Sep 6, 2017   SOURCE: BusinessWire

Top 5 Vendors in the Engineered Foams Market from 2017 to 2021: Technavio

Technavio has announced the top five leading vendors in their recent global engineered foams market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.

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Technavio has published a new report on the global engineered foams market from 2017-2021. (Graphic: ...

Technavio has published a new report on the global engineered foams market from 2017-2021. (Graphic: Business Wire)

In 2016, the global engineered foam market was dominated by polyurethane and polyolefin engineered foams, accounting for a market share of 43.2% and 31.4% respectively. The new advances to enhance the properties of polyolefin engineered foams are expected to increase the share. The global engineered foams market is a stable industry with a healthy growth rate. Revenue gains are expected from the transportation sector owing to increased demand from developing economies.

Competitive vendor landscape

The global engineered foam market is highly competitive with the presence of both regional and global players. The major global vendors are Armacell, BASF, Covestro, Huntsman, and Recticel. Growth in the transportation sector in developing regions and the flourishing building and construction sector have driven the demand for engineered foams.

“The manufacturers of engineered foam are affected by fluctuating raw material costs and strict regulations on the use of engineered plastic bags. The focus on R&D, expansion strategies, customization of product offerings, and engagement of existing customers to draw in potential customers have increased,” says Hitesh Bhatia, a lead plastics, polymers, and elastomers research analyst from Technavio.

Customers seek innovative and efficient solutions while being price sensitive. Global and local players are trying to hold their position in the market by enhancing their performance. Strategic alliances with local manufacturers will aid the global manufacturers to increase their offering and gain a regional foothold.

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Top five engineered foams market vendors

Armacell

Armacell engages in providing custom-made high-performance engineered foams to a wide range of industries including windmills, automotive, transportation, and sports. The engineered foams business offers component foams and PET foams. Its sales were driven by organic growth of the US component foams business and the global polyethylene terephthalate (PET) business. It offers ArmaFORM made from post-consumer PET materials.

BASF

BASF offers Stimulite, a flexible foam made from thermoplastic urethane. The product is known to provide lightweight features along with comfort. This product is largely used in the aerospace sector. The company also offers Lupranol and Pluracol, which are polyether polyols, and Lupraphen, which is a polyester polyol. They are used in the manufacture of polyurethane foams.

Covestro

Covestro mainly produces rigid polyurethane foams for different applications such as insulating panels and construction. It provides products such as Baymer, Baynat, Baysafe, and Baytherm in the polyurethane rigid foams segment. Baytherm is mainly used for the insulation in refrigerators and freezers. Baymer is used in the construction industry.

Huntsman International

Huntsman International provides MDI-based polyurethane foams that are used in a wide range of applications such as adhesives, coatings, elastomers, insulation, footwear, automotive, composite wood products, bedding and furniture, and thermoplastic polyurethanes.

Recticel

Recticel offers technical foams through its flexible foams business segment, which accounted for 42.67%, in 2016. Thermoflex is a polyurethane foam providing lightweight and self-supporting parts. They also have superior silencing abilities.

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