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Polymer Foam Market Size Worth $170.1 Billion By 2030, Due To Growing Applications In Various Industries Such As Packaging, Furniture & Bedding, And Automotive | Grand View Research, Inc.

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Polymer Foam Market Size Worth $170.1 Billion By 2030, Due To Growing Applications In Various Industries Such As Packaging, Furniture & Bedding, And Automotive | Grand View Research, Inc.

May 19
07:52 2022
Polymer Foam Market Size Worth $170.1 Billion By 2030, Due To Growing Applications In Various Industries Such As Packaging, Furniture & Bedding, And Automotive | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to a new report published by Grand View Research, Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging, among other applications.

Polymer Foam Industry Overview

The global polymer foam market size was valued at USD 123.1 billion in 2021 and is expected to reach USD 170.1 billion by 2030, exhibiting a CAGR of 3.6% over the forecast period. Growing applications in various industries, such as packaging, furniture and bedding, and automotive industries, are expected to drive the demand for polymer foam. Polymer foams are extremely lightweight and versatile, highly durable, mildew resistant, and dermatologically friendly. These properties make them safe and recommendable for numerous consumer applications. Polyurethane-based foams are widely used in the building and construction, automotive, and marine industries.

Polyurethane (PU) foams are durable, lightweight, versatile, resistant to corrosion and vibration, recyclable, and offer a high level of freedom in geometric design. PU foams are increasingly used in various passenger car seat cushions, gasket seals, arm rests, head rests, cushioned instrument panels, airbags, and other components to create lightweight, fuel-efficient, and durable structures. Owing to the above factors and their broad application scope, polyurethane foams are expected to witness significant demand in the Asia Pacific automotive industry.

Gather more insights about the market drivers, restrains and growth of the Global Polymer Foam Market

Environmental benefits of the polymer foam include high recyclability, clean incineration for pollutant filtration, reduced wastage, and greater sustainability. However, several governments and federal agencies are increasingly raising concerns regarding the detrimental health effects of isocyanates utilized in polyurethane production. Significant technological advancements, such as the introduction of bio-based polyols and non-toxic isocyanates, are also likely to promote the demand for polymer foams in several applications.

Existing and new market entrants are thus compelled to innovate or improve their current production processes to gain higher margins in this extremely competitive industry. Major multinationals such as Bayer and the Dow Chemical Company have developed innovative manufacturing processes and raw materials to reduce dependence on conventional fossil-fuel based resources and improve production yield.

U.S. polymer foam market size, by type, 2020 - 2030 (USD Billion)

Emerging markets across Asia Pacific are gearing up their production facilities to meet the ever-growing demand from the burgeoning population. Countries such as China and India with high GDP growth rates are expected to witness rapid expansion in the automotive, construction, pharmaceuticals, and manufacturing sectors. These factors are likely to foster demand in several related applications.

 
Polymer Foam Market Segmentation

Based on the Type Insights, the market is segmented into Polyurethane, Polystyrene, PVC, Phenolic, Polyolefin, Melamine, and Others.

  • Polystyrene foam was the largest type segment with a revenue share of more than 30.0% in 2021. It is expected to maintain its lead throughout the forecast period.
  • The rail infrastructure construction projects in Asia Pacific and the Middle East and Africa are expected to drive the demand for polystyrene foam over the forecast period.

 

Based on the Application Insights, the market is segmented into Packaging, Building & Construction, Furniture & Bedding, Automotive, Rail, Wind, Marine, and Others.

  • The building and construction segment held the largest revenue share of more than 30.0% in 2021 owing to the rising applications of polymer foam for insulation purposes, flooring, pipe, molding, and in wire and cables.
  • The automotive segment is estimated to witness lucrative growth over the forecast period on account of the increasing product use in various automotive components, such as seats, dashboards, power trains, and suspension bushings.

Based on the Polymer Foam Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

  • Asia Pacific was the largest regional market and accounted for more than 35.0% share of the global revenue in 2021.
  • The U.S. market for polymer foam is driven by the rising demand for polyurethane and polystyrene foams in building and construction and marine applications and PVC foam in wind energy applications.

 

Browse through Grand View Research’s Paints, Coatings & Printing Inks Industry Research Reports.

  • Polyurethane Dispersion (PUD) Market – Global polyurethane dispersion market size exceeded 290 kilo tons in 2014. Leather and textile industry were major end-use application industries in 2014. Growing leather and textile products demand in daily life as well as the fashion industry is expected to drive the global market over the forecast period.
  • Optical Coating Market – The global optical coating market size was valued at USD 17.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of more than 9.2% from 2022 to 2030. Recent technological advancements in the field of optical deposition techniques and fabrication coupled with rising demand for efficient optical devices in end-use applications are expected to drive the market over the forecast period.

 

Market Share Insights:

  • March 2019: BASF enhanced its regional innovation capabilities with new facilities at the Innovation Campus Shanghai to further strengthen collaboration with the automotive industry and to offer new process catalysts to the chemical industry.
  • November 2018: The Dow Chemical Company announced the opening of a polyol (a raw material for polymer foam) plant for rigid PU foam in Rayong, Thailand. This facility is expected to increase the company’s capacity to offer high-quality insulation products and solutions.

 

Key Companies Profile:

The market is fragmented in nature with various regional players and well-established global manufacturers. The majority of the manufacturers are based in North America and Europe and therefore these regions witness the high competition.

Some prominent players in the global polymer foam market include:

  • Arkema Group
  • Armacell International S.A.
  • BASF SE
  • Borealis AG
  • Fritz Nauer AG
  • Koepp Schaum GmbH
  • JSP Corporation
  • Polymer Technologies, Inc.
  • Recticel NV
  • Rogers Corporation
  • SEKISUI ALVEO AG
  • Synthos S.A.
  • DowDuPont, Inc.
  • Trelleborg AB
  • Zotefoams plc
  • Woodbridge Foam Corporation
  • Sealed Air Corporation

 
Order a free sample PDF of the Polymer Foam Market Intelligence Study, published by Grand View Research.

 
About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Web: https://www.grandviewresearch.com

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