Polymer Foam Market Players: Arkema Group, BASF SE, Borealis AG, And Fritz Nauer AG
Polymer Foam Industry Overview
The global polymer foam market size is expected to reach USD 170.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.6% from 2022 to 2030. Rising demand from the automotive and building and construction industries is likely to drive the market. 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.
Rigid types are primarily used as insulation material in construction and refrigeration applications. They are energy-efficient and help in cutting energy costs. Flexible types are mainly used as cushioning material in transportation, furniture, bedding, carpet underlay, and packaging, among others.
The rising focus on the development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. The manufacturing cost of these biodegradable types is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.
On the basis of type, polystyrene foam was the largest segment in 2021 and accounted for more than 30.0% share of the global revenue. Expanded polystyrene-based products have excellent shock absorbing properties and are preferred in storing, packaging, and transporting electrical equipment, cooked food, and perishable goods. They are also preferred in various marine floatation applications, including the construction of floating docks, surfboards, and boat stands.
Polyolefin foams including polypropylene and polyethylene are expected to witness significant expansion in the forthcoming years.
Lithium-ion Battery Market Segmentation
Grand View Research has segmented the global polymer foam market on the basis of type, application, and region:
Based on the Type Insights, the market is segmented into Polyurethane Foam, Polystyrene Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam, 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 type is used in various applications, including furniture, cushions, and carpets. It has a wide customer base owing to its superior capabilities, such as lightweight, low heat and sound transfer, high-energy dissipation, and insulation.
- Expanded polystyrene foam is one of the lightest materials and on account of its high strength to weight ratio, it is used in packaging applications as it results in low fuel consumption and transport cost savings. It can also be used in rail applications, such as the construction of train station platform extensions and rail embankment. 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 & Constructions, 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 furniture and bedding segment is expected to witness growth owing to increasing applications, such as carpet padding, fibers, chair cushions, mattress padding, and furniture.
- 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. The recovery of the U.S. automobile sector, coupled with the increasing automotive demand in the emerging economies of India and China, is expected to have a positive impact on the overall market growth. Packaging is expected to follow the automotive segment and is likely to witness significant growth owing to surging demand for polystyrene foams from the packaging sector.
Polymer Foam Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
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. The market players offer a wide variety of polymer foams based on polyurethane, polyethylene, polyether, and expanded polystyrene and serve a broad range of markets, such as construction, wind energy, automotive, mass transportation, marine, and packaging.
The market is characterized by forward integration through raw material production, polymer foam manufacture, and distribution to various application industries. Integration across the stages of the value chain results in continuous raw material supply as well as low manufacturing costs. R&D initiatives by a few companies to enhance their type specifications and market reach are expected to further augment the type demand in the years to come.
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment