The industrial foam global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Foam Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial foam market size has grown strongly in recent years. It will grow from <b>$63.14 billion in 2023 to $68.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. </b> The growth in the historic period can be attributed to research and development, cost-effective material solutions, globalization and market expansion, transportation and aerospace, environmental concerns and sustainability.
The industrial foam market size is expected to see strong growth in the next few years. It will grow to <b>$91.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. </b> The growth in the forecast period can be attributed to construction industry growth, sustainable materials and eco-friendly solutions, rising automotive sector, packaging innovations, energy efficiency in buildings. Major trends in the forecast period include circular economy initiatives, furniture and bedding preferences, electronics and electrical applications, healthcare and medical innovations, stringent regulatory compliance.
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Scope Of Industrial Foam Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Foam Market Overview
Market Drivers –
Growing demand for energy-efficient and lightweight materials is expected to propel the industrial foam market. Lightweight materials are manufactured using lightweight raw materials that directly reduce the weight of the material while maintaining its performance. Industrial foam is a type of lightweight material made up of tiny cells filled with gas or air and used in applications such as insulation, packaging, and construction. For instance, in July 2021, according to a report released by EuroAccess, a France-based online information and search tool, the manufacturing costs of lightweight materials are 25% less than current materials. Lightweight products comprise more than 50% sustainable and bio-based components. The various properties of energy-efficient and lightweight materials, including sustainability and high performance, are increasing the demand for industrial foams by various industries. Therefore, the growing demand for energy-efficient and lightweight materials is driving the growth of the industrial foam market.
Market Trends –
Technological advancements are the key trends gaining popularity in the industrial foam market. Major companies operating in the market are focused on developing new technological solutions to lead the market. For instance, in May 2022, BASF SE, a Germany-based chemicals company introduced Elastoflex CE 3651/108, a 100% water-blown and high flame retardant polyurethane insulation spray foam based on a flame retardant technology to provide better interior air quality in public transportation. It is a low-odor spray foam system that optimizes the performance and cost of the final product.
The industrial foam market covered in this report is segmented –
1) By Foam Type: Flexible, Rigid
2) By Resin Type: Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, Other Resin Types
3) By End-Use: Building And Construction, HVAC, Industrial Pipe Insulation, Marine, Aerospace, Industrial Cold Storage, Others End-Uses
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Regional Insights –
Asia-Pacific was the largest region in the industrial foam market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the industrial foam market report are Covestro AG, BASF SE, Dow Inc., Huntsman Corporation, Sekisui Chemical Co. Ltd., Saint-Gobain S.A., Chemtura Corporation, Recticel N.V, Rogers Corporation, Trelleborg AB, FoamPartner Group, Eurofoam Group, Woodbridge Foam Corporation, Tosoh Corporation, Hanwha Chemical Corporation, ACH Foam Technologies LLC, Arkema, Mitsui Chemicals Inc., Toray Industries, Sealed Air Corporationfv, Zotefoams plc, Armacell International S.A., Future Foam Inc., FXI Inc., General Plastics Manufacturing Company, Graco Inc., Greiner Holding AG, INOAC Corporation, JSP Corporation, Kaneka Corporation
Table of Contents
1. Executive Summary
2. Industrial Foam Market Report Structure
3. Industrial Foam Market Trends And Strategies
4. Industrial Foam Market – Macro Economic Scenario
5. Global Industrial Foam Market Size and Growth
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31. Global Industrial Foam Market Competitive Benchmarking
32. Global Industrial Foam Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Foam Market
34. Industrial Foam Market Future Outlook and Potential Analysis
35. Appendix
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