Global polymeric foams market analysis and insights
The global polymeric foams market estimated at US$89.6 billion in the year 2022 is now projected to grow at a CAGR of 5.32% and reach US$122.3 billion by 2028. Rising demand from the automotive and building and construction industries is likely to drive the market. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging, among other applications.
Rigid types are primarily used as insulation material in construction and refrigeration applications. They are energy-efficient and help in cutting energy costs. Flexible types are mainly used as cushioning material in transportation, furniture, bedding, carpet underlay, and packaging, among others.
The rising focus on the development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. The manufacturing cost of these biodegradable types is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.
Expanded polystyrene-based products have excellent shock absorbing properties and are preferred in storing, packaging, and transporting electrical equipment, cooked food, and perishable goods. They are also preferred in various marine floatation applications, including the construction of floating docks, surfboards, and boat stands.
Polyolefin foams including polypropylene and polyethylene are expected to witness significant expansion in the forthcoming years. Traditionally, the low melt strength of these products, particularly polypropylene, limited the growth of this segment in the global market. Several technologies including post-reactor radiation and compounding modifiers method have been introduced by various polyolefin manufacturers. The aim is to improve the strength of polyolefins to meet the requirements of wind energy applications, including spar webs and shell panels, and marine applications like vibration control and cushion seats.
Polymeric foams regional market insights
North American polymeric foams market is expected to grow significantly over the forecast period. This growth can be attributed to rising demand for polyurethane and polystyrene foams in building and construction and marine applications and PVC foam in wind energy applications. U.S. contributed around 78% of the total North American polymeric foams market and is estimated to have a market value of US$14.5 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 4.83% and 3.52% respectively over the 2022-2028 period.
Asia-Pacific polymeric foams market is anticipated to witness an upsurge owing to the rising demand from various applications including packaging and construction activities. The market in Asia Pacific is mainly driven by factors such as rising building & construction activities, which can be attributable to the increasing population and increase in the disposable income of people in this region. China is expected to dominate the Asia-Pacific market and reach a market size of US$39.8 billion by 2028.
Within Europe, Germany, Italy and France are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 4.61% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include Abriso-Jiffy NV; Achilles Corporation; American Excelsior Company; Armacell International SA; BASF SE; Boyd Corporation; Carpenter Company; Covestro AG; Dow, Inc.; Eurofoam GmbH; Foampartner, Inc.; FXI; Huntsman International LLC; JSP Corporation; Kaneka corporation; Polymer Technologies, Inc.; Recticel; Rogers Corporation; SABIC; Sealed Air Corporation; Sekisui Alveo AG; SIMONA AMERICA Industries; Sonoco Products Company; Synthos S.A.; Tekni-Plex, Inc.; The Woodbridge Group®; Toray Industries, Inc; Trelleborg AB (Sweden); Vita Cellular Foams (UK) Limited and Zotefoams PLC, among others.
Polymeric foams market scope
- By type
- Polystyrene (PS)
- Polyurethane (PU)
- Polyethylene
- Polypropylene
- Polyvinyl Chloride (PVC)
- Phenolic foam
- Polyimide (PI)
- Melamine
- Others
- By form
- Rigid foams
- Flexible foams
- Closed cell foams
- Open cell foams
- High density foams
- Others
- By technology
- Foaming process
- Foaming methods
- Processing methods
- Casting
- Reaction Injection Molding (RIM)
- Gas dissolution
- Electrospinning/Electrospraying
- Bead foam technology
- Others
- By application
- Building & construction
- Packaging
- Furniture & bedding
- Footwear
- Sports and recreational goods
- Automotive
- Railway
- Aerospace and defense
- Others
- By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 282 |
| Published | May-2023 |
| Forecast Period | 2022-2028 |
| Estimated Market Size in 2022 | US$89.6 billion |
| Forecasted Market Size by 2028 | US$122.3 billion |
| CAGR | 5.32% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | Abriso-Jiffy NV; Achilles Corporation; American Excelsior Company; Armacell International SA; BASF SE; Boyd Corporation; Carpenter Company; Covestro AG; Dow, Inc.; Eurofoam GmbH; Foampartner, Inc.; FXI; Huntsman International LLC; JSP Corporation; Kaneka corporation; Polymer Technologies, Inc.; Recticel; Rogers Corporation; SABIC; Sealed Air Corporation; Sekisui Alveo AG; SIMONA AMERICA Industries; Sonoco Products Company; Synthos S.A.; Tekni-Plex, Inc.; The Woodbridge Group®; Toray Industries, Inc; Trelleborg AB (Sweden); Vita Cellular Foams (UK) Limited and Zotefoams PLC, among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
