The report “Polymer Foam Market by Resin Type (PU, PS, PO, Phenolic), Foam Type (Rigid, Flexible), End-Use Industry (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports, & Recreational), and Region – Global Forecast to 2030 “, is projected to grow from USD 102.61 billion in 2024 to USD 142.02 billion by 2030, at a CAGR of 5.6% during the forecast period. Recent advances in foam materials have produced lightweight, robust, high-performing foams with thermal insulation, soundproofing, and flame-retardant properties, making them widely used in the automotive, construction, and packaging industries. At the same time, the sustainable push has also resulted in the development of bio foams and recyclable foams driven by the need for environmentally friendly products owing to the local content policies that prohibit the use of certain materials. These developments, particularly the outlook for polymer foams that use less energy or polymers with less environmental impact, encourage expansion of the polymer foam market.
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• 233 Market data Tables
• 50 Figures
• 287 Pages and in-depth TOC on “Polymer Foam Market – Global Forecast to 2030″
Some of the prominent key players are:
- ARMACELL (Luxembourg),
- Sheela Foam Limited (India),
- Kingspan Insulation, LLC (Ireland),
- Owens Corning (US),
- Zotefoams plc (UK), and many more….
Opportunity: Growing demand for bio-based polyols
The rapid uptake of bio-based polyols is likely to provide considerable leverage to the growth of the polymer foam industry, owing to the changing attitudes of both enterprises and consumers toward sustainable and “green” materials as opposed to orthodox petrochemical-based products. Plant fats, oils, and sugars, often called biomass, can be incorporated into polyols, essentially used to make polyurethane foam for automotive, construction, furniture, and other applications. The transformation to such eco-friendly raw materials is further exacerbated by the focus on reducing carbon footprints by the regulations and by the level of awareness of the consumer about sustainability. Not only do bio-based polyols mitigate greenhouse gas emissions, but they also perform almost the same as traditional polyols, making them a viable option for producers. With the increase in popularity of green construction materials and biodegradable packing trends, the market is likely to experience further increase in the uptake of bio-based polyols within the foam polystyrene industry, as this is in contention to the current global trends of circular economies and sustainable growth.
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By resin type, the polyurethane segment is expected to account for the largest market share in terms of value during the forecast period.
Based on resin type, the polyurethane segment is estimated to account for the largest share of the market during the forecast period. This unique market share can be attributed to polyurethane’s versatility and a vast range of applications in major sectors, including automotive, construction, packaging, and bedding and furniture sectors. Both rigid and flexible polyurethane foams are often chosen due to characteristics like durability and lightweight nature. Polyurethane is used for soundproofing, energy absorption, and thermal insulation applications in the building and construction industry. It is also found in the automotive sector and in sealing and cushioning functions. Thus, polyurethane’s ability to meet a wide range of functional requirements is one of the primary reasons for its dominance in the polymer foam market.
Asia Pacific is projected to register the largest market share during the forecast period.
Asia Pacific is estimated to lead the market during the forecast period. The Asia-Pacific region is expected to have the largest market share in the polymer foam market due to numerous factors. The rapid urbanization and industrialization of countries and areas in the Asia Pacific have led to a substantial increase in demand for polymer foams in construction industries, automotive, and packaging, especially in developing countries such as China, India, and Southeast Asian countries. The increasing construction activities in these regions utilize polymer foams in residential and commercial buildings for insulation, soundproofing, and structural uses. Also boosting the product demand is the region’s growing automotive manufacturing sector, which is on the rise due to lightweight materials, such as polyurethane and polystyrene foams, which help improve the efficiency of motor vehicles. Due to the expansion of the e-commerce and retail industries in the Asia Pacific region, there has also been an increasing requirement for polymer foams used in packaging. In addition, the growth of this market is facilitated by the presence of cheap raw materials and labor and the growing commitment towards investments in eco-friendly foam technologies.