New Study from StrategyR Highlights a $114.6 Billion Global Market for Polymeric Foams by 2026
SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Polymeric Foams - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 17; Released: February 2022
Executive Pool: 12633
Companies: 161 - Players covered include Abriso-Jiffy NV; Achilles Corporation; American Excelsior Company; Armacell International SA; BASF SE; Boyd Corporation; Carpenter Company; Covestro AG; Dow, Inc.; Eurofoam GmbH; Foampartner, Inc.; FXI; Huntsman International LLC; JSP Corporation; Kaneka corporation; Polymer Technologies, Inc.; Recticel; Rogers Corporation; SABIC; Sealed Air Corporation; Sekisui Alveo AG; SIMONA AMERICA Industries; Sonoco Products Company; Synthos S.A.; Tekni-Plex, Inc.; The Woodbridge Group®; Toray Industries, Inc; Trelleborg AB (Sweden); Vita Cellular Foams (UK) Limited; Zotefoams PLC and Others.
Coverage: All major geographies and key segments
Segments: Resin Type (Polyurethane, Polystyrene, PVC, Polyolefin, Other Resin Types); End-Use (Building & Construction, Automotive, Packaging, Furniture & Bedding, Rail, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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ABSTRACT-
Global Polymeric Foams Market to Reach $114.6 Billion by 2026
Polymeric foams are materials manufactured through rapid mixing of solid and gas phase, which leads to the formation of foam with a polymer matrix, with air tunnels or air bubbles. This material features a polymer matrix of air tunnels resembling a porous structure. The foams offer stiffening and weight saving capabilities because of which, they are used in a variety of structural applications. Demand for polymeric foams is being driven by the material's expanding use in a wide range of applications. Building & construction, furniture & bedding, packaging, automotive and plastics constitute the major end-use markets for various types of polymer foams. Demand mainly emerges from the two core industry verticals, namely building & construction and automotive. With these two end-use sectors currently facing challenging due to the COVID-19 outbreak and the economic contraction forecast for the near term future, the growth prospects in the global polymeric foams market is also being impacted. In the years ahead, a strong construction sector and increased demand for lightweight and fuel efficient vehicles are anticipated to drive market growth for polymer foams. The foams are also being increasingly used in the renewable energy sector, especially the wind energy sector, which is also anticipated to lead to significant market growth over the coming years. Growing emphasis on sustainability is also expected to drive up demand for green building materials such as eco-friendly polymeric foams.
Amid the COVID-19 crisis, the global market for Polymeric Foams estimated at US$90.5 Billion in the year 2022, is projected to reach a revised size of US$114.6 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Polyurethane, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$55.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polystyrene segment is readjusted to a revised 4.8% CAGR for the next 7-year period. Polyurethane foam witnesses strong demand from bedding products and mattresses end-uses, more particularly in mid- and low-income economies like Vietnam, Indonesia, Bangladesh and India. Demand is also growing fast for polystyrene foam, which is considered comparatively more environment-friendly. It is also considered to be the better quality insulation material among alternatives. The packaging industry creates strong demand for this foam variety to leverage its properties of high versatility, thermal insulation, low cost and lightweight.
The U.S. Market is Estimated at $13.8 Billion in 2022, While China is Forecast to Reach $36.8 Billion by 2026
The Polymeric Foams market in the U.S. is estimated at US$13.8 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$36.8 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. Asia-Pacific represents the major regional market for polymeric foams. Over the years, the vast population base and rapidly expanding building & construction and industrial sectors have contributed to the robust growth of polymer foams in the region. Increasing automobile sales, rapid urbanization trend and focus on major infrastructure development initiatives have also supported the market growth. On the other hand, developed markets of North America and Europe are likely to witness stable demand for polymer foams, especially in packaging, marine and aviation sectors. Demand for polymeric foams in most developed countries is forecast to register growth driven by recovering demand from construction and automotive industries.
PVC Segment to Reach $9.1 Billion by 2026
In the global PVC segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.2 Billion will reach a projected size of US$7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026, while Latin America will expand at a 5% CAGR through the analysis period.
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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