Foam Plastics Market: Introduction

  • Foam plastics, also called cellular polymers, or expanded plastics, can be made from almost any type of polymer. Foam plastic is a synthetic resin converted into a sponge-like mass with a closed-cell or open-cell structure, either of which may be flexible or rigid. Foams with a closed-cell structure are produced by incorporating a blowing agent that decomposes at the fusion point of the plastic, releasing gas bubbles that are trapped during the gelling. Foams with an open-cell structure are produced by incorporating an inert gas into the resin under pressure and subsequently, releasing the mixture to the atmosphere and curing the resulting foam.
  • Almost any thermosetting or thermoplastic resin can be converted into a foam under appropriate conditions. A majority of all produced foam plastics are based on polyurethane (PU), polystyrene (PS), polyolefin, phenolic, polyvinylchloride (PVC), polyethylene (PE) and a number of elastomers such as ABS, natural rubber, and silicone. The type of polymer determines whether the resulting foam would be hard and rigid or soft and flexible.
  • Polyurethane foams are the largest class of foam plastics, accounting for a significant share of the total usage of plastic foam, globally. The properties of urethane foam can be tailored over a wide range, for a large number of applications. Polyurethane foam plastic is the dominant resin used for insulation in the building & construction industry. It has a low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties, which are helpful in the building & construction sector.
  • Foam plastics are the new emerging type of plastics possessing properties of heat preservation, lightweight, sound absorption, and quakeproof. This type of material can be used in cold storage and wall insulation, and to make the sandwich board.

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Key Drivers and Restraints of Global Foam Plastics Market

  • Foam plastics are extensively utilized for various applications in the building & construction sector including forging, doors, roof board, and slabs. Furthermore, a rise in new infrastructure development and huge investments in new housing projects, and renovation of non-residential buildings in developed and developing economies, such as China, India, and ASEAN countries, are expected to drive the global foam plastics market during the forecast period.
  • Foam plastics offers some outstanding benefits such as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. Therefore, this material has high demand from building & construction and automotive sectors. These factors are anticipated to drive the global foam plastics market in the near future.

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Foam Plastics: Type Segment

  • Base on type, the global foam plastics market can be segmented into, polyurethane, polystyrene, polyolefin, phenolic, and others (melamine, PVC, silicone, rubber, and polyvinylidene fluoride (PVDF).
  • The polyurethane resin segment is estimated to hold a significant share of the global market during the forecast period, owing to the benefits offered by polyurethane such as low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties.

Asia Pacific to be Key Region of Global Foam Plastics Market

  • In terms of region, the global foam plastics market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific and North America are expected to be key regions of the global foam plastics materials by 2027.

  • Asia Pacific has been witnessing a high rate of urbanization, growth in infrastructure, and increase in population. Demand for foam plastics materials has been high in developing countries of Asia Pacific, including India and China, due to a rise in the number of construction and infrastructure development projects undertaken by governments, increase in urbanization, and improvement in the standard of living of the people in the region.
  • The U.S. dominated the market in North America owing to a rapidly growing rate of residential construction. According to the U.S. Census Bureau, in 2018, residential construction increased by about 2.5 % from the previous year. This factor is expected to boost the foam plastics market in the region.

Key Manufacturers Operating in Global Foam Plastics Market

The global foam plastics market was highly fragmented in 2019. Major players have a prominent presence in developing countries. Key manufacturers operating in the global foam plastics market include:

  • BASF SE
  • Covestro
  • Huntsman International LLC
  • Dow
  • Wanhua Chemical Group Co., Ltd.
  • Hexion Inc.
  • MCNS
  • Sabic
  • Shell International B.V.
  • Total S.A.
  • Alchemie Ltd.
  • Cangzhou Dahua Group Co. Ltd.
  • China Petrochemical Corporation (Sinopec Group)
  • Kumho Mitsui Chemicals Corp.
  • Kuwait Polyurethane Industries W.L.L.

Global Foam Plastics Market: Research Scope

Global Foam Plastics Market, by Type

  • Polyurethane
  • Polystyrene
  • Polyolefin
  • Phenolic
  • Others (melamine, PVC, silicone, rubber, and polyvinylidene fluoride (PVDF))

Global Foam Plastics Market, by Application

  • Building & Construction
  • Packaging
  • Automotive
  • Furniture & Bedding
  • Footwear, Sports & Recreational
  • Others (aerospace, marine, refrigeration, medical, and wind energy)

 Global Foam Plastics Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • 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
  • Europe
  • 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.

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