Structural Foam Market: An Emerging Technology
- Structural foams are thermoplastic injection molding components with each one having a cellular foamed core and solid skin surrounding the core
- The injection molding (structural foam molding) process is generally used to develop structural foams. The process involves use of a chemical blowing agent or inert gas such as nitrogen or carbon dioxide.
- The process of structural foam molding generally employs low injection pressure that usually ranges from 3,000 PSI to 6,000 PSI. Sometimes, high injection pressure is also used to mold structural foams.
- Polypropylene, polyethylene, polystyrene, and polyurethane are major raw materials used in the manufacture of structural foams. Polyethylene is a major thermoplastic used in the production of structural foams.
Key Drivers of Global Structural Foam Market
- Rising use of structural foams in material handling equipment that are used for transportation of goods within a manufacturing plant for short distances is expected to drive the global structural foam market in the material handling application segment during the forecast period
- Rapid rise in the usage of structural foam products in wind power, shipbuilding, and consumer goods sectors is also anticipated to boost the others application segment of the global structural foam market during the forecast period
- Increasing spending in construction and automotive sectors, particularly in developing countries such as Brazil, China, India, Mexico, Russia, and South Africa is expected to drive the demand for injection molded structural foam in these countries in the next few years
- Rapid adoption of plastic pallets as an alternative for conventional wooden pallets, especially structural foam pallets is expected to drive the material handling segment of the global structural foam market in the near future
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Key Restraints of Global Structural Foam Market
- Varying prices of raw materials and increasing preference for bio-based plastics as a dependable alternative for non-biodegradable foams can act as restraints of the global structural foam market in the next few years
- Growing environmental concerns related to product disposal are anticipated to hamper the global structural foam market during the forecast period
Advantages of Use of Structural Foams
- Structural foam is notably lighter than solid plastic products. They exhibit a high strength-to-weight ratio and low-cost tooling, which is an added advantages.
- Structural foams are primarily employed to attain durability, conductivity, heat resistance, and strength in a wide range of applications including wind turbines, automotive components, and insulation of building roofs, doors, columns, etc.
- Furthermore, increased strength and stiffness, low stress and warpage, superior impact resistance, and long life expectancy for tooling are some of the additional benefits of using structural foams Other properties such as insulation and vibration dampening, light weight, durability, resilience, and closed-cell material characteristics are increasing the adoption of structural foams in packaging of fragile goods as well as in the automotive industry
North America to Lead Global Market for Structural Foam
- In terms of region, the global structural foam market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to dominate the global structural foam market, owing to increasing use of structural foams in wind turbines and building and construction activities in this region
- Developing economies in Asia Pacific, such as India, China, and Indonesia, are anticipated to emerge as the most rapidly expanding structural foam markets in the near future, due to increasing usage of advanced materials in the building & construction industry in these countries
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Key Manufacturers Operating in Global Market
The global structural foam market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- One Plastic Group
- Season Group
- Bayer Material Science
- BASF SE
- Changzhou Tiansheng New Materials Co., Ltd.
- Evonik Industries
- PSI Molded Plastics
- The Dow Chemical Company
- Covestro AG
- Diab International AB
- Gurit Holding AG
Global Structural Foam Market: Research Scope
Global Structural Foam Market, by Product
Global Structural Foam Market, by Application
- Material Handling
- Building & Construction
- Electrical & Electronics
Global Structural Foam Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & 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
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- 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
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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.
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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?
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