Europe Polyolefin Foam Market Size Is Predicted To Reach $6.1 Billion By 2027

The European polyolefin foam market size is expected to reach USD 6.1 billion by 2027, expanding at a revenue-based CAGR of 5.8% over the forecast period, according to a new study by Grand View Research, Inc. Rising demand for polyolefin foam from the end-use industries is anticipated to drive the market in the forthcoming years.

Polyolefin foam is light in weight, strong, and recyclable. The density and thickness of the product can vary through technological processes. Foam of varied densities can be used to cater to different applications, including thermal insulation, noise insulation, impact resistance, furniture, packaging, and consumer goods. Polyolefin foam is expected to witness increased demand in Europe on account of its increasing application in the end-use industries. Growing popularity of lightweight, reusable, and non-toxic materials in furniture, automotive components, sealing, ducting, and consumer goods is projected to positively impact the product demand in Europe.

Protective packaging solutions for industrial, household, and automotive components and equipment have witnessed rapid growth over the past few years owing to the increased manufacturing and transportation activities across major economies. Heavy and light goods require protective packaging during transportation to avoid damages and breakages, which, in turn, is expected to augment the demand for effective and better impact-resistant packaging materials. In addition, growing importance of food packaging solutions that are non-toxic and chemically stable is expected to fuel the demand for polyolefin foam materials over the forecast period.

France is projected to witness the highest growth over the forecast period. Expanding automotive industry in the country is significantly contributing towards the growth of polyolefin foam market. According to the Organisation Internationale des Constructeurs Automobiles (OICA), automotive production in France reached 2.27 million units in 2018 from 2.22 million units in 2017. The automotive manufacturing industry in France is characterized by the presence of several manufacturers, such as Group PSA, Groupe Renault, Venturi Automobiles, BUGATTI AUTOMOBILES S.A.S., and LIGIER GROUP. Thus, growing automotive industry in France is anticipated to create significant growth opportunities for the product in the country.

Over the past few years, market players have taken up various strategic initiatives to gain foothold in the market. For instance, in May 2018, Zotefoams plc announced its plan to invest USD 29.90 million in a new foam manufacturing plant in Central Europe to increase the production of polyolefin foam by approximately 20%. The production expansion is scheduled to commence by 2020.

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Further key findings from the study suggest:

• Germany dominated the Europe polyolefin foam market in 2019 and is expected to witness significant growth during the forecast period
• France is expected to witness the fastest growth over the forecast period on account of rising product demand from the end-use industries
• Based on application, the building and construction segment held a significant market share in 2019 owing to rising construction activities across Europe
• Key players operating in the market include Sekisui Alveo, Arkema Group, BASF SE, Armacell International S.A., and Borealis AG.

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Grand View Research has segmented the Europe polyolefin foam market on the basis of application and country:

Europe Polyolefin Foam Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Building & Construction
• Automotive
• Packaging
• Consumer Goods
• Others

Europe Polyolefin Foam Country Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Central Europe
• Rest of Europe

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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