Scienza e Tecnologia
Polymer Foam Market worth $142.02 billion by 2030 - Exclusive Report by MarketsandMarkets™
By end-use industry, the building & construction segment is estimated to have the largest market share by value. Due to the rising need for energy-efficient and environmentally friendly construction materials, the building and construction industry will continue dominating the polymer foams market. Various polymer foams including, but not limited to, polyurethane (PU) and polystyrene (PS), find applications in thermal and acoustical insulation as well as structural infill systems within walls, roofs, and flooring, thereby contributing to the building's energy performance. In addition to these factors, concerns about green building practices and energy efficiency and associated government policies encouraging low-energy buildings have increased the use of polymer foams in the scope of both residential and commercial construction. Moreover, polymer foams have the advantage of being light in weight, hence less conducive to higher construction costs and enhancing the ability of the buildings to withstand better.
Based on resin type, the polyurethane segment is estimated to account for the largest share of the market during the forecast period. This unique market share can be attributed to polyurethane's versatility and a vast range of applications in major sectors, including automotive, construction, packaging, and bedding and furniture sectors. Both rigid and flexible polyurethane foams are often chosen due to characteristics like durability and lightweight nature. Polyurethane is used for soundproofing, energy absorption, and thermal insulation applications in the building and construction industry. It is also found in the automotive sector and in sealing and cushioning functions. Thus, polyurethane's ability to meet a wide range of functional requirements is one of the primary reasons for its dominance in the polymer foam market.
Asia Pacific is estimated to lead the market during the forecast period. The Asia-Pacific region is expected to have the largest market share in the polymer foam market due to numerous factors. The rapid urbanization and industrialization of countries and areas in the Asia Pacific have led to a substantial increase in demand for polymer foams in construction industries, automotive, and packaging, especially in developing countries such as China , India , and Southeast Asian countries. The increasing construction activities in these regions utilize polymer foams in residential and commercial buildings for insulation, soundproofing, and structural uses. Also boosting the product demand is the region's growing automotive manufacturing sector, which is on the rise due to lightweight materials, such as polyurethane and polystyrene foams, which help improve the efficiency of motor vehicles. Due to the expansion of the e-commerce and retail industries in the Asia Pacific region, there has also been an increasing requirement for polymer foams used in packaging. In addition, the growth of this market is facilitated by the presence of cheap raw materials and labor and the growing commitment towards investments in eco-friendly foam technologies.
Some of the leading players in this market include ARMACELL ( Luxembourg ), Sheela Foam Limited ( India ), Kingspan Insulation, LLC ( Ireland ), Owens Corning (US), and Zotefoams plc (UK).
MarketsandMarkets™ has been recognized as one of , as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .
MarketsandMarkets™ INC.
1615 South Congress Ave
Suite 103, Delray Beach, FL 33445
USA : +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/foams-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/polymer-foam.asp
View original content: https://www.prnewswire.co.uk/news-releases/polymer-foam-market-worth-142-02-billion-by-2030--exclusive-report-by-marketsandmarkets-302277562.html