Polymer Foam Market Present Scenario and Growth Prospects with Forecast until 2023
Global Polymer Foam Market: Overview
In the last few years, polymer foams are being used widely in diverse applications. Some of the key applications are bedding, automotive, furniture, and insulation. The growing awareness among consumers regarding the benefits of using polymer foam is expected to supplement the growth of the market in the coming years. As per the research study, the demand for polymer foam is anticipated to increase significantly, owing to which the market is likely to register a healthy growth rate in the coming years.
The research study offers a detailed analysis of the global polymer foam market and throws light on the competitive scenario of the market. The key segmentation, product portfolio, leading geographical regions and the driving factors have been included in the research study. Moreover, the limitations and challenges that are being faced by the prominent players have been highlighted to offer a strong understanding of the global market.
Global Polymer Foam Market: Drivers and Restraints
The growing demand for polymer foam and the energy sustainability and energy conservation are the major factors that are projected to encourage the growth of the market in the coming years. Moreover, the packaging, automotive, and furniture and bedding applications are predicted to boost the demand for polymer foam across the globe. The rising demand for carbon dioxide-based polyols and the emergence of bio-based polyols are likely to offer lucrative opportunities for prominent players in the market.
On the flip side, the volatility in cost of raw materials and the high pricing pressure are some of the factors that are expected to curb the development of the global polymer foam market in the near future. Additionally, stringent regulatory approvals that are essential for the production of polymer foam are anticipated to act as a major challenge for the global market throughout the forecast period.
Global Polymer Foam Market: Region-wise Outlook
From a geographical standpoint, Asia Pacific is projected to lead the global polymer foam market and is likely to account for a key share in the forecast period. The high growth of this region can be attributed to the substantial rise in the industrial and construction activities. In addition, the robust pace of urbanization and the increasing infrastructure developments are some of the other factors projected to drive the demand for polymer foam in Asia Pacific market. A significant contribution from India, China, and Indonesia is likely to accelerate the market’s growth in the near future.
Furthermore, Europe and North America are anticipated to witness progressive growth in the next few years. The increasing number of applications of polymer foam in diverse industries is predicted to augment Europe and North America market in the coming years. The research study has provided the expected market share and growth rate of each segment, along with the key factors that are projected to fuel the growth of the market.
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Key Players Mentioned in the Research Report are:
The global market for polymer foam is extremely competitive in nature with a large number of small and large players operating in it. The growing focus of leading players on the expansion of application base is expected to accelerate the growth of the overall market throughout the forecast period. Additionally, innovations and technological developments are likely to offer promising growth opportunities for market players. Some of the leading players operating in the polymer foam market across the globe are DuPont, Huntsman, INEOS Group, Covestro, Stepan Company, Zotefoams plc, Dow Chemical, Recticel S.A., and BASF SE.
Furthermore, to offer a strong understanding of the global polymer foam market, the research study has highlighted the company profiles, financial status, recent developments, and SWOT analysis of the leading players in the market. Moreover, the business policies and strategies that are being adopted by the leading players have been provided in the scope of the study.