Polymer Foam Market Research Report - Global Forecast till 2030

Global Polymer Foam Market Research Report: Information by Form (Flexible Foam and Rigid Foam), Product [Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC) and Others], Application (Building & Construction, Automotive, Packaging, Furniture, Wind Turbine Blade, and Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa)—Forecast till 2030

ID: MRFR/CnM/3532-HCR | October 2022 | Region: Global | 139 Pages         

Polymer Foam Market

The Polymer Foam Market Is Estimated To Grow At A Significant CAGR Of 7.73% With Marke Size Of USD 157.63 Billion During The Forecast Period (2021-2030)

Segmentation

By Form Flexible Foam Rigid Foam
By Product Polyurethane (Pu) Polystyrene (Ps) Polyethylene (Pe) Polypropylene (Pp) Polyvinyl Chloride (Pvc)
By Application Building & Construction Automotive Packaging Furniture Wind Turbine Blade

Key Players

  • BASF SE (Germany)
  • Armacell International S.A. (Germany)
  • Toray Industries Inc. (Japan)
  • Borealis AG (Austria)
  • Recticel NV (Belgium)
  • Polymer Technologies Inc. (US)
  • Rogers Corporation (US)
  • Arkema S.A. (France)
  • Total S.A. (US)
  • SABIC (Saudi Arabia)
  • Synthos S.A. (Poland)
  • Zotefoams plc (UK).

Drivers

  • The surging demand for the product from rapidly growing aerospace & defense and automotive industries
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Polymer Foam Market Overview


In 2019, the polymer foam market value is registered as USD 114.88 billion and is estimated to grow at a significant CAGR of 7.73% CAGR with the polymer foam market size of USD 157.63 billion during the forecast period (2021-2030).


Polymer foams are having superior properties like excellent strength to weight ratio, lightweight, good energy absorbance and also provides comfort due to their softness and flexibility. It also has acoustic & insulation capabilities, and fire resistance property makes them applicable for manufacturing insulation panels and flooring products. Plastic foams are produced by the matrix of air bubbles with the help of a blowing agent in the polymer base. These foams are produced using various techniques like injection molding, blow molding, extrusion, and slab stock by pouring.


COVID-19 Analysis:


The COVID-19 pandemic is negatively impacted various business sectors, as well as polymer foam, is also impacted drastically due to the hold of a large number of construction projects and suspended manufacturing facilities. To curb the spread of the virus, most of the emerging countries implemented lockdowns, bans of transportation, educational sectors off, and shut down manufacturing industries.


Due to the lockdowns all over the world and supply chain disruptions has declined the demand for polymer foam from end-use industries. Moreover, reduction in consumer spending and restrictions in material transportation is highly affecting the building & construction industry. The construction sector was critically impacted which leads to the decline in demand for polymer foam. However, by reducing the corona cases, most of the regions are implementing relaxations on the current regulations and rapidly industries are resuming their works, which regains the profits.


Market Dynamics:


Drivers:


Growing demand for the product from rapidly increasing aerospace & defense and automotive industries. Increasing the application of polymer foam in business and construction activities, rising demand in electronics packaging, and growing disposable income are the factors boosting the polymer foam market growth. Rising the application in manufacturing of furniture items like sofas, office chairs, and bean bags are fostering the market growth.


Growing the global geriatric population in countries like Japan, and Germany leads to an increase in demand for memory foam-based bedding products like mattresses and cushions is escalating the market growth. The rising influence of sustainable building materials is increasing the demand for building materials which contributes to the energy efficiency of buildings. The household applications like freezer, furniture, bedding, insulation, and refrigeration are fueling the market growth in European countries like the U.K, Germany, Poland, and Sweden.


Restraint:


Volatility in raw material prices like crude oil and the cost-intensive nature of polymer foam is restraining the market growth. When polymer products are produced from resins like polyurethane (PU), polyethylene (PE), and Polystyrene (PS), they are infamous for being non-biodegradable.


Opportunities:


Rising focus on the generation and use of renewable energy for reducing the global carbon footprint is the opportunity to boost the market growth. The technological advancements in polymer foam may create an opportunity to boost the market growth.


Challenges:


The availability of eco-friendly substitutes is the major challenge of the market. Restrictions on the usage of polymer-based products including foams which limit the demand for plastic-based foams in the forecast period.


Study Objectives -



  • To provide detailed information about the polymer foam market structure along with various forecast segments and subsegments for the next 10 years.

  • To provide the factors that are affecting the growth of the polymer foam market value.

  • To analyze the polymer foam market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the polymer foam market revenue for the main geographies.

  • To provide the country-level analysis of the current polymer foam market size and future prospective.

  • To provide country-level analysis of the polymer foam market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global polymer foam market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global polymer foam market research.


Segment Overview:


The global polymer foam market has been divided into segments based on product, form, application, and region.


