Polymer Foam Market – Overview
The usage of Polymer Foam especially has increased considerably due to the rise in the construction activities globally. Market Research Future which concentrates on market reports associated to the chemicals and materials sector among others recently made available a report on this industry. The sector is expected to develop with an incomparable CAGR per cent in the forecast period while earning a high level of revenue in the forecast period.
Increasing rates of crude oil production has further motivated the growth of the market to a high extent. Evolution of the automotive sector also plays a critical role in the development of the Polymer Foam Industry. Rapid urbanization is also a key factor in the growth of the Polymer Foam Industry. Heightened level of investment in the sector has increased the growth scope of the market in the forecast period.
The Polymer Foam Industry globally is divided on the basis of product type, type, region and end user industry. The category of type has further divided the market into rigid and flexible. The category of product type further divides the sector into polyurethane (PU), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), polyethylene (PE) and others. The end user category has divided the polymer foam industry into transportation, construction, packaging, furniture, textiles and others. The region wise division of the sector includes the areas of Europe, Asia Pacific, North America, Latin America and the Middle East & Africa.
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Detailed Regional Analysis
The Polymer Foam sector includes the regions such as Europe, Asia Pacific, North America, Middle East, Latin America and Africa. Between these regions, the Asia Pacific market is forecasted to develop with a high CAGR per cent in the review period on account of the increasing construction sector. Furthermore, the unceasing evolution of the automotive industry in numerous markets of Asia Pacific is anticipated to increase the demand for Polymer Foam based cushioning materials which in turn is expected to drive the demand for polymer foam over the forecast period.
The demand for Polymer Foam is expected to grow in various nations in the Middle East & Africa such as the United Arab Emirates, Iraq, Iran, Saudi Arabia and Kuwait owing to the high adoption rate by the crude oil producers. Furthermore, the incidence of great oil & gas reserves in this area are expected to decrease the raw material demand gap for the polymer foams sector and drive the development of the sector. The North American segment is expected to observe a high growth rate in terms of high consumption potential, growing production capacities, and intensifying economic growth rate. As of 2016, the U.S has occupied the main market portion and is projected to develop with a modest CAGR rate on account of development in furniture sector. In Europe, the demand for polymer foam is predicted to grow in various countries in the region on because of rising expenses in innovation and rising purchasing power of users. Additionally, the presence of major automobile manufacturers specifically in certain countries is anticipated to give a thrust to the market growth. The Asia Pacific sector is projected to develop with a modest CAGR owing to the emerging crude oil and expanding petroleum refineries in countries like China and India.
Global Competitive Analysis
The trend for diversification in the sector has facilitated the players to access the lucrative state of affairs available in this market are being utilized by candidates who are trying to grow their industry coverage by intensive development which can stimulate the expansion of this business sector. The products are also being specialized to large extent to keep up with the vigorous pace of technological discoveries. The firms are also additionally trying to create and capture economic worth together in a proper manner. This has raised the potential for the approaching growth period considerably. This situation has additionally established to be productive for businesses so they can fix goals that can support their enterprise’s viable liquidity to take the effective decisions in terms of strategy designing and execution.
The major players operating in the Polymer Foam Market are Toray Industries, Inc. (Japan), BASF SE (Germany), The Dow Chemical Company (U.S.), Rogers Corporation (U.S.), Recticel NV (Belgium) and Arkema S.A. (France).
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Polymer Foam Market to diversify at an unprecedented rate by the year 2023 #MRFR @BASF @DowChemical @SABIC @Arkema_group
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