Global Polymer Foam Market

Global Polymer Foam Market Size, Share, Growth Analysis, By Type(Polyurethane (PU), Polystyrene (PS)), By Application(Furniture, Transportation) - Industry Forecast 2023-2030


Report ID: SQSG15E2015 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 75

Global Polymer Foam Market Insights

Global Polymer Foam Market size was valued at USD 123.1 billion in 2021 and is poised to grow from USD 128 billion in 2022 to USD 170.1 billion by 2030, growing at a CAGR of 3.6% in the forecast period (2023-2030).

The market for polymer foam is anticipated to increase due to expanding applications in a number of industries, including the packaging, furniture and bedding, and automotive sectors. Polymer foams are incredibly light and adaptable, exceedingly strong, mould and mildew resistant, and dermatologist-friendly. They are safe and advisable for many consumer applications due to these qualities. Foams made of polyurethane are frequently utilized in the automotive, maritime, and building and construction sectors.

The wide range of applications in the building and construction, automotive, and marine industries, together with the strong industrial growth in the Asia Pacific region, have all contributed to the enormous rise of the polymer foam market. The need for polymer foam is further increased by its key properties, which include being lightweight, vibration- and corrosion-resistant, and recyclable. However, the primary factors anticipated to restrain the growth of the polymer foam market over the anticipated period are variations in availability and raw material prices. Due to increased environmental concerns in industrialized nations like North America and Europe, the primary trend in the polymer foam market is also a considerable shift toward biobased polymer foam.

US Polymer Foam Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 123.1 billion

Largest Segment

Transportation

Fastest Growth

Transportation

Growth Rate

3.6% CAGR

Global Polymer Foam Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Polymer Foam Market Size By Application , 2021-2028($ Bn)
Global Polymer Foam Market Size By Application , 2021-2028 (%)

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Global Polymer Foam Market Segmental Analysis

The Global Polymer Foam Market is segmented based on the Type, Application, and region. Based on the Type, the Global Polymer Foam Market is segmented as Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polypropylene (PL), Polyvinyl Chloride (PVC), and Others. Based on Application, the Global Polymer Foam Market is segmented as Furniture, Transportation, Packaging, Building and Construction, And Others. Based on Region Polymer Foam Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Polymer Foam Market Analysis by Type

Based on the Type, the Polymer Foam market is bifurcated into Polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PL), polyvinyl chloride (PVC), and others. The market share that belongs to polyurethane is the largest due to polyurethane's expanding use in furniture, building, and transportation. These foams have low densities, low heat conduction coefficients, and little water absorption, which makes them excellent for vehicle seats and a variety of furniture foams. In addition, polyurethane foams, which are utilized in sofa sets and cushion materials, have a very low density that is around four times lower than that of traditional rubber.

Polymer Foam Market Analysis by Application

Based on Application the Polymer Foam market is segmented into furniture, transportation, packaging, building and construction, and others. The building and construction category held the most market share due to the growing use of polymer foam in wire and cable insulation, floors, pipes, molding, and other applications. Due to an increase in applications, including carpet padding, fibers, chair cushions, mattress padding, and furniture, the furniture and bedding industry is predicted to rise. On account of the growing product use in various vehicle components, such as seats, dashboards, power trains, and suspension bushings, the automotive market is predicted to have profitable expansion over the projection period. The expansion of the market is anticipated to be positively impacted by the U.S. car industry's recovery and rising automotive demand in China and India, two emerging economies. The packaging industry is anticipated to increase significantly after the automobile industry as a result of the booming need for polystyrene foams in this industry.

Global Polymer Foam Market By Application , 2021(%), 2021 (%)

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Global Polymer Foam Market Regional Insights

Asia-Pacific is the global polymer foam market leader. The region has the biggest market share, owing to key rising markets like China, India, Malaysia, and Indonesia, as well as developed countries like Taiwan, Japan, and South Korea. This region is home to some of the largest polymer foam producers and users. Followed by China, with the theme of innovation and green development, the polyurethane sector has reached a new stage. Polyurethane downstream product output, including as construction materials, spandex, synthetic leather, and automobiles, currently ranks first in the world. The country is aggressively marketing water-based coatings, enacting new building energy conservation rules, and developing new energy vehicles, all of which provide significant market potential for the polyurethane industry. China's proposed "dual-carbon" target will accelerate the growth of building energy-saving and clean energy industries, as well as provide new development opportunities for polyurethane insulating materials, coatings, composite materials, adhesives, and elastomers.

