Overview and Scope
Polymer foam refers to polymer material in which a polymer matrix contains a large number of tiny foam holes inside and that is also known as a porous polymer material. They have lower density with good sound and heat insulations. Polymer foam is used as insulation materials in many industries.
Sizing and Forecast
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 in the historic period can be attributed to growth in construction and building industry, consumer electronics demand, expansion of aerospace industry, increasing use in furniture and bedding, 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 growth in the forecast period can be attributed to urbanization in developing regions, renewable and biodegradable polymer foams, focus on disaster-resilient construction, demand for high-performance insulation, energy efficiency initiatives.. Major trends in the forecast period include advancements in polymer foam technologies, innovation in flexible foam products, integration of nanotechnology, customized solutions for end-use industries, smart packaging solutions..
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Segmentation & Regional Insights
The polymer foam market covered in this report is segmented –
1) By Type: Polyurethane Foam, Polystyrene Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam, Other Types
2) By Form: Flexible Foam, Rigid Foam
3) By Application: Packaging, Building And Construction, Furniture And Bedding, Automotive, Rail, Wind, Marine, Other Applications
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
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Major Driver Impacting Market Growth
The growth of building and construction activities is expected to propel the polymer foam market going forward. Building and construction refer to the manufacturing and trade related to building, repairing, renovating, and maintaining infrastructures. They are involved in the construction of buildings and the assembly of any infrastructure at a site. Polymer is used as insulation, roofing, and sealant material in building and construction and they help in air-sealing and insulating the buildings and improve a building’s strength, so an increase in building and construction activities will propel the market growth. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42 %, or $4.5 trillion, to reach USD 15.2 trillion. Furthermore, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic’s onset. Therefore, the growth of building and construction activities is driving the polymer foam market.
Key Industry Players
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 .
The polymer foam market report table of contents includes:
1. Executive Summary
2. Polymer Foam Market Characteristics
3. Polymer Foam Market Trends And Strategies
4. Polymer Foam Market – Macro Economic Scenario
5. Global Polymer Foam Market Size and Growth
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31. Global Polymer Foam Market Competitive Benchmarking
32. Global Polymer Foam Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polymer Foam Market
34. Polymer Foam Market Future Outlook and Potential Analysis
35. Appendix
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