The global polymer foam market size is likely to riseremarkably in the forecast period on account of increasing demand for polymerfoams from the building and construction sector. Fortune Business Insightsprovides a detailed analysis of the market in their report titled, “PolymerFoam Market Size, Share & Industry Analysis, By Type (Polyurethane (PU),Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), ByApplication (Automotive, Building & Construction, Packaging, Furniture,Appliances, Apparel and Others), and Regional Forecast, 2019-2026”. Accordingto the report, the polymer foam market is anticipated to reach USD 154.08billion by 2026 from USD 110.85 billion in 2018 with a CAGR of 4.28%, withinthe forecast period of 2019 to 2026.
The report offers a comprehensiveanalysis of the polymer foam market, chiefly focusing on crucial aspects suchas growth drivers, restraints, trends, and opportunities. It also throws lighton the current industry insights and key developments of the market. Besidesthis, the report lists the names of significant players in the market and majorstrategies adopted by them in order to stay ahead of the competition. Detailedsegmentation of the market is also provided in the report including the regionalsegmentation. All information presented in the report is gathered from primaryand secondary research methods. The report is available for sale on thecompany’s website.
As per the current polymer foam markettrends, the market is segmented on the basis of type, application, andgeography. In terms of application, the building and construction segment willlead with 49.10% share. This is attributable to the durable, versatile, andlightweight features of polymer foam.
Asia Pacific to Lead Owing to Presenceof Major Market Vendors
Geographically, the market is dominatedby Asia Pacific and likely to remain the same in the forecast duration as well.This is attributable to the increasing demand from the building andconstruction application and packaging industries in the region. The rise inpopulation, coupled with the increase in disposable income and change inlifestyle of people has led to a surge in construction activities in theregion. An increase in the number of building activities in the developingnations of Asia Pacific such as India and China are boosting the regionalmarket. China, India, and Japan are the key nations contributing major sharesto the market globally. Besides this, the rise in demand from the interiordesigning sector is likely to help Europe generate remarkable polymer foammarket revenue in the forecast period.
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Fragmented Nature of Market to PropelPlayers to Set New Trajectories
The competitive landscape of thepolymer foam market is fragmented in nature owing to the presence of bothinternational as well as local players. Most of the key players have their basein Asia Pacific, thus making this region dominate the market. Some of the keyindustry developments in the polymer foam market include:
March 2019 – A specialty chemical producer of damping, sealing,bonding, and reinforcing solutions for the construction and automotive industrycalled Sika AG acquired a Belarus based manufacturer of polyurethane foamsystems called Belineco LLC IN March 2019. This acquisition is anticipated toprovide the opportunity of developing polyurethane foams to Sika.
July 2019 – Texas Foam, the Bastrop-based company in Texas,U.S., was acquired by a North American provider of energy management componentsand protective packaging solutions called Huntington Solutions, LLC. The main focusbehind this acquisition was to broaden the production capabilities of TexasFoam.
Some of the significant playersoperating in the polymer foam market include:
- SABIC
- KANEKA CORPORATION
- BASF SE
- Synthos
- Polymer Technologies, Inc.
- Armacell International S.A
- Sealed Air
- Celanese Corporation
- Toray
- Total
- Sekisui Alveo
- Zotefoams plc
- Borealis AG
- Arkema