Global Polymer Foam Market By Geography, 2021 - 2028, 2023-2030
  • Largest
  • Fastest

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Global Polymer Foam Market Dynamics

Polymer Foam Market Driver

  • The global polymer foam market is driven by the significant growth that the plastic packaging sector has witnessed. The food and beverage sector has a particularly high demand for packaging on a global scale. Food and beverage delivery, catering, and retail all require packaging. As a result, it is necessary to package food and beverages in sachets, containers, pouches, and plastic bags, which serve as the main outlets for polyethylene.
  • Polymer foams are widely used in building and construction, protective packaging, automotive, medical, footwear, sports, and recreational industries. Polyethylene foams are used in the building and construction industry for things like slabs, doors, roof boards, and pipe-in-pipe. XLPE foams are ideal for use in the building and construction industry because of their exceptional thermal insulation, moisture resistance, and sound and vibration absorption qualities.

Polymer Foam Market Restraint

  • The availability of a wide range of environmentally suitable substitutes and the government's growing concern about environmental problems caused by plastics could have a detrimental effect on industry expansion. For instance, in packaging applications, recycled plastics, bamboo fiber, and biodegradable polymers might take the place of traditional polystyrene foams.
  • The pricing and accessibility of raw materials are the elements that affect the cost structure of products. Naphtha, low-density polyethylene (LDPE) resin, high-density polyethylene (HDPE), and additives are the main basic materials used to create polyethylene foams. The cost structure of the items' manufacture is impacted by volatile raw material costs. Due to the increased global demand, unrest, and foreign military action in the Middle East over the previous two years, oil prices have been extremely unpredictable. The market for polyethylene foams is constrained by these volatile raw material prices. The market for polyethylene foams has been impacted recently by changes in raw material prices based on petrochemicals.
  • Polymer foam is highly combustible and prone to catching fire easily if not handled with precautions.

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Global Polymer Foam Market Competitive Landscape

The Global Polymer Foam market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Polymer Foam Market Top Player's Company Profiles

  • Zotefoams plc
  • BASF SE
  • Dow Chemical Company
  • Huntsman Corporation
  • Recticel NV/SA
  • Sealed Air
  • Armacell International S.A.
  • Synthos S.A.
  • Rogers Corporation
  • Foam Partner Group
  • Borealis AG
  • JSP Corporation
  • The Woodbridge Group
  • UFP Technologies, Inc.
  • Greiner Holding AG
  • Sekisui Chemical Co., Ltd.
  • SABIC
  • Pregis LLC
  • Avery Dennison Corporation
  • Nitto Denko Corporation

Polymer Foam Market Recent Developments

  • In June 2022, Desktop Metal (NYSE: DM), a global leader in additive manufacturing technologies for mass production, today unveiled FreeFoam™, a new family of photopolymer resins that produces durable and dimensionally accurate closed cell foam parts without tooling – delivering all-new benefits for the automotive, furnishing, footwear, sporting goods, health care and other industries.
  • In June 2022, E3D, a leading supplier of hotends, nozzles and extruders for 3D printing, has announced the acquisition of ZODIAC. Through this deal, E3D has acquired all the assets and IP of the nozzle and aftermarket FDM solutions provider.

Global Polymer Foam Key Market Trends

  • Since continual developments in chemistry and polymer architecture, polyethylene foams are currently utilised more frequently because they can meet sustainability norms. It is expected that the amount of resources that have been removed through drilling, such oil, would steadily decrease. Furthermore, CO2-based polyols may eventually completely replace products made from petroleum because CO2 is more economical than raw materials derived from petroleum. Natural oil-based polymers require more acreage to manufacture than those with a petroleum foundation, but they consume less drilling oil than those with a petroleum foundation. This is a key component in the switch to CO2-based polyols from conventional polyols.

