High Density Polymer Foam Market Revenue Is Expected To Rise Further to $74.02 Billion By 2023
The Global High Density Polymer Foam Market is expected to grow at a CAGR of 5.5% during the forecast period to 2023 owing to the demand from emerging economies and increasing demand from end-use industries. The market has many players, but is dominated by a few major key vendors. The market has been analyzed on the basis of type – polyurethane, polystyrene, PVC, phenolic, polyolefin, and others. The report has also been categorized on the basis of end-users – construction and building, packaging, automotive, furniture and bedding, and others.
The construction and building segment is leading the market and is expected to grow with a CAGR of around 5.4% during the forecast period. The improving aesthetics of packaging and growing automotive industry are fostering the High Density Polymer Foam Market growth. The polymer foam is primarily being utilized in packaging as it keeps the product safe.
Polyurethane, as a type, holds the highest market share. Polystyrene foam is growing at a fast pace, and its increased usage is expected to drive the High Density Polymer Foam Market further in the coming years. Also, the increasing population along with the rise in disposable income is leading the consumers to spend more and thus enhancing the high-density polymer foam market.
Another major factor assisting the growth of the High Density Polymer Foam Market is the growing demand owing to its characteristics of providing excellent efficiency in requisite areas such as insulation, mechanical support, packaging, and damage protection amongst others. These trends are positively impacting the high-density polymer foam market. Emerging economies, such as China and India, are expected to boost the High Density Polymer Foam Market in the Asia Pacific region.
The study conducted by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each product and each type along with forecasting and trends analysis in the global high-density polymer foam market. Major companies covered in the study include big multinational players such as BASF, Huntsman, LANXESS, Neelikon, and SABIC that are offering different high-density polymer foams.
- Vasundhara Singh,