New York, U.S., Aug. 23, 2022 (GLOBE NEWSWIRE) — Polymer Foam Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Polymer foam market Information by form, application and region – Forecasts until 2030“, the market is expected to grow at a CAGR of 7.73% to reach $157.63 billion by 2030.
Plastic foams and plastic foams are other names for polymeric foams, which have a solid and gaseous phase. Polyurethane foams are one of the most widely used polymer foams due to their low density and high thermal conductivity. Polyurethane, polyolefin, polystyrene, phenolic and other types of polymer foams are among them. Plastic foam can be created by using a blowing agent in a polymer base to create a matrix of air bubbles. Several processes are used to create these foams, including blow molding, extrusion, injection molding, and slab casting. These materials are mainly used as gasket filler in construction projects, furniture upholstery and disposable fast food packaging. Polymer foams are exceptionally light and adaptable, incredibly strong, mold and mildew resistant and dermatologically safe.
They are safe and recommended for many consumer applications because of these qualities. Polyurethane-based foams are frequently used in the automotive, marine, building and construction industries. Polyurethane foams are strong, lightweight, adaptable, vibration and corrosion resistant, recyclable and offer great freedom of geometric design. High recycling rates, clean incineration for filtering pollutants, less waste and increased durability are some of the environmental benefits of polymer foam. However, several governments and federal agencies are gradually expressing concerns about the adverse health effects of isocyanates used in the manufacture of polyurethane. The development of bio-based polyols and non-toxic isocyanates, among other significant technological developments, is expected to increase the demand for polymer foams in various applications.
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|Market size 2030||$157.63 billion|
|Year of reference||2020|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By form, application and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Growing demand for the product from the rapidly growing aerospace, defense and automotive industries.|
|Growth in disposable income is the driving factor|
Market Competitive Landscape:
The illustrious contenders in the polymer foam market are:
- BASF SE (Germany)
- Toray Industries, Inc. (Japan)
- Borealis AG (Austria)
- Recticel SA (Belgium)
- Armacell International SA (Germany)
- Polymer Technologies, Inc. (USA)
- Rogers Corporation (USA)
- Zotefoams plc (UK)
- Arkema SA (France)
- Total SA (USA)
- SABIC (Saudi Arabia)
- Synthos SA (Poland)
Covered USP market:
The product is seeing growing demand from the growing aerospace, defense and automotive industries. Growing need for electronic packaging, growing use of polymer foam in commercial and construction activities, and increasing disposable income are the factors driving the growth of the polymer foam market. The market is growing as more and more applications are used to manufacture furniture products. The opportunity to accelerate the expansion of the market is offered by the growing importance given to the production and use of renewable energy to reduce the global carbon footprint. Technological developments in polymeric foam may present a chance to accelerate market expansion.
The demand for memory foam bedding items like mattresses and pillows is increasing due to the increasing elderly population in countries like Japan and Germany. Building materials that improve the energy efficiency of a building are increasingly in demand due to the growing influence of sustainable building materials. Domestic applications are driving the market expansion in European countries.
The price volatility of base materials like crude oil and the high cost of polymeric foam are limiting the expansion of the industry. Polymer products are known to be non-biodegradable when made from resins such as polyurethane, polyethylene, and polystyrene. The biggest problem facing the market is the lack of environmentally friendly alternatives. Plastic foams are less in demand over the projected period due to restrictions on polymer-based products, especially foam ones.
Browse the in-depth (139 pages) Polymer Foam Market Research Report: https://www.marketresearchfuture.com/reports/polymer-foam-market-4964
COVID 19 Analysis
End-use industries’ polymer foam needs have declined due to global lockdowns and supply chain disruptions. Additionally, the building and construction sector is being severely impacted by lower consumer spending and transportation restrictions. The demand for polymer foam has declined due to severe damage from the construction industry. However, as corona cases decline, most regions are implementing regulatory easing measures and industries are rapidly restarting operations, restoring profits. The performance of the building and construction industry has also been significantly affected by lower consumer spending and restrictions on the movement of supplies. This aspect has also had an impact on the demand for these foams.
Plastic foam manufacturers have stepped up their efforts to create foam for alternative and advanced applications. These foams are more in demand in the market due to their use in the packaging of food and medical products. In addition, their requirements for polymeric foams have increased for the production of sports shoes and other sports products, compensating for the decline in demand in other application areas.
Based on the product
The polyurethane segment holds the highest segment share in the market.
The soft foams segment holds the leading segment share in the market.
Based on demand
The building and construction segment holds the maximum segment share of the market.
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The largest geographic market is in Asia-Pacific. The increase in the regional market is anticipated due to promising prospects for the manufacturing sector, given the increasing importance given to R&D and the good investment plans of the government. During the projected period, increasing industrialization, manufacturing of automotive interiors or parts, and packaging sector in emerging countries are expected to increase the demand. Investments in these areas are expected to increase as does foreign direct investment. The market is expected to grow significantly in Europe over the forecast period.
The regional market would witness a dramatic expansion owing to the growing demand for interiors in the automotive industry. One of the other major factors driving the market growth in Europe is the use of foams for furniture and packaging applications. Compared to other regions, Latin America, the Middle East and Africa are expected to show sluggish growth in this market. Foams must be imported from other places since local demand cannot be met by the amount of foam produced in these regions.
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