Growing Construction and Automotive Sectors Are the Key Factors Promoting the Growth of the Polymer Foam Market During the Forecast Period 2022-2027

The Polymer Foam Market size is projected to grow at a CAGR of 4.1% during the forecast period 2022-2027 and reach US$101.8 billion by 2027. The growth of the Polymer Foam Market is primarily dependent on the growth of the building & construction and automotive sectors. Polymer foams can be categorized into various types such as ethylene-vinyl acetate (EVA), polyvinyl chloride, polyethylene (PE) including low-density polyethylene (LDPE) and more. Polymer foam is primarily used in the building & construction industry for the insulation of water pipes, sealing of roofs and walls and installation of doors and windows. The properties of polymer foam such as excellent resistance to moisture, air and mold along with better noise reduction and shock absorption make them ideal for use in such construction applications. The surging developments associated with the building & construction and automotive sectors across the world have led to considerable growth in the Polymer Foam market. 

On the basis of the end-use industry, the Polymer Foam Market can be segmented into building & construction automotive, electrical & electronics, aerospace and others. The building & construction industry is evaluated to be the leading segment in the Polymer Foam market in 2021. During the forecast period 2021-2027, the packaging segment is expected to grow at a CAGR of 4.5%. This can be attributed to various reasons such as the surging construction activities across the world. According to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021 as compared to 2020.

On the basis of geography, the Polymer Foam Market can be segmented into North America, South America, Europe, APAC and EMEA. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most dominant region in the market. In 2021, the Asia-Pacific region held around 35% share of the total revenue earned by the market globally. Asia-Pacific countries including China, India and Vietnam are comparatively ahead in terms of the growth of the building & construction sector. In August 2020, the government of Vietnam commenced the construction of new buildings, combined with commercial services, offices and hotels in Thao Dien Ward, Vietnam. The project includes 33 buildings and 17 low-rises, which are scheduled to be completed by the end of 2022. The polymer foam market would also witness significant growth in the North American region. The USA and Canada are emerging as competitive countries in the Polymer Foam market.

Key companies holding major shares in the Polymer Foam Market are Arkema Group, Armacell International S.A., BASF SE, Borealis AG, Fritz Nauer AG, Koepp Schaum GmbH, JSP Corporation, Polymer Technologies, Inc., Recticel NV and Rogers Corporation. The key strategies adopted by the companies include product launches, acquisitions and others. In April 2020, JSP launched its new polymer foam that is mainly made of 15% recycled marine waste. This launch aims at strengthening the company’s product portfolio of sustainable solutions. Moreover, in August 2022, Owens acquired Natural Polymers LLC, a manufacturer of polyurethane foam for construction applications, with the motive of expanding the company’s Polymer Foam business in North America.