Foam Market by Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, and Others), End User (Building & Construction; Packaging; Automotive; Furniture & Bedding; Footwear, Sports, & Recreational; and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026738 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 96 billion mark in 2022 and is expected to hit US$ 137 billion by 2030, recording a CAGR of 4.5% during the forecast period.

Increasing demand from the construction industry. 

The construction industry in the US, China, and India is growing tremendously with rapid industrialization. The high rate of construction activities creates an enormous demand for various construction materials. In North America, the construction industry is one of the significant contributors to the region's economy. According to the Associated General Contractors of America (AGC), the US construction industry creates $1.4 trillion worth of structures each year. Foam is used in the building & construction industry for forging, pipe-in-pipe, doors, roof board, and slabs. It is also used for insulation of walls or roofs in residential and commercial buildings. Rising residential and commercial construction activities and increasing infrastructural development encourage the utilization of foam. The growing demand of construction industry due to increasing population and rapidly growing commercial sector across the globe are driving the foam market.

Within the report, the market is segmented into type, end user, and geography. By type, the market is further segmented into polyurethane, polystyrene, polyolefin, phenolic, pet, and others. Based on end user, the market is further segmented into building & construction; packaging; automotive; furniture & bedding; footwear, sports, & recreational; and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Expansion of end-use industries.

The global market for foam is undergoing strong growth due to the rising demand from automotive, packaging, building & construction, sports, etc. The expansion of these industries due to rising industrialization and urbanization is expected to drive the market over the next few years. The demand for foam is also high in the automotive industry. The automotive foams improve vehicle safety, structural strength, acoustics as well as the comfort properties of the automobiles. Polyurethane foams are used to reduce noise vibration and harshness. Automotive foams are mostly made up of polyurethane and polyolefin materials. This, in turn, is driving the foam market.

APAC is the largest foam market in the forecast period.

The foam market in APAC is segmented into China, India, Japan, South Korea, and the Rest of APAC. The region is dominating as well as the fastest growing in the foam market, driven by high economic growth and huge investments in the packaging, automotive, building & construction, and other manufacturing industries. The growth of the region is propelled by the increasing use of foam in the building & construction, automotive, footwear, furniture, and packaging industries. The demand for high-quality products, rising population, and the growing end-use industries have led to innovation and development in the market. The continuous growth in the manufacturing sector drives the demand for foam in the region.

Recent strategic developments in foam market

The foam market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2022, Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, announced its intention to acquire Austroflex Rohr-Isoliersysteme GmbH.
  • In February 2020, Huntsman Corporation announced that it had completed the acquisition of Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications.

The foam market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Armacell International S.A., JSP, Kaneka Corporation, and Recticel are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Foam related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of foam industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Polyurethane
    • Polystyrene
    • Polyolefin
    • Phenolic
    • PET,
    • Others
  • End Users:
    • Building & Construction
    • Packaging
    • Automotive
    • Furniture & Bedding
    • Footwear, Sports, & Recreational
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • BASF SE
    • Armacell International S.A.
    • JSP
    • Kaneka Corporation
    • Recticel

The List of Companies
- BASF SE
- Armacell International S.A.
- JSP
- Kaneka Corporation
- Recticel

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