Polymer Foam Market Size, Trends, Share, Growth | Report 2022-2030
The global polymer foam market was valued at USD 123.2 billion in 2021 and it is predicted to surpass around USD 170.3 billion by 2030 with a CAGR of 3.66% from 2022 to 2030.
Report Highlights
Rising demand from the automotive and building and construction industries is likely to drive the market. Polymer foams are widely utilized in combination with other materials in various composite constructions, high-resilience foam seating, rigid insulation panels, automotive components, carpet underlays, upholstery stuffing, and packaging, among other applications.
Rigid types are primarily used as insulation material in construction and refrigeration applications. They are energy-efficient and help in cutting energy costs. Flexible types are mainly used as cushioning material in transportation, furniture, bedding, carpet underlay, and packaging, among others.
The rising focus on the development of biodegradable foams owing to stringent environmental regulations across the globe has opened new market opportunities for manufacturers. The manufacturing cost of these biodegradable types is still higher than petroleum-based chemicals. Therefore, it will take a couple of years for manufacturers to completely adopt this variant.
On the basis of type, polystyrene foam was the largest segment in 2021 and accounted for more than 30.0% share of the global revenue. Expanded polystyrene-based products have excellent shock absorbing properties and are preferred in storing, packaging, and transporting electrical equipment, cooked food, and perishable goods. They are also preferred in various marine floatation applications, including the construction of floating docks, surfboards, and boat stands.
Polyolefin foams including polypropylene and polyethylene are expected to witness significant expansion in the forthcoming years. Traditionally, the low melt strength of these products, particularly polypropylene, limited the growth of this segment in the global market. Several technologies including post-reactor radiation and compounding modifiers method have been introduced by various polyolefin manufacturers, such as Borealis and LyondellBasell Industries Holdings B.V. The aim is to improve the strength of polyolefins to meet the requirements of wind energy applications, including spar webs and shell panels, and marine applications like vibration control and cushion seats.
Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the burgeoning growth in the construction, automotive, and wind energy industries in China and India. The growth of the automotive and building and construction industries in Europe is expected to drive the demand for polymer foam over the forecast period.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 123.2 billion |
| Revenue Forecast by 2030 | USD 170.3 billion |
| Growth rate from 2022 to 2030 | CAGR of 3.66% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Type, application, region |
| Companies Covered | Arkema Group; Armacell International S.A; BASF SE; Borealis AG; Fritz Nauer AG; Koepp Schaum GmbH; JSP Corporation; Polymer Technologies; Inc.; Recticel NV; Rogers Corporation; SEKISUI ALVEO AG; Synthos S.A.; DowDuPont; Inc; Trelleborg AB; Zotefoams plc; Woodbridge Foam Corporation; Sealed Air Corporation |
Type Insights
Polystyrene foam was the largest type segment with a revenue share of more than 30.08% in 2021. It is expected to maintain its lead throughout the forecast period. The type is used in various applications, including furniture, cushions, and carpets. It has a wide customer base owing to its superior capabilities, such as lightweight, low heat and sound transfer, high-energy dissipation, and insulation. Increasing demand for residential and commercial space in Southeast Asian countries, such as Singapore, Korea, and Indonesia, is further expected to fuel the type demand in construction applications.
Expanded polystyrene foam is one of the lightest materials and on account of its high strength to weight ratio, it is used in packaging applications as it results in low fuel consumption and transport cost savings. It can also be used in rail applications, such as the construction of train station platform extensions and rail embankment. The rail infrastructure construction projects in Asia Pacific and the Middle East and Africa are expected to drive the demand for polystyrene foam over the forecast period.
Application Insights
The building and construction segment held the largest revenue share of more than 30.04% in 2021 owing to the rising applications of polymer foam for insulation purposes, flooring, pipe, molding, and in wire and cables. The furniture and bedding segment is expected to witness growth owing to increasing applications, such as carpet padding, fibers, chair cushions, mattress padding, and furniture.
The automotive segment is estimated to witness lucrative growth over the forecast period on account of the increasing product use in various automotive components, such as seats, dashboards, power trains, and suspension bushings. The recovery of the U.S. automobile sector, coupled with the increasing automotive demand in the emerging economies of India and China, is expected to have a positive impact on the overall market growth. Packaging is expected to follow the automotive segment and is likely to witness significant growth owing to surging demand for polystyrene foams from the packaging sector.
Regional Insights
Asia Pacific was the largest regional market and accounted for more than 35.0% share of the global revenue in 2021. A positive outlook for the manufacturing industry in light of the increasing focus on research and development, coupled with favorable government initiatives to attract investments, is expected to result in regional market expansion. Growing industrialization, production of automobile interiors or parts, and packaging industries in emerging economies, such as India and China, are expected to boost demand over the forecast period. Rising foreign direct investment is expected to contribute to investments in these sectors.
The U.S. market for polymer foam is driven by the rising demand for polyurethane and polystyrene foams in building and construction and marine applications and PVC foam in wind energy applications. According to the U.S. Department of Housing and Urban Development, the new residential housing completions increased from approximately 900 thousand units in 2014 to 1,200 thousand units in 2018. This steady rise in residential units had driven the demand from building and construction applications.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Polymer Foam Market
5.1. COVID-19 Landscape: Polymer Foam Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Polymer Foam Market, By Type
8.1. Polymer Foam Market, by Type, 2022-2030
8.1.1. Polyurethane Foam
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Polystyrene Foam
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. PVC Foam
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Phenolic Foam
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Polyolefin Foam
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Melamine Foam
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Polymer Foam Market, By Application
9.1. Polymer Foam Market, by Application, 2022-2030
9.1.1. Packaging
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Building & Construction
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Furniture & Bedding
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Automotive
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Rail
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Wind
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Marine
9.1.7.1. Market Revenue and Forecast (2017-2030)
9.1.8. Others
9.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Polymer Foam Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Armacell International S.A.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. BASF SE
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Borealis AG
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Fritz Nauer AG
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Koepp Schaum GmbH
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. JSP Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Polymer Technologies, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Recticel NV
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Rogers Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. SEKISUI ALVEO AG
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers