The global polymer foam market size is expected to reach USD 207.9 billion by 2024, according to a new report by Grand View Research, Inc. It is projected to expand at a 6.6% CAGR over the forecast period. Rising demand from automotive and building and construction industries is likely to drive the market growth. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, packaging, and other such applications.
Polymer foam is widely used in building and construction, furniture and bedding, packaging and automotive among other applications. Rigid foams are used primarily as an insulation material in construction and refrigeration applications. This foam is energy-efficient and helps in cutting energy costs. Flexible foams are used mainly as a cushioning material in transportation, furniture, bedding, carpet underlay, and packaging among others.
Rising focus on development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. Manufacturing cost of these biodegradable foams is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.
The polymer foam market is segmented on the basis of type into polyurethane (PU) foam, polystyrene foam, polyvinyl chloride (PVC) foam, phenolic foam,polyolefin foam, melamine foam, and others. Polyurethane foam was the largest segment and accounted for 22.9% of the global volume. High consumer demand for comfortable mattresses, pillows, upholstery, and other furniture in an increasingly image-conscious market has influenced buying patterns and is expected to be a key growth driver.
Full Research Report On Polymer Foam Market Analysis:
http://www.grandviewresearch.com/industry-analysis/polymer-foam-market
Further key findings from the report suggest:
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The global polymer foams market demand was pegged at 21,975.0 kilo tons in 2015
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Polyurethane foam will be the largest segment by type owing to wide range of applications and superior properties such as high strength, low density, energy dissipation, weight-reduction, buoyancy, and insulation
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Building and construction was the largest application segment in 2015 and accounted for 32.7% of global market volume
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Asia Pacific is estimated to witness highest growth over the forecast period on account of increasing demand from manufacturing sector in countries including India, China, and Malaysia
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Huge investments made in the last few years by key companies, such as BASF SE (Germany), Bayer Material Science (U.S.), and The Dow Chemical Company (U.S.), to meet rising demand for polyurethane foams arising from growing global furniture and construction industries
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Key players include BASF SE, Woodbridge Foam Corporation, Sekisui Alveo AG, Sealed Air Corporation, Zotefoams PL, Ineos Styrenics International SA, and Recticel Group
View More Reports Of This Category By Grand View Research At:
https://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:
Polymer Foam Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
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Polyurethane Foam
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Polystyrene Foam
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PVC Foam
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Phenolic Foam
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Polyolefin Foam
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Melamine Foam
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Others
Polymer Foam Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
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Packaging
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Building & Construction
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Furniture & Bedding
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Automotive
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Others
Polymer Foam Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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France
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Italy
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UK
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Spain
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Russia
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Asia Pacific
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China
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India
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Japan
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South Korea
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Singapore
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Indonesia
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RoW
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Brazil
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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.
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