Global Polymeric Foams Industry

Global Polymeric Foams Industry

  • April 2021 •
  • 628 pages •
  • Report ID: 1374684 •
  • Format: PDF
Abstract:
- Business Fundamentals Collapse in all key End-Use Sectors. Polymeric Foams Slumps to $85.1 Bn in 2020
- The global market for Polymeric Foams is expected to witness erosion in market value by -15.8% to US$85.1 billion in the year 2020. Thereafter, the market is expected to recover and reach a revised size of US$121 billion trailing a CAGR of 5.2% over the analysis period 2020 to 2027.Polymer foams are widely used in end-use sectors such as building & construction, automotive, packaging, furniture & bedding, rail infrastructure, marine infrastructure and others. With the COVID-19 pandemic causing considerable decline in construction projects activity around the world, market for polymeric foams is being negatively impacted. Key end use markets for polymeric foams namely building & construction, automotive, electronics, packaging and furniture & bedding, among others, are a function of several macro-economic factors such as economic growth, consumer confidence, credit availability, fuel prices and investments. Automotive industry faces an uncertain future amid the global recession & estimated -3% erosion in global GDP growth. Pessimism surrounds aviation industry’s return to pre-coronavirus growth despite reopening of economies. Surging unemployment rates, reduction in disposable incomes & low consumer confidence will induce short-term declines in revenues & margins of electronics manufacturers. Labor migration, capital constraints & disruptions in construction material supply chain continue to disruption operations in the construction industry. Global home furnishings market falls victim to plummeting consumer confidence and cut backs on discretionary spending. The scenario is creating an uncomfortable short-term business climate for Polymeric foams.
- Polymeric foams refer to material manufactured through mixing of solid and gas phase, which leads to the formation of foam. The rapid combination of the two phases - solid and gas leads to the creation of foam, which possesses a polymer matrix with either air tunnels or air bubbles. Polymer foams can be manufactured using several methods such as slab-stock by pouring, molding, and extrusion. Polymeric foams can be formed with open cell structure or close cell structure. While open-cell foams are known to be flexible, closed cell foams exhibit rigid characteristics. The emergence of innovative technologies and applications, in the post covid-19 period, is expected to stimulate demand for polymer foams in various end-use industries. To tap the emerging opportunities, manufacturers are investing in R&D activities to develop foams with better adaptability to various applications. Growing emphasis on sustainability is also expected to drive up demand for green building materials such as eco-friendly polymeric foams. Sustained demand for polymer foams, especially in applications such as packaging and construction, is due primarily to the material’s effectiveness, whereby there is little threat of the material being substituted with alternative products.
- There are also niche opportunities for suppliers of polymer foams. For example, biodegradable polymer foam development, which is likely to witness, extended applications across many end-use industries. Growing demand for biodegradable foams is a major opportunity for polymer foam suppliers. Biodegradable foams are witnessing increased number of takers in countries across the world owing to environmental regulations governing various end-use industries becoming increasingly stringent. However, when compared to petroleum-based derivatives derived polymer foams, the biodegradable varieties types are expensive. Bio-based polyols are witnessing strong increase in demand from polymer foam manufacturers, which is another major market trend. With oil price volatilities leading to major reductions in foam industry profitability, players have since then focused on developing bio-based polyols. Bio-derived materials like soy-based polyols also feature better attributes compared to traditional polyols. They are more sustainable and less costly compared to conventional polyols. Bio-based polyols also display lesser sensitivity to hydrolysis and are more stable thermally, than traditional polyols.

- Select Competitors (Total 161 Featured) -
  • Abriso-Jiffy NV
  • Achilles Corporation
  • American Excelsior Company
  • Armacell International SA
  • BASF SE
  • Boyd Corporation
  • Carpenter Company
  • Covestro AG
  • Dow, Inc.
  • Eurofoam GmbH
  • Foampartner, Inc.
  • FXI
  • Huntsman International LLC
  • JSP Corporation
  • Kaneka corporation
  • Polymer Technologies, Inc.
  • Recticel
  • Rogers Corporation
  • SABIC
  • Sealed Air Corporation
  • Sekisui Alveo AG
  • SIMONA AMERICA Industries
  • Sonoco Products Company
  • Synthos S.A.
  • Tekni-Plex, Inc.
  • The Woodbridge Group®
  • Toray Industries, Inc
  • Trelleborg AB (Sweden)
  • Vita Cellular Foams (UK) Limited
  • Zotefoams PLC