The global polymer
foam market is expected to reach USD 207.9 Billion by 2024, according
to a new report by Grand View Research, Inc. Increasing demand for polymer foam
from two core industries which include automotive and building &
construction is expected to be a principal factor in stimulating growth over
the forecast period.
Increasing penetration of the product in the
automotive industry in various automotive components such as interior panels,
upholstery and seating arrangements in the car is expected to be a crucial
factor in promoting an expansion of the product. The automotive sector
accounted for 14.6% of the global volume share in 2015. Growing demand from automotive
industries from emerging economies such as India, Japan, and China will result
in improving demand for the product over the forecast period.
Building & construction and packaging are some of
the essential applications for polymer foams. They are increasingly being used
in the building & construction industry in various areas including
insulation, flooring, pipes and windows. This will help in contributing towards
the growth of the overall polymer foam industry.
Browse full research report on Polymer Foam Market: https://www.grandviewresearch.com/industry-analysis/polymer-foam-market
Further
key findings from the report suggest:
- North American polymer foam market is expected to grow at a CAGR of
5.1% from 2016 to 2024 in terms of volume on account of rising
construction sector in countries which such as Mexico and Canada.
Construction and packaging sectors have witnessed a significant rise in
the penetration of polymer foam in the region on account of their superior
material characteristics which has resulted in improving market dynamics
of the product in the region.
- Asia Pacific is expected to witness the fastest growth over the
projected period. Rising automotive sector and industrial sector in
emerging economies such as India and China are likely to propel expansion
of the product over the next eight years. The market is predicted to reach
a value of USD 93.9 billion by 2024. Adoption of cost-effective methods
for manufacturing will play an important role in improving the market conditions
of polymer foams. This will result in a positive impact on overall demand
for polymer foam.
- The demand for polymer foam in the packaging sector was 4,417.37
kilo tons in 2015. Various government policies including FDI and “Make in
India’’ is expected to drive the industrial sector in India. Rising
industrial and automotive sectors in different countries including India,
China, and the U.S. will play a significant role in influencing growth
over the forecast period.
- Key industry players include BASF SE, Recticel S.A., Woodbridge
Foam Partner, INEOS Styrenics, British Vita Foams Plc, Carpenter Company,
Rogers Corp, Adeplast S.A, Armacell LLC and JSP Corp. Companies in this
sector are increasing their production volumes to expand their business
presence and gain market share.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the global polymer foam market on the basis of
type, application, and region:
Type
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Polyurethane
Foam
- Polystyrene
Foam
- PVC Foam
- Phenolic Foam
- Polyolefin
Foam
- Melamine Foam
- Others
Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- Packaging
- Building
& Construction
- Furniture
& Bedding
- Automotive
- Others
Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Indonesia
- RoW
- Brazil
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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