Global Polymer Foam Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Polymer Foam Market Analysis, in terms of type, the polyurethane segment held the largest share and is estimated to maintain a similar trend over the forecast period because of the growing usage of polyurethane in furniture, construction, and transportation These foams are perfect for car seats and a variety of furniture foams since they have low densities, low heat conduction coefficients, and negligible water absorption.

Report Metric Details
Market size value in 2021 USD 123.1 billion
Market size value in 2030 USD 170.1 billion
Growth Rate 3.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polypropylene (PL), Polyvinyl Chloride (PVC), Others
  • Application
    • Furniture, Transportation, Packaging, Building, Construction, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Zotefoams plc
  • BASF SE
  • Dow Chemical Company
  • Huntsman Corporation
  • Recticel NV/SA
  • Sealed Air
  • Armacell International S.A.
  • Synthos S.A.
  • Rogers Corporation
  • Foam Partner Group
  • Borealis AG
  • JSP Corporation
  • The Woodbridge Group
  • UFP Technologies, Inc.
  • Greiner Holding AG
  • Sekisui Chemical Co., Ltd.
  • SABIC
  • Pregis LLC
  • Avery Dennison Corporation
  • Nitto Denko Corporation
Customization scope

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  • Segments by type, application, etc
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Polymer Foam Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Polymer Foam Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Polymer Foam Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polymer Foam Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Polymer Foam Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Polymer Foam Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Polymer Foam Market size was valued at USD 123.1 billion in 2021 and is poised to grow from USD 128 billion in 2022 to USD 170.1 billion by 2030, growing at a CAGR of 3.6% in the forecast period (2023-2030).

The Global Polymer Foam market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Zotefoams plc', 'BASF SE', 'Dow Chemical Company', 'Huntsman Corporation', 'Recticel NV/SA', 'Sealed Air', 'Armacell International S.A.', 'Synthos S.A.', 'Rogers Corporation', 'Foam Partner Group', 'Borealis AG', 'JSP Corporation', 'The Woodbridge Group', 'UFP Technologies, Inc.', 'Greiner Holding AG', 'Sekisui Chemical Co., Ltd.', 'SABIC', 'Pregis LLC', 'Avery Dennison Corporation', 'Nitto Denko Corporation'

The global polymer foam market is driven by the significant growth that the plastic packaging sector has witnessed. The food and beverage sector has a particularly high demand for packaging on a global scale. Food and beverage delivery, catering, and retail all require packaging. As a result, it is necessary to package food and beverages in sachets, containers, pouches, and plastic bags, which serve as the main outlets for polyethylene.

Since continual developments in chemistry and polymer architecture, polyethylene foams are currently utilised more frequently because they can meet sustainability norms. It is expected that the amount of resources that have been removed through drilling, such oil, would steadily decrease. Furthermore, CO2-based polyols may eventually completely replace products made from petroleum because CO2 is more economical than raw materials derived from petroleum. Natural oil-based polymers require more acreage to manufacture than those with a petroleum foundation, but they consume less drilling oil than those with a petroleum foundation. This is a key component in the switch to CO2-based polyols from conventional polyols.

Asia-Pacific is the global polymer foam market leader. The region has the biggest market share, owing to key rising markets like China, India, Malaysia, and Indonesia, as well as developed countries like Taiwan, Japan, and South Korea. This region is home to some of the largest polymer foam producers and users. Followed by China, with the theme of innovation and green development, the polyurethane sector has reached a new stage. Polyurethane downstream product output, including as construction materials, spandex, synthetic leather, and automobiles, currently ranks first in the world. The country is aggressively marketing water-based coatings, enacting new building energy conservation rules, and developing new energy vehicles, all of which provide significant market potential for the polyurethane industry. China's proposed "dual-carbon" target will accelerate the growth of building energy-saving and clean energy industries, as well as provide new development opportunities for polyurethane insulating materials, coatings, composite materials, adhesives, and elastomers.

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Global Polymer Foam Market

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