Global Polymer Foam Market is expected to foresee significant growth. APAC to lead the growth!

A dispersion of gas in a polymer matrix called polymer foam. There are at least two phases in it: a solid phase and a gaseous phase. Foams made of polymers have a high strength-to-weight ratio and are lightweight. Energy absorption and greater thermal and acoustic insulation are two benefits of employing polymer foams. Polymer foams are an excellent material choice for insulating infrastructure and buildings because of these advantages. The market for polymer foam is thus anticipated to be driven by an increase in construction projects and reconstruction activities.

The Polymer Foam Market is expected to grow at a steady rate of around 4% during the forecast period (2022-2028) owing to the increasing applications in automotive, building, and packaging. Thus, in order to increase their margins in this fiercely competitive market, both established players and newcomers are forced to innovate or improve their current production methods. Major multinational corporations like Bayer and Dow Chemical have created novel manufacturing techniques and raw materials to cut back on their reliance on traditional fossil fuel-based resources and increase production yield.

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Based on type, the market is segmented into polyurethane, polystyrene, polyolefin, phenolic, and others. During the projected period, it is anticipated that the polystyrene and polyolefin segments will grow at a high CAGR rate. High impact resistance and strong load bearing capacity are two characteristics of polyurethane foams that are likely to increase their use in the building sector. It is anticipated that the use of polystyrene foam in the packaging industry would increase as a result of its desirable properties, including light weight, stiffness, and great thermal insulation.

Based on application, the market is segmented into building & construction, packaging, automotive, furniture & bedding, footwear, and others. Because more products are being used in seats, dashboards, power trains, and suspension bushings, the automotive sector is anticipated to increase profitably over the course of the projection period. The expansion of the market is anticipated to be positively impacted by the U.S. car industry’s recovery and rising automotive demand in China and India, two emerging economies. The packaging industry is anticipated to increase significantly after the automobile industry as a result of the booming need for polystyrene foams in this industry.

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For a better understanding of the market adoption of the polymer foam industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period due to rise in per capita income of people and increase in urbanization in the region. These elements have increased peoples’ purchasing power, which in turn has increased demand for housing and automobiles in the area. Polymer foams are largely used in the construction of various vehicle parts and to lighten the weight of the structure. It is anticipated that government initiatives like the Smart Cities Mission will strengthen India’s construction sector. The market for polymer foams in the nation is expected to grow as a result.

Some of the major players operating in the market include SABIC; BASF SE; Covestro AG; Sealed Air Corporation; Recticel NV; Rogers Corporation; Kaneka Corporation; DowDuPont Inc.; Polymer Technologies, Inc.; and Armacell International S.A.

Global Polymer Foam Market Segmentation

Market Insight, by Type

• Polyurethane
• Polystyrene• Polyolefin• Phenolic• Others

Market Insight, by Application

• Building & Construction
• Packaging
• Automotive
• Furniture & Bedding
• Footwear
• Others

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• SABIC
• BASF SE
• Covestro AG
• Sealed Air Corporation
• Recticel NV
• Rogers Corporation
• Kaneka Corporation
• DowDuPont Inc.
• Polymer Technologies, Inc.
• Armacell International S.A;