As per the report published by Fior Markets, the global polymer foam market is expected to grow from USD 112.45 Billion in 2018 to USD 154.65 Billion by 2026, at a CAGR of 4.06% during the forecast period 2019-2026.The Asia Pacific region led the global polymer foam market with a 40.28% share of market revenue in 2018 due to huge ongoing construction activities, increasing demand for the polymer foam in automobiles, and emerging applications in end- industries. The North America region also accounted for a significant share of the global polymer foam market in 2018.
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“Polymer Foam Market by Type (Polyurethane, Polystyrene, Polyolefin, Melamine, Phenolic, PVC, Others), Application, Regions”,Global Industry Analysisand Global Forecast 2019-2026.
Major players in the global polymer foammarket are Arkema Group, Armacell International S.A., BASF SE, Borealis AG, Fritz Nauer AG, KoeppSchaum GmbH, JSP Corporation, Polymer Technologies, Inc., Recticel NV, Rogers Corporation, Sekisui Alveo AG, Synthos S.A., Bayer AG, Covestro, DowDuPont, Inc., Trelleborg AB, Zotefoamsplc, Woodbridge Foam Corporation, and Sealed Air Corporation among others. In order to comply with stringent environmental regulation imposed on the polyurethane foam industry, major players are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. For instance in 2018, Dow Polyurethanes, a business division of DowDuPont announced the launch of a new range of co-polymer polyols (CPPs) to address the demand and diverse requirements of the flex foam industry. The four new CPPs on offer—VORALUXTM HL 500; VORALUXTM HL 510; VORALUXTM HL 515; VORALUXTM HL 525—will represent a high class for flex foam applications. The range will aim to address the requirements for low emissions found in Automotive, Bedding and Furniture sectors, having a broad processing range that will yield foam consistency and high solids content for efficient load-bearing properties.
The global polymer foam market has been segmented on the basis of type and application.The type segment is divided into polyurethane, polystyrene, PVC, phenolic, polyolefin, melamine, and others. The polyurethane foams are widely utilized in various industries owing to their superior lightweight, low heat and sound transfer, high-energy dissipation, and insulation properties. As a result, the polyurethane foam segment dominated the global market for the polymer foam with a 53.92% share of market revenue in 2018. The polyurethane type of polymer foam are widely consumed in the automotive, building &construction,and marine applications due to their load bearing and high resistance features. In addition, polyurethane are recyclable, light in weight, flexible, and resistant to erosion and vibration. The application segment contains packaging, building & constructions, furniture & bedding, automotive, rail, wind, marine, and others. Polymer foams are progressively being used in the various automotive components, such as seats, dashboards, power trains, and suspension bushings. Thus, the rising worldwide demand for the automobiles is projected to fuel the automotive application segment to grow at the highest CAGR of 6.12% over the forecast period. However, building & construction segment dominated the global polymer foam market by accounting highest market size during the forecast period. This is due to increasing applications of polymer foam for insulation and as sealants in construction applications.
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Polymer foam are extremely lightweight and versatile, corrosion resistant, highly durable, mildew resistant, and dermatologically-friendly. Polymeric foams are commonly used in structural applications due to the weight saving and stiffening capabilities they can offer in the design. Factors propelling the growth of the market include global demand for the lightweight fuel efficient cars, increasing demand from the construction sector, and growing application in the wind energy sector. Conversely, the volatility in the raw material prices and environmental concerns related to the polymer foam manufacturing process may limit the growth of the global polymer foam market over the forecast period.Development of biodegradable polymer foam and burgeoning demand from the Asia Pacific region is anticipated to open new opportunities for the global polymer foam market. The growing environmental concerns related to the polymer foam manufacturing process is the major challenge for the global polymer foam market.
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