Global Polymer Foam Market is Segmented By Form (Flexible Foam, Rigid Foam), By Product (Polystyrene, Polyurethane (PU), Polypropylene (PP), Polyvinyl Chloride (PVC), Others), By Application (Automotive & Transportation, Building & Construction, Furniture & Bedding, Packaging, Footwear, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Polymer Foam Market Overview
The Global "Polymer Foams Market" is Expected to reach at a high CAGR of 6.3% during the forecast period (2024-2031).
Polymer foam is a foam created from different polymeric structures and can be in either liquid or solid foam. Most of the polymer foams are created from polyurethane, polystyrene, polypropylene, polyvinyl chloride, polyethylene, and many natural elastomers such as rubber and silicone. Polymer foams have good physical properties such as low density, high thermal resistance, heat and sound insulation, high specific strength, and corrosion resistance. Due to these properties, polymer foams find various applications in civil and industrial engineering.
Polymer Foam Market Scope
|
Metrics |
Details |
|
Market CAGR |
6.3% |
|
Segments Covered |
By Form, By Product, By Application, and By Region |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
|
Fastest Growing Region |
Asia Pacific |
|
Largest Market Share |
Asia Pacific |
To Get a Free Sample Click here
Source: DataM Intelligence Analysis (2023)
Polymer Foam Market Dynamics
The demand for polymer foams is mainly driven by the rising demand from end-use applications, especially polyurethane and polystyrene foam. It is the most important driver for the market. The sustainability concerns raised by the widespread use of polymer foam are key factors in limiting the growth of this market.
Increasing demand from end-use applications
Polymer foams have wide-ranging industrial and engineering applications. Polyurethane foam is used to make kitchen cleaning sponges. Flexible polyurethane foam is used for making furniture cushions, seat cushions, automotive interior trims, and mattress paddings. Polyurethane foam is used as an insulating foam in construction and as a construction sealant and fire stopper.
Surfboards are made using a rigid polyurethane foam core. Other uses for polyurethane foam include boat hull treatments, watch straps, and varnishes. Polystyrene foam is the most widely used packaging foam. It is used as a cushion for transporting fragile goods. Polyvinyl chloride foam is used as commercial signage and color display boards. The increasing demand from end-use industries is driving the global polymer foam market demand.
Sustainability concerns due to the widespread use of polymer foam
Polymer foam is cheap and is readily produced in industrial quantities. It is ideal for a wide variety of applications of modern life. Wrapping sheets, packaging foam, building insulation foam, thermal insulation for automobiles, commercial signboards, and footwear inserts are some of the wide-ranging applications for polymer foam. Polymer foam is made from long-chain polymers and it renders them incredibly thermally stable with high durability. The polymer foam remains around forever and is not biodegradable. The consumption patterns of the modern lifestyle and the ubiquity of polymer foam usage have led to the generation of humungous quantities of plastic waste.
Plastic waste does not degrade but piles up in the environment threatening natural ecosystems. The threat is particularly big for the ocean since more than 14 million tons of plastic waste end up in the ocean every year. Plastic pollution has led to the extinction of many marine species. Large-scale plastic pollution has prompted concerns about sustainability due to the widespread usage of plastic foam. Globally, governments are enacting legislation to limit and eventually replace polymer foams with biodegradable alternatives. The sustainability concerns about polymer foam are a key challenge for the growth of this market.
COVID-19 impact on Polymer Foam Market Growth
The global chemical industry experienced uneven impacts on value chains in production and sales in 2020 due to the COVID-19 pandemic. Automotive and construction applications saw steep declines since government-imposed lockdowns and restrictions brought a prolonged halt to manufacturing globally. Food, sanitary and medical applications saw robust growth. The main reason behind the growth was stockpiling of essential goods, the rise in e-commerce and delivery services, and a rise in healthcare-related activities due to the pandemic.
End-use products such as polyethylene foam, used for packaging, saw a rise in demand whereas polyurethane foam, used mainly for automotive and construction applications, saw relatively steep declines. Many chemical companies adapted their existing plants to produce methanol and isopropyl alcohol to meet the growing demand for disinfectants and hand sanitizers.
