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“The polymer foam market is projected to register a CAGR of 4.8 % between 2020 and 2025.”
The polymer foam market is projected to grow from USD 90.7 billion in 2020 to USD 114.8 billion by 2025, at a CAGR of 4.8% between 2020 and 2025. Growth of major end-use industries of polymer foams, high demand for polymer foams in APAC, and energy sustainability and energy conservation properties of polymer foam are the major market drivers.
“Building & construction segment is projected to be the largest segment of the polymer foam market.”
The building & construction industry is expected to lead the overall polymer foam market, in terms of value, between 2020 and 2025. Building & construction applications include forging, pipe-in-pipe, doors, roof board, and slabs. The building & construction industry is expected to witness the highest growth rate during the next five years, driven by huge investments in new infrastructure development, new housing projects, and renovation of non-residential buildings in the US, China, India, and Brazil.
“Polyurethane resin is the fastest-growing segment of the polymer foam market.”
PU foam is available in a wide range of rigidity, hardness, and density levels. Low-density flexible foams are used in upholstery, bedding, automotive and truck seating, and novel inorganic plant substrates for roof or wall gardens. Low-density rigid foams are used in thermal insulation and RTM cores. PU foams are mainly used in furniture & bedding and building & construction sectors. It is produced by many leading manufacturers. BASF provides foams under brands such as Elastospray, Enertite, Spraytite, Walltite, Elastopan, AutoFoam, and Elastopor. Similarly, Recticel produces PU foam under brands - Hydroseal, Colo-Sense, and dBRSeal.
“APAC is the largest polymer foam market during the forecast period.”
APAC is projected to be the largest, as well as the fastest-growing market during the forecast period. The region encompasses countries with different levels of economic development. The market growth in the region is mainly attributed to its high economic growth rate and heavy investments across industries, such as building & construction, packaging, furniture & bedding, automotive, footwear, and sports & recreational. The key polymer foam market players are expanding their production capacities in APAC, especially in China and India. The advantages of shifting production to APAC are the low cost of production and the ability to serve the local emerging market better.
Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.
Breakdown of Primary Interviews:
- By Company Type: Tier 1 – 18%, Tier 2 – 36%, and Tier 3 – 46%
- By Designation: C Level – 18%, D Level – 27%, and Others – 55%
- By Region: APAC – 45%, North America – 18%, Europe – 9%, South America- 9%, and the Middle East & Africa – 9%
The key companies profiled in this report are BASF SE (Germany), Rogers Corporation (US), The Dow Chemical Company (US), Recticel NV/SA (Belgium), Sealed Air Corporation (US), Huntsman International LLC (US), and Armacell International S.A. (Germany).
The polymer foam market has been segmented based on resin type (polyurethane, polystyrene, polyolefin, phenolic, and others), and end-use industry (building & construction, packaging, automotive, furniture & bedding, footwear, sports & recreational, others), and region (APAC, Europe, North America, Middle East & Africa, and South America). The end-use industry segments are further analyzed for each country in the respective regions.
Reasons To Buy the Report
From an insight perspective, this research report focuses on various levels of analyses ? industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on polymer foam offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for polymer foam across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.