PUBLISHER: Allied Market Research | PRODUCT CODE: 1179810
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179810
The polyolefin foam market attained $8.2 billion in 2021 and is projected to reach $13.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Polyolefin is a type of polymer formed by the polymerization of a simple olefin. Polyolefin foams are versatile, lightweight, and environmentally benign. The items are available in both roll and sheet formats. Various industries, including building & construction, automotive, packaging, and furniture & bedding utilize polyolefin foam. The vast range of polyolefin foam applications drives the global market for these foams. Polyolefin foams provide compression set, chemical and abrasion resistance, flexibility, electrical and thermal insulation, and cushioning toughness. Its resilience provides good energy absorption, which is necessary for the majority of athletic pads, floating devices, cushion packaging, and occupant safety applications.
The market will likely be driven by rising demand from the building and construction and automotive industries. Polymer foams are commonly used in automotive components, rigid insulation panels, and carpet underlays, in conjunction with other materials in composite constructions, upholstery stuffing, and packaging, high-resilience foam seating, and other applications. Rigid polymer foams are primarily employed as insulation material in construction and refrigeration applications. They are energy-efficient and contribute to a reduction in energy expenditures. The majority of flexible materials are utilized as cushioning in furniture, transportation, packaging, bedding, carpet underlay, and other applications.
The increased emphasis on the production of biodegradable foams as a result of global environmental legislation has created new market prospects for manufacturers. These biodegradable varieties are nonetheless more expensive to produce than petroleum-based compounds. Therefore, it will take several years for manufacturers to embrace this variant entirely. However, rigorous laws and rising worries about the environmental impact of small plastic beads will impede the growth pace of the polyolefin foam industry. In addition, increased awareness of the harmful impacts of plastic on the environment is projected to impede the expansion of the polyolefin foam industry. The severe impact of COVID-19 on the supply chain and fluctuating raw material costs are projected to act as market restraints and further inhibit the growth rate of the polyolefin foam market. In addition, increased research and development efforts are anticipated to generate favorable possibilities for the market expansion of polyolefin foam. In addition, technological advancement, innovations, and possible opportunities in emerging markets are anticipated to create profitable growth opportunities for the market.
The global polyolefin foam market is segmented into resin type, end-use industry, and region. Depending on resin type, the market is divided into polypropylene, polyethylene, and ethylene-vinyl acetate. On basis of the end-use industry, it is categorized into automotive, packaging, construction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global polyolefin foam market are Arkema, Armacell, BASF SE, Dow Inc, DuPont, Hanwha solutions, Huzhou Changyuan Tefa Co., Ltd., Intecfoams, Kaneka Corporation, NMC International SA, SABIC, Sekisui Chemicals Co, Toray Industries, Inc, TotalEnergies, Ultralon. Other players operating in the market are Zotefoams Plc, Furukawa Electric Co., Ltd, Ds Smith Plc, Sonoco Products Company, Recticel NV, Borealis AG, Trocellen GmbH, and JSP Corporation.
IMPACT OF COVID-19 ON THE GLOBAL POLYOLEFIN FOAM MARKET
Key Benefits For Stakeholders
By Resin Type
By End Use Industry
By Region