The global structural foam market is expected to reach USD 42.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 5.8%CAGR owing to Increasing infrastructure spending, particularly on residential & commercial buildings, has been a key factor driving the market growth. Moreover, the rising demand from material handling, automobile, and electrical & electronics, is also likely to contribute to the product demand over the forecast period.
Increasing construction spending, particularly in emerging markets of Brazil, China, India, Mexico, Russia, and South Africa is expected to drive injection molded structural foam demand in these regions. Besides, positive outlook of the global automotive and packaging industries coupled with versatile properties of structural foams including better heat and pressure resistance increases their application scope in various industries.
However, volatility in prices of essential raw materials along with the growing environmental issues concerning their disposal is anticipated to hamper the market growth during the forecast period. On account of these concerns, many of the industry participants are aiming to develop bio-based foams using the injection molding technique.
Key market players such as SABIC, One Plastic Group, and Covestro AG are among the companies involved in the production and distribution of the products and have established themselves as key market participants and have high integration throughout the value chain.
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Further key findings from the report suggest:
The global structural foam demand was 4,059.0 kilo tons in 2016 and is projected to grow at a CAGR of 5.3% from 2017 to 2025
Polyethylene foam segment was the largest product segment in 2016 and is expected to generate revenue over USD 15.62 billion by 2025
Global structural foam in automotive segment was valued at USD 6.81 billion in 2016 and is projected to witness a growth at a CAGR of 6.2% over the forecast period
The U.S. structural foam market in building & construction was 518.8 kilo tons in 2016 and is likely to reach an overall volume of 851.6 tons by 2025
The market in Asia Pacific is anticipated to witness considerable growth over the next few years owing to various advances across key regions, especially in the India and China. In terms of revenue, the regional market is likely to grow at a CAGR of 6.4% from 2017 to 2025
Key market participants include Armacell International S.A., BASF, Diab International AB, The Dow Chemical Company, SABIC, One Plastic Group, Covestro AG, Evonik Industries and others.
Grand View Research has segmented the global structural foam market on the basis of product, application, and region:
Structural Foam Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Structural Foam Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Building & Construction
Electrical & Electronics
Structural Foam Regional Outlook (Volume, Kio Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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