Foam Plastics Market by Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, and Others) and Application (Building & Construction; Packaging; Automotive; Furniture & Bedding; Footwear, Sports, & Recreational; and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Foam Plastics Market Overview 2027

The global foam plastics market was valued at $102.0 billion in 2019, and is projected to reach $123.7 billion by 2027, growing at a CAGR of 3.3% from 2020 to 2027.

 

Foam plastics, also known as cellular polymers, or expanded plastics, can be made from almost any type of polymer. Foam plastic is a synthetic resin with a closed-cell or open-cell structure transformed into a sponge-like mass, either of which can be flexible or rigid. By adding a blowing agent that decomposes at the fusion point of the plastic, releasing gas bubbles trapped during gelling, foams with a closed-cell structure are formed. Foams with an open-cell structure are formed under pressure by integrating an inert gas into the resin and then releasing the mixture into the atmosphere and curing the resulting foam.

 

In the building & construction segment, foam plastics are commonly used for various applications, including forging, doors, roof boards, and slabs. In addition, new infrastructure growth and major investments in new housing projects & renovation of non-residential buildings are expected to drive the global foam plastics market during the forecast period in developed and developing economies such as China, India, and ASEAN countries. Some outstanding advantages are provided by low-cost foam plastic materials such as low coefficient of heat conduction, low density, low water absorption, relatively good mechanical strength, and good insulating properties. Therefore, this product is also in high demand in the building & construction and automotive industries. In the near future, these factors are anticipated to drive the global foam plastics market. Additionally, growing development and industrial output capabilities have a significant effect on the market for foam plastics in packaging. Increase in exports of goods across borders has led to new revenue generation opportunities for foam plastics manufacturers as long-transit packaging needs to be exceptionally safe.

 

The global foam plastics market is segmented into type, application, and region. Depending on type, the market is divided into polyurethane, polystyrene, polyolefin, phenolic, and others. On the basis of application, it is differentiated into building & construction; packaging; automotive; furniture & bedding; footwear, sports, & recreational; and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

 

Major players operating in the global market include Alchemie Ltd., BASF SE, Covestro, Hexion Inc., Huntsman International LLC, Repsol, Sabic, the Dow Chemical Company, Total S.A., and Wanhua Chemical Group Co., Ltd.

KEY BENEFITS FOR STAKEHOLDERS

• The report provides in-depth analysis of the global foam plastics market along with the current trends and future estimations.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
• Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global foam plastics industry for strategy building.
• A comprehensive market analysis covers factors that drive and restrain the global foam plastics market growth.
• The qualitative data about market dynamics, trends, and developments is provided in the report

IMPACT OF COVID-19 ON THE GLOBAL FOAM PLASTICS MARKET

KEY MARKET SEGMENTS

KEY MARKET PLAYERS