PUBLISHER: The Business Research Company | PRODUCT CODE: 1409709
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409709
“Polymer Foam Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polymer foam market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polymer foam? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The polymer foam market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Polymer foam refers to a polymer material characterized by the presence of numerous tiny foam holes within the polymer matrix, resulting in a porous structure. These materials typically exhibit lower density and offer good sound and heat insulation properties. Polymer foam is commonly used as insulation material in various industries.
The main types of polymer foams include polyurethane foam, polystyrene foam, PVC foam, phenolic foam, polyolefin foam, melamine foam, and others. Polystyrene foam is a synthetic polymer with thermoplastic properties, derived from the petroleum-based monomer known as styrene. It is available in both flexible and rigid foam forms and finds applications in diverse industries such as packaging, building and construction, furniture and bedding, automotive, rail, wind, marine, and others.
The polymer foam market research report is one of a series of new reports from The Business Research Company that provides polymer foam optical components market statistics, including polymer foam optical components industry global market size, regional shares, competitors with a polymer foam optical components market share, detailed polymer foam optical components market segments, market trends and opportunities, and any further data you may need to thrive in the polymer foam optical components industry. This polymer foam optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polymer foam market size has grown strongly in recent years. It will grow from $107.36 billion in 2023 to $113.49 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historical period can be attributed to several factors, including the expansion of the construction and building industry, rising demand for consumer electronics, growth in the aerospace sector, increasing utilization in furniture and bedding applications, and the widespread use of polymer foams in medical and healthcare applications.
The polymer foam market size is expected to see strong growth in the next few years. It will grow to $141.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to urbanization trends in developing regions, the emergence of renewable and biodegradable polymer foams, a focus on disaster-resilient construction practices, the demand for high-performance insulation materials, and initiatives promoting energy efficiency. Major trends expected in the forecast period include advancements in polymer foam technologies, innovation in flexible foam products, the integration of nanotechnology for enhanced properties, the development of customized solutions tailored to specific end-use industries, and the adoption of smart packaging solutions.
The polymer foam market is poised for growth, primarily driven by the surge in building and construction activities. The construction sector, encompassing the building, repair, renovation, and maintenance of infrastructures, utilizes polymer foam for insulation, roofing, and sealant purposes. Polymer foam enhances a building's strength, aids in air-sealing, and contributes to improved insulation. The global construction output, reaching $10.7 trillion in 2020, is projected to grow by 42%, or $4.5 trillion, between 2020 and 2030, reaching $15.2 trillion. In the U.S., the residential construction sector is experiencing a notable rise, escalating demand for materials and labor, thereby driving up competition and costs. Total construction spending in the U.S. has seen a 16% increase since the onset of the pandemic, underscoring the significant impact of building and construction activities on the polymer foam market.
Another growth driver for the polymer foam market is the increasing sales of wood furniture. Polymer foam, particularly polyurethane foam, is employed in wood furniture as a substitute for real wood, replicating its appearance. This foam, composed of polyol and isocyanate, is available in varying densities to achieve different levels of hardness and durability. With the demand for wood furniture on the rise, evident in Finland's 9% increase in total round wood use to 85.2 million cubic meters in 2021, the polymer foam market is experiencing heightened growth. Additionally, the utilization of by-products and other wood waste increased by 17% over the previous year, further contributing to the polymer foam market's expansion.
Innovations in products stand out as a prominent trend in the polymer foam market, with major companies concentrating on the development of programmable and expandable polymer foams. For example, Desktop Metal introduced 'FreeFoam' in June 2021, a polymer foam designed with heat-activated foaming agents and manufactured using Digital Light Processing (DLP). This unique foam expands up to 2 to 7 times its original size, providing new design possibilities and delivering a high-strength-to-weight ratio suitable for light, high-performing parts in various applications, including automotive.
Companies in the polymer foam market are emphasizing bio-friendly solutions to adopt sustainable practices, utilizing approaches such as the mass balance approach. This approach tracks the flow of sustainable materials through complex value chains and is employed in various industries, including chemicals, plastics, and food. For instance, Sekisui Alveo launched Alveolit TA foam products in January 2021, featuring a certified sustainable polyolefin foam produced through a process combining traditional fossil-based polymer with an ISCC-certified sustainable polymer blend. This sustainable material is derived from biomass transformed using certified forest waste, reflecting a commitment to environmental responsibility and sustainable sourcing.
In March 2021, Recticel acquired FoamPartner, aligning resources to strengthen and expand Recticel's global presence in specialty foam solutions. FoamPartner, a Swiss-based provider of technical foams, including polymer foam, enhances Recticel's product offering, providing innovative engineered foam solutions and consolidating their positions in the industry.
Major companies operating in the polymer foam market report are Sealed Air Corporation, Arkema Group, Armacell International SA, Borealis AG, Polymer Technologies Inc, Zotefoams plc, Synthos S A, BASF SE, TotalEnergies SE, KANEKA CORPORATION, Toray Industries Inc, Saudi Basic Industries Corporation, Huntsman International LLC, SEKISUI ALVEO AG, Covestro AG, Fritz Nauer AG, Koepp Schaum GmbH, JSP Corporation, Lanxess AG, Tosoh Corporation, DowDuPont Inc., Recticel NV, Rogers Corporation, Woodbridge Foam Corporation, Trelleborg AB, BAE Systems Plc, Honeywell International Inc., Elbit Systems Ltd., Spongex, Genesys Aero systems .
Asia-Pacific was the largest region in the polymer foam market in 2023, and is expected to be the fastest-growing region in the polymer foam market during the forecast period. The regions covered in the polymer foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the polymer foam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The polymer foam market consists of sales of thermoplastic and thermoset foams, phenolformaldehyde and urea-formaldehyde foams. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.