DUBLIN--(BUSINESS WIRE )--The "Polymeric Foams: Global Markets" report has been added to ResearchAndMarkets.com's offering.
This report covers the global market for polymeric foams and analyzes global market trends, with the base year as 2021 and estimated compound annual growth rates (CAGR) for 2022 and 2027.
As it adapts to new legislation and shifting consumer tastes, the foam industry is undergoing unprecedented change and growth. Increased emphasis on environmental sustainability and energy conservation are among the factors driving growth.
Rising demand from the world's automotive and packaging industries is being driven by increased construction spending in emerging markets such as Brazil, China, India, Mexico and South Africa.
With volatile raw material prices and a growing public awareness of environmental concerns, growth in the foam market is expected to be somewhat restrained in the coming years. As a result, some industry players are focusing on the development of bio-based foams. Such foams have been around for a while.
However, in an era of "greener" products and processes, their popularity is growing. Today, bio-based foams are used in commercial and residential furniture, such as mattresses. Bio-derived natural materials have the potential to be used in the production of "greener" polyurethane foams.
Companies all over the world are adjusting to this shift. The combination of bio and petrochemicals presents both challenges and opportunities. The combination has resulted in a new chemistry. The majority of the new crossover systems push the limits of existing petrochemical-based foams. These new foams are simpler to work with and are more easily made flame-resistant and adapt more easily to new techniques that reduce chemical emissions in automobiles and buildings.
Asia-Pacific is the leader in the market, by region. Not surprising, given its sizable and growing population representing a diverse market of end users and end-user industries. The Asia-Pacific region is also a promising market for high-heat foams, which are commonly used in sports and leisure applications.
Demand from developing countries such as Brazil and India has contributed to the rapid growth of high-heat foam. as well as rising demand from industries such as automotive and aerospace, where it is widely used as insulation and carpet underlay, among other things.
Building and construction, packaging and Furniture/furnishings account for the highest market share in 2021. This growth is based on various key factors such as technological advancements, innovation and the availability of wide-ranging polyurethane products for automotive, furniture, electronics, biomedical, footwear and construction applications.
Further, product launches, expansions, partnerships and agreements will boost growth in the coming years. Other key factors contributing to the growth of the foams market include favourable government regulations, growing demand from emerging countries and huge economic growth in major end-user industries such as healthcare, construction, etc.
In terms of resin type, polyurethane accounted for the highest share in the global polymeric foams market in 2021. Polyurethane is a versatile material that can be converted into various forms such as thermosetting plastics, thermoplastics and synthetic rubber (elastomers). These are made from monomer units of urethane (carbamate). Polyurethanes are typically produced by the reaction of polyol and poly-isocyanates.
Commercially, methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI) is used for the production of polyurethanes. This material has a wide range of applications such as flexible foam, rigid foam, coating, adhesive, sealant, elastomer, etc. Polyurethanes are used by various end-user industries such as automotive, building and construction, footwear, furniture and bedding, and electronics. Polyurethanes are also essential in building materials.
Sales values are presented in U.S. dollars. Estimated values used are based on manufacturers' total revenues. The study also discusses market dynamics such as drivers, restraints, opportunities and challenges. It further examines new and emerging trends and their impact on current and future market dynamics.
Chapter 4 Polymer Foams Market by Resin Family
Chapter 5 Market Breakdown by Application
Chapter 7 Industry Structure and Competitive Analysis
Chapter 8 Environmental, Regulatory and Public Policy Issues
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900