NEW YORK, Dec. 8, 2016 /PRNewswire/ -- "The global engineered foam market size is projected to reach USD 122.30 billion by 2026"
The global engineered foam market was estimated at USD 57.30 billion in 2016, and is expected to reach USD 122.30 billion by 2026, at a CAGR of 7.9% from 2016 to 2026. The key factors expected to drive the growth of the market include high transition along with shorter product life cycles in end-use industries along with increased space research activities. Increase in the number of developments in the construction, sports & leisure, and automotive industries is also expected to further boost this market.
"Polyurethane: the largest segment of the market, based on material type"
Based on type, the engineered foam market was segmented into polyurethane, polystyrene, polyvinyl chloride, polyolefin and others. Polyurethane was the largest segment of the global engineered foam market in 2015. Polyurethanes are among the most versatile construction materials that can be formulated for various insulation and cushioning applications. They can be strong elastomers or rigid plastics, and they can be processed using extrusion, injection molding, film blowing, solution dipping, and two-part liquid molding. Owing to its unique physical characteristics, this foam is steadily replacing traditional plastic components and metals. Polyurethane foams are widely used in various end-use industries, such as aerospace & defense, medical & healthcare, transportation, manufacturing & construction, and others.
"Aerospace & Defense: the largest end-user"
Aerospace & defense industry dominated the global engineered foam market in 2015 and is expected to dominate the market during the forecast period. This high growth is attributed to the use of high-power engines with higher calorific value fuels for better combustion. Engineered foams are primarily used as materials for sealants, gaskets, insulations, and dampers. Increasing space research activities is another factor that is expected to drive the demand in this industry during the forecast period.
"Asia-Pacific: the fastest-growing regional market for engineered foam"
Asia-Pacific is expected to be the fastest-growing market for engineered foam. The continuous rise in manufacturing activities for domestic use as well as exports drive the demand for engineered foam.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 – 11%, Tier 2 – 33%, and Tier 3 - 56%
- By Designation: Director Level - 10%, C Level - 20% Others – 70%
- By Region: Europe – 33% North America - 25%, Asia-Pacific - 25%, RoW - 17%
As a part of qualitative analysis, the report provides a comprehensive analysis of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as The DoW Chemical Company (U.S.), BASF SE (Germany), Bayer AG (Germany), Sekisui Chemical Ltd. (Japan), Huntsman Corporation (U.S.), Trelleborg AB (Sweden), Inoac Corporation (Japan), Recticel NV/SA (Belgium), Vita (Lux III) S.à r.l. (U.K.), Armacell GmbH (Luxembourg), Foamcraft Inc. (U.S.), FoamPartner Group (Switzerland), Future Foam Inc. (U.S.), UFP Technologies Inc. (U.S.), and Rogers Corporation (U.S.).
The report provides the analysis of the engineered foam market across different regions. It aims at estimating the market size and future growth potential of this market across different segments such as form, end-use industry, and type. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy this report:
This report covers the following key aspects:
- What will be the market size by 2021 and what will be the growth rate?
- What are the key market trends?
- What are the key factors expected to drive the market?
- What are the challenges that impact market growth?
- Who are the key players in this market?
The global report covers key regions, such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, along with country-level analysis.
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