Foam Plastics - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Foam Plastics Market is accounted for $49.88 billion in 2019 and is expected to reach $84.44 billion by 2027 growing at a CAGR of 6.8% during the forecast period. Energy sustainability and energy preservation and growth of major end-use industries are the major factors propelling the market growth. However, instability in raw material prices is hampering the market growth.
Foam Plastics is a type of light cellular plastic made by creating bubbles of gas in the liquid material and solidifying it. These resins used in manufacturing polymer foams, which are used in different end-use industries such as furniture & bedding, building & construction, packaging, and automotive among others.
Based on the type, the polyurethane segment is likely to have a huge demand in the forecast period. The PU resin based forms has excellent properties such as extensive range of rigidity, stiffness, and thickness levels. Low-density flexible foams are used in blanket, automotive and truck seating, and novel inorganic plant substrates for roof or wall gardens. These are also used in thermal insulation and RTM cores.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the low cost of production and the capability to serve the local emerging market better. This region encompasses countries with different levels of economic development. The market growth in this region is mainly attributed to its high economic growth rate and heavy investments across industries, such as building & construction, furniture & bedding, automotive, and sports & recreational.
Some of the key players profiled in the Foam Plastics Market include BASF SE, Covestro, Huntsman International Llc, Lanxess, LG Chem, The Dow Chemical Company, Wanhua Chemical Group Co., Ltd., Hexion Inc., Sabic, Shell International B.V., Alchemie Ltd., Cangzhou Dahua Group Co. Ltd., China Petrochemical Corporation (Sinopec Group), Kumho Mitsui Chemicals Corp. and Kuwait Polyurethane Industries W.L.L.
• Other Types
End Users Covered:
• Building & Construction
• Footwear, Sports & Recreational
• Furniture & Bedding
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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