Technical Foam Market to Reach $15.75 Billion by 2025 - Production of Bio-based Polyols Presents Opportunities

DUBLIN, May 27, 2020 /PRNewswire/ -- The "Technical Foam Market by Form (Flexible, Rigid, Spray), Material (Elastomeric, PU, PE, Expanded Foam), End Use (Electricals & Electronics, Automotive & Transportation, Commercial Buildings, Office Equipment, Medical), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global technical foam market is estimated to be USD 9,104 million in 2020 and is projected to reach USD 15,750 million by 2025, rising at a CAGR of 11.6%.

Technical foams find wide application in the automotive & transportation sector, which includes automotive, aviation, marine, and other transportation. They also witness demand as acoustic solutions to tackle noise pollution. These factors drive the growth of the technical foam market.

The automotive & transportation segment is expected to hold the largest share of the technical foam market during the forecast period.

The automotive & transportation segment accounted for the largest share of the technical foam market in 2019. The insulation benefits that technical foam provides in automotive & transportation include heat shields, battery insulation, fire protection, and insulation for data recorders. Fireproofing of the bodywork and interiors is a key part of vehicle safety. High-temperature insulation improves vehicle safety, supports advanced technological vehicle components, and extends the useful lifespan of vehicles on the road, air, and water.

Spray foam is expected to witness the highest growth in the technical foam market during the forecast period.

The spray foam segment is expected to witness the highest growth during the forecast period. This growth can be attributed to its ease of manufacturing and convenience of application. Spray foams are widely used in insulation and acoustic applications in the building & construction industry since they act as air barriers, which means they expand quickly and fill up cracks and crevices. They also reduce air leakage through building envelopes, which, in turn, helps in lowering the cooling and heating costs of buildings.

Polyurethane segment is expected to lead the technical foam market during the forecast period.

Based on material, the polyurethane segment is estimated to account for the largest share of the technical foam market in 2020. The growth of this segment can be attributed to the increase in demand from the automotive & transportation, commercial buildings, electricals & electronics, office equipment, and medical end uses. The demand in these end uses is due to the low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and insulating properties of PU foam.

Asia-Pacific is projected to grow at the highest CAGR of the technical foam market during the forecast period.

The Asia-Pacific technical foam market has been studied for China, Japan, India, South Korea, and the Rest of Asia-Pacific. This region is a lucrative market for technical foam, owing to demographic changes, improving economic conditions of emerging economies, and increasing industrialization. Major market players such as Sekisui Chemical Co and INOAC Corporation have a presence in the Asia-Pacific in terms of manufacturing facilities, distribution systems, and sales offices, which generates an adequate supply of technical foam in this region.

The players mentioned above are acquiring small-scale companies and technical foam fabricators in the region, which drives the market growth. Moreover, technical foam manufacturers in North America and Europe are expanding their business in the Asia-Pacific region, and there is a significant knowledge transfer taking place between developed and emerging countries through active engagements in different forums.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Technical Foam Market
4.2 Technical Foam Market, by Material
4.3 Technical Foam Market, by Form
4.4 Technical Foam Market, by End-use and Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand from Automotive & Transportation Sector
5.2.1.2 Rising Demand for Acoustic Solutions to Tackle Noise Pollution
5.2.2 Restraints
5.2.2.1 Fluctuations in Availability and Prices of Raw Material
5.2.3 Opportunities
5.2.3.1 Production of Bio-based Polyols
5.2.4 Challenges
5.2.4.1 High Capital Cost and Lack of Skilled Labor
5.2.4.2 Health Risks Associated With the Use of Spray Foam
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Coronavirus (COVID-19) Impact Assessment
5.4.1 Disruption in End-Use Sectors
5.4.2 Impact of COVID-19 on Automotive & Transport
5.4.3 Impact of COVID-19 on Commercial Buildings
5.4.4 Impact of COVID-19 on Electricals & Electronics
5.4.5 Impact of COVID-19 on Medical End-use

6 Technical Foam Market, by Form
6.1 Introduction
6.2 Flexible Foam
6.2.1 Softness and Moisture Resistance Properties Expected to Drive the Market for Flexible Foam
6.3 Rigid Foam
6.3.1 Ability to Withstand Pressure Fuels the Market for Rigid Foam
6.4 Spray Foam
6.4.1 Better Insulation Properties Than Other Foams Expected to Drive the Market for Spray Foams

7 Technical Foam Market, by Material
7.1 Introduction
7.2 Polyurethane (PU)
7.2.1 Increasing Demand from Automotive & Transportation Segment Expected to Drive the Polyurethane Segment
7.3 Elastomeric
7.3.1 Moisture Resistance Properties Projected to Fuel the Market for Elastomeric Foam
7.4 Polyethylene
7.4.1 Sound-Absorbing and Dampening Properties Expected to Trigger the Polyethylene Market
7.5 Expanded Foam
7.5.1 Increasing Use in Food Packaging Applications to Drive the Market for Expanded Foam
7.6 Others
7.6.1 Increasing Applications of Other Foams Expected to Drive the Market

