Polymer Foam Market to Gain Value of US$ 144.4 Bn by 2031

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Nov 10, 2022, 05:30 ET

Rapid expansion of the global building and construction industry is projected to help the Polymer Foam Market develop at a CAGR of 4.2% during 2022-2031
Increasing urbanization and improving spending power of major population in developing nations of Asia Pacific are creating revenue-generation avenues in the regional market

WILMINGTON, Del., Nov. 10, 2022 /PRNewswire/ -- A research report by Transparency Market Research (TMR) states that the global Polymer Foam Market is estimated to reach a value of US$ 144.4 Bn by the end of 2031. Besides, the TMR review notes that the market for polymer foam is expected to grow at a CAGR of 4.2% during the forecast period, from 2022 to 2031.

The regulatory bodies of several nations across the globe are implementing legislations as well as building standards in order to decrease the level of heat loss. This factor is driving the demand avenues, notes a global market study on polymer foam by TMR.

Polymer foam manufacturers are anticipated to gain profitable prospects in Asia Pacific during the forecast period. The Asia Pacific market growth is ascribed to several important factors including improving spending power of people in the region and increasing urbanization across many emerging economies of the region. This aside, the availability of raw materials and labors at lower costs in the region is anticipated to help in the growth of the Asia Pacific market in the near future.

Leading market players are investing in researches in order to develop eco-friendly products. Moreover, several enterprises are focusing on the use of strategies such as mergers, acquisitions, and new product launches in order to stay ahead of the competition. Such initiatives are likely to play key role in the growth of the global market during the forecast period.

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Polymer Foam Market: Key Findings

The government authorities of several nations are increasing initiatives that promote the adoption of sustainable buildings. Hence, the demand for energy-efficient construction materials is anticipated to rise globally in the near future. Moreover, several emerging economies are focusing on the advancement of their public and residential infrastructure. Such factors are expected to assist in the expansion of the Polymer Foam Market size during the forecast period, note analysts at TMR.
Polymer foams are gaining impetus in the recent past owing to their several advantages including insulation, light weight, low heat or sound transfer, and flexibility. Hence, the adoption of these products is being rising in the building & construction sector for insulation purposes. This, in turn, is creating profitable prospects for polymer foam manufacturers worldwide.
Polyurethane foams sheets find wide application as an insulation material in refrigerators and varied housing products. The increase in the global population is resulting into rise in the demand for different types of appliances as well as residential & commercial construction globally. These factors are foreseen to drive the growth prospects in the market in the near future, notes a TMR review report.
Flexible polymer foams and molded foams are being widely utilized in the auto-bumper systems and automotive seating. Hence, a surge in the demand for different types of automobiles owing to improving disposable income of people is prognosticated to fuel the market growth during the forecast period.

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Polymer Foam Market: Growth Boosters

The avenues for demand of Polymer Foam Market are expected to increase during the forecast period due to surge in the product requirement from the building and construction industry
Rise in the focus of government authorities of several nations on boosting their infrastructure development activities is creating business opportunities in the market

Polymer Foam Market: Key Players

Some of the key players profiled in the report are:

BASF SE
SABIC
Sealed Air Corporation
Covestro AG
Rogers Corporation
Recticel NV
Toray Industries Inc.
Zotefoams PLC
Kaneka Corporation
Total S.A.
DowDuPont Inc.
Polymer Technologies, Inc.

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Polymer Foam Market Segmentation

Type

Polyurethane
Polystyrene
Polyvinyl Chloride
Polyolefin
Others

Application

Building & Construction
Packaging
Furniture
Automotive
Footwear
Others

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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