DELRAY
BEACH, Fla., Oct. 16,
2024 /PRNewswire/ -- The report "Polymer
Foam Market by Resin Type (PU, PS, PO, Phenolic), Foam
Type (Rigid, Flexible), End-Use Industry (Building &
Construction, Packaging, Automotive, Furniture & Bedding,
Footwear, Sports, & Recreational), and Region - Global Forecast
to 2030", is projected to grow from USD
102.61 billion in 2024 to USD 142.02
billion by 2030, at a CAGR of 5.6% during the forecast
period. Recent advances in foam materials have produced
lightweight, robust, high-performing foams with thermal insulation,
soundproofing, and flame-retardant properties, making them widely
used in the automotive, construction, and packaging industries. At
the same time, the sustainable push has also resulted in the
development of bio foams and recyclable foams driven by the need
for environmentally friendly products owing to the local content
policies that prohibit the use of certain materials. These
developments, particularly the outlook for polymer foams that use
less energy or polymers with less environmental impact, encourage
expansion of the polymer foam market.
Browse in-depth TOC on "Polymer Foam Market"
233 – Tables
50 – Figures
287 –
Pages
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The building & construction segment is expected to
account for the largest share of the polymer foam market by end-use
industry during the forecast period in terms of value.
By end-use industry, the building & construction segment is
estimated to have the largest market share by value. Due to the
rising need for energy-efficient and environmentally friendly
construction materials, the building and construction industry will
continue dominating the polymer foams market. Various polymer foams
including, but not limited to, polyurethane (PU) and polystyrene
(PS), find applications in thermal and acoustical insulation as
well as structural infill systems within walls, roofs, and
flooring, thereby contributing to the building's energy
performance. In addition to these factors, concerns about green
building practices and energy efficiency and associated government
policies encouraging low-energy buildings have increased the use of
polymer foams in the scope of both residential and commercial
construction. Moreover, polymer foams have the advantage of being
light in weight, hence less conducive to higher construction costs
and enhancing the ability of the buildings to withstand better.
By resin type, the polyurethane segment is expected to
account for the largest market share in terms of value during the
forecast period.
Based on resin type, the polyurethane segment is estimated to
account for the largest share of the market during the forecast
period. This unique market share can be attributed to
polyurethane's versatility and a vast range of applications in
major sectors, including automotive, construction, packaging, and
bedding and furniture sectors. Both rigid and flexible polyurethane
foams are often chosen due to characteristics like durability and
lightweight nature. Polyurethane is used for soundproofing, energy
absorption, and thermal insulation applications in the building and
construction industry. It is also found in the automotive sector
and in sealing and cushioning functions. Thus, polyurethane's
ability to meet a wide range of functional requirements is one of
the primary reasons for its dominance in the polymer foam
market.
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Asia Pacific is projected to
register the largest market share during the forecast
period.
Asia Pacific is estimated to
lead the market during the forecast period. The Asia-Pacific region is expected to have the
largest market share in the polymer foam market due to numerous
factors. The rapid urbanization and industrialization of countries
and areas in the Asia Pacific have
led to a substantial increase in demand for polymer foams in
construction industries, automotive, and packaging, especially in
developing countries such as China, India,
and Southeast Asian countries. The increasing construction
activities in these regions utilize polymer foams in residential
and commercial buildings for insulation, soundproofing, and
structural uses. Also boosting the product demand is the region's
growing automotive manufacturing sector, which is on the rise due
to lightweight materials, such as polyurethane and polystyrene
foams, which help improve the efficiency of motor vehicles. Due to
the expansion of the e-commerce and retail industries in the
Asia Pacific region, there has
also been an increasing requirement for polymer foams used in
packaging. In addition, the growth of this market is facilitated by
the presence of cheap raw materials and labor and the growing
commitment towards investments in eco-friendly foam
technologies.
Some of the leading players in this market include ARMACELL
(Luxembourg), Sheela Foam Limited
(India), Kingspan Insulation, LLC
(Ireland), Owens Corning (US), and
Zotefoams plc (UK).
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Browse Adjacent Market: Foam and Insulation
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