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.
In depth research report on 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
.
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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