New Jersey, NJ,, July 15, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Polymer Foam Market by Type (Polyurethane, Polystyrene, Polyolefin, Melamine, Phenolic, PVC, Others), Application, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026". As per the report, the global polymer foam market is expected to grow from USD 112.45 Billion in 2018 to USD 154.65 Billion by 2026, at a CAGR of 4.06% during the forecast period 2019-2026. Rising demand for the polymeric foam materials from the automobile, shipping, and construction sector, growing demand for the lightweight fuel efficient cars globally, and growing application in the wind energy sector are the dynamics that led to the growth of the global polymer foam market.
Polymer foam in its simplest form is a mixture of solid and gas phases of a polymer. Polymer foams are obtained by incorporating gas into a solid phase resulting into smooth, fluid like material. This final product has polymer matrix with air tunnels acting like a porous structure. Polymeric foams are commonly used in structural applications due to the weight saving and stiffening capabilities they can offer in the design. These materials are extremely lightweight and versatile, corrosion resistant, highly durable, mildew resistant, and dermatologically-friendly. Thus, making them useful in various application industries. Growing demand for the polymeric foam materials from the automobile, shipping, and construction sector is expected to fuel the growth of the market over the forecast period.
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Global Polymer Foam Market Key Findings:
- Factors propelling the growth of the market include global demand for the lightweight fuel efficient cars, increasing demand from the construction sector, and growing application in the wind energy sector. Conversely, the volatility in the raw material prices and environmental concerns related to the polymer foam manufacturing process may limit the growth of the global polymer foam market over the forecast period.
- Development of biodegradable polymer foam and burgeoning demand from the Asia Pacific region is anticipated to open new opportunities for the global polymer foam market. The growing environmental concerns related to the polymer foam manufacturing process is the major challenge for the global polymer foam market.
- The type segment is divided into polyurethane, polystyrene, PVC, phenolic, polyolefin, melamine, and others. The polyurethane foam segment dominated the global polymer foam market by accounting highest revenue around USD 60.63 billion in 2018 and is expected to maintain its dominance by growing with the highest CAGR during the forecast period. The polyurethane foams are widely utilized in various industries owing to their superior lightweight, low heat and sound transfer, high-energy dissipation, and insulation properties. The polyurethane type of polymer foam are widely consumed in the automotive, building & construction, and marine applications due to their load bearing and high resistance features. In addition, polyurethane are recyclable, light in weight, flexible, and resistant to erosion and vibration.
- The application segment contains packaging, building & constructions, furniture & bedding, automotive, rail, wind, marine, and others. Polymer foams are progressively being used in various automotive components, such as seats, dashboards, power trains, and suspension bushings. Thus, the rising worldwide demand for the automobiles is projected to fuel the automotive application segment to grow at the highest CAGR of 6.12% over the forecast period. However, building & construction segment dominated the global polymer foam market by accounting highest market size during the forecast period. This is due to increasing applications of polymer foam for insulation and as sealants in construction applications.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerge as the largest market for the polymer foam with a 40.28% share of market revenue in 2018.
- Huge ongoing construction activities in the residential and commercial sectors along with rising demand for the automobiles are generating a huge demand for the polymer foams. As a result, the Asia Pacific region dominated the global polymer foam market in 2018.
- North America also held a robust share of the global polymer foam market in 2018. The growth within the region is being led by the growing demand for the polymer foam from the wind energy, construction and automotive sector in the US.
- For instance in 2018, Dow Polyurethanes, a business division of DowDuPont announced the launch of a new range of co-polymer polyols (CPPs) to address the demand and diverse requirements of the flex foam industry. The four new CPPs on offer—VORALUXTM HL 500; VORALUXTM HL 510; VORALUXTM HL 515; VORALUXTM HL 525—will represent a high class for flex foam applications. The range will aim to address the requirements for low emissions found in Automotive, Bedding and Furniture sectors, having a broad processing range that will yield foam consistency and high solids content for efficient load-bearing properties.
- For instance in 2017, Addivant™ launched NAUGARD® FOAMPLUS, new ultra-low emissive antioxidant solutions for flexible polyurethane foams in automotive applications. NAUGARD® FOAMPLUS LE portfolio comprises ultra-low emissive stabilization packages enabling the entire value chain to be compliant with the ever-stricter national legislations on vehicle indoor air quality (VIAQ).
- For instance, in 2017, Sabic launched two new polymer foam grades named SABIC LDPE HP2024JDF and HP2024ND. These products were primarily intended for the Middle East, African, and Asian markets for physical extrusion foam.
- Key players in the global polymer foam market are 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., Bayer AG, Covestro, DowDuPont, Inc., Trelleborg AB, Zotefoams plc, Woodbridge Foam Corporation, and Sealed Air Corporation among others.
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global polymer foam market on the basis of below mentioned segments:
Global Polymer Foam Market by Type:
- Polyurethane
- Polystyrene
- PVC
- Phenolic
- Polyolefin
- Melamine
- Others
Global Polymer Foam Market by Application:
- Packaging
- Building & Constructions
- Furniture & Bedding
- Automotive
- Rail
- Wind
- Marine
- Others
Global Polymer Foam Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
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