Dallas, TX -- (SBWire) -- 02/06/2019 --Adroit Market Research launched a study titled, "Global Polymer Foam Market Size 2017 by Type (Polyurethane Foam, Polystyrene Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam and Others) by Application (Packaging, Building & Constructions, Furniture & Bedding, Automotive and Others) by Region and Forecast 2018 to 2025"
The global polymer foam market size is projected to reach USD 187.17 billion in 2025 driven by high demand for polymer foam from Asia Pacific. Increasing consumption across the industries such as automotive, bedding & furniture and building & construction is expected to boost the market further.
Owing to increasing environmental issues and reducing petroleum resources, manufacturers have started using renewable sources for the development of polymer foams. Manufacturers are working on developing polyol foams derived from different renewable sources such as pine wood, sugarcane bagasse, vegetable oils, eucalyptus and corncobs.
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The polymer foam market growth is primarily accelerated by the rising number of off shore wind turbines. Polymer foams enable ease of installation, transportation, assembly and dissembly of large turbine blades due to its light weight property. In February 2017, 3 A Composite a chemical company launched PET Foams based products, AIREX T10.60 and BALTEK VBC QX. These products generated new solutions for light weight turbine blades.
Polyurethane is one of the leading raw materials for polymer foam due to its diverse and wide-ranging properties. It is used in an extensive range of mattresses, durable applications, vehicles and upholstered furniture. For instance, according to European Association of Flexible Polyurethane Foam Blocks Manufacturers, in 2016 nearly 90% of mattresses that are manufactured in Europe were made up of polyurethane foam ranging between 2 & 15 kg per unit.
The global polymer foam market size on the basis of geography, is led by Asia Pacific, recording the highest consumption of polymer foam in 2017, where, China accounted for majority of the share. The region is estimated to witness fastest growth rate over the forecast period on account of accelerating demand from automotive, construction, manufacturing and packaging industries.
The global polymer foam market is fragmented in nature with a large number of global and regional players. Market players are looking to gain competitive advantage through acquisitions. For instance, in January 2017, Zotefoams fully acquired Kunshan ZOTEK King Lai ("KZKL") one of its own joint venture. Additionally, the companies are launching new products to sustain the high competition in the market. In November 2018, BASF launched innovative Cavipor insulation material for building & construction, which would enable the double wall masonry to sustain energy renovation.
Polymer foam is widely used in furniture, bedding, buildings, construction, automotive and packaging due to its unique properties and versatile nature. Rigid foams are widely used as an insulation material in refrigeration and construction applications. Insulation helps to effectively close air leaks and seal gaps and maintain indoor air temperature, eventually reducing energy costs. Flexible foams are used in manufacturing of bedding, furniture, carpet and packaging materials.
The top players in the global polymer foam market are Armacell International S.A, BASF, Borealis AG, Polymer Technologies, Inc., Arkema Group, E. I. du Pont de Nemours and Company, Zotefoams plc, Synthos SA, Sekisui Alveo AG and JSP Corporation.
Key segments of the global polymer foams market
Types Overview, 2015-2025 (USD million) (Kilo tons)
Polyurethane Foam
Polystyrene Foam
PVC Foam
Phenolic Foam
Polyolefin Foam
Melamine Foam
Others
Application Overview, 2015-2025 (USD million) (Kilo tons)
Packaging
Building & Constructions
Furniture & Bedding
Automotive
Others
Regional Overview, 2015-2025 (USD million) (Kilo tons)
North America
US
Europe
United Kingdom
Germany
Asia Pacific
India
China
Japan
Rest of the World
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