“Global Polymer Foam Market to reach a market value of USD 228.8 Billion by 2030 growing at a CAGR of 7.3%”
The Global Polymer Foam Market size is expected to reach $228.8 billion by 2030, rising at a market growth of 7.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 55,371.9 million square meter, experiencing a growth of 6.7% (2019-2022).
Phenolic foam is renowned for its exceptional fire performance characteristics. Thus, the phenolic foam segment acquired $13,112.3 million in 2022. Also, the US market would utilize 1,059.1 million square meter of Phenolic foam by 2030. Phenolic foam is often used in building and construction applications, such as insulation for walls, roofs, and ceilings, where compliance with fire regulations is essential.
Polymer foams, such as expanded polystyrene (EPS) and polyurethane (PU) foam, are widely used as insulation materials in construction and infrastructure projects. Due to their superior thermal insulation qualities, these foams can assist in lowering energy costs and raise the general energy efficiency of industrial, commercial, and residential buildings. In conclusion, growing construction and increasing infrastructure development propel the market’s growth.
Additionally, Continuous material science research and development efforts have created polymer foams with improved qualities like durability, strength, thermal stability, and flexibility. These advancements allow polymer foams to meet various application requirements across various industries, including automotive, construction, packaging, and electronics. In conclusion, advancements in material science and manufacturing technologies are propelling the market’s growth.
However, Polymer foam production heavily relies on raw materials like petrochemicals, resins, and other chemicals. Price fluctuations for these raw materials greatly affect the overall cost of polymer foam production. Therefore, volatility in raw material prices is hampering the market’s growth.
Based on type, the market is divided into polyurethane foam, polystyrene foam, PVC foam, phenolic foam, polyolefin foam, melamine foam, and others. The polyurethane foam segment attained a noteworthy 19% revenue share in the market in 2022. In terms of volume, the polyurethane foam segment would utilize 7,249.9 million square meter of polymer foam by 2030. Polyurethane (PU) foam is employed in medical and healthcare applications for patient positioning, support surfaces, orthopedic devices, and wound care products.
Based on application, the market is categorized into packaging, building & construction, furniture & bedding, automotive, rail, wind, marine, and others. In 2022, the building & construction segment registered 34% revenue share in the market. In terms of volume, the building & construction segment would utilize 32,219.8 million square meter of polymer foam by 2030. Polymer foams are versatile materials that can be molded, shaped, and fabricated into various forms, sizes, and configurations to suit specific building and construction needs.
Free Valuable Insights: Global Polymer Foam Market size to reach USD 228.8 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region witnessed a 40% revenue share in the market. In terms of volume, the Asia Pacific region would utilize 49,872.8 million square meter of polymer foam by 2030.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 131 Billion |
| Market size forecast in 2030 | USD 228.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.3% from 2023 to 2030 |
| Quantitative Data | Volume in million square meter, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 385 |
| Number of Tables | 690 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, End-use, Region |
| Country scope |
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| Companies Included | Arkema S.A., BASF SE, Borealis AG (OMV), Synthos S.A. (FTF Galleon S.A.), DuPont de Nemours, Inc., Trelleborg AB, Zotefoams plc, Sealed Air Corporation, Woodbridge Foam Corporation, Polymer Technologies, Inc. |
By Type (Volume, Million Square Meter, USD Billion, 2019-2030)
By Application (Volume, Million Square Meter, USD Billion, 2019-2030)
By Geography (Volume, Million Square Meter, USD Billion, 2019-2030)
The Market size is projected to reach USD 228.8 billion by 2030.
Growing construction activities and increasing infrastructure development are driving the Market in coming years, however, Volatility in raw material prices restraints the growth of the Market.
Arkema S.A., BASF SE, Borealis AG (OMV), Synthos S.A. (FTF Galleon S.A.), DuPont de Nemours, Inc., Trelleborg AB, Zotefoams plc, Sealed Air Corporation, Woodbridge Foam Corporation, Polymer Technologies, Inc.
In the year 2022, the market attained a volume of 55,371.9 million square meter, experiencing a growth of 6.7% (2019-2022).
The Polystyrene Foam segment is leading the Market by Type in 2022; there by, achieving a market value of $70.6 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $92.7 billion by 2030.
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