Polymer Foam Market worth $114.8 billion by 2025
Polymer Foam Marketis projected to grow from USD 90.7 billion in 2020 to USD 114.8 billion by 2025, at a CAGR of 4.8%. Polymer foam is largely used in the building & construction, packaging, and furniture & bedding.
Browse 119 market data Tables and 41 Figures spread through 203 Pages and in-depth TOC on "Polymer Foam Market”.
The key players operating in the market are BASF SE (Germany), Rogers Corporation (US), The Dow Chemical Company (US), Recticel NV/SA (Belgium), Sealed Air Corporation (US), Huntsman International LLC (US), and Armacell International S.A. (Germany). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement, to grow in the market. Investment & expansion was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies enhance their global presence.
Footwear, sports & recreational is the fastest-growing segment of the overall polymer foam market.
The footwear, sports & recreational segment is projected to be the fastest-growing end-use industry of polymer foam. The properties offered by polymer foams, such as good thermoforming capacity and creep resistance, make it suitable for use in many sporting goods such as skis, hockey sticks, snowboards, surfboards, and racing bicycle wheels. Using polymer foams in sporting goods make the final products lightweight and durable with high mechanical properties
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BASF SE (Germany) is a diversified chemical company. The company has five business segments: Functional Materials & Solutions, Chemicals, Performance Products, Agricultural Solutions, and Others. The company operates through six integrated production sites and 390 other production sites in Europe. It has a strong customer base and operates in many countries in Europe, North America, APAC, Africa, and the Middle East.
In March 2019, BASF enhanced its regional innovation capabilities with new facilities at the Innovation Campus Shanghai to further strengthen collaboration with the automotive industry and to offer new process catalysts to the chemical industry. With an investment of approximately USD 38.0 million, the new 5,000-square-meter facilities include the Automotive Application Center and the Process Catalysis Research & Development (R&D) Center. One of the innovations include polyurethane (PU) integral foam solutions with an open cell structure offering unique performance as they are light-weight, with excellent sound insulation and flame resistance.
The Dow Chemical Company is a diversified, global manufacturer and supplier of products which are used primarily as raw materials in the manufacture of customer products and services. It operates through three business segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings.
The company caters to numerous end-use industries such as appliances, automotive, agricultural, building and construction, chemical processing, electronic, furniture, house ware, oil & gas, packaging, paint, coating and adhesive, personal care, pharmaceutical, processed food, pulp & paper, textile and carpet, utilities, and water treatment.
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