Polymer Foam Market Size to grow by USD 26.95 billion between 2023-2027
According to a research report “ Polymer Foam Market” by Type (PU, PS, PVC, Phenolic, Others) Application (Packaging, Building and construction, Funiture and bedding, Transportation, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 26.95 billion, at a CAGR of 4.63% during the forecast period. The global population, which stood at 7.8 billion in 2021, is projected to reach 9 billion by 2050, according to demographic data from the top 20 most populous countries: China, India, the US, Indonesia, Brazil, Pakistan, Nigeria, Bangladesh, Russia, Mexico, Japan, Philippines, Ethiopia, Vietnam, Egypt, Germany, Iran, Turkey, the Republic of Congo, and Thailand. This population expansion is attributed to factors such as reduced mortality rates, enhanced medical facilities, increased life expectancy, and decreased child mortality. Consequently, the demand for essential household items, including polymer foam-based products like bedding, cushions, pillows, and upholstered furniture, has surged in response to this growing population and its associated housing needs.
Browse market data tables, figures, and in-depth TOC on “Polymer Foam Market” by Type (PU, PS, PVC, Phenolic, Others) Application (Packaging, Building and construction, Funiture and bedding, Transportation, Others) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample
By Type, the PU segment is projected to dominate the market size in 2024
The packaging segment dominates the global polymer foam market, driven by the extensive utilization of these materials in protective packaging applications. Polymer foams offer significant benefits to the packaging industry, including their lightweight properties, surface protection capabilities, and thermal insulation properties. In this sector, polymer foams are employed in various forms such as trays, sheets, protective bands, and packaging for fragile and shock-sensitive items. Particularly, PU foams, known for their softness, are widely utilized for packaging lightweight and delicate products. These foams are manufactured in large buns with a diverse density and firmness range, providing dimensional flexibility to meet specific packaging requirements.
By Application, Packaging segment is expected to hold the largest market size for the year 2024
ai_market_segmentation_by_2
APAC is forecasted to hold the largest market size by region in 2024
The Asia Pacific (APAC) polymer foam market is experiencing significant growth, driven by population expansion, economic development, and increasing disposable income levels in countries such as India, the Philippines, Malaysia, and China. This trend is anticipated to accelerate throughout the forecast period. Moreover, China, Japan, India, and South Korea were among the world's top ten automotive vehicle producers in 2021. These nations are projected to preserve their market positions during the forecast period, leading to substantial growth opportunities for the polymer foam industry in APAC due to the extensive use of polymer foams in automotive manufacturing. Furthermore, the expanding demand for food and beverages, alcoholic beverages, and pharmaceuticals in APAC is expected to boost the market share during the forecast period.
The Polymer Foam Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Polymer Foam Market encompasses a wide range of applications, including transportation operations, packaging, and construction. In the packaging sector, polymer foams find extensive use in food containers for fast food and beverages, egg cartons, and trash dishes. In the transportation industry, these foams are used as vehicle components in automotive applications, such as insulation for seating and piping for cooling systems. In the construction sector, polymer foams are utilized for insulation, flooring, and rail infrastructure construction. The use of expanded polystyrene foam (EPS) and polyurethane-based foams in building & construction is on the rise due to their excellent insulation properties. Southeast Asian countries are emerging as significant markets for polymer foams, particularly in the packaging and automotive industries. The use of post-consumer recycled plastics and isocyanates in the production of recycled plastics is gaining popularity to reduce regulatory scrutiny. The rail industry is another major consumer of polymer foams, particularly in the production of fiberglass insulation for rail cars. Patents for new types of polymer foams, such as those used in wind energy projects, continue to be filed, indicating ongoing innovation in the field. Foreign direct investment in the polymer foam industry is on the rise, driven by the growing demand for lightweight, insulating materials in transportation and construction applications. However, the use of polymer foams in certain applications, such as in vehicle interiors, has faced regulatory scrutiny due to concerns over the use of certain chemicals, such as isocyanates.
Market Research Overview
The Polymer Foam Market encompasses various types of foams, including polyamide foam, urea formaldehyde foam, PET foam, polyvinyl chloride foam, polyethylene foam, polystyrene foam, and polyurethane foam. These foams find extensive applications in the appliances industry, furniture industry, packaging applications, building & construction applications, and automotive applications. In the appliances industry, polyurethane foam is widely used in pillows, bedding products, and cushions for stress relief and memory foam. In the furniture industry, polymer foams are used in the production of bean bags, office chairs, sofas, and other furniture items. The global geriatric population's growing demand for comfortable and supportive furniture is driving the market's growth. Polyurethane resin segment dominates the market due to its excellent insulation capabilities, fire resistance properties, and acoustic capabilities. The automotive industry uses polymer foams for vehicle components, such as seats, insulation, and piping. In the packaging industry, polystyrene foam is used for fast food containers, egg cartons, trash dishes, and food containers. The building & construction sector uses slab-stock, extrusion, and injection molding for insulation panels and flooring products. Southeast Asian countries are significant markets for expanded polystyrene foam due to their growing infrastructure development and construction activities. Regulatory scrutiny over the use of isocyanates and fiberglass in foam production may hinder market growth. However, the use of post-consumer recycled plastics in foam production and patents in wind energy projects and rail industry offer growth opportunities. Foreign direct investment in the polymer foam industry is also expected to boost market growth.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
