Market Research Report
Technical Foam Market by Form (Flexible, Rigid, Spray), Material (Elastomeric, PU, PE, Expanded Foam), End Use (Electricals & Electronics, Automotive & Transportation, Commercial Buildings, Office Equipment, Medical), Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||937809|
|Published||Content info||165 Pages
Delivery time: 1-2 business days
|Technical Foam Market by Form (Flexible, Rigid, Spray), Material (Elastomeric, PU, PE, Expanded Foam), End Use (Electricals & Electronics, Automotive & Transportation, Commercial Buildings, Office Equipment, Medical), Region - Global Forecast to 2025|
|Published: May 14, 2020||Content info: 165 Pages||
"The technical foam market is projected to grow at a CAGR of 11.6% between 2020 and 2025."
The global technical foam market size is estimated to be USD 9.1 billion in 2020 and is projected to reach USD 15.7 billion by 2025, at a CAGR of 11.6% from 2020 to 2025. Technical foams find wide application in the automotive & transportation sector, which includes automotive, aviation, marine, and other transportation. They also witness demand as acoustic solutions to tackle noise pollution. These factors drive the growth of the technical foam market.
The automotive & transportation segment accounted for the largest share of the technical foam market in 2019. The insulation benefits that technical foam provides in automotive & transportation include heat shields, battery insulation, fire protection, and insulation for data recorders. Fireproofing of the bodywork and interiors is a key part of vehicle safety. High-temperature insulation improves vehicle safety, supports advanced technological vehicle components, and extends the useful lifespan of vehicles on the road, air, and water.
The spray foam segment is expected to witness the highest growth during the forecast period. This growth can be attributed to its ease of manufacturing and convenience of application. Spray foams are widely used in insulation and acoustic applications in the building & construction industry since they act as air barriers, which means they expand quickly and fill up cracks and crevices. They also reduce air leakage through building envelopes, which, in turn, helps in lowering the cooling and heating costs of buildings.
Based on material, the polyurethane segment is estimated to account for the largest share of the technical foam market in 2020. The growth of this segment can be attributed to the increase in demand from the automotive & transportation, commercial buildings, electricals & electronics, office equipment, and medical end uses. The demand in these end uses is due to the low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and insulating properties of PU foam.
The Asia Pacific technical foam market has been studied for China, Japan, India, South Korea, and the Rest of Asia Pacific. This region is a lucrative market for technical foam, owing to demographic changes, improving economic conditions of emerging economies, and increasing industrialization. Major market players such as SEKISUI CHEMICAL CO., LTD. and INOAC Corporation have a presence in Asia Pacific in terms of manufacturing facilities, distribution systems, and sales offices, which generates an adequate supply of technical foam in this region. The players mentioned above are acquiring small-scale companies and technical foam fabricators in the region, which drives market growth. Moreover, technical foam manufacturers in North America and Europe are expanding their business in the Asia Pacific region, and there is a significant knowledge transfer taking place between developed and emerging countries through active engagements in different forums.
Some of the leading manufacturers of technical foam profiled in this report include BASF SE (Germany), Dow Inc. (US), SEKISUI CHEMICAL CO., LTD (Japan), Huntsman Corporation (US), Armacell International S.A. (Germany), LANXESS AG (Germany), Trelleborg AB (Sweden), Recticel NV/SA (Belgium), INOAC Corporation (Japan), UFP Technologies, Inc. (US), Wanhua Chemical Group Co., Ltd. (China), and The Woodbridge Group (US).
This report covers the technical foam market by foam, material, end use, and region. It aims at estimating the size and future growth potential of the market across various segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges in the technical foam market.
The report provides insights on the following:
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, winning imperatives, Threat from Competition, Right to Win)*
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, winning imperatives, Threat from Competition, Right to Win might not be captured in case of unlisted companies.