Overview and Scope
Industrial foam is an expanded plastic and rubber created by forcing gas bubbles into a polymer material. Industrial foam is highly-efficient for insulation against water, air, chemical substances, and adhesives. Industrial foam is used as padding for several consumer and business products, such as mattresses, furniture, car interiors, carpet underlay, and packaging.
Sizing and Forecast
The industrial foam market size has grown strongly in recent years. It will grow from $63.14 billion in 2023 to $68.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to research and development, cost-effective material solutions, globalization and market expansion, transportation and aerospace, environmental concerns and sustainability..
The industrial foam market size is expected to see strong growth in the next few years. It will grow to $91.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to construction industry growth, sustainable materials and eco-friendly solutions, rising automotive sector, packaging innovations, energy efficiency in buildings.. Major trends in the forecast period include circular economy initiatives, furniture and bedding preferences, electronics and electrical applications, healthcare and medical innovations, stringent regulatory compliance..
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Segmentation & Regional Insights
The industrial foam market covered in this report is segmented –
1) By Foam Type: Flexible, Rigid
2) By Resin Type: Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, Other Resin Types
3) By End-Use: Building And Construction, HVAC, Industrial Pipe Insulation, Marine, Aerospace, Industrial Cold Storage, Others End-Uses
Asia-Pacific was the largest region in the industrial foam market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing demand for energy-efficient and lightweight materials is expected to propel the industrial foam market. Lightweight materials are manufactured using lightweight raw materials that directly reduce the weight of the material while maintaining its performance. Industrial foam is a type of lightweight material made up of tiny cells filled with gas or air and used in applications such as insulation, packaging, and construction. For instance, in July 2021, according to a report released by EuroAccess, a France-based online information and search tool, the manufacturing costs of lightweight materials are 25% less than current materials. Lightweight products comprise more than 50% sustainable and bio-based components. The various properties of energy-efficient and lightweight materials, including sustainability and high performance, are increasing the demand for industrial foams by various industries. Therefore, the growing demand for energy-efficient and lightweight materials is driving the growth of the industrial foam market.
Key Industry Players
Major companies operating in the industrial foam market report are Covestro AG, BASF SE, Dow Inc., Huntsman Corporation, Sekisui Chemical Co. Ltd., Saint-Gobain S.A., Chemtura Corporation, Recticel N.V, Rogers Corporation, Trelleborg AB, FoamPartner Group, Eurofoam Group, Woodbridge Foam Corporation, Tosoh Corporation, Hanwha Chemical Corporation, ACH Foam Technologies LLC, Arkema, Mitsui Chemicals Inc., Toray Industries, Sealed Air Corporationfv, Zotefoams plc, Armacell International S.A., Future Foam Inc., FXI Inc., General Plastics Manufacturing Company, Graco Inc., Greiner Holding AG, INOAC Corporation, JSP Corporation, Kaneka Corporation
The industrial foam market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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