Polymer Foam Market to Reach USD 157.63 Billion by 2027 |
Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) — The polymer foam market Size is evaluated $114.88 billion in 2019. It is expected to grow to touch 157.63 billion US dollars By 2027, at a compound annual growth rate of 7.73% during the forecast period. The market is booming at an exponential rate due to its excellent properties in the manufacture of flooring products and insulation boards.
List of companies present in the polymer foam market:
- Synthos (Poland)
- Sekisui Alfeo (Switzerland)
- KANEKA CORPORATION (Japan)
- Toray (Japan)
- BASF SE (Germany)
- Airtight (United States)
- Arkema (France)
- Armacell International SA (Germany)
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Polymer Foam Market Report Scope and Segmentation:
|compound annual growth rate forecast||7.73%|
|2027 drop the value||157.63 billion US dollars|
|Polymer foam market size in 2019||114.88 billion US dollars|
|number of pages||135|
|Covered slices||By product type, by age group, by distribution channel, by region|
|Drivers of growth of the polymer foam market||Increasing demand from high-income groups in favor of growth|
|Rising affluent population to promote market expansion|
The growing demand for bedding products Polyurethane spurs slice
On the basis of type, the market is segmented into polyethylene (PE), polyvinyl chloride (PVC), polyurethane (PU), and polystyrene (PS) among others. The polyurethane segment will dominate due to the increasing demand for bedding and viscoelastic foam products for making mattresses.
The rise in residential construction activities increases the demand for building and construction slice
In terms of application, the market is categorized into packaging, furniture and hardware, automotive, building and construction, and apparel. The construction sector will gain momentum due to the increase in residential construction activities to make building designs more sophisticated.
The report provides an insight into the regional analysis covering different regions, which contributes to the growth of the market. The report includes a qualitative and quantitative analysis of several factors, such as the main drivers and constraints that will influence the market. Adoption of strategies by key players to introduce partnerships, collaborations and new products will contribute to the growth of the market.
Drivers and restrictions
Increased levels of tension between students and the working class To stimulate demand for the product
The rise in the number of elderly people in the world has increased the demand for memory foam based bedding products such as pillows and mattresses. Another reason that increased the need for the product was the increasing level of tension among students and working class people to relieve muscle fatigue. Meanwhile, due to its non-biodegradable nature, it can hinder the growth of the polymer foam market.
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Raising awareness of energy security care growth in North America
Asia Pacific has a large share in the polymer foam market and is expected to lead the global market during the forecast period due to increasing disposable income and increasing demand from various applications such as construction and packaging.
Europe projected significant growth across regions during the forecast period due to increasing demand for the product in furniture applications and packaging for better interior design.
The Middle East and Africa region is expected to contribute to the slowdown in growth due to a lack of foam production across the regions to meet domestic demand.
Partnerships between well-known companies to grow their customer base
Leading companies are likely to invest in research and development activities, technological advancement and product launches to expand their geographic presence. With increasing investments in innovation and advanced design, stakeholders can pour money into mergers and acquisitions.
Inquire before purchasing this research report:
- an introduction
- Search range
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Executive summary
- Market dynamics
- Market drivers
- market restrictions
- market opportunities
- the main ideas
- Emerging major trends – for major countries
- Major Developments: Mergers, Acquisitions, Partnerships, etc.
- The latest technological developments
- Insights about the regulatory scenario
- Porter’s Five Forces Analysis
- Qualitative insights on the impact of COVID-19 on the global Polymer Foam market
- Supply chain analysis and challenges
- Steps taken by the government/companies to overcome this impact
- Potential challenges and opportunities due to the COVID-19 outbreak
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March 2019: Sika AG acquires Belineco LLC with the aim of developing and manufacturing polyurethane foam to grow its customer base.
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