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Polymer Foam Market- Emerging Trends, Leading Global Players Insight and Forecast upto 2023
Polymer Foam Market is dominated by Asia Pacific region due to developing crude oil processing and expanding petroleum refineries in India and China
Applications of polymeric foams depend on the nature of polymer and their types. The main applications of flexible foams are for cushioning, packaging, automotive safety, footwear, etc. The rigid foams are used for insulation in building, transportation; heating, ventilation, and air conditioning (HVAC), and packaging. The reason polymer foams are so widely used is that they have a lot of advantageous properties. The density is low, and so the weight reduction as compared to other options is significant. Some polymer foams have very low heat transfer, making them optimal insulators. Many are flexible and soft, and they provide more comfort when used for furniture and bedding.
Some of the prominent factors that positively influence the growth of polymer foams market are increasing crude oil production, rising demand for insulation materials in construction industry, and rising demand for sports outfits owing to increasing urbanization coupled with rising disposable incomes. High adoption rate along with the increasing number of power plants to meet the energy for the ever-growing population. Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards luxury vehicles using polymer based cushioning materials is estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals permeating the ecospheres by continuous manufacturing, disposing and recycling activities.
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Top Global Key Players:
Some of the prominent players operating in the Global Polymer Foam Market are, BASF SE (Germany), TORAY INDUSTRIES, INC. (Japan), The Dow Chemical Company (U.S.), Recticel NV (Belgium), Rogers Corporation (U.S.), Arkema S.A. (France), Total S.A. (U.S.), SABIC (Saudi Arabia), Synthos S.A. (Poland), and Zotefoams plc (U.K) among others.
The Global Polymer Foam Market is categorized on the basis of type, product type, end user industry, and region. On the basis of type, the market is bifurcated into flexible and rigid. On the basis of product type, the market is segmented into polyurethane (PU), polystyrene (PS), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC) and others. On the basis of end user industry, the polymer foam market is categorized into construction, transportation, furniture, packaging, textiles, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The Global Polymer Foam Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Among these, Asia Pacific is estimated to be the largest polymer foams market followed by North America and Europe due to strong existence of crude oil reserves which bridges the raw material demand gap. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for polymer foams in automobile manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for polymer foams, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of construction sector is predicted to contribute to the regional market growth. In North America, the U.S is a major contributor in the regional market growth due to expansion of offshore and onshore activities as well as increasing product innovations. In Latin America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.
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