Global Foam Plastics Market Size, Trends & Analysis - Forecasts to 2026 By Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, Others), By End -Use Industry (Furniture & Bedding, Building & Construction, Packaging, Automotive, Footwear, Sports & Recreational, Others), By Foam Type (Rigid, Flexible), By Region (North America, Europe, Asia Pacific, MEA, CSA); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Foam Plastics Market Insights
The global foam plastics market is estimated to witness a significant CAGR during the forecast period (2020-2026). Foam plastics are lightweight and flexible, highly durable, and resistant to mildew, making it safe and recommendable for a wide range of consumers. The growing demand for foam plastics from the automotive industry and the increasing production of automobile interiors are some of the major factors driving the market growth during the forecast period. Moreover, the rise in investments in infrastructure is one of the significant factors driving the market. Also, foam insulation and household products such as bedding, furniture, and appliances owing to the rising new housing activity, along with rising consumer spending levels boost the growth of the market. However, fluctuation in prices of raw materials, and growing competition of paper-based materials due to restriction on advances in the large packaging sector by ongoing solid waste disposal concerns are some of the factors hampering the market growth.
Foam Plastics Market Size: By Type
Based on type, the market is segmented into polyurethane, polystyrene, polyolefin, and phenolic, among others. The polyurethane resin segment is expected to grow at a high CAGR during the forecast period. Polyurethane based foams are widely used in building and construction, automotive, and marine industries. The rapid growth in the bedding and carpet underlay drives the robust growth of the market. Low-density foams are used in thermal insulation and RTM cores. Moreover, a wide customer base owing to its superior capabilities, increasing demand for residential and commercial space is also expected to drive market growth.
Foam Plastics Market Size: By Foam Type
Based on type, the market is segmented into flexible and rigid. The rigid segment is expected to hold the largest market share during the forecast period. These foams are also being increasingly used in the packaging end-use industry, due to their light weight and durability. The growing effective usage of energy due to healthy rebound in construction activity and by changes in building codes and construction practices is expected to drive the market growth.
Foam Plastics Market Size: By End-Use Industry
Based on the end-use industry, the market is segmented into building & construction, packaging, automotive, furniture & bedding, footwear, and sports & recreational. The building & construction segment is accounted to hold the largest market share during the forecast period due to the rising applications of polymer foam for insulation purposes, molding, flooring, pipe, and in wire and cables. Furthermore, the automotive segment is expected to grow at a high CAGR during the forecast period. The growing use of polymer foam in various automotive components, such as seats, suspension bushings, dashboards, and power trains, among others drives the growth of the market.
Foam Plastics Market Size: By Region
Based on region, the global foam plastics market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. Asia Pacific is projected to grow at a high CAGR during the forecast period due to the high economic growth rate followed by increase in investment on research & development across industries, such as building & construction, packaging, and automotive, among others. Furthermore, North America is expected to hold the largest market share during the forecast period due to the rising demand for polyurethane and polystyrene foams in building and construction as well as marine applications and PVC foam in wind energy applications across the region.
Foam Plastics Market: Share & Competitor Analysis
Some of the key players operating in the foam plastics market include: The Dow Chemical Company, Wanhua Chemical Group Co., Ltd., Hexion Inc., MCNS, SABIC, BASF SE, Covestro, Huntsman International LLC, Alchemie Ltd., Cangzhou Dahua Group Co. Ltd., China Petrochemical Corporation (Sinopec Group), Shell International B.V, Total S.A., Kuwait Polyurethane Industries W.L.L., Lanxess, LG Chem Lyondellbasell Industries Holdings B.V., Kumho Mitsui Chemicals Corp., Repsol, Stepan Company, Taita Chemical Co., Ltd., Nova Chemicals Corporate, Ravago Chemicals, Tosoh Corporation, Webac-Chemie Gmbh, and Wuxi Xingda Group among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2020, Dow Chemical Company's business division Dow Polyurethanes has announced the launch of its innovative sleeps solutions developed through ComfortScience at Interzum in Cologne, Germany
In February 2020, Huntsman Corporation successfully acquired Icynene-Lapolla for distribution of spray polyurethane foam (SPF) insulation systems for residential and commercial applications
Foam Plastics Market: By Type
Foam Plastics Market: By End -Use Industry
Foam Plastics Market: By Foam Type
Foam Plastics Market: By Region
The global Foam Plastics Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Foam Plastics Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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