PUNE, India, May 11, 2016 /PRNewswire/ --
The report "Polymer Foam Market by Type (PU, PS, PVC, Phenolic, Polyolefin, Melamine, and Other), by Application (Packaging, Building & Construction, Furniture & Bedding, Automotive, and Others), by Region (North America, Europe, Asia-Pacific, and Row) - Global Forecasts to 2021", published by MarketsandMarkets, The market size is estimated to grow from USD 105.37 Billion in 2016 to USD 171.96 Billion by 2021, at a CAGR of 8.5%.
Browse 100 market data Tables and 58 Figures spread through 162 Pages and in-depth TOC on "Polymer Foam Market"
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It is driven by its diverse range of applications namely building & construction, furniture & bedding, packaging and others facilitate. Furthermore, the high demand comes from the automotive sector which finds its usefulness in a myriad of applications such as gaskets, headliners, cushioning, and cables. Environment regulations set for different industry sectors, considered in study facilitate the growth of foams. Among all regions considered, Asia-Pacific and RoW are estimated to witness a strong growth in the next five years. The demand across these regions is reinforced by the emerging markets, namely, China, Brazil, and India.
Building & Construction: The largest application of polymer foam market
Polymer foam are used in various applications such as packaging, building & construction, furniture & bedding, automotive, and others. These are the main applications considered in the report. In 2015, the building & construction application segment accounted for the largest market share, in terms of volume. The automotive application segment is estimated to register the highest CAGR between 2016 and 2021, followed by packaging application.
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Rising demand from Asia-Pacific: The major driver for polymer foam market
In 2016, Asia-Pacific is estimated to account for the largest market share, in terms of volume, and is projected to register the highest CAGR between 2016 and 2021. The robust demand in Asia-Pacific is the major driver of the Polymer Foam Market. China led the foam demand owing to increased manufacturing and assembling of vehicles in the past 2-3 years. It is the largest consumer of polymer foam at globally. Other emerging economies such as Brazil, India, and Mexico are projected to have a positive future in this market.
The scope of the report covers detailed information regarding the major factors influencing the growth of the polymer foam market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.
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