Foam Market 2021 Size, Growth Factors & Forecast Report to 2030
Posted by Ethan on September 14th, 2021
Global Foam Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX % through 2020 to 2026, reaching nearly US$ XX Mn. The global Foam market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Foam report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Foam Market Overview:
Foams are extensively used in adhesives, sealants, insulation, and binders in various construction sectors and other applications. This in turn boosts the global foam market demand in various sectors.
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Global Foam Market Dynamics:
Foams are highly flexible materials, which help to reduce total infrastructural costs by decreasing energy consumption in buildings. These factors led to increased use of foams for building insulation applications, which, in turn, drives the global foam market. Foam has various types like polymer, polyurethane, and flexible foams. Polyurethane foams are used in various applications like furniture, cushions, and carpets thanks to their favorable properties like low heat, lightweight and sound transfer, insulation, and high energy dissipation. Growing demand for residential and commercial space in Southeast Asian economies including Korea, Indonesia, and Singapore. These aforementioned factors are expected to drive the global foam market demand during the forecast period. Technological advancements in various sectors including building & construction, furniture & bedding, and automotive are contribute to the market growth. Moreover, the growing demand for these sectors is further creates lucrative opportunities for the major players in the market. Strict environmental regulations by US Environmental Protection Agency for new manufacturing players are a major restraining factor for the foam market.
Global Foam Market Segment Analysis:
By Type, the foam market is segmented into polyether foam, polyester foam, ethafoam, volara, closed-cell sponge rubber, open-cell sponge rubber, cellulose, and scrubber foams.
By Application, the market is segmented into building & construction, packaging, automotive, furniture & bedding, footwear, and sports & recreational. Building and construction application segment led the foam market with a market share of around 37.1% in terms of revenue in 2019 thanks to increasing applications of foam for insulation purposes, pipe, molding, flooring, and wire and cables. Furniture and bedding are expected to be the second-largest segment attributed to growing applications, like carpet padding, mattress padding, fibers, chair cushions, and furniture.
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Global Foam Market Regional Insights:
Asia Pacific is dominating the Foam Market
Asia Pacific accounted for the largest market share of around 39.2% in 2019. Growing demand for foam from various end-use industries including building & construction, automotive, building & construction, packaging, and furniture & bedding, and increasing footprint of the major players dealing in foams is expected to drive the global foam market in the Asia Pacific. The regional growth is attributed to high economic growth followed by heavy investment across industries, including building & construction, automotive, building & construction, packaging, and furniture & bedding. A positive outlook of the manufacturing industry in light of the increasing focus on R & D activities, along with favorable government initiatives and rising investments in building & construction sectors is expected to boost the segment demand during the forecast period in the region. Rapid industrialization and packaging industries in developing countries like India & China are expected to propel the foam market demand during the forecast period.
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Global Foam Market, by Region
• North America • Europe • Asia Pacific • Middle East and Africa • South America
Global Foam Market Key Player
• BASF SE • Covestro AG • Wanhua Chemical Group Co., Ltd. • Bayer Material Science • Ube Industries, Ltd • Rogers Corporation • The Dow Chemical Company • Recticel NV/SA • Sealed Air Corporation • Huntsman International LLC • Zotefoams Plc. • The Woodbridge Group • Sekisui Alveo AG • Armacell International S.A. • Others
