Polymer foams are used at a large scale in various applications like furniture & bedding, automotive, and building & construction, among others, since they are lightweight, durable, and safe as compared to its other substitutes. Because of these qualities, polymer foam has created a buzz in the market, thereby increasing its demand across various industries.
Market Drivers and Restraints
The polymer foam market is mainly driven by the following factors:
- Intensive research & development to make foams resourceful
- High demand from automotive, building & construction, and packaging sectors
- Environmental regulations from various industries
Moreover, growing technology and innovations are also facilitating the growth of this market. In APAC, increasing population and their activities across construction and other industries are also attracting demand for polymer foams. In addition to this, various strategies are being implemented by the market players in order to strengthen their hold on the market.
However, certain environment regulations, inappropriate environment, side-effects like corrosion of metals, and higher costs can be some of the restraining factors for the growth of polymer foam market.
The value of global polymer foam market is estimated to be worth $131.1 Billion from $82.6 billion by 2018, growing at a CAGR of 7.7% between 2013 and 2018. Among countries, APAC was the dominant region in the market for polymer foam, comprising 36.5% of the total market in 2012. China and U.S. made up for around 40% of consumers of total polymer foam in 2012, whereas, Brazil is expected to show a high growth trend, in terms of consumption of polymer foam.
Among the types, Polyurethane is the largest used polymer foam, with most of the demand coming developed nations. Apart from this, the market for Polyolefin foams is also expected to grow with the highest growth rate.
The major giants in the global market for polymer foam are Armacell LLC (Germany), Adeplast S.A. (Romania), BASF SE (Germany), British Vita Foams plc (U.K.), Carpenter Co. (U.S.), INEOS Styrenics (Switzerland), JSP Corp (Japan), Recticel S.A. (Belgium), Rogers Corp (U.S.) and Woodbridge Foam Partner (U.S.).
Ask for PDF @ http://www.marketsandmarkets.com/pdfdownload.asp?id=1011
Scope of the Research
- Type: Polyurethane, Polystyrene, Polyvinyl Chloride, Polyolefin, Phenolic, Melamine, Others
- Applications: Packaging, Building & Construction, Furniture & Bedding, Automotive, Wind Energy, Others
- Geography: North America, Asia-Pacific, Western Europe, RoW