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Polymer Foam Market Size Worth $153.8 Billion by 2027 | CAGR 3.8%: Grand View Research, Inc.

SAN FRANCISCO, March 30, 2020 /PRNewswire/ -- The global polymer foam marketA size is expected to reach USD 153.8 billionA by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGRA of 3.8%A over the forecast period. Rising demand from automotive and building and construction industries is likely to drive the market. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging, among other applications.Key suggestions from the report:

On the basis of type, polyolefin is estimated to emerge as one of the fastest-growing segments over the forecast period as product penetration has increased over the past few years in the flooring and automotive industries. Companies such as Sekisui Alveo AG, Armacell International S.A., and Borealis AG produce polyolefin foams in rolls and sheets that are environmentally friendly, versatile, and lightweight



Building and construction was the largest application segment in 2019 and accounted for 37.9% of the overall volume



Asia Pacific is estimated to witness the highest growth over the forecast period on account of surging demand from the manufacturing sector in countries like India, China, and Indonesia



Key players operating in the market for polymer foam include BASF SE, Woodbridge Foam Corporation, Borealis AG, Sealed Air Corporation, Zotefoams PL, Armacell International S.A., and Recticel Group.

Read 201 page research report with ToC on "Polymer Foam Market Size, Share & Trends Analysis Report By Type (Polyurethane, Polystyrene, Polyolefin, Melamine, Phenolic, PVC), By Application, By Region, And Segment Forecasts, 2020 - 2027'' at:A https://www.grandviewresearch.com/industry-analysis/polymer-foam-marketRigid types are primarily used as an insulation material in construction and refrigeration applications. They are energy-efficient and help in cutting energy costs. Flexible types are mainly used as a cushioning material in transportation, furniture, bedding, carpet underlay, and packaging, among others.Rising focus on development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. Manufacturing cost of these biodegradable types is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.
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