The short-term impact of the COVID-19 pandemic has been relatively mild for the chemical industry. Major companies have cut operating expenses and capital expenditures in response to the pandemic. The pandemic will have a negligible impact on the medium to the long-term growth of the global polymer foam market since companies are expected to gradually ramp up capacity utilization as economic activity returns to pre-pandemic levels. The demand for polymer foams remains strong and is expected to grow progressively in the coming years.
Polymer Foam Market Segment Analysis
The global polymer foams market is segmented into form, type, application, and region. The polymer foams market is segmented into automotive and transportation, building and construction, furniture and bedding, packaging, footwear, and others.
Automotive and transportation are leading in this segmentation, as it is the most widely used application of polymer foam. Polymer foam has wide-ranging automotive applications such as sealing for vehicle air conditioners, gas tank pads, armrest pads, and hood duct insulation. Global automobile production was approx—53 million units in 2020, making automotive and transportation the most extensive application for polymer foams.
Source: DataM Intelligence Analysis (2023)
Polymer Foam Market Geographical Share
Asia-Pacific is leading in the global polymer foam market. The region accounts for the largest market share, primarily due to major emerging markets such as China, India, Malaysia, and Indonesia and developed markets such as Taiwan, Japan, and South Korea. Some of the largest polymer foam producers and consumers are located in this region.
China is also the largest market for polymer foam globally. China has the largest construction industry globally and is expected to add US$1.2 trillion to global construction output by 2030. Rigid polyurethane foam is used as insulating foam, construction sealant, and fire stoppers in high-rise buildings. The major demand for polyethylene foam comes from the packaging industry, especially since China has the largest e-commerce market globally with an estimated market size of US$ 1.2 trillion.
China also is the largest automobile producer globally, with more than 20 million passenger vehicles and 5 million commercial vehicles produced in 2020. Polyurethane foam has extensive use in automobiles, such as interior trims and automotive seat cushions. Electronic components such as circuit boards are protected from the environment by enclosing them in polyurethane. China is the largest manufacturer of electronics globally. The Asia-Pacific will continue to have the largest market share in the global polymer foam market in the coming years.
Source: DataM Intelligence Analysis (2023)
Polymer Foam Market Companies and Competitive Landscape
The global polymer foam market is competitive due to the availability of a wide variety of foams that cater to specific applications. Some of the major players contributing to the growth in the segment are BASF SE, Dow, SABIC, Armacell, Lanxess AG, Arkema S.A., Borealis AG, Tosoh Corporation, Kaneka Corporation, and Toray Industries Inc. The significant players adopt several growth strategies such as new product launches, joint ventures, and collaborations, contributing to global growth in the industry.
BASF SE
Overview: BASF SE is a multinational chemical company among the largest global chemical producers. It produces various chemicals, including pesticides, plastics, industrial solvents, catalysts, and coatings. The company operates 390 production sites in more than 80 countries through its network of subsidiaries and joint ventures. BASF SE was founded in 1865 and is headquartered in Ludwigshafen, Germany.
Product Portfolio
- Bastotect UF+ is a sound-absorbing and thermally insulating foam designed for special applications in rail vehicles and building construction. It is an open-cell foam made from melamine resin. The foam has high elasticity, low thermal conductivity, and a low density of 7 kg/m³. It is certified to European EN 5545 HL3 and American ASTM C1410 standards for fire safety and uses in transportation and industrial applications.
Key Developments: In December 2020, BASF SE introduced a new range of foams called Ultramid. The reinforced polyamide foam has high stiffness, chemical resistance, and high-temperature resistance, capable of withstanding temperatures of up to 230°C. It is primarily designed for automotive usage.
Why Purchase the Report?
- Visualize the composition of the polymer foams market segmentation by form, product, application, and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the polymer foams market by analyzing trends and co-development deals.
- Excel data sheet with thousands of global polymer foams market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the critical product of all major market players
The global polymer foams market report would provide access to approx.: 66 market data tables, 64 figures, and 180 pages.
Target Audience 2024
- Petrochemical manufacturers
- Specialty chemicals manufacturers
- Application Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
