The report “Polymer Foam Market by Type (PU, PS, PO, PVC, Phenolic, Melamine), End-Use Industry (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports & Recreational), and Region – Global Forecast to 2022″, The market size of polymer foam is projected to grow from USD 94.86 Billion in 2017 to USD 126.08 Billion by 2022, at a CAGR of 5.86% from 2017 to 2022.
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It is driven by the wide use in different end-use industries, namely, building & construction, automotive, furniture & bedding, packaging, and others. The high demand from the automotive sector, especially in gaskets, headliners, cushioning, and cables applications, also drives the market.
The demand for polymer foam in the automotive and packaging industries is high, especially in China, India, and Brazil. New emerging technologies and innovations drive the demand for these foams in these industries. Asia-Pacific is estimated to witness a strong growth in the next five years.
Different types of foams are used in the industries based on requirements. They have distinct properties, which vary according to application requirements. These are classified based on their types, namely, PU, PS, PVC, phenolic, polyolefin, melamine, and others. The others segment constitute silicone and polyvinylidene fluoride (PVDF). Currently, PU foam dominates the polymer foam market based on its demand from various end-use industries such as building & construction, packaging, furniture & bedding, and automotive.
Growing demand for polymer foam in the automotive, building & construction, and packaging industries drive the market. On the other hand, volatility in raw material prices, government regulations, and economic slowdown negatively affect the market.
Some of the leading polymer foam manufacturers, such as Sealed Air (U.S.), Arkema (France), Armacell (Germany), BASF (Germany), Borealis (Austria), Total (France), JSP (Japan), Kaneka (Japan), Recticel (Belgium), Rogers (U.S.), Sekisui Alveo (Switzerland), Synthos (Poland), Woodbridge (Canada), and Zotefoams (U.K.) are adopting these strategies to develop their businesses, globally.
Sealed Air (U.S.) and Armacell (Germany) are the most important players of the polymer foam market. In the past two years, these companies have adopted mergers & acquisitions as their growth strategies.
In September 2017, Sealed Air (U.S.) announced to acquire Fagerdala Singapore Pte Ltd., a manufacturer and fabricator of polyethylene foam to cater to the demand for polyethylene foam. In August 2017, the company also announced to acquire Deltaplam Embalagens Indústria e Comércio Ltda (Deltaplam, Brazil), a family owned and operated Brazilian flexible packaging manufacturer to help their customers primarily in Brazil.
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In January 2017, Armacell acquired the Insulation Business of Nomaco, a leading manufacturer of extruded polyethylene insulation foam products. In October 2016, the company also acquired PoliPex (Brazil), which is a leading Brazilian manufacturer of extruded polyethylene insulation foam. This will help in catering the demand from the Brazilian polymer foam market.
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