Foam Coatings Market: Foam coatings emerged as an attractive surface finishing material
- Foam coatings are non-toxic material that are utilized to protect the coated object from outer impact or abrasion. Foam coatings provide the barrier on the foam surface which increases the impact resistance of foam. Foam coatings provide hardness, flexibility, and protection against UV radiation. Various types of foam coatings include acrylic foam coatings, polyurethane foam coatings, epoxy foam coatings, polyester foam coatings, and PVC, latex, and vinyl coatings.
- The properties of coatings further provide protection against water damage and fire damage as a few foam possess water-absorbing properties. Foam coatings are utilized in various applications in diverse end-use industries such as manufacturing, automotive, construction, aerospace, medical military, and defense.
- Foam coatings provide hard and textured finish on the outer surface of different shapes and sizes of molds. These foam coatings are suitable for hot and cold climates. Coatings provide colorful and glossy finish to foams in order to enrich the foam texture. They also enhance the appearance of several products produced by foam such as custom signage, movie theme park sets, and props, museum displays, lightweight displays, and billboards. These benefits are projected to offer significant opportunity to foam coatings market during the forecast period.
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Key drivers of foam coatings market
- Increase in demand for polymer foam in various end-use industries due to high demand for lightweight and versatile foams is likely to boost the foam coatings market. The construction industry in majority countries across the globe has been witnessing rapid expansion for the last few years, which in turn is propelling the demand for polymer foam products for commercial and residential buildings across the globe. This, in turn, is projected to fuel the foams coatings market during the forecast period.
- Trends among consumers have been shifting toward green construction and building materials by using insulation products, such as polymer foams, to save energy in commercial and residential sectors. This change toward eco-friendly materials is expected to boost the demand for foam coatings during the forecast period.
Polyurethane foam segment to offer attractive opportunities
- Based on product type, the polyurethane foam coating segment is likely to secure a dominant share of the foam coatings market during the forecast period. Countries across North America and Europe witnessed high demand for polyurethane foam for insulation products, due to the cold climate experienced in these regions. Increasing stringent regulations to adopt energy-savings materials is projected to boost the demand for foam coatings products during the forecast period.
- The acrylic foam coatings segment is expected to offer significant opportunity for the foam coatings market due to several industrial applications such as construction and buildings, automotive, aerospace, medical & healthcare, and marine. Acrylic coating is also used in the paints and coatings industry. Resins are extensively utilized in foam coatings applications, as they possess stain protection and water resistance properties. These benefits are projected to fuel the foam coatings market during the forecast period.
Asia Pacific to hold prominent share in the global foam coatings market
- In terms of geographically, the demand for foam coatings can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a prominent producer and consumer of foam coatings, followed by North America and Europe. Asia Pacific is likely to dominate the global foam coatings market by 2027. Rising demand for foam coatings products in China, Japan, and South Korea in the automotive industry is estimated to offer significant opportunity during the forecast period.
- Additionally, rising demand for insulation products in the building & construction industry across developing economies, such as China, India, Indonesia, and Vietnam, is expected to fuel the demand for foam coatings among manufacturers operating in Asia Pacific.
- Rising FDI by major players especially in automotive and construction industries in developing economies of Asia Pacific is likely to drive the market in the region during the forecast period
- The construction sector in North America and Europe has been a prominent consumer of insulation foam products for the last few decades due to cold climatic conditions witnessed in these regions. Increase in demand for lightweight foam material is projected to offer significant opportunity to the foam coatings market during the forecast period.
- Rising import of foam coatings witnessed in Latin America and Middle East & Africa, due to its water-resistant and impact resistance properties, is likely to drive demand in both these regions.
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Key Players Operating in Market:
The global foam coatings market is fragmented in nature due to the presence of several global and domestic suppliers in the market. Few key players operating in the foam coatings market include
- Bradford Shawsheen Coating Technologies
- BASF SE
- Ashland Inc.
- Sika AG
- OMNOVA Solutions Inc
- Plasti Dip International
- Polycoat USA
Global Foam Coatings Market: Research Scope
Global Foam Coatings Market, by Product Type
- Acrylic Foam Coatings
- Polyurethane Foam Coatings
- Epoxy Foam Coatings
- Alkyl Foam Coatings
- Polyester Foam Coating
Global Foam Coatings Market, by End-use
- Building & Construction
- Oil & Gas
- Consumer Electronics
- Others (Military & Defense, etc.)
Global Foam Coatings Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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