Based on Product


The global polymer foam market based on the product is classified into various types such as polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PL), polyvinyl chloride (PVC), and others. The polyurethane (PU) segment is holding the highest CAGR due to its superior properties like low water absorption, low density, low heat conduction efficiency, better mechanical strength, and insulating properties. PU foam is available in three wide ranges of rigidity, hardness, and density levels. Low-density flexible foams are preferred in various applications like bedding, automotive and truck seating, upholstery, and novel inorganic plant substrates for roof or wall gardens and are also used in thermal insulation and RTM cores.


Based on Form


By form, the polymer foam market is bifurcated into flexible foam and rigid foam.


Based on Application


The polymer foam application is analyzed into few types as automotive, packaging, building & construction, packaging, furniture, wind turbine blade, and others.  Among them, the building & construction industry is holding the highest share for the PU properties like its low heat conduction efficiency, low water absorption, low density, better mechanical strength, and insulating properties. The construction industry is severely affected by the pandemic. PU is used in the building & construction for insulation.


In the US, The National Association of Home Builders (NAHB) states that during the first two quarters, the GDP growth rate is expected to be negative and is expected that fourth quarter of 2020, the growth rate is rebounded.


Based on Region


Region-wise, the global polymer foam market is divided into five main geographies like Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among them, Asia-Pacific is accounted for the largest market share due to the high demand for composite materials in the rising automotive, consumer electronics, and wind turbines.


Regional Analysis -


Geographically, the polymer foam market is segmented into five major regions such as Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa. Owing to the high demand for composite materials in the increasing automotive, consumer electronics, and wind turbines, Asia-Pacific is dominating the maximum polymer foam market share during the review period. Moreover, the favorable government policies regarding the renewable energy and construction industries’ growth are driving the market growth in this region.


North America is holding the substantial growth and is predicted to grow with a maximum CAGR in the assessment period due to the growing demand from the well-established industries aerospace & defense, and automotive industries. Due to growing demand for the product in the automotive and energy sectors, Europe is holding the highest share. 


Competitive Landscape


The prominent key players in the polymer foam market outlook are the following:



  • BASF SE (Germany)

  • Armacell International S.A. (Germany)

  • Toray Industries, Inc. (Japan)

  • Borealis AG (Austria)

  • Recticel NV (Belgium)

  • Polymer Technologies, Inc. (US)

  • Rogers Corporation (US)

  • Arkema S.A. (France)

  • Total S.A. (US)

  • SABIC (Saudi Arabia)

  • Synthos S.A. (Poland)

  • Zotefoams plc (UK).


Recent Developments



  • In November 2018, in Rayong, Thailand, the famous enterpriser, the Dow Chemical Company started the polyol plant for rigid PU foam. Polyol is a raw material for polymer foam. This polyol plant is predicted to rise the company’s capacity to provide high-quality insulation products and solutions.

  • In March 2019, one of the leading key players, BASF expands its regional innovation capabilities with the latest technological features at the Innovation Campus Shanghai for strengthening the collaboration with the automotive industry and for providing the latest catalysts to the chemical industry. The Automotive Application Center and the Process Catalysis Research and Development Center are facilitated with an investment of nearly USD 38.0 million in the 5000 square meter facility. An awesome innovation is Polyurethane integral foam solutions that provide unique performance which is lightweight, excellent sound insulation, and flame resistance.


Report Overview:


This global polymer foam market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the polymer foam market drivers, restraints, challenges, and opportunities. The polymer foam market forecast segments are product, form, application, and region.


Segmentation Table


The polymer foam market trends have been segmented globally based on the product, form, application, and region.


By Product


Polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PL), polyvinyl chloride (PVC), and others.


By Form


Flexible foam and rigid foam.


By Application


Automotive, packaging, building & construction, packaging, furniture, wind turbine blade, and others are the few applications.


By Region


Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the polymer foam market.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 157.63 Billion
  CAGR   7.73% (2021–2030)
  Base Year   2020
  Forecast Period   2021-2030
  Historical Data   2019
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Form, Product, Application and Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Armacell International S.A. (Germany), Toray Industries, Inc. (Japan), Borealis AG (Austria), Recticel NV (Belgium), Polymer Technologies, Inc. (US), Rogers Corporation (US), Arkema S.A. (France), Total S.A. (US), SABIC (Saudi Arabia), Synthos S.A. (Poland), and Zotefoams plc (UK).
  Key Market Opportunities   Increasing focus over the generation and use of renewable energy to reduce the global carbon footprint
  Key Market Drivers   The surging demand for the product from rapidly growing aerospace & defense and automotive industries


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Frequently Asked Questions (FAQ) :

Polymer Foam Market valuation was USD 157.63 billion.

Major factors handling the Polymer Foam Market are aerospace & defense and automotive.

The market growth could be hindered by cost-intensive thermoplastic composites.

The Polymer Foam Market would be dominated by the Asia Pacific region.