The Technical Foam Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Technical Foam Global Market Report 2024, The technical foam market size has grown strongly in recent years. It will grow from $34.14 billion in 2023 to $36.7 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to construction sector growth, electronics and gadgets, aerospace industry utilization, consumer goods, manufacturing advancements..
The technical foam market size is expected to see strong growth in the next few years. It will grow to $48.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to customization and personalization, supply chain optimization, adoption of recyclable materials, r&d investments, urbanization and infrastructure needs.. Major trends in the forecast period include innovation in material science, technological advancements, collaborations..
An increase in demand for automobiles is expected to propel the growth of the technical foam market going forward. An automobile is a passenger vehicle built for use on roadways with four-wheel drive and a gasoline or diesel internal-combustion engine. Automotive foams provide cushioning and sound management and are used in windscreens, instrument panels, door panels, and headliners. As a result, the increasing demand for automobiles increases the demand for the technical foam market. For instance, according to the May 2022 publication of the ‘Global EV Outlook 2022’ report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increase in demand for automobiles is driving the growth of the technical foam market.
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The technical foam market covered in this report is segmented –
1) By Product Form: Flexible, Rigid, Spray
2) By Material Type: Expanded Foam, Polyethylene, Elastomeric, Polyurethane, Melamine, Phenolic, Ethyl Vinyl Acetate, Other Material Types
3) By End Users: Automotive and Transportation, Electrical and Electronics, Building and Contruction, Medical, Sporting equipment, Packing, Other End Users
Top Major Players:
Armacell International Holding
BASF SE
Woodbridge Company Ltd.
Dow Inc.
Sekisui Chemical Co. Ltd
Asia-Pacific was the largest region in the technical foam market in 2023.
Technological advancements are a key trend gaining popularity in the technical foam market. Major companies operating in the technical foam market are focused on developing new technological solutions to strengthen their position in the market. For instance, in January 2021, SABIC, a Saudi Arabia-based company operating in technical foam, launched the LNP COLORCOMP WQ117945 compound, a breakthrough material based on advanced nanotechnology. This compound facilitates the efficient production of polyethylene terephthalate (PET) foams for core materials in sandwich structures that improve control over nucleation and cell growth and shear strength or strain properties for better fatigue performance. These foams address the evolving needs of various industries, such as building and construction, wind energy, marine, and packaging.
The technical foam market report table of contents includes:
1. Executive Summary
2. Technical Foam Market Characteristics
3. Technical Foam Market Trends And Strategies
4. Technical Foam Market – Macro Economic Scenario
5. Global Technical Foam Market Size and Growth
……
31. Global Technical Foam Market Competitive Benchmarking
32. Global Technical Foam Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Technical Foam Market
34.Technical Foam Market Future Outlook and Potential Analysis
35. Appendix
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