Polymer Foam Market Size Analysis, Trends, Top Manufacturers, Share, Growth, Statistics
The global polymer foam market size is likely to rise remarkably in the forecast period on account of increasing demand for polymer foams from the building and construction sector. Fortune Business Insights provides a detailed analysis of the market in their report titled, “Polymer Foam Market Size, Share & Industry Analysis, By Type (Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), By Application (Automotive, Building & Construction, Packaging, Furniture, Appliances, Apparel and Others), and Regional Forecast, 2019-2026”. According to the report, the polymer foam market is anticipated to reach USD 154.08 billion by 2026 from USD 110.85 billion in 2018 with a CAGR of 4.28%, within the forecast period of 2019 to 2026.
The report offers a comprehensive analysis of the polymer foam market, chiefly focusing on crucial aspects such as growth drivers, restraints, trends, and opportunities. It also throws light on the current industry insights and key developments of the market. Besides this, the report lists the names of significant players in the market and major strategies adopted by them in order to stay ahead of the competition. Detailed segmentation of the market is also provided in the report including the regional segmentation. All information presented in the report is gathered from primary and secondary research methods. The report is available for sale on the company’s website.
As per the current polymer foam market trends, the market is segmented on the basis of type, application, and geography. In terms of application, the building and construction segment will lead with 49.10% share. This is attributable to the durable, versatile, and lightweight features of polymer foam.
Asia Pacific to Lead Owing to Presence of Major Market Vendors
Geographically, the market is dominated by Asia Pacific and likely to remain the same in the forecast duration as well. This is attributable to the increasing demand from the building and construction application and packaging industries in the region. The rise in population, coupled with the increase in disposable income and change in lifestyle of people has led to a surge in construction activities in the region. An increase in the number of building activities in the developing nations of Asia Pacific such as India and China are boosting the regional market. China, India, and Japan are the key nations contributing major shares to the market globally.
Besides this, the rise in demand from the interior designing sector is likely to help Europe generate remarkable polymer foam market revenue in the forecast period.
Fragmented Nature of Market to Propel Players to Set New Trajectories
The competitive landscape of the polymer foam market is fragmented in nature owing to the presence of both international as well as local players. Most of the key players have their base in Asia Pacific, thus making this region dominate the market. Some of the key industry 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 industry called Sika AG acquired a Belarus based manufacturer of polyurethane foam systems called Belineco LLC IN March 2019. This acquisition is anticipated to provide 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 components and protective packaging solutions called Huntington Solutions, LLC. The main focus behind this acquisition was to broaden the production capabilities of Texas Foam.
Source: https://www.fortunebusinessinsights.com/industry-reports/polymer-foam-market-101698