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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.