[FURL=https://www.industryarc.com/Report/11663/polymer-foam-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=Paidpressrelease]Polymer Foam Market[/FURL] size is forecast to reach around $ 120.2 billion by 2025, after growing at a CAGR of 4.5% during 2020-2025. Polymer foams are usually formulated by combining the two segments in a speed. The resultant foam has polymer matrix either in air bubbles or air tunnels form, which is usually known as closed-cell or open-cell structure. Closed-cell polymer foam is more rigid in nature as compared to open-cell polymer. Whereas, Polymer foam is attaining enormous growth owing to the growing demand of applications such as packaging, construction, automotive, aerospace, wind energy, pharmaceuticals, personal care and others. Furthermore, surging demand for PU foam in renovation activities of the construction sector, expanding automotive sector, improved public infrastructure, and construction sectors to boost the market growth.Key Takeaways
In the European region, Germany is the major market for the Polymer Foam owing to presence of major automobile companies and production facilities and growing demand for auto parts and packaging materials to boost the demand.
Government investments for modernizing and expanding infrastructure is fueling the growth of the Polymer Foams market.
Evolution of the natural and environment-friendly Polymer Foams is driving the growth. As, polymer foam offers high recyclability, reduced wastage, and greater sustainability.
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Polymer Foam Market Drivers
Rising demand of Polymer Foam across various end-use industries
The use of polymer foams-based products offers various benefits like lightweight and versatile, resistant to corrosion, highly durable, mildew resistant, and recyclable. The properties of polymer foams make them suitable to user for various end-use industries such as building and construction, food and beverage, automotive, medical, and marine industries.
Polymer Foam Market Challenges
Emergence of COVID-19 the Pandemic
The worldwide crisis of COVID-19 is leading to calls for action from a wide range of stakeholders including manufacturers, vendors, distributors, and consumers. Decline in business during 2020 coupled with lower demand from a major market has put pressure on the profitability of polymer foam manufacturers and vendors. The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. According to International Monetary Fund, the global GDP is expected to decline by 0.3% in 2020.
Polymer Foam market top 10 companies are Huntsman International LLC, and SABIC, Sekisui Alveo AG, Simona America Inc., Synthos S.A., Toray Industries, Inc., BASF SE, Rogers Corporation, The Dow Chemical Company, Recticel NV/SA, Sealed Air Corporation, and Tosoh Corporation
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