The Global High Density Polymer Foam market is expected to witness a CAGR of 5.5% to reach revenue of $74.02 billion by 2023
Bangalore, India, January 18, 2019: With its recently published study “High Density Polymer Foam Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for High Density Polymer Foam will continue to grow due to the growing disposable income among developing countries, increasing awareness about the environment, and changing packaging aesthetics. The global High Density Polymer Foam market is projected to grow at a CAGR of 5.5% during the forecast period to reach a value of $74.02 billion by 2023.
High Density Polymer Foam is widely being used owing to its efficiency in various applications. Polymer foams are soft and flexible, which make them apt to be utilized in furniture and bedding; and they are also used as insulators owing to their property of very low heat transfer.
Among the end-users, building and construction is dominating the High Density Polymer Foam market. The next major end-user segment contributing toward the market growth is the “others” segment that includes automotive, packaging, and furniture and bedding. The packaging segment is expected to proliferate with a high CAGR. Overall, with the growth of these end-user industries, the demand for High Density Polymer Foam will also increase.
In terms of the analysis of major types, polyurethane is contributing heavily toward the market growth. The polyurethane segment is expected to grow at a CAGR of 5.8% during the forecast period. The major trend impacting the market positively is the increasing demand from end-use sectors. Specifically, the increased demand for packaging and automotive in various geographies is accelerating the global High Density Polymer Foam market.
“Technological advancement owing to innovation is helping to come up with better closed cell foams with various new characteristics. For example, the foam utilized in furniture and bedding is now customized as per the customer demand, i.e., they can choose the foam to be either soft, flexible, or rigid. This trend, in the coming years, will enhance the global High Density Polymer Foam market.” – Vasundhara Singh, Research Associate, Infoholic Research
Key Insights of the Report Include:
- Major Types
- Key End-users
- Building and Construction
- Furniture and Bedding
- Industry outlook
- Market trends,
- Restraints, and
Ms. Sunanda Ganguli
Infoholic Research LLP