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Polymer Foam Market Size, Share & Industry Analysis, By Type (Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), By Application (Automotive, Building & Construction, Packaging, Furniture, Appliances, Apparel and Others), and Regional Forecast, 2019-2026

Region : Global | Published Date: Dec, 2019 | Report ID: FBI101698| Status : Published

 

KEY INDUSTRY INSIGHTS

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Polymer foam is the dispersion of gas in solid polymer matrix. Polymer foam is manufactured by producing air bubbles with the help of a blowing agent. Polymer foam can be produced in number of ways such as blow molding, injection molding, extrusion, and slab-stock by pouring. Polymer foams are lightweight, have excellent strength to weight ratio, good energy absorbance, acoustic and insulation capabilities, good thermal properties and also provide comfort as they are flexible and soft.


Properties such as lightweight and heat resistance make polymer foam a highly preferred raw material in various end-use industries such as automotive, building & construction, packaging, furniture, appliances, apparel and others. Among these, the building & construction emerged as the most promising application, with major demand coming from end-uses such as laminates, sandwich, panels, pipes, pipe section, and others.


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Polymer foam is majorly used in the packaging industry which requires a lightweight material having exceptional heat resistance. This material is highly suitable for packaging application accounting for over 14.7% of the share in the overall polymer foam market. Additionally, polymer foam also has considerable usage in the automotive interiors such as carpet, seating, steering wheels, and other parts. The above mention factors are expected to boost the market in the forecast duration.


MARKET DRIVERS


“Growing Demand from Core Applications Likely to Drive the Polymer Foam Market”


Polymer foams are extensively used in applications including automotive, building & construction, and packaging for the production of a wide range of products such as car seats, pipe covers, facades, food packaging, and roll coverings. The increasing influence of sustainable building materials is fueling the demand for building materials that contribute to the energy efficiency of buildings.


The rapid growth of polymer foam is attributable to its demand from developing countries such as India and Brazil. Surge in demand from European countries such as the U.K., Germany, Poland, and Sweden for household applications such as furniture, bedding, freezer, insulation, refrigeration is driving the market further.


SEGMENTATION


By Type Analysis


“Polyurethane Foam Segment is Expected to Generate the Highest Revenue During the Forecast Period”


As per the current global polymer foam market trends, the market has been categorized into different types such as polyurethane (PU), polystyrene (PS), polyethylene (PE), polyvinyl chloride (PVC), and others. Polyurethane foam accounted for the largest polymer foam market share in 2018. Increasing demand for viscoelastic or memory foam on mattress and bedding products is expected to increase the demand for polyurethane foam in the lower-middle income economies such as India, Indonesia, Bangladesh and Vietnam. The demand for polyurethane foam is also rising in the European countries such as Hungary, Poland, and Slovakia due to surge in construction industry, where it is used for building roofs, flooring and facade insulation. Moreover, the consumption of polyurethane foam is expected to increase due to its versatility and broad range of applications in major end-use industries.


Stringent environmental standards and increase in the demand for high quality insulation materials is fueling the demand for polystyrene foam. Moreover, polystyrene foam has heavy demand from the packaging industry owing to its properties such as thermal insulation, lightweight, low cost, and versatility.


The demand for PVC foam is expected to rise owing to the increasing demand from fastest growing panel products such as furniture manufacturing. PVC foam boards have major application in furniture end-use industry. PET foam holds less share as compared to other types of polymer foams. However, it is still witnessing demand from transportation, wind energy, and packaging industry. Other types of foams include urea formaldehyde, polyamide foam, etc.


By Application Analysis


“Building & Construction Segment is Anticipated to Exhibit a Significant CAGR During the Forecast Period”


Polymer foam has a high demand from the building & construction industries owing to its crucial properties, such as, lightweight nature, durability, and versatility. The building & construction segment held the highest share in this market as it enhances the design and aesthetics of residential and commercial buildings. Sprayed polyurethane foams provide waterproofing sealants, fills gaps, and seams in household applications.


The demand for polymer foam in automotive applications is increasing owing to its properties such as water resistance, comfort, durability, lightweight, and energy conservation. The polymer foam used in seats, armrests, and headrests provides cushioning effects to reduce stress and fatigue associated with driving.  Thus, the aforementioned factors will attract high polymer foam market revenue in the forecast period.


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In packaging applications, polymer foams are usually used for packaging purposes such as food containers, disposal dishes, egg cartons, fast-food, and others. Increasing transportation activities, coupled with rise in the demand for packaged food, is expected to fuel the demand for polymer foams in packaging applications. Rigid polymer foam is widely used in furniture industry in products such as sofa, cushions, upholstery and others.


