Technical Foam Market Report

Technical Foam Market Insights

Technical Foam Market is likely to witness an impressive CAGR of 11.5% during the forecast period. Increasing demand for technical foam from the automotive & transportation industry and the growing demand for acoustic solutions to deal with noise pollution are the major factors fueling the growth of the technical foam market during the forecast period.

Market Share Analysis

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Technical Foam Market Share: By Form Type

Based on the form type, the market is segmented as flexible foam, rigid foam, and spray foam. Flexible foam is expected to be the largest segment of the market during the forecast period, owing to its suitableness for the production of automotive seat cushioning, office equipment, and furniture for comfort and support. These foams are less expensive as compared to spray and rigid foam, and they also offer absorbing capacity due to which, they are preferably used in the packaging of electrical devices and medical wipes & swabs, driving the growth of the market.

Technical Foam Market Share: By Material Type

Based on the material type, the technical foam market is segmented as polyurethane, elastomeric, polyethylene, expanded foam, and others. The polyurethane segment held the largest share of the market in the year 2019, owing to its favorable properties such as low weight, absorption of sound, heat preservation, and excellent cushioning. Technical polyurethane foams are primarily used in the automotive & transportation and commercial building segments. As compared to other materials, these foams are highly used due to their low heat conduction coefficient, low density, relatively good mechanical strength, low water absorption, and insulating properties.

Technical Foam Market Share: By End-Use type

Based on the end-use type, the market is segmented as automotive & transportation, commercial buildings, electrical & electronics, office equipment, medical, and others. The automotive & transportation segment is estimated to account for the largest share of the market over the forecast period. Technical foams are of low weight and durable for high-temperature insulating solutions, and offer various properties such as heat & fire resistance, noise dampening for boats & ships, and these foams also provide comfort, and acoustic and fire insulation. The major factors fueling the growth of the automotive & transportation end use of technical foam are the increase in demand for better vehicle operational and environmental efficiency, control of temperature, excellent dielectric insulation qualities, and thermal conductivity of various materials, which make the technical foam best suited for a wide range of specialist applications of the automotive industry.

Technical Foam Market Share: By Region

In terms of regions, Asia-Pacific is expected to be the largest as well as the fastest-growing market for technical foams during the forecast period, with China being the center of attraction for major consumers of technical foams in APAC. Factors such as the industrial development and improving economic conditions in the region are driving the growth of the market in APAC.  Furthermore, to establish the presence in the region, various foreign players are adopting inorganic growth strategies, which in turn, is estimated to trigger further growth opportunities to the Asia-Pacific’s technical foam market during the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

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Some of the key players in the technical foam market are-

• BASF SE, DOW INC.
• FOAMPARTNER GROUP
• FXI HOLDINGS, INC.
• HUNTSMAN CORPORATION
• INOAC CORPORATION
• RECTICEL
• SEKISUI CHEMICAL CO., LTD.
• TRELLEBORG AB
• UFP TECHNOLOGIES, INC.

Market Scope & Segmentation

Technical foams offer excellent properties such as resistance from heat & fire, noise dampening, and provide ease and acoustic and fire insulation. These foams are of different types such as flexible, rigid, and spray foams, and are used in various end-use sectors such as automotive & transportation, commercial buildings, medical, office equipment, and others.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The technical foam market is segmented into the following categories. 

Technical Foam Market Size, Share, & Forecast, by Form Type:

• Flexible Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Rigid Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Spray Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Technical Foam Market Size, Share, & Forecast, by Material Type:

• Polyurethane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Elastomeric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyethylene (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Expanded Foam (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Technical Foam Market Size, Share, & Forecast, by End-Use Type:

• Automotive & Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Commercial Buildings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Office Equipment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Medical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Technical Foam Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the form types by end-use type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.