Polyolefin Foam Market By Resin Type (Polypropylene, Polyethylene, Ethylene Vinyl Acetate), By End Use Industry (Automotive, Packaging, Construction, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The polyolefin foam market attained $8.2 billion in 2021 and is projected to reach $13.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Polyolefin is a type of polymer formed by the polymerization of a simple olefin. Polyolefin foams are versatile, lightweight, and environmentally benign. The items are available in both roll and sheet formats. Various industries, including building & construction, automotive, packaging, and furniture & bedding utilize polyolefin foam. The vast range of polyolefin foam applications drives the global market for these foams. Polyolefin foams provide compression set, chemical and abrasion resistance, flexibility, electrical and thermal insulation, and cushioning toughness. Its resilience provides good energy absorption, which is necessary for the majority of athletic pads, floating devices, cushion packaging, and occupant safety applications.
The market will likely be driven by rising demand from the building and construction and automotive industries. Polymer foams are commonly used in automotive components, rigid insulation panels, and carpet underlays, in conjunction with other materials in composite constructions, upholstery stuffing, and packaging, high-resilience foam seating, and other applications. Rigid polymer foams are primarily employed as insulation material in construction and refrigeration applications. They are energy-efficient and contribute to a reduction in energy expenditures. The majority of flexible materials are utilized as cushioning in furniture, transportation, packaging, bedding, carpet underlay, and other applications.
The increased emphasis on the production of biodegradable foams as a result of global environmental legislation has created new market prospects for manufacturers. These biodegradable varieties are nonetheless more expensive to produce than petroleum-based compounds. Therefore, it will take several years for manufacturers to embrace this variant entirely. However, rigorous laws and rising worries about the environmental impact of small plastic beads will impede the growth pace of the polyolefin foam industry. In addition, increased awareness of the harmful impacts of plastic on the environment is projected to impede the expansion of the polyolefin foam industry. The severe impact of COVID-19 on the supply chain and fluctuating raw material costs are projected to act as market restraints and further inhibit the growth rate of the polyolefin foam market. In addition, increased research and development efforts are anticipated to generate favorable possibilities for the market expansion of polyolefin foam. In addition, technological advancement, innovations, and possible opportunities in emerging markets are anticipated to create profitable growth opportunities for the market.
The global polyolefin foam market is segmented into resin type, end-use industry, and region. Depending on resin type, the market is divided into polypropylene, polyethylene, and ethylene-vinyl acetate. On basis of the end-use industry, it is categorized into automotive, packaging, construction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global polyolefin foam market are Arkema, Armacell, BASF SE, Dow Inc, DuPont, Hanwha solutions, Huzhou Changyuan Tefa Co., Ltd., Intecfoams, Kaneka Corporation, NMC International SA, SABIC, Sekisui Chemicals Co, Toray Industries, Inc, TotalEnergies, Ultralon. Other players operating in the market are Zotefoams Plc, Furukawa Electric Co., Ltd, Ds Smith Plc, Sonoco Products Company, Recticel NV, Borealis AG, Trocellen GmbH, and JSP Corporation.
IMPACT OF COVID-19 ON THE GLOBAL POLYOLEFIN FOAM MARKET
The COVID-19 epidemic has halted the processing of raw materials used in the production of polyolefin foam.
Asia's polyolefin foam production centers, which include Singapore, India, Thailand, China and Japan, supply the majority of these raw materials.
In addition, the developing coronavirus pandemic in Asia-Pacific has disrupted the availability of these essential elements.
Due to a lack of raw materials, polyolefin foam product demand has been hampered. Private structures and construction sites, as well as government projects and the vehicle refinishing sector, will be severely damaged in April 2020.
Since the release of the lockdown and other restrictions, the global polyolefin foam market is expected to experience exponential growth. The majority of the market's expansion can be attributed to growth in the construction, healthcare, and various chemical industries.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyolefin foam market analysis from 2021 to 2031 to identify the prevailing polyolefin foam market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the polyolefin foam market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global polyolefin foam market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Resin Type
Polypropylene
Polyethylene
Ethylene Vinyl Acetate
By End Use Industry
Automotive
Packaging
Construction
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
Southkorea
Rest of Asia-Pacific
China
Japan
India
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Armacell
BASF SE
DOW INC
DuPont de Nemours, Inc.
Hanwha solutions
Huzhou Changyuan Tefa Co.,Ltd.
Intecfoams
KANEKA CORPORATION
NMC International SA
SABIC
Sekisui Chemicals Co.
Toray Industries, Inc.
TotalEnergies
Ultralon
Arkema
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook