How Has The Industrial Foam Market Size Evolved In Recent Years?
The industrial foam market has seen considerable growth due to a variety of factors.
• The dimension of the industrial foam market has significantly expanded over recent years. It is projected to escalate from $67.61 billion in 2024 to $72.66 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.5%. The historical growth pattern may be linked to factors like research and development, cost-effective material solutions, globalization and market growth, involvement in transport and aerospace sectors, and environmental considerations and sustainability.
What Is The Forecast For The Industrial Foam Market?
The Industrial Foam market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of industrial foam is forecasted to significantly expand, reaching $100.14 billion in 2029 with a compound annual growth rate (CAGR) of 8.4%.
This growth projection for the specified period can be traced back to elements like expanding construction industry, adoption of sustainable materials and eco-friendly solutions, booming automotive industry, innovative packaging, and improved energy efficiency in structures. The main trends outlined for the forecast period encompass initiatives related to a circular economy, shifting preferences in furniture and bedding, applications in electronics and electricity, innovations in healthcare and medical sector, and rigorous regulatory compliance requirements.
What Are The Essential Drivers Behind The Growth Of The Industrial Foam Market?
The surge in urbanization is set to drive the industrial foam market. This phenomenon has been characterized by the influx of people from rural areas into cities, culminating in city expansion and advancement. Industrial foam is integral in the transformation as it finds multiple construction uses, including insulation, soundproofing, sealing, and providing a cushioning effect. The foam boosts energy efficiency within buildings, aids noise reduction in city settings, and is utilized in developmental projects such as roads and bridges, offering void filling and firm support. The World Bank, a US-based global financial organization revealed in an article in October 2022 that in that year alone, over half the world's human population dwelled in urban areas. Predictions for 2045 indicate that the urban populace across the globe will expand by one and a half times, hitting the 6 billion mark. As such, the swift urbanization rate is fuelling the growth of the industrial foam market.
How Is The Global Industrial Foam Market Divided Into Key Segments?
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
Subsegments:
1) By Flexible: Polyurethane Foam, Polyethylene Foam, Latex Foam
2) By Rigid: Polyurethane Rigid Foam, Polystyrene Foam (EPS And XPS), Phenolic Foam
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What Trends Are Reshaping The Future Of The Industrial Foam Market?
The industrial foam market is seeing a surge in popularity due to advancements in technology. To secure a leading position in the market, the major businesses are focusing on the creation of new technological solutions. For instance, BASF SE, a chemical company based in Germany, launched Elastoflex CE 3651/108 in May 2022. This is a completely water-blown, high flame-retardant polyurethane insulation spray foam. This foam, based on flame-retardant technology, seeks to improve indoor air quality in public transport. Moreover, this low-odor spray foam system enhances the efficiency and reduces the cost of the end product.
Who Are the Key Players In The Industrial Foam Market?
Major companies operating in the industrial foam market include:
• Covestro AG
• BASF SE
• Dow Inc.
• Huntsman Corporation
• Sekisui Chemical Co. Ltd.
• Saint-Gobain S.A.
• 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
• Greiner Holding AG
• INOAC Corporation
• JSP Corporation
• Kaneka Corporation
What Are The Regional Insights Into The Industrial Foam Market?
Asia-Pacific was the largest region in the industrial foam market in 2024. 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.
