Technical Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Technical Foam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global technical foam market size reached US$ 31.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

Technical foam relies on rubber and polymer blends developed for different industrial and commercial applications, such as filtering, sealing and sound insulation. It is lightweight, durable, robust, mildew resistant, and skin-friendly and offers resistance against heat. As a result, it is employed in the electronics, aviation, marine, and packaging industries. At present, there is a significant increase in the investments made by homeowners to maintain their floors, roofs, and walls, which is catalyzing the demand for technical foam across the globe.

Technical Foam Market Trends:

Rising building and construction activities represent one of the key factors positively influencing the market. Moreover, technical foam is extensively utilized in the automotive industry as it helps reduce the weight of insulation and improve the fuel efficiency of vehicles. It is also used in electric vehicles (EVs) for foam compression and providing protection against shock and rattling in battery components. Moreover, technical foam comprises polyurethane (PU) foam, which has high mechanical strength and low density, heat conduction coefficient, and water absorption properties. As a result, it is employed in catheters, general-purpose tubing, surgical drapes, hospital bedding, wound dressings, and short-term implants in the healthcare industry. In addition, PU foam finds applications as a cushioning material for gymnastics, martial arts, judo, wrestling, and agility mats in schools, sports halls, and leisure and climbing centers. Apart from this, key players are introducing bio-based product variants that are made using renewable resources. This, coupled with rising technological advancements, is fueling the growth of the market. Other factors, including rapid industrialization and the growing requirement for acoustic solutions to tackle noise pollution, are anticipated to create a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global technical foam market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product form, material and end use industry.

Breakup by Product Form:

Flexible

Rigid

Spray

Breakup by Material:

Elastomeric

Polyurethane

Polyethylene

Others

Breakup by End Use Industry:

Automotive and Transportation

Electrical and Electronics

Building and Construction

Medical

Sporting Equipment

Packaging

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Armacell, BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, Kaneka Corporation, Recticel, Saudi Basic Industries Corporation (Saudi Aramco), Sealed Air Corporation, Sekisui Chemical Co. Ltd., Woodbridge and Zotefoams Plc.

Key Questions Answered in This Report

1. What was the size of the global technical foam market in 2022?

2. What is the expected growth rate of the global technical foam market during 2023-2028?

3. What are the key factors driving the global technical foam market?

4. What has been the impact of COVID-19 on the global technical foam market?

5. What is the breakup of the global technical foam market based on the product form?

6. What is the breakup of the global technical foam market based on the material?

7. What is the breakup of the global technical foam market based on the end use industry?

8. What are the key regions in the global technical foam market?

9. Who are the key players/companies in the global technical foam market?