The global Polymer Foam market is forecast to reach USD 153.64 Billion by 2028, according to a new report by Reports and Data. The industry is expected to be driven by growing demand from the automobile, manufacturing, and building industries. Polymer foams are commonly used in a range of structural constructions in combination with other materials, high strength foam furniture, rigid insulation sheets, vehicle frames, fabric underlays, upholstery padding, and wrapping, among others.
Polymer foams are incredibly lightweight and flexible; they are highly durable, resilient to mildew, and dermatologically safe. Such features make them safe and acceptable for many consumer applications. Polyurethane (PU) foams are robust, lightweight, flexible, and corrosion and friction resistant, recyclable, and provide a high degree of geometric design flexibility. PU is widely used for the development of lightweight, fuel-efficient, and robust systems in various passenger vehicle seat cushions, gasket seals, armrests, headrests, cushioned control panels, airbags, and other parts. The low melting strength of such products, especially polypropylene, has generally restricted this segment 's expansion on the global market.
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Top Players in the Global Polymer Foam Market:
BASF SE, Woodbridge Foam Corporation, Borealis AG, Sealed Air Corporation, Zotefoams PL, Armacell International S.A., Arkema Group, Fritz Nauer AG, and Recticel Group.
Further key findings from the report suggest
- Polystyrene foam became the most prominent product in 2020 based on size and accounted for 23.61% of global sales. Expanded polystyrene-based materials have superior shock absorption properties and are used for shipping, wrapping, and transportation of electrical equipment, cooked foods, and perishable goods.
- Rigid types are mainly used in the building and refrigeration applications as an insulation material. They are energy-efficient, so they help to reduce electricity prices, and thus the segment is estimated to raise with a CAGR of 3.6% in the coming years.
- The Asia Pacific is projected to see the highest growth over the forecast period due to the burgeoning rise in China and India's manufacturing, automobile, and wind energy industries. The manufacturing sector 's optimistic outlook is anticipated to result in regional business growth in the light of growing emphasis on research and development, along with favorable policy policies to encourage investment.
- Manufacturers differentiate their goods based on quality and price, taking into account such factors as consistency and purity level. Insufficient supply than its demand is prone to higher commodity prices over the forecast period.
Market segmentation based on Type Outlook (Revenue, USD Billion; 2018-2028)
- Polystyrene Foam
- Polyurethane foam
- Pvc Foam
- Phenolic Foam
- Polyolefin Foam
- Melamine Foam
Foam Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Building Construction
- Furniture Bedding
- Rail Wind
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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