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Report Overview: Europe Polyolefin Foam MarketThe European polyolefin foam market size was valued at USD 3.0 billion in 2020 and is expected to register a revenue-based CAGR of 4.7% over the forecast period 2021-2027. Polyolefin foam is widely used in various industries, including automotive, consumer goods, packaging, and others on account of its properties, such as high strength, lightweight, buoyancy, resistance to high temperature, and energy absorption. The growth of the construction industry in Europe is a significant factor propelling the demand for polyolefin foam. Increasing construction activities in Ireland and the Netherlands, growing urbanization in the eastern European countries, and rising public spending on infrastructure in Germany, Italy, and U.K. are majorly fueling the growth of the construction industry in Europe. This, in turn, is likely to have a positive impact on the demand for polyolefin foam in Europe. Moreover, rising demand for green buildings owing to stringent environmental regulations is anticipated to drive the construction industry, thereby boosting the polyolefin foam market growth in Europe. In December 2019, the Federation of the German Construction Industry (HBD) announced in Berlin that it aims to build approximately 375,000 new apartments by 2021 and 310,000 new building units by the end of 2020. The construction industry in the country is majorly driven by housing sectors owing to rising income, stable labor market, and a continuous rise in the number of people migrating to big cities. In addition, the ongoing transition to a sustainable energy system in the country is fueling the demand for green buildings in Germany. Thus, the growing construction industry in the country is expected to create ample growth opportunities for the European polyolefin foam market over the forecast period. Positive developments in regional economic conditions and investments by the government in the infrastructure sector in France are fueling the growth of the construction industry, which, in turn, are expected to contribute to the growth of polyolefin foam market in Europe. In addition, rising inclination towards green buildings in the country owing to the concerns over carbon emissions is expected to create lucrative growth opportunities for the construction industry, thereby propelling the demand for polyolefin foam in France in the coming years. However, fluctuating raw material prices are anticipated to hamper the market growth in Europe over the forecast period.
Application Insights: Europe Polyolefin Foam MarketMajor applications of polyolefin foam are building & construction, automotive, packaging, consumer goods, and others. Building & construction was the largest application segment in 2019. Demand for polyolefin foam is expected to be high in this application segment owing to its beneficial characteristics, including excellent sound & thermal insulation, strength-to-weight ratio, load-bearing capacity, chemical resistance, and others. Various governments in Europe are spending on infrastructure, thereby propelling the polyolefin foam demand in Europe over the forecast period. For instance, in March 2019, Germany’s Finance Ministry announced to spend more than USD 170 billion on infrastructure, housing, education, and digital technology over the next four years. In addition, initiatives by the EU, such as Horizon 2020, in order to achieve energy efficiency in the residential and commercial buildings, are significantly contributing to the demand for polyolefin foam in building and construction in Europe.
Country Insights: Europe Polyolefin Foam MarketGermany lead the market for polyolefin foam in Europe with over 21.15% share of the overall revenue in 2019, followed by the rest of Europe. Properties of polyolefin foam such as impact resistance, thermal insulation, heat and chemical resistance, and high strength-to-weight ratio have expanded the application scope of polyolefin foam in a wide range of industries, including packaging, automotive components, consumer goods, and various others. The presence of numerous manufacturers in Germany and the availability of skilled labor have increased the consumption of polyolefin foam in the country. In addition, the growing construction industry is anticipated to create huge demand for polyolefin foam in the country over the forecast period. Increasing investments in housing units, industrial buildings, and infrastructures, such as roadway networks, bridges, and railways, are propelling the growth of the construction industry in the country.
Europe Polyolefin Foam Market Share Insights: Europe Polyolefin Foam MarketThe market in Europe has been characterized by intense competition owing to the presence of several key players, such as
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Building & Construction
- Consumer Goods
Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research scope and assumptions 1.3 Information Procurement 1.3.1 Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2 IFF Internal Database 1.3.3 Secondary Sources 1.3.4 Third Party Perspective 1.3.5 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models | read more...