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.
U.S. polymer foam market volume, by
application, 2013 - 2024 (kilo tons)
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.
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below:
www.grandviewresearch.com/industry-analysis/polymer-foam-market
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.
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Research at:
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
Italy
o
UK
o
Spain
o
Russia
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
o
Singapore
o
Indonesia
·
RoW
o
Brazil
View press release of this research report by Grand
View Research:
www.grandviewresearch.com/press-release/global-polymer-foam-market
www.grandviewresearch.com/press-release/global-polymer-foam-market
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.
