The global polymer foam market is expected to reach USD 207.9
Billion by 2024, according to a new report by Grand View Research, Inc.
Increasing demand for polymer foam from two core industries which include
automotive and building & construction is expected to be a principal factor
in stimulating growth over the forecast period.
Increasing penetration of the product in the automotive
industry in various automotive components such as interior panels, upholstery
and seating arrangements in the car is expected to be a crucial factor in
promoting an expansion of the product. The automotive sector accounted for
14.6% of the global volume share in 2015. Growing demand from automotive
industries from emerging economies such as India, Japan, and China will result
in improving demand for the product over the forecast period.
Building & construction and packaging are some of the
essential applications for polymer foams. They are increasingly being used in
the building & construction industry in various areas including insulation,
flooring, pipes and windows. This will help in contributing towards the growth
of the overall polymer foam industry.
Browse full research report on Polymer Foam Market: http://www.grandviewresearch.com/industry-analysis/polymer-foam-market
Further key findings from the report suggest:
- North
American polymer foam market is expected to grow at a CAGR of 5.1% from
2016 to 2024 in terms of volume on account of rising construction sector
in countries which such as Mexico and Canada. Construction and packaging
sectors have witnessed a significant rise in the penetration of polymer
foam in the region on account of their superior material characteristics
which has resulted in improving market dynamics of the product in the
region.
- Asia
Pacific is expected to witness the fastest growth over the projected
period. Rising automotive sector and industrial sector in emerging
economies such as India and China are likely to propel expansion of the
product over the next eight years. The market is predicted to reach a
value of USD 93.9 billion by 2024. Adoption of cost-effective methods for
manufacturing will play an important role in improving the market
conditions of polymer foams. This will result in a positive impact on
overall demand for polymer foam.
- The
demand for polymer foam in the packaging sector was 4,417.37 kilo tons in
2015. Various government policies including FDI and “Make in India’’ is
expected to drive the industrial sector in India. Rising industrial and
automotive sectors in different countries including India, China, and the
U.S. will play a significant role in influencing growth over the forecast
period.
- Key
industry players include BASF SE, Recticel S.A., Woodbridge Foam Partner,
INEOS Styrenics, British Vita Foams Plc, Carpenter Company, Rogers Corp,
Adeplast S.A, Armacell LLC and JSP Corp. Companies in this sector are
increasing their production volumes to expand their business presence and
gain market share.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global polymer foam
market on the basis of type, application, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Polyurethane
Foam
- Polystyrene
Foam
- PVC
Foam
- Phenolic
Foam
- Polyolefin
Foam
- Melamine
Foam
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- Packaging
- Building
& Construction
- Furniture
& Bedding
- Automotive
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Russia
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Singapore
- Indonesia
- RoW
- Brazil
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-polymer-foam-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more Info: www.grandviewresearch.com
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