels, seating arrangements and upholstery will bolster the product market during the forecast time period. According to OICA, global automotive sales was 93.8 million units in 2016 which is likely to grow at the end of forecast timeframe. Increasing automotive production in Asia Pacific and North America regimes will boost the product demand by the end of 2024. On the other hand, fluctuation in raw material prices and substitution of polymer forms from bio-based foams will hamper the Polymer Foam Market in coming years.
Based on type, polymer foam market is bifurcated into rigid and flexible. Flexible foam accounted for more than half of the overall market owing to its low cost and easy application. These are commonly used in building & construction, footwears, sport & recreations, textiles and others.
On product basis, Polymer Foam Market is diversified into polyurethanes, polystyrene, polyvinyl chloride, phenolic resins, polyolefins, and melamine. The other niche product includes micro cellulose, polyimide chloroprene, etc. Among these, polyurethane will have largest market share and will grow at a significant growth rate owing to increasing construction and renovation activities in North America.
On end-user basis, the Polymer Foam Market is classified into furniture & bedding, automobile & transportation, building & constructions, packaging, and general manufacturing. The other niche application includes textile, footwear, sports & recreation. Packaging is likely to have significant CAGR owing to their low weight, thermal insulation and surface protection. They are used in trays, sheets, protective bands and household items. Moreover, the use of product in furniture and bedding materials such as cushions, pillows, upholster furniture will propel the Polymer Foam Market in coming years.
Asia Pacific held major chunks of the product market share and will grow at a substantial growth rate owing to rapid industrialization in developing nation such as India, and China. Various initiative by the government to increase the manufacturing activities in their region will bolster the product market. For instance, Indian government has taken various initiatives such as ‘Make in India’, ‘Digital India’ and allow FDI to increase the manufacturing units in India. This will surge the manufacturing activities and further spur the polymer foam market by the end of 2024.
The major players in the Polymer Foam Market are Armacell International, Ach Foam Technologies, BASF, PAR Group, Roger Corporations, SABIC, The Dow Chemical Company, Toray Industries, Total, Foam Partner Group, Simona America, Borealis, Dyplast Products, Polymer Technologies, Sealed Air, and Synthos.
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