Polymer Foam Market Size, Share & Trends Report

Polymer Foam Market Size, Share & Trends Analysis Report By Type (Polyurethane, Polystyrene, PVC, Phenolic, Polyolefin, Melamine), By Application, By Region, And Segment Forecasts, 2018 - 2024

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-932-6
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2015
  • Number of Pages: 170

Industry Insights

The global polymer foam market size was estimated at USD 113.9 billion in 2015 and is projected to expand at a CAGR of 6.6% from 2016 to 2024. Growing applications in various industries such as packaging, furniture and bedding, and automotive industries are expected to drive the market demand over the upcoming years.

U.S. polymer foam market

Polymer foams are extremely lightweight and versatile, highly durable, mildew resistant, and dermatologically-friendly. These properties make them safe and recommendable for numerous consumer applications. They are considered suitable for infants and adults with sensitive skin. Polystyrene foams have witnessed a rise in penetration levels over the past few years especially in the packaging sector. They are extensively used to make takeout trays and boxes, used by cafeterias and restaurants. This has helped driving overall market share of polystyrene foams.

Environmental benefits of this product include high recyclability, clean incineration for pollutant filtration, reduced wastage, and greater sustainability. However, several governments and federal agencies are increasingly raising concerns regarding detrimental health effects of isocyanates utilized in polyurethane production.

Significant technological advancements such as introduction of bio-based polyols and non-toxic isocyanates are also likely to promote PU foams demand in several applications. Existing and new market entrants are thus compelled to innovate or improve their current production processes to gain higher margins in this extremely competitive industry. Major multinationals, such as Bayer and the Dow Chemical Company have developed innovative manufacturing processes and raw materials to reduce dependence on conventional fossil-fuel based resources and to improve production yield.

Emerging markets across Asia Pacific are gearing up their production facilities to meet ever-growing demands from burgeoning population. Countries such as China and India, with high GDP growth rates are expected to witness rapid growth in automotive, construction, pharmaceuticals, and manufacturing sectors. These factors are likely to foster demand in several related applications.

Governmental support in the form of tax incentives and subsidy schemes to encourage manufacturing sector in these countries is also likely to promote demand for bio-based PU to replace environmentally harmful crude oil based solvents. Initiatives such as “Make in India” by Indian government seek to facilitate investments and encourage domestic production. This is expected to generate high returns for companies investing in high potential products such as polyurethane, polystyrene, and PVC foams especially with the introduction of their bio-based counterparts.

Type Insights

Polyurethane foam dominated the global polymer foam market in 2015 and is expected to maintain its dominance throughout the forecast period. Polyurethane foam is used in various applications including furniture, cushions, and carpets. It has a wide customer base owing to its superior capabilities such as lightweight, low heat and sound transfer, high-energy dissipation, and insulation. Increasing demand for residential and commercial space in Southeast Asian countries such as Thailand, Korea, Indonesia, and Malaysia is further expected to fuel product demand in construction applications.

Global polymer foam market

Superior insulating properties makes polymer foam ideal for roofs and walls in new houses. It helps maintain uniform temperature and reducing noise levels in houses. This property helps in saving energy consumption and money in regions with extreme temperatures. When combined with proper additives, PU foam work as moisture and external weather barrier.

Application Insights

Building and construction was the largest segment owing to rising applications of polymer foam for insulation purposes, flooring, pipe, molding, and in wire and cables. Furniture and bedding will remain the second largest segment owing to increasing applications such as carpet padding, fibers,chair cushions, mattress padding, and furniture.

Automotive is estimated to be the fastest growing segment over the forecast period, on account of increasing use of polymer foams in various automotive components such as seats, dashboards, power trains, and suspension bushings. Recovery of U.S. automobile sector coupled with growing automotive production in emerging economies of India and China is expected to have a positive impact on the overall market. Packaging is expected to follow automotive segment and is expected to witness significant growth owing to growing demand for polystyrene foams from the packaging sector.

Regional Insights

Asia Pacific was the largest region, and accounted for 42.6% of global volume share in 2015. Positive outlook for manufacturing industry in light of growing focus on research and development coupled with favorable government initiatives to attract investments is expected to result in regional market expansion.

Growing industrialization, production of automobile interiors or parts, and packaging industries in emerging economies such as India and China are expected to boost demand over the forecast period. Rising foreign direct investment is expected to contribute to investments in these sectors.

Polymer Foam Market Share Insights

Key polymer foam manufacturers include Bayer AG, Sekisui Chemicals, Arkema, Armacell International S.A, Sealed Air Corporation, Recticel, Woodbridge Group, and Rogers Corp. Highly integrated players include BASF, The Dow Chemicals, and Woodbridge Group. In March 2016, Kolon Plastics and BASF signed an agreement to establish a joint-venture in Korea to manufacture Polyoxymethylene (POM), an engineering plastic used in industrial, transportation, construction, and consumer sectors.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Volume in Kilo Tons, Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Rest of the World

Country scope

U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, China, India, Japan, South Korea, Singapore, Indonesia, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global polymer foam market report 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

      • U.K.

      • Spain

      • Russia

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Singapore

      • Indonesia

    • Rest of the World (RoW)

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