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Polymer Foam Market Size Is Projected Reach USD144.46 Billion By 2025: Grand View Research ,Inc

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Polymer Foam Market Size Is Projected Reach USD144.46 Billion By 2025: Grand View Research ,Inc

August 15
08:16 2019
Polymer Foam Market Size Is Projected Reach USD144.46 Billion By 2025: Grand View Research ,Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Rising demand from automotive and building and construction industries is likely to drive the market. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging among other applications.

According to a report, “ Polymer Foam Market Size, Share & Trends Analysis Report By Type (Polyurethane, Polystyrene, Polyolefin, Melamine, Phenolic, PVC), By Application, By Region, And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,The global polymer foam market size is expected to reach USD 144.46 billion by 2025., expanding at a CAGR of 4.0% over the forecast period. Rising demand from automotive and building and construction industries is likely to drive the market. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging among other applications.

Rigid types are primarily used as an insulation material in construction and refrigeration applications. They are energy-efficient and help in cutting energy costs. Flexible types are mainly used as a cushioning material in transportation, furniture, bedding, carpet underlay, and packaging among others.

Rising focus on development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. Manufacturing cost of these biodegradable types is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.

On the basis of type, polystyrene was the largest segment in 2018 and accounted for 32.2% share of the global revenue. Expanded polystyrene based products have excellent shock absorbing properties and are preferred in storing, packaging, and transporting of electrical equipment, cooked food, and perishable goods. They are also preferred in various marine floatation applications, including construction of floating docks, surfboards, and boat stands.

Polyolefin foams including polypropylene and polyethylene are expected to witness significant expansion in the forthcoming years. Traditionally, low melt strength of these products, particularly polypropylene, limited the growth of this segment in the global market. Several technologies including post-reactor radiation and compounding modifiers method have been introduced by various polyolefin manufacturers, such as Borealis and LyondellBasell Industries Holdings B.V. The aim is to improve the strength of polyolefins to meet the requirements of wind energy applications, including spar webs and shell panels, and marine applications like vibration control and cushion seats.

Growth of the automotive and building and construction industries in Europe and Asia Pacific is expected to drive the demand for polymer foam over the forecast period.

U.S. polymer foam market

Further key findings from the study suggest:

  • On the basis of type, polyolefin is estimated to emerge as one of the fastest-growing segments over the forecast period. The product penetration has increased over the past few years in the flooring and automotive industries. Companies such as Sekisui Alveo AG, Armacell International S.A., and Borealis AG produce polyolefin foams in rolls and sheets that are environmentally friendly, versatile, and lightweight

  • Building and construction was the largest application segment in 2018 and accounted for 37.32% of the overall volume. Asia Pacific is estimated to witness the highest growth over the forecast period on account of surging demand from the manufacturing sector in countries, including India, China, and Indonesia

  • Capacity expansions and acquisitions are some of the strategies adopted by the leading manufacturers to expand their product portfolio, thus retaining their position in the market. For instance, in 2016, Synthos S.A. acquired INEOS Styrenics to increase its production capacity for expandable polymer styrene (XPS)

  • Key players operating in the polymer foam market include BASF SE, Woodbridge Foam Corporation, Borealis AG, Sealed Air Corporation, Zotefoams PL, Armacell International S.A., and Recticel Group. 

Application Insights

Building and construction was the largest segment owing to rising applications of polymer foam for insulation purposes, flooring, pipe, molding, and in wire and cables. Furniture and bedding will remain the second largest segment owing to increasing applications, such as carpet padding, fibers, chair cushions, mattress padding, and furniture.

Global polymer foam market

Automotive is estimated to be one of the fastest-growing segments over the forecast period on account of increasing use in various automotive components, such as seats, dashboards, power trains, and suspension bushings. Recovery of the U.S. automobile sector, coupled with increasing automotive production in emerging economies of India and China, is expected to have a positive impact on the overall market growth. Packaging is expected to follow the automotive segment and is likely to witness significant growth owing to surging demand for polystyrene foams from the packaging sector.

Regional Insights

The U.S. polymer foam market was driven by rising demand for polyurethane and polystyrene foams in building and construction and marine applications and PVC foam in wind energy applications. According to the U.S. Department of Housing and Urban Development, the new residential housing completions increased from approximately 900 thousand units in 2014 to 1,200 thousand units in 2018. This steady rise in residential units had driven the demand from building and construction application.

Request A Free Sample Copy Of Polymer Foam Market Report At: www.grandviewresearch.com/industry-analysis/polymer-foam-market/request/rs1

Asia Pacific was the largest regional market and accounted for 39.54% share of the global revenue in 2018. Positive outlook for the manufacturing industry in light of increasing focus on research and development, coupled with favorable government initiatives to attract investments, is expected to result in regional market expansion.

Growing industrialization, production of automobile interiors or parts, and packaging industries in emerging economies, such as India and China, are expected to boost demand over the forecast period. Rising foreign direct investment is expected to contribute to investments in these sectors.

Browse Related Report: 

  • Medical Plastics MarketEnforcement and upgrading of various infection prevention standards coupled with a growing volume of surgical, hospital, and outpatient procedures are anticipated to drive the growth of medical plastics market. Fluctuation in oil prices has been a major factor responsible for volatile prices of Polyvinyl Chloride (PVC), Polyethylene (PE), Polypropylene (PP), and polystyrene.
  • Polymer Market – Increasing consumption of polymer resins, such as Ethylene Vinyl Alcohol (EVOH), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polyvinyl Chloride (PVC), High-Density Polyethylene (HDPE), Ethylene Propylene Diene Monomer (EPDM), polyamide, and chlorosulfonated polyethylene, in automotive, packaging, and electronics industries is likely to reduce the raw material supply over the forecast period.

Grand View Research has segmented the global polymer foam market on the basis of type, application and region:

Polymer Foam Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Polyurethane

  • Polystyrene

  • PVC

  • Phenolic

  • Polyolefin

  • Melamine

  • Others

Polymer Foam Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Packaging

  • Building & Construction

  • Furniture & Bedding

  • Automotive

  • Rail

  • Wind

  • Marine

  • Others

Polymer Foam Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • U.K.

    • Spain

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Singapore

    • Indonesia

  • Central & South America

    • Brazil

  • Middle East & Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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