Polymer Foam Market worth $114.8 billion by 2025 | Key Players include BASF SE, Rogers Corporation, Dow Chemical Company, Recticel NV/SA, Sealed Air Corporation

According to recent market research "Polymer Foam Market by Resin Type (PU, PS, PO, Phenolic), Foam Type (Rigid, Flexible), End-Use Industry (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports & Recreational), and Region - Global Forecast to 2025", is projected to grow from USD 90.7 billion in 2020 to USD 114.8 billion by 2025, at a CAGR of 4.8%. Polymer foam is largely used in the building & construction, packaging, and furniture & bedding. The polyurethane segment is estimated to account for the largest share of the overall market due to its properties such as low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties.

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PU foam is available in a wide range of rigidity, hardness, and density levels. Low-density flexible foams are used in upholstery, bedding, automotive and truck seating, and novel inorganic plant substrates for roof or wall gardens. PU foams are mainly used in furniture & bedding and building & construction sectors. It is produced by many leading manufacturers. In addition, PU foam is a good choice for insulation and helps in reducing CO2 emissions. It is a versatile substance, in terms of properties, and is, therefore, suitable for use in construction and automotive industries. As the construction industry is growing rapidly in APAC, PU plays a dominant role in the growth of the overall polymer foam market in the region.

The footwear, sports & recreational segment is projected to be the fastest-growing end-use industry of polymer foam. The properties offered by polymer foams, such as good thermoforming capacity and creep resistance, make it suitable for use in many sporting goods such as skis, hockey sticks, snowboards, surfboards, and racing bicycle wheels. Using polymer foams in sporting goods make the final products lightweight and durable with high mechanical properties.

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The polymer foam market is projected to grow from USD 90.7 billion in 2020 to USD 114.8 billion by 2025, at a CAGR of 4.8% between 2020 and 2025. APAC is the largest consumer of polymer foam. The overall growth of the market is triggered by the growth of major end-use industries of polymer foams, high demand for polymer foams in APAC, and energy sustainability and energy conservation properties of polymer foam.

The key players operating in the market are BASF SE (Germany), Rogers Corporation (US), The Dow Chemical Company (US), Recticel NV/SA (Belgium), Sealed Air Corporation (US), Huntsman International LLC (US), and Armacell International S.A. (Germany). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement, to grow in the market. Investment & expansion was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies enhance their global presence.

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BASF SE (Germany) is a diversified chemical company. The company has five business segments: Functional Materials & Solutions, Chemicals, Performance Products, Agricultural Solutions, and Others. The company operates through six integrated production sites and 390 other production sites in Europe. It has a strong customer base and operates in many countries in Europe, North America, APAC, Africa, and the Middle East. In March 2019, BASF enhanced its regional innovation capabilities with new facilities at the Innovation Campus Shanghai to further strengthen collaboration with the automotive industry and to offer new process catalysts to the chemical industry. With an investment of approximately USD 38.0 million, the new 5,000-square-meter facilities include the Automotive Application Center and the Process Catalysis Research & Development (R&D) Center. One of the innovations include polyurethane (PU) integral foam solutions with an open cell structure offering unique performance as they are light-weight, with excellent sound insulation and flame resistance.

The Dow Chemical Company is a diversified, global manufacturer and supplier of products which are used primarily as raw materials in the manufacture of customer products and services. It operates through three business segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings.

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