Polymer foam is used in refrigerators to maintain the temperature. It also provides flame-retardant safety for white goods as well as smaller appliances such as water heaters without compromising on the endurance and appearance. In apparel industry, polymer foams are used for clothing, footwear and other accessories, as it provides higher comfort than other materials. Other applications of polymer foams include toys, agriculture, military, and others.


REGIONAL ANALYSIS


Asia Pacific is anticipated to remain largest region in the global polymer foam market during the forecast period owing to the rising demand for polymer foam from various applications. The market in Asia Pacific is mainly driven by factors, such as rising in building & construction activities which can be attributable to the increasing population and increase in disposable income of people in this region.


With China emerging as the largest producer and consumer of polymer foam, Asia Pacific is the dominating region in the polymer foam market. Asia Pacific is expected to witness the highest growth in the market across the globe. China, Japan, and India are key countries contributing to the market growth in the region owing to the rising population and construction activities in these countries.


North America Polymer Foam Market Size, 2018

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Europe, on the other hand is projected to witness significant growth in the polymer foam market, over the forecast period. The increasing demand for interiors in the automotive industry would contribute significantly to the growth of market in the region. Additionally, the use of polymer foam for packaging and furniture applications are some of the other key factors driving the market growth in Europe.


Latin America and the Middle East & Africa would showcase sluggish growth in this market as compared to the other regions. The polymer foam production in these regions lack in meeting the local demand, owing to which they need to be imported from other regions.


KEY INDUSTRY PLAYERS


“Market Players like Arkema and BASF SE are Expected to Strengthen the Market Position by Offering Various Polymer Foam Solutions”


The global market is fragmented in nature with the presence of several local as well as global players, most of which are located within Asia Pacific. The producers located in North America and Europe are aiming to increase their presence in China and other countries in Asia Pacific in order to strengthen their position in the market and increase their market share. In order to achieve this, the key market players have developed strong regional presence, distribution channels, and broad product offerings.


LIST OF KEY COMPANIES PROFILED:



  • Sealed Air

  • Arkema

  • Armacell International S.A

  • Borealis AG

  • Polymer Technologies, Inc.

  • Zotefoams plc

  • Synthos

  • Sekisui Alveo

  • BASF SE

  • Total

  • KANEKA CORPORATION

  • Toray

  • SABIC

  • Celanese Corporation


REPORT COVERAGE


A growing trend is observed in the penetration of the polymer foam market across the industries. 


The report provides qualitative and quantitative insights on the market and a detailed analysis of the polymer foam market size & growth rate for all possible segments that exist in the market. The market is segmented by type, application, and geography. Based on type, the market is classified into polyurethane (PU), polystyrene (PS), polyethylene (PE), polyvinyl chloride (PVC) and others. By application, the market is divided into automotive, building & construction, packaging, furniture, appliances, apparel and others. Geographically, the market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.


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Along with this, the report provides an elaborative analysis of the polymer foam market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion/USD Million) and Volume (Kilo Ton)



Segmentation



By Type



  • Polyurethane (PU)

  • Polystyrene (PS)

  • Polyethylene (PE)

  • Polyvinyl Chloride (PVC)

  • Others



By Application



  • Automotive

  • Building & construction

  • Packaging

  • Furniture

  • Appliances

  • Apparel

  • Others



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa ( GCC, South Africa and Rest of Middle East & Africa)



 


Key Industry Developments



  • In August 2019, Sheela Foam Limited, largest manufacturer of mattresses and foam based in India acquired Interplasp SL, a Spanish Company, which has annual production of 11,000 tons (total capacity 22,000 tons) of polyurethane foam for bedding and furniture applications.

  • In March 2019, Sika AG, a specialty chemical manufacturer of bonding, damping, sealing, reinforcing solutions for automotive and construction industry acquired Belineco LLC, a Belarus based producer of polyurethane foam systems. With this acquisition Sika is further expected to develop its technology to manufacture polyurethane foams.

  • In July 2019, Huntington Solutions, LLC a North American provider of protective packaging solutions and energy management components acquired Texas Foam, a company based in Bastrop, Texas, U.S. to increases and broaden its production capabilities.


 


Frequently Asked Questions

Fortune Business Insights says that the polymer foam market was valued at USD 110.85 Billion in 2018 and is projected to reach USD 154.08 Billion by 2026.

The polymer foam market will exhibit a steady CAGR of 4.28% in the forecast period (2019-2026).

Polyurethane segment is expected to be the leading application for polymer foam market during the forecast period.

Increasing demand for building & construction industry is driving the polymer foam market growth.

Asia Pacific is expected to hold the highest market share in the polymer foam market.

Building & Construction products applications will drive the adoption of polymer foam.

Rising demand for automotive, packaging, and construction industries

Polymer Foam Market Size, Share and Global Industry Trend Forecast till 2026
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