The global demand for Foam Plastics Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX KT by 2028 with a CAGR of XX% during 2022-2028.
Foam plastics are also known as cellular polymers, or expanded plastics can be manufactured from various polymer types. The foam plastic is a synthetic resin converted into a sponge-like mass with an open cell structure or closed cell structure, either rigid or flexible. Foams with an open-cell structure are manufactured by integrating an inert gas into the resin under pressure and eventually releasing the mixture to the atmosphere and curing the resulting foam. Foams with a closed-cell structure are made by including a blowing agent that decomposes at the fusion point of the plastic, freeing gas bubbles that are caught during the gelling. A majority of all produced foam plastics are based on polyurethane, polystyrene, polyolefin, phenolic, polyvinylchloride, polyethylene, and several elastomers such as ABS, natural rubber, and silicone. The type of polymer defines whether the resulting foam would be hard and rigid or soft and flexible.
Market Dynamics
The rising demand for automotive, furniture & bedding, and packaging applications mainly drives the foam plastics market. In addition to this, favorable properties such as strength, stiffness, thermal insulating properties, lightweight and low maintenance cost, is the primary driving factor. However, highly flammable and release toxic gases after combustion. Thereby, these are the factors that are expected to hinder the growth of the market over the forecast period.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of foam plastics. The growth and trends of Foam Plastics Industry provide a holistic approach to this study.
Market Segmentation
This section of the foam plastics market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Polyurethane
- Polystyrene
- Polyolefin
- Phenolic
- Others
By Application
- Building & Construction
- Packaging
- Automotive
- Furniture & Bedding
- Footwear, Sports, & Recreational
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Foam Plastics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Foam Plastics Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the foam plastics market include Alchemie Ltd., BASF SE, Covestro, Hexion Inc., Huntsman International LLC, Repsol, Sabic, the Dow Chemical Company, Total S.A., and Wanhua Chemical Group Co., Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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