What Fueled The Previous Growth In The Technical Foam Market?
The technical foam market has seen considerable growth due to a variety of factors.
• The market size of technical foam has seen robust growth in the past few years. The market is predicted to surge from $36.46 billion in 2024 to $39.07 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.2%. This rise during the historical period can be credited to the expansion in the construction industry, use in electronics and gadgets, applications in the aerospace area, consumer products, and advancements in manufacturing.
What Can Be Expected from the Technical Foam Market?
The Technical Foam market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the technical foam market is projected to witness considerable growth, surging to a size of $53.31 billion in 2029 with a compound annual growth rate (CAGR) of 8.1%.
This growth during the forecast period is likely due to factors such as customization and personalization, optimization of supply chains, the use of recyclable materials, investment in research and development, and the demands of urbanization and infrastructure. Key trends for this forecast period encompass material science innovations, technological advancements, and collaborations.
What Are the Critical Driver Fuelling The Technical Foam Market's Growth?
The technical foam market is predicted to expand due to the growing demand for cars. Cars are passenger vehicles made for road use, equipped with four-wheel drive and fueled by either petrol or diesel engines. Technical foam, used for cushioning and sound dampening in windshields, dashboard panels, door panels, and interior roof liners, is an important component in automobile manufacturing. Thus, as car demand increases so does demand for technical foam. For example, data from the UK government department, GOV.UK in May 2024 reported that by the end of December 2023, the UK had seen a 1% rise in licensed vehicles to 41.2 million, including a notable 47% increase in licensed zero-emission vehicles, reaching 1,015,000 units. Out of these, 931,000 were zero-emission cars, reflecting a 48% increase. This escalating demand for cars, therefore, fuels the growth of the technical foam market.
How Is The Technical Foam Market segmented?
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 Construction, Medical, Sporting Equipment, Packing, Other End Users
Subsegments:
1) By Flexible: Polyurethane Foam, Polyethylene Foam, Ethylene-vinyl Acetate (EVA) Foam
2) By Rigid: Polyurethane Rigid Foam, Polystyrene Foam, Phenolic Foam
3) By Spray: Closed-Cell Spray Foam, Open-Cell Spray Foam, Insulation Spray Foam
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What New Trends Are Influencing The Technical Foam Market?
The key players in the technical foam industry are concentrating their efforts on creating innovative solutions including water foam technology to increase performance efficiency, lower environmental footprint, and cater to the changing needs of diverse industries. Water foam technology employs water as a key ingredient to fabricate foam, thereby cutting down the usage of detrimental chemicals and solvents. To illustrate, in July 2023, CET Group Co. Ltd., a China-based company in the OA sector, unveiled a pioneering water foam technology for lower fuser rollers. This presented a sponge-like design with a more refined molecular structure that surpasses the performance of traditional silicone rollers. The newly introduced roller offers a NIP width of 15mm, which is 7mm more than the standard rollers, hence enhancing efficiency and the area of contact. This revolutionary technology facilitates swift absorption and discharge of energy, refining the fusing process while also curtailing energy usage.
Who Are the Key Players In The Technical Foam Market?
Major companies operating in the technical foam market include:
• Armacell International Holding
• BASF SE
• Woodbridge Company Ltd.
• Dow Inc.
• Sekisui Chemical Co. Ltd.
• Recticel NV
• UFP Technologies Inc.
• INOAC Corporation
• Kaneka Corporation
• Saudi Basic Industries Corporation
• Sealed Air Corporation
• Zotefoams PLC
• Lanxess AG
• Foampartner Group
• MH Polymers Private Limited
• Covestro AG
• Furukawa Electric Co. Ltd.
• Huntsman Corporation
• Trelleborg AB
• Rogers Corporation
• Wanhua Chemical Group Co. Ltd.
• Synthos S.A.
• Versalis S.p.A.
• Nova Chemicals Corporation
• Foam Products Corporation
What Is The Most Dominant Region In The Technical Foam Market?
Asia-Pacific was the largest region in the technical foam market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the technical foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