8 Technical Foam Market, by End-use
8.1 Introduction
8.2 Automotive & Transportation
8.2.1 Ability to Perform in Adverse Environments Drives the Use of Technical Foam in Automotive & Transportation
8.3 Commercial Buildings
8.3.1 Increasing Construction Activities Projected to Fuel The Commercial Buildings Segment
8.4 Electricals & Electronics
8.4.1 Increase in the Consumption of Smart Home Appliances is Expected to Drive the Electrical & Electronics Segment
8.5 Office Equipment
8.5.1 Increasing Number of Commercial Buildings Will Trigger the Market for Technical Foam in Office Equipment
8.6 Medical
8.6.1 Resistance to Microbial Growth and Low Moisture Absorption Projected to Fuel the Market for Medical End-uses
8.7 Others
8.7.1 High Tensile Strength, Tear Strength, and Load-Bearing Performance Drive the Market for Other End-uses

9 Technical Foam Market, by Region
9.1 Introduction
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 China is Expected to Lead the Asia-Pacific Technical Foam Market
9.2.2 Japan
9.2.2.1 Increase in Demand for Pipe Insulation Drives the Market in Japan
9.2.3 India
9.2.3.1 Increase in the Construction of Commercial Buildings Will Fuel The Technical Foam Market in India
9.2.4 South Korea
9.2.4.1 Increase in the Demand for Foam in Electronics Products is Projected to Drive the Market in South Korea
9.2.5 Rest of Asia-Pacific
9.2.5.1 Stringent Regulations for Efficient HVAC Systems Projected to Propel the Market in Rest of Asia-Pacific
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is Expected to Lead the Market in Europe
9.3.2 UK
9.3.2.1 Growth in Commercial Sector Will Drive the Demand for Technical Foam in the UK
9.3.3 France
9.3.3.1 Increase in New Construction Projects Expected to Trigger Market Growth in France
9.3.4 Italy
9.3.4.1 Increase in Automotive Vehicle Sales Drives the Market in Italy
9.3.5 Spain
9.3.5.1 Growing Infrastructural Activities Projected to Drive the Market in Spain
9.3.6 Russia
9.3.6.1 Low Temperatures in the Country Drive Demand for Technical Foam in Russia
9.3.7 Turkey
9.3.7.1 Growing Commercial Building Sector Projected to Drive the Market in Turkey
9.3.8 Rest of Europe
9.3.8.1 Presence of Major Players to Propel the Market in Rest of Europe
9.4 North America
9.4.1 US
9.4.1.1 Increase in Demand for Polyurethane from Automotive & Transport Projected to Drive Market in the US
9.4.2 Canada
9.4.2.1 Increase in Demand for Acoustic Insulation in Construction Expected to Fuel the Market in Canada
9.4.3 Mexico
9.4.3.1 Increasing Investment in Construction is Expected to Trigger the Technical Foam Market in Mexico
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Increase in Construction Activities Expected to Propel the Market in Saudi Arabia
9.5.2 UAE
9.5.2.1 Increase in Sales of Automobiles Projected to Drive the Market in the UAE
9.5.3 South Africa
9.5.3.1 Government Initiatives and Increase in Infrastructural Activities Drive the Market in South Africa
9.5.4 Rest of Middle East & Africa
9.5.4.1 Increasing Construction of Commercial Buildings Projected to Drive Market in Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Brazil is Expected to Lead the Technical Foam Market in South America
9.6.2 Argentina
9.6.2.1 Increasing Expenditure in Medical Sector Projected to Drive the Market in Argentina
9.6.3 Rest of South America
9.6.3.1 Increase in Demand from Office Equipment and Medical End Uses Expected to Drive the Market in Rest of South America

10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
10.5 Share of Key Players in the Technical Foam Market

11 Company Profiles
11.1 BASF SE
11.2 Sekisui Chemical Co. Ltd.
11.3 DOW Inc.
11.4 Huntsman Corporation
11.5 Trelleborg AB
11.6 Armacell International S.A.
11.7 Recticel N.V./S.A.
11.8 Inoac Corporation
11.9 UFP Technologies, Inc.
11.10 FXI Holdings, Inc.
11.11 Foampartner Group
11.12 Lanxess AG
11.13 Eurofoam Group
11.14 Wanhua Chemical Group Co. Ltd.
11.15 Sheela Foam Limited.
11.16 Compagnie de Saint-Gobain S.A.
11.17 The Woodbridge Group
11.18 General Plastics Manufacturing Company
11.19 Other Key Players
11.19.1 Adient plc
11.19.2 Future Foam, Inc.
11.19.3 American Foam Products Inc.
11.19.4 Carpenter SAS (Subsidiary of Carpenter Co.)
11.19.5 Foam Supplies, Inc.
11.19.6 Henkel Polybit Industries Ltd.
11.19.7 REMPAC Foam Corporation

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