The global technical foam market reached a value of US$ 29.3 billion in 2021. Looking forward, the market is projected to reach a value of US$ 40.4 billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
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.
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.
This report provides an analysis of the key trends in each sub-segment of the global technical foam market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product form, material and End-use industry.
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
This report provides an analysis of the key trends in each sub-segment of the global technical foam market, along with forecasts at the global, regional and country level from 2022-2027. The 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 plcKey Questions Answered in This Report
- How has the global technical foam market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global technical foam market?
- What are the key regional markets?
- What is the breakup of the market based on the product form?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the End-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global technical foam market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Technical Foam Market
What is the estimated value of the Global Technical Foam Market?
What is the growth rate of the Global Technical Foam Market?
What is the forecasted size of the Global Technical Foam Market?
Who are the key companies in the Global Technical Foam Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 29.3 Billion |
| Forecasted Market Value ( USD | $ 40.4 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Technical Foam Market
6 Market Breakup by Product Form
7 Market Breakup by Material
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- Zotefoams Plc
Methodology
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