The Polymer foam market is expected to grow at a CAGR of 5.5% during the forecast upto 2023 owing to the demand from emerging economies and increasing demand from end use industries. The market has many players. The market is dominated by some major key vendors. The market has been analyzed on the basis of type – polyurethane, polystyrene, PVC, phenolic, polyolefin, melamine 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 building & construction segment is leading the market and is expected to grow at CAGR of 4.2% during forecast period. The need for efficiency in packaging is growing every day and leading the polymer foam market demand. Automotive and bedding & furniture are remaining key segments within the polymer foam market which accounted for significant market shares for the polymer foam.
Polyurethane as a type holds the highest market share in polymer foam market. Polystyrene foam is growing at fast pace and its increased usage is expected to drive the polymer foam market further in coming years. Also, the increasing population along with rise in disposable income, especially in developing countries, is leading the consumers to spend more and thus increasing the polymer foam market.
Another major factor helping towards the growth of the polymer foam market is the growing demand for customized furniture and bedding for various reasons. Mattress recommended by the doctor for back pain and other reasons is also increasing and thus, impacting the polymer foam market. Emerging economies like China and India are expected to boost the Asia Pacific market of polymer foam market.
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 polymer foam market. Major companies covered in the study include big multinational players such BASF, Huntsman, Lanxess, DowDuPont and SABIC, which are offering different polymer foams.
– Vasundhara Singh