Foam Market worth $118.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 7, 2021 /PRNewswire/ -- According to the new market research report "Foam Market by Type (Polyurethane, Polystyrene (EPS & XPS), Polyolefin (PE, PP, EVA), Phenolic, PET), Type (Rigid, Flexible), End-Use Industry (Construction, Packaging, Automotive, Furniture & Bedding, Footwear), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Foam Market size is estimated at USD 93.9 billion in 2021 and is projected to reach USD 118.9 billion by 2026, at a CAGR of 4.8% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted market growth.
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Polyurethane is projected to be the largest foam type in the foam market.
MDI, TDI, polyether polyols, and polyester polyols are the major raw materials used to make polyurethane foam. PU foam has open-cell structures. Generally, manufacturers make these foams by reacting polyols and diisocyanates, both of which are extracted from raw petroleum. A blowing agent is used to blow the cells of the foam and expand its volume to form lightweight PU foam. Generally, polyols with TDI (toluene diisocyanate) produce flexible foam, which is mainly used to make flexible slab stock foam, while polyols with MDI produce rigid foam. PU foam has a low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. It is available in a wide range of rigidity, hardness, and density levels. Low-density flexible foam is used in upholstery, bedding, automotive and truck seating, and novel inorganic plant substrates for roof or wall gardens. It is also used in thermal insulation and RTM cores. PU foam is categorized into three sub-segments - flexible PU foam, rigid PU foam, and spray PU foam.
Building & construction is expected to lead the foam market.
Foam is used in the building & construction industry for forging, pipe-in-pipe, doors, roof board, and slabs. PU foam is widely used for insulation as it has a low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties. Closed-cell PVC foam is used as a core material for the construction of high-performance sandwich structures.
Excellent acoustic absorption quality and high thermal insulation properties allow melamine to be used in the marine craft, generators, and compressor rooms. There is an increased demand for high-end products such as acoustic panels, suspended baffles, and metal ceiling panels in the construction industry.
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APAC is the largest foam market globally.
The foam market in APAC is segmented into China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, and the Rest of APAC. The region is the fastest-growing in the foam market, driven by high economic growth and heavy investments in the automotive, marine, building & construction, and manufacturing industries. The growth of the APAC market is propelled by the increasing use of foam in the building & construction, automotive, footwear, sports & recreational, furniture & bedding, and packaging industries. The demand for high-quality products, rising population, and the growing end-use industries have led to innovation and development in the market. The continuous growth in the manufacturing of products for domestic use, as well as exports, drives the demand for foam in the region.
BASF SE (Germany), Armacell International S.A. (Germany), JSP (Japan), Kaneka Corporation (Japan), Recticel (Belgium), Rogers Corporation (US), Sealed Air Corporation (US), Arkema (France), and Zotefoams Plc (UK) are some of the major players catering to the demand for foam, globally.
Browse Adjacent Markets: Chemical Market Research Reports & Consulting
Related Reports:
1. PACKAGING FOAM MARKET- GLOBAL FORECAST TO 2022
by Structure Type (Flexible Foam, Rigid Foam), Material Type (Polystyrene Foam, Polyurethane Foam, Polyolefin Foam), Service Type (Food Service, Protective Packaging), and Region
https://www.marketsandmarkets.com/Market-Reports/packaging-foam-market-175027446.html
2. RIGID FOAM MARKET- GLOBAL FORECAST TO 2022
by Type (Polyurethane, Polystyrene, Polyethylene, Polypropylene, Polyvinyl-Chloride), End-Use Industry (Building & Construction, Appliances, Packaging, Automotive), Region
https://www.marketsandmarkets.com/Market-Reports/rigid-foam-market-48172921.html
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