Fior Market Research launched a study titled “Polymer Foam Market by Type (Polyurethane, Polystyrene, Polyolefin, Melamine, Phenolic, PVC, Others), Application, Regions”,and Global Forecast 2019-2026.
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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. Rising demand for the polymeric foam materials from the automobile, shipping, and construction sector, growing demand for the lightweight fuel efficient cars globally, and growing application in the wind energy sector are the dynamics that led to the growth of the globalpolymer foam market.
The polyurethane segment dominated the global polymer foam market by accounting highest revenue around USD 60.63 billion in 2018
The type segment is divided into polyurethane, polystyrene, PVC, phenolic, polyolefin, melamine, and others. The polyurethane foam segment dominated the global polymer foam market by accounting highest revenue around USD 60.63 billion in 2018 and is expected to maintain its dominance by growing with the highest CAGR during the forecast period.The polyurethane foams are widely utilized in various industries owing to their superiorlightweight, low heat and sound transfer, high-energy dissipation, and insulation properties.Thepolyurethane 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 automotive segment is anticipated to grow at the highest CAGR of 6.12% over the forecast period
The application segment contains packaging, building & constructions, furniture & bedding, automotive, rail, wind, marine, and others. Polymer foams are progressively being used in 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.
Regional Segmentation Analysis:
The regions analyzed for the global polymer foam market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. There has been a huge demand for the polymer foams from the ever expanding automotive, construction and packaging sectors within the Asia Pacific region. Consequently, the Asia Pacific region led the global polymer foam market with USD 45.29 billion revenue in 2018. The North America region also accounted for a significant share of the global polymer foam market in 2018.
Polymer foams are obtained by incorporating gas into a solid phase resulting into smooth, fluid like material. Polymer foams are widely used in numerous industries majorly in building & constructions, furniture & bedding, and automotive. Even though the factors such as increasing demand from the construction sector, global demand for the lightweight fuel efficient cars as well as growing application in the wind energy sector are driving the global polymer foam market. The volatility in the raw material prices and environmental concerns related to the polymer foam manufacturing process are expected to restrain the global polymer foam market growth over the forecast period.
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Major players in the global polymer foam market 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. Recticel NV, Armacell International S.A., JSP Corporation, Zotefoamsplc, and DowDuPont, Inc. are the major leading companies in the global polymer foam market. The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global polymer foam market.For instance, in 2017, Sabic launched two new polymer foam grades named SABIC LDPE HP2024JDF and HP2024ND. These products were primarily intended for the Middle East, African, and Asian markets for physical extrusion foam.
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