Growing Construction Activities Proliferating the Polymer Foam Market

Polymer foams or plastic foams consist of gaseous and solid phase and have wide range of applications in automotive, furniture, construction, and other areas. The market is growing with increase in construction activities worldwide. According to the Confederation of International Contractors’ Association, the global construction industry is valued at about US$ 7 Trillion and employs around 120 million people. According to U.S. Energy Information Administration, 2014, buildings accounted for approximately 35% to 40% of total energy consumed in developing nations.

The Polymer Foam Market is expected to grow at a steady rate of around 4% owing to the increasing applications in automotive, building, and packaging. Thus, in order to increase their margins in this fiercely competitive market, both established players and newcomers are forced to innovate or improve their current production methods. Major multinational corporations like Bayer and Dow Chemical have created novel manufacturing techniques and raw materials to cut back on their reliance on traditional fossil fuel-based resources and increase production yield.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31251

According to UnivDatos Market Insights (UMI)’ research report “Global Polymer Foam Market”, the market is expected to witness robust growth during the forecast period (2022-2028). The market is highly competitive and companies are actively offering products in the market. For instance, in September 2022, Covestro began offering polyether polyols using bio-circular feedstock together with renewable toluene diisocyanate (TDI) and climate-neutral methylene diphenyl diisocyanate (MDI). The company supplies these two raw materials for the production of polyurethane (PU) foams based on alternative raw materials.

Based on type, the market is segmented into polyurethane, polystyrene, polyolefin, phenolic, and others. The polyurethane category is holding a dominant share of the market and is expected to grow with a high CAGR during the forecast period. Polyurethane (PU) foams have various characteristics including durablity, lightweight, versatile, resistant to corrosion and vibration, recyclable, and offer a high level of freedom in geometric design. PU foams are widely 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 market.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=31251

Based on the application, the market is segmented into building & construction, packaging, automotive, furniture & bedding, footwear, and others. Because more products are being used in seats, dashboards, power trains, and suspension bushings, the automotive sector is anticipated to increase profitably over the course of the projection period. The expansion of the market is anticipated to be positively impacted by the U.S. car industry's recovery and rising automotive demand in China and India, two emerging economies. The packaging industry is anticipated to increase significantly after the automobile industry as a result of the booming need for polystyrene foams in this industry.

APAC to witness extensive growth

For a better understanding of the market adoption of the polymer foam industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. In 2020, Asia Pacific held a significant share of the global market due to surge in demand for wide range of applications, including packaging and construction activities. Further, the high share is also due to high population, rise in middle-class income, and low labor and raw materials cost in the region. Moreover, the rise in the use of rigid polymer foam and low-density polymer foam in the building & construction sector is due to their high energy absorption capacity and low density, is also having a positive impact on market’s growth during the forthcoming years.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the polymer foam market are SABIC; BASF SE; Covestro AG; Sealed Air Corporation; Recticel NV; Rogers Corporation; Kaneka Corporation; DowDuPont Inc.; Polymer Technologies, Inc.; and Armacell International S.A.

“Global Polymer Foam Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, And Others)

2.      By Application (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, And Others)

3.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.      By Company (SABIC; BASF SE; Covestro AG; Sealed Air Corporation; Recticel NV; Rogers Corporation; Kaneka Corporation; DowDuPont Inc.; Polymer Technologies, Inc.; and Armacell International S.A.)

Key questions answered in the study:

1.      What are the current and future trends of the global polymer foam industry?

2.      How the industry has been evolving in terms of type, application, and region?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global polymer foam industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global polymer foam suppliers across various region and countries?