Feb 8, 2022   SOURCE: BusinessWire

Industrial Foam Market by Foam Type, Resin Type, End-Use Industry and Region - Global Forecast to 2026 - ResearchAndMarkets.com

The "Industrial Foam Market by Foam Type (Flexible, Rigid), Resin Type (Polyurethane, Polystyrene, Polyolefins, Phenolic, Pet), End-Use Industry and Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The industrial foam market size is estimated at USD 55.6 billion in 2021 and is projected to reach USD 72.2 billion by 2026, at a CAGR of 5.4% between 2021 and 2026.

The market is propelled by the growth of various end-use industries such as building and construction, HVAC, aerospace. Increasing investments in infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted the market growth.

Aerospace as an end use industry of industrial foam is projected to grow at the highest CAGR during the forecast period

The aerospace industry is estimated to account for the second-largest share of the industrial foam market in 2021 and is projected to be the fastest-growing type segment from 2021 to 2026. The growth is due to rising use of a high percentage of PMI, silicones, and metal foams in new-generation aircraft by aircraft manufacturers

PET as resin type is anticipated to grow at the highest CAGR during the forecast period

PET foam is anticipated to grow at the highest CAGR in the global industrial foam market from 2021 to 2026. PET foam is projected to register the highest CAGR during the forecast period, this is due to a surge in demand for PET foam in Asia Pacific due to increasing demand from the wind energy industry.

Asia-Pacific is projected to grow at the highest CAGR during the forecast period

Increasing demand for industrial foam from the rapidly growing industrial sector in the Asia Pacific region is one of the major factors responsible for the highest share and CAGR of this region. The industrial foam market in Asia-Pacific is driven by the easy availability of raw materials, increased foreign investments, and low labor costs. The end-use industries of industrial foams, such as building & construction, HVAC, and aerospace, are growing in emerging countries such as China, India, Indonesia, and Thailand, which play an important role in driving the market.

Market Dynamics

Drivers

  • Increasing Demand for Foam from Various Industries
  • Energy Conservation and Sustainability

Restraints

  • Volatility in Raw Material Prices

Opportunities

  • Growing Demand for Bio-Based Polyols
  • Increasing Use of Co2-Based Polyols

Challenges

  • Stringent Regulations Pertaining to Use of Chemicals
  • Supply Chain, Trade, and Economic Disruptions Due to COVID-19 Pandemic

Companies Mentioned

  • Ach Foam Technologies, Inc.
  • Arkema S.A.
  • Armacell
  • Basf Se
  • Borealis Ag
  • Chemtura Corporation (Lanxess)
  • Covestro Ag
  • Dow Chemical
  • Eurofoam Group
  • Foampartner Group
  • Hanwha Chemical Corporation
  • Huntsman Corporation
  • Jsp Corporation
  • Kaneka Corporation
  • Loyal Group
  • Mitsui Chemicals Corp.
  • Recticel Nv/Sa
  • Rogers Corporation
  • Sabic
  • Saint-Gobain
  • Sealed Air Corporation
  • Sekisui Chemical Co. Ltd.
  • Simona America Inc.
  • Toray Industries, Inc.
  • Tosoh Corporation
  • Trelleborg Ab
  • Woodbridge Foam Corporation
  • Zotefoams plc

For more information about this report visit https://www.researchandmarkets.com/r/h5ahsf