The global Engineered Foam Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Engineered Foam market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Data Bridge Market Research analyses that the engineered foam market is expected to undergo a CAGR of 7.95% during the forecast period. This indicates that the market value, which was USD 83.70 billion in 2021, would rocket up to USD 154.35 billion by 2029.
Top Companies in the Global Engineered Foam Market:
UFP Technologies, Inc, (U.S.), FXI (U.S.), Trelleborg AB (publ) (Sweden), Armacell (Luxembourg), Sekisui Chemical Co., Ltd. (Japan), Future Foam (U.S.), Foamcraft (U.S.), BASF SE (Germany), Bayer Material Science (U.S.), Dow (U.S.), Huntsman International L.L.C (U.S.) Rogers Corporation (U.S.), Ube corporation (Japan), Recticel (Belgium), Zotefoams Plc (U.K.), The Woodbridge (Canada), Sekisui Alveo (Switzerland), Indoac corporation (Japan), covestro AG (Germany), among others.
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Market Segmentation:
The engineered foam market is segmented on the basis of type, form and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Polyurethane
- Polystyrene
- Polyolefin
- Polyvinyl Chloride
- Others
Form
- Flexible
- Rigid
- Spray
End-User
- Aerospace and Defence
- Medical and Healthcare
- Transportation
- Manufacturing and Construction
- Others
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Asia Pacific dominates the engineered foam market due to the considerable growth of the automotive sector in emerging economies such as India and China. Also, this region has increased demand for lightweight structures in the building and construction sector.
North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the presence of large number of automobile manufactures in these regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Market Dynamics
Drivers
- Growing demand in construction industry
Development in the construction industry has boosted the demand for engineered foam in last few years. This trend is also anticipated to continue during the forecast period because of rising demand of green buildings and growing energy conservation regulations overall the globe. Engineered foam aids in decreasing the cost of total infrastructural by reducing the energy consumption in buildings. The rising demand for engineered foam is expected to drive the market's growth rate.
- Rising demand in automotive sector
Growing use of flexible polyurethane in the automotive sector are expected to drive the growth rate of the engineered foam market during the forecast period. Flexible polyurethane is employed in cars for sound insulation and vibration dampening, increasing the demand for engineered foam in the automotive industry.
- Environmental initiatives for reducing the use of fossil fuel
New environmental initiatives that aim to reduce fossil fuel consumption and oil and gas as insulation components in the building and manufacturing industries have increased the demand for engineered foam, which is anticipated to fuel the growth of the global engineered foam market.
Furthermore, the rising demand for engineered foam due to its excellent property, increasing usages in construction as well as automobile industries and other industries from emerging economies are some of the major factors which are expected to accelerate engineered foam market during forecast period.
Opportunities
- Increase focus towards expansion
The major companies are mostly shifting their focus towards introducing new and innovative products and rising their production capacities into the engineered foam market to attain a competitive advantage. The products are developed in such a way that would help with the minimization of the use of fossil fuel.
- Rising demand for bio-based material
Rising demand of bio-based polyols for the production of engineered foam, serve significant cost-effectiveness and sustainability benefits over the conventional polyols. They also reduce the use of oil and petroleum-based raw materials. Bio-based polyols also have superior thermal stability than traditional polyols which will create beneficial opportunities for the market growth.
- Government initiatives and increased research activities
The extensive research and development activities by major market players in collaboration with government authorities are serving improve quality of engineered foam. Also, the technological advancements in production of engineered foam are profiting the end-users industries and create immense opportunities for market growth.
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