Global Polymeric Foams Market to Reach $114.6 Billion by 2026
SAN FRANCISCO, May 18, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Polymeric Foams - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: May 2021
Executive Engagements: 12633
Companies: 226– Players covered 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; Zotefoams PLC and Others.
Coverage: All major geographies and key segments
Segments: Resin Type (Polyurethane, Polystyrene, PVC, Polyolefin, Other Resin Types); End-Use (Building & Construction, Automotive, Packaging, Furniture & Bedding, Rail, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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ABSTRACT-
Global Polymeric Foams Market to Reach $114.6 Billion by 2026
Polymeric foams refer to material manufactured through mixing of solid and gas phase, which leads to the formation of foam. The rapid combination of the two phases – solid and gas leads to the creation of foam, which possesses a polymer matrix with either air tunnels or air bubbles. Polymeric foams can be classified into open cell structure or close cell structure. While open-cell foams are known to be flexible, closed cell foams exhibit rigid characteristics. Demand for polymeric foams is being driven by the material's expanding use in a wide range of applications. Building & construction, furniture & bedding, packaging, automotive and plastics constitute the major end-use markets for various types of polymer foams. Amid the COVID-19 crisis, the global market for Polymeric Foams estimated at US$85.2 Billion in the year 2020, is projected to reach a revised size of US$114.6 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Polyurethane, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$55.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polystyrene segment is readjusted to a revised 4.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.3 Billion in 2021, While China is Forecast to Reach $36.8 Billion by 2026
The Polymeric Foams market in the U.S. is estimated at US$13.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$36.8 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. A noteworthy trend cutting through all these regional markets is the growing demand for biodegradable foams. Biodegradable foams are witnessing increased adoption in countries across the world supported by the fact that environmental regulations governing various end-use industries are becoming increasingly stringent. However, when compared to petroleum derived polymer foams, biodegradable varieties are expensive.
PVC Segment to Reach $9.1 Billion by 2026
Polyvinyl (PVC) foams mostly find use in applications that require closed cell foam solutions that are temperature, moisture, and solvent resistant. These foams are widely used in industrial applications such as insulation and filtration systems, moisture seals, and stationery products such as mouse pads. In the global PVC segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.2 Billion in the year 2020 will reach a projected size of US$7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026, while Latin America will expand at a 5% CAGR through the analysis period. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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