Global Polymer Foam Market Size & Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Polymer Foam Market


The global Polymer Foam market size is projected to reach US$ 150.15 billion by 2026, from US$ 118.66 billion in 2020, at a CAGR of 4% during 2021-2026.Growing applications in various industries, such as packaging, furniture and bedding, and automotive industries, are expected to drive the product demand.

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 building and construction, automotive, and marine industries. Polyurethane (PU) foams are durable, lightweight, versatile, and resistant to corrosion and vibration, recyclable, and offer high level of freedom in geometric design. PU 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.

Environmental benefits of the PU 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 detrimental health effects of isocyanates utilized in polyurethane production.
Significant technological advancements, such as introduction of bio-based polyols and non-toxic isocyanates, are also likely to promote PU foams demand 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 to improve production yield.

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

Government support in the form of tax incentives and subsidy schemes to encourage the manufacturing sector in these countries is also likely to promote demand for bio-based PU to replace environmentally harmful crude oil based solvents. Initiatives such as Make in India by the Indian government seek to facilitate investments and encourage domestic production. This is expected to generate high returns for companies investing in high potential products, such as polyurethane, polystyrene, and PVC foams, especially with the introduction of their bio-based counterparts.

Market Segmentation, Outlook & Viewpoint: Global Polymer Foam Market

Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Polyurethane
  
Polystyrene
  
PVC
  
Phenolic
  
Polyolefin
  
Melamine
  
Others

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Packaging
  
Building & Constructions
  
Furniture & Bedding
  
Automotive
  
Rail
  
Wind
  
Marine
  
Others

Key Players, Recent Developments & Regional Insights: Global Polymer Foam Market

Building and construction was the largest segment owing to rising applications of polymer foam for insulation purposes, flooring, pipe, molding, and in wire and cables. Furniture and bedding will remain the second largest segment owing to increasing applications, such as carpet padding, fibers, chair cushions, mattress padding, and furniture.

Automotive is estimated to be one of the fastest-growing segments over the forecast period on account of increasing use in various automotive components, such as seats, dashboards, power trains, and suspension bushings. Recovery of the U.S. automobile sector, coupled with increasing automotive production in 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.

Regional Insights

The U.S. polymer foam market was driven by rising demand for polyurethane and polystyrene foams in building and construction and marine applications and PVC foam in wind energy applications. According to the U.S. Department of Housing and Urban Development, the new residential housing completions increased from approximately 900 thousand units in 2014 to 1,200 thousand units in 2018. This steady rise in residential units had driven the demand from building and construction application.

Asia Pacific was the largest regional market and accounted for 39.54% share of the global revenue in 2018. Positive outlook for the manufacturing industry in light of increasing focus on research and development, coupled with favorable government initiatives to attract investments, is expected to result in regional market expansion.
Growing industrialization, production of automobile interiors or parts, and packaging industries in emerging economies, such as India and China, are expected to boost demand over the forecast period. Rising foreign direct investment is expected to contribute to investments in these sectors.

Polymer Foam Market Share Insights

The market is fragmented in nature with various regional players, such as CIRES SpA, Sealed Air, Vulcan Corporation, and Premier Foam, and well-established global manufacturers, including DowDuPont Inc.; BASF SE; and Armacell International S.A. Majority of the manufacturers are based in North America and Europe and therefore these regions witness 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.

Recticel, Armacell International S.A., JSP Corporation, Zotefoams, and FoamPartner are among the leading manufacturers. Companies such as Armacell, Recticel, Zotefoams, BASF, DowDuPont, and Trelleborg have well-established presence in North America and Europe with respect to the consumers in marine, rail, renewable energy, and construction markets. While manufacturers such as Sekisui, and JSP Corporation predominantly have presence in Asia and cater to the consumers in Asia Pacific.

Key Insights Covered: Global Polymer Foam Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Polymer Foam industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Polymer Foam industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Polymer Foam industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Polymer Foam industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Polymer Foam industry.

Research Methodology: Global Polymer Foam Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other