Global Structural Foam market is valued approximately USD 29.59 Billion in 2018 and is anticipated to grow with a growth rate of more than 5.20% over the forecast period 2019-2026. Structural Foam are said as thermoplastic product that have a cellular foamed core with a solid skin surrounding its core. The structural foam is produced through a form of injection molding process using inert gas or chemical blowing agent such as carbon dioxide and nitrogen. It is a low-pressure process with injection pressure that generally ranges from 3000 to 6000 PSI and use high pressure injection for molding structural foams.
The versatile and unique properties of structural foam, rising demand from end-use industries, favorable government initiative and growing focus toward development of the wind energy sector are the factor driving the growth of market over the forecast years. The structural foam is an innovative building and construction material that helps in reducing building’s energy and controls building temperature. As the gaps, holes and air leaks leads to the excessive rise of energy bill and let valuable resources go to waste therefore structural foam are used in building and construction process to seal gaps, maintain temperature and reduce building energy use. The rising construction and building sectors across the globe and implementation of structural foam due to its efficient properties accelerate the growth of market. For instance: As per Statista, construction industry spending worldwide stands for USD 11.4 trillion in 2018 and expected to grow to USD 14 trillion till 2025. Whereas, rising scope for global business expansion is the lucrative opportunity for the growth of market. However, high equipment cost and fluctuation in raw material price are the factors hampering the growth of market.
The regional analysis of global Structural Foam market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America accounts for the largest share in the global structural foam market due to the expanding building and construction sector along with growing automotive market in the region. Also, North America is the fastest growing region in the global structural foam market due to the presence of favorable and supportive government initiative in the region.
Market player included in this report are:
- Evonik Industries
- Saudi Basic Industries Corporation (SABCI)
- GI Plastek
- Oneplastics Group
- Armacell International S.A.
- BASF SE
- The DOW Chemical Company
- Bayer Material Science
- Diab Group
- Gurit Holding AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Building & Construction
Electrical & Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Structural Foam Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers