Structural Foam Market Worth $31.9 Billion by 2020
DALLAS, July 27, 2015 /PRNewswire/ --
The report "Structural Foam Market by Material (Polyethylene, Polypropylene, Polystyrene, Polyurethane & Others), by Application (Material Handling, Building & Construction, Automotive, Electrical & Electronics, & Others) and by Region - Trends and Forecasts to 2020", published by MarketsandMarkets, defines and segments the structural foam market with analysis and forecast of the market size.
Browse 142 market data tables and 61 figures spread through 183 pages and in-depth TOC on "Structural Foam Market"
http://www.marketsandmarkets.com/Market-Reports/structural-foam-market-215477914.html
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The structural foam market is projected to reach $31.9 Billion by 2020, signifying firm annualized growth of ~6% between 2015 and 2020.
North America - The biggest market for structural foam
North America dominates the global structural foam market. The technology for structural foam molding emerged in this region, and it was initially developed and adopted by Uniloy Milacron, one of the leading providers of blow molding and structural foam molding solutions. The North America structural foam market is expected to register a steady growth, as there is uninterrupted demand from material handling, automotive, and building and construction sector. Accounting for 50% of the global market, North America is the biggest market for structural foam, with the U.S. contributing to about 80% of the overall market demand in this region, in 2014. Being a pioneer, structural foam molding has been well-established in the U.S. over the past few years. Many manufacturers based in the U.S. are investing more on expanding their structural foam business in Mexico, which is one of the fastest-growing regions in the global structural foam market.
Polyethylene structural foam - The fastest-growing segment in various applications
Polyethylene structural foam is the largest and fastest-growing structural foam segment in the global structural foam market. Asia-Pacific and North America are currently the largest consumers of polyethylene structural foam, and accounted for a share of 75% of the total market size in 2014. Polyethylene offers impressive mechanical properties, flexibility, high impact resistance, and is made available at low costs. The major applications of polyethylene structural foam are manufacturing of material handling products and various components for automobiles. Polyethylene structural foam has a long life span with superior corrosion resistance, and can also be recycled easily.
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Material handling industry - The largest market for structural foam
The material handling industry is the largest end-user industry of structural foam, and it is expected to dominate the global structural foam market, by end-user. The material handling application segment accounts for 50.9% of the total structural foam market. In North America, the material handling industry occupies the highest share of 55.1% in the overall structural foam market. The U.S. is the most dominant region in the material handling application segment, followed by China, Canada, and Mexico. Some of the fast-growing markets of structural foam in the material handling industry are Japan, Spain, and Taiwan.
The U.S. and China are at the forefront of structural foam consumption, while Canada, Mexico, Japan, the U.K., and Spain are other key markets for structural foam. China is the key market in Asia-Pacific region, consuming more than half of the overall demand for structural foam, followed by Japan, Taiwan, and Indonesia, where consumption is growing at a steady rate. This growth is mainly attributed to the rapid industrialization that is currently taking place in this region.
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