Global Engineered Foam Market: Snapshot
Engineered foam is a type of lightweight plastic that finds extensive usage in a wide range of end-use application. It is used in the manufacturing of waterproofing gaskets and shock absorption. In applications pertaining to sports and leisure activities, engineered foam is used in parts that require cushioning and lightweight impact such as flotation devices, helmet paddings, and wrestling mats.
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Solid and gaseous phases are combined at a brