The new report by Expert Market Research titled, ‘Global Foam Plastics Market Report and Forecast 2022-2027’, gives an in-depth analysis of the foam plastics market, assessing the market based on its segments like type, applications, and major regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analyzing the market based on the SWOT and Porter’s Five Forces models.
Foam Plastics Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 109.1 Billion
• Forecast CAGR (2022-2027): 3.40%
• Forecast Market Size (2027): USD 133.3 Billion
|Market Size in 2021||USD 109.1 Billion|
|Revenue Forecast in 2027||USD 133.3 Billion|
|Growth Rate CAGR||3.40%|
|Major Players||Alchemie Ltd.Covestro AGHexion IncHuntsman CorporationBASF SEOthers|
The foam plastics market is booming as a result of end-user industries that are expanding quickly. This can be ascribed to growing economies in developing countries like Africa and African music history. and important end-use industries including packaging, automotive, building and construction, and furniture and bedding, among others. Foam plastics are in high demand in the packaging business as manufacturers and retailers work harder to make packaging solutions safer and more cost-effective. It is also recyclable and can be burned for disposal; the byproducts of this process are used as a fuel source for waste-to-energy programs in municipalities, causing the industry to grow.
Foam Plastics Industry Definition and Major Segments
Polymers are used to make foam plastics, also known as cellular polymers, or expanded plastics. For the production of foam plastics, a synthetic resin is transformed into a sponge-like mass with a closed-cell or open-cell structure that can be flexible or rigid. Closed-cell foam plastics are created by incorporating a blowing agent that decays at the fusion point of the plastic, releasing gas bubbles that are entrapped throughout the gelling process. Meanwhile, open-cell foam plastics are created by incorporating an inert gas into the resin under pressure, then removing the mixture from the atmosphere and curing the resulting foam.
Base on type, the foam plastics market can be segmente into:
• The Polyurethane
• carbolic acid
On the basis of applications, the market is segmente into:
• Building and Construction
• Furniture and Bedding
• footwear, Sports, and Recreational
Base on region, the foam plastics market can be segmented into:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
Foam Plastics Market Trends
Due to the growing demand for the polymer across a range of end-use sectors, the Asia Pacific area is one of the important markets for foam plastics. Rapid industrialization and rising investments in important industries, including packaging, automotive, building, construction, furniture, and bedding, among others, are responsible for the region’s rise.
The demand for foam plastics is rising dramatically in the region’s emerging economies as a result of the fast urbanization and ensuing infrastructure development. Additionally, the demand for foam plastics is likely to rise in response to the increase in building and infrastructure development activities by governments and private businesses, which is anticipate to support the industry’s overall expansion.
The demand for foam plastics is skyrocketing as the automotive industry is expanding rapidly as share point increase productivity. Because of their cushioning properties, foam plastics such as polyurethane are widely use in passenger car armrests, seats, and headrests, propelling the market growth. Foam plastics are increasingly being use to improve the cost-effectiveness and fuel efficiency of automobiles due to their lightweight and durability. Furthermore, rising demand for vehicles with enhanced features such as shock absorption is driving up demand for innovative foam plastics, which is expected to drive market growth.
Key Market Players
The major players in the global foam plastics market report are:
The major players in the market are Alchemie Ltd., Covestro AG, Hexion Inc, Huntsman Corporation, BASF SE, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of those market players.