The global polymer foams Market size is expected to reach US$ 165.21 billion by 2030 and is expected to grow at an impressive double-digit rate of 4.3% from 2021 to 2030.
The study includes drivers and restraints of this market.
The study provides an analysis of the global polymer foams Market for the
period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is
considered as the base year.
Vital factors responsible for market growth are:
- Momentous rise in demand for numerous polymer foam in construction, furniture and automotive applications are expected to drive the polymer foam market growth.
- Growing applications in various industries, such as packaging, furniture and bedding, and automotive industries, are expected to drive the type demand.
- Huge adoption of polymer foam in industrial sector of Asian countries
- Sustainability of the energy as well as conservation across the world.
Why should you invest in this report?
If you are aiming to enter the global polymer foams Market,
this report is a comprehensive guide that provides crystal clear insights into
this niche market. All the major application areas for polymer foams are
covered in this report and information is given on the important regions of the
world where this market is likely to boom during the forecast period of
2021-2030, so that you can plan your strategies to enter this market
accordingly.
Besides, through this report, you can have a complete grasp
of the level of competition you will be facing in this hugely competitive
market and if you are an established player in this market already, this report
will help you gauge the strategies that your competitors have adopted to stay
as market leaders in this market. For new entrants to this market, the
voluminous data provided in this report is invaluable.
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Growth Factors
The economic growth in emerging nations and development in the main end-use sectors such as automotive, construction, packaging, and bedding and furniture industries are accelerating the growth of polymer foam market across the world. Further, increase in the need for insulated foams in the construction and building sector is flourishing the demand of polymer foams. Intensification in the requirement for energy-efficient facade systems and severe eco-friendly guidelines are expected to supplement the growth of global polymer foams market during years to come. In addition, escalation in population has caused in upsurge in shifting of people to urban areas which drives the need for expansion of infrastructure facilities around the globe during impending years. This aspect is predictable to propel the need for energy-efficient buildings across the world during forecast period.
- The polyurethane resin segment is predicted to record the maximum growth rate on account of its less heat conduction coefficient, less density, inferior water absorption, comparatively superior insulating properties and better mechanical strength
- Automotive is assessed to be one of the rapidly advancing segments during prediction period due to cumulative usage of polymer foam in numerous automotive components, including dashboards, seats, power trains, and suspension bushings among others.
- Tremendous growth of the market in the U.S. is subsidized by expanding demand for polystyrene and polyurethane foams in construction, marine applications and usage of PVC foam in wind energy sectors.
- Rising industrialization, booming packaging sectors, high production of automobile interiors in developing countries like India and China are predictable to lift demand for polymer foams during years to come
Regional Snapshots
Globally, Asia Pacific occupied for major revenue share ascribed to the huge need from packaging and construction industries. The emerging nations of the Asia-pacific are obtaining several overseas equipment in order to improve the production efficacy. Additionally, market anticipants are implementing plentiful business expansion strategies in order to further augment the total production capacity in Asia Pacific. On the other hand, Latin America is expected to inflate at a considerable growth rate throughout the prediction period on account of huge demand from the construction industry in this region. Moreover, growth of the construction and building sector and development of the automotive sector are supporting the sales for polymer foams in the region.
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Key Market Players and Strategies
Some of the major players functioning in the global polymer foams market are Covestro AG, BASF SE, Sealed Air Corporation, Recticel NV, Total S.A., SABIC, Rogers Corporation, and DowDuPont Inc., among others. These corporations are involved in tactics such as mergers and acquisitions, collaborations, introduction of innovative products and geographical expansion in order to sustain fierce market competition.
Global polymer foam market is experiences forward integration via polymer foam manufacture, raw material production, and distribution to numerous application sectors. Integration across diverse stages value chain outcomes in incessant raw material supply, and less manufacturing costs. For occurrence, in 2018, Sealed Air Corporation executed acquisition of AFP Inc which is a chief manufacturer of corrugated, foam, wood packaging solutions and molded pulp in order to expand its product offering. The acquisition is projected to reinforce the company’s place in sectors such as transportation and electronics.
- Polyurethane (PU)
- Polyethylene (PE)
- Polypropylene (PP)
- Ethylene-Vinyl Acetate (EVA)
- Others
By Application
- Furniture and Bedding
- Transportation
- Packaging
- Construction
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Regional Analysis:
The geographical analysis of the global polymer foams Market
has been done for North America, Europe, Asia-Pacific, and the Rest of the
World.
The North American market is again segmented into the US,
Canada, and Mexico. Coming to the European market, it can be segmented further
into the UK, Germany, France, Italy, Spain, and the rest. Coming to the
Asia-Pacific, the global polymer foams Market is segmented into China, India,
Japan, and Rest of Asia Pacific. Among others, the market is segmented into the
Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle
East & Africa).
Key Questions Answered by the Report:
- What
will be the size of the global polymer foams Market in 2030?
- What
is the expected CAGR for the polymer foams Market between 2021 and 2030?
- Which
are the top players active in this global market?
- What
are the key drivers of this global market?
- How
will the market situation change in the coming years?
- Which
region held the highest market share in this global market?
- What
are the common business tactics adopted by players?
- What
is the growth outlook of the global polymer foams Market?
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