The ‘Global Polymer Foam Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global polymer foam market, assessing the market on the basis of its segments like foam type, resin type, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Polymer Foam Market Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.20%
The rapidly expanding construction and building industry is significantly contributing to the growth of the polymer foam market. The major factors driving the growth of this market include the surging demand for automobile interiors and parts and increasing foreign investments. The flexibility of polymer foams make them suitable for making carpet underlays, beddings, and home furniture, which is likely to surge their demand in the furniture industry. Besides, its sound insulation and vibration dampening qualities have led to its wide adoption in the transportation industry, where it also combats cushioning issues. Polymer foams with an enclosed cell structure are used to retain the buoyancy of boats after multiple load-unload cycles, in line with its resistance to moisture.
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The polyurethane resin type of polymer foams is expected to witness widespread growth in the forecast timeline owing to its robust mechanical strength and good insulating properties. Meanwhile, the polystyrene foam resin types are also likely to register a steady growth in the future due to their superior properties like low heat and sound transfer and lightweight nature. Building and construction applications of the polymer foam market are expected to witness a robust growth in line with the growing applications of polymer foam in wires and cables, flooring, and for insulation purposes.
Polymer Foam Industry Definition and Major Segments
A polymer foam is a polymeric matrix made from the statistical distribution of gas bubbles that work as a reinforcement agent. It is made from foam extrusion moulding and foam injection moulding techniques. The low density and great flexibility of polymer foam makes it suitable for a wide range of industrial applications.
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On the basis of foam type, the market is segmented into:
• Flexible Foam
• Rigid Foam
Based on resin type, the market is classified into:
• Polyurethane Foam
• Polystyrene Foam
• PVC Foam
• Phenolic Foam
• Polyolefin Foam
• Melamine Foam
On the basis of applications, the market is categorised into:
• Building and Construction
• Furniture and Bedding
Based on region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Polymer Foam Market Trends
The increasing geriatric population has accelerated the demand for polymer foam for padded furniture and bedding, thus bolstering the polymer foam market. The key trends that are propelling the growth of the market include the growing demand from various core industries like furniture, packing, and bedding and the rising demand for bio-based polyols. The increasing usage of electronics is surging the demand for polymer foam for electronics packaging, which is widening the growth potential of the polymer foam market.
The integration of evolving technology with polymer foams have led to the emergence of smart foams, incorporated with sensors and self-healing materials, which are transforming the market for polymer foam. Stringent regulations for environment safety and the rising research and development activities are significantly contributing to the growth of the market for polymer foams.
Advancements in additive manufacturing of polymer foam have enabled printing products in customised shapes and sizes which is spurring the polymer foam market. Hectic lifestyles and increasing postural deformities have triggered the demand for memory foam mattresses which use a special type of polymer foam that retains its shape and helps muscles relax. The burgeoning demand for comfortable and lightweight footwear, especially for the aged population, is further augmenting the growth of the market for polymer foam.
Key Market Players
The major players in the global polymer foam market report are:
• Armacell International S.A.
• Covestro AG
• BASF SE
• Arkema S.A.
• Borealis AG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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