Polyolefin is a class of polymer produced from a simple olefin through polymerization. The foams of polyolefin are lightweight, environmentally friendly, and versatile. The products are available in the form of rolls and sheets. Polyolefin foam is used in various industries such as packaging, building & construction, furniture & bedding, and automotive.
The global polyolefin foams market is driven by the diverse range of applications of these foams. Polyolefin foams offer flexibility, cushioning, compression set, toughness, chemical and abrasion resistance, and electrical and thermal insulation properties. The resiliency of this product gives excellent energy absorption, a requirement in most cushion packaging, athletic pads, floatation devices, and occupant safety applications.
Based on application, the polyolefin foam market can be segmented into packaging, building & construction, furniture & bedding, automotive, and others. Demand for polyolefin foams is high in the building & construction industry. Thus, building & construction is one of the major applications of the market. Demand for polyolefin foams is also significant in the automotive segment. Therefore, the segment is estimated to expand at a rapid CAGR in the next few years. Demand for polyolefin foam in the automotive segment is high due to its usefulness in myriad applications such as gaskets, headliners, cushioning, and cables. Environment regulations set for different industry sectors facilitate the growth of foams. However, fluctuation in prices of raw material and recessionary impact are expected to adversely affect the growth of the market. Demand for polyolefin foam is high in the packaging sector. Increasing application of the product in numerous industries is projected to propel the polyolefin foam market over the next few years. Rise in technical advancement coupled with constant innovation in terms of research and development taking place in the industry is anticipated to boost the demand for polyolefin foam during the forecast period. Polyolefin foam offers various expansion opportunities to the end-use consumer products and various other industries. This is projected to drive the market during the forecast period.
These foams are highly resourceful due to the constant R&D effort in the sector. Depending on the performance property requirement, polyolefin foam is cross-linked or non-cross-linked. Polyolefin foam can be broadly divided into polyethylene, polypropylene, and ethylene vinyl acetate copolymer foams. EVA foams are generally cross-linked and used for various applications such as footwear, sporting goods, medical applications, and other miscellaneous applications.
Asia Pacific is a rapidly growing region of the polyolefin foam market in terms of volume. The market in the region is projected to expand significantly during the forecast period due to the increase in construction activities in emerging economies such as India and China. Improvement in standard of living and rise in per capita income are likely to be the major drivers of the market during the forecast period. Rise in automotive manufacturing activities in emerging economies such as India and China is estimated to propel the market in the near future. Europe and North America are expected to remain important markets for polyolefin foam owing to the increase in penetration of the product in packaging, aviation, and marine sectors in these regions.
Polyolefin foam are manufactured from a wide variety of raw materials. Raw materials are supplied by major companies such as BASF SE, JSP Corporation, Armacell International S.A., Dow Chemical Company, Borealis AG, Woodbridge Foam Partner, INEOS Styrenics, and British Vita Foams Plc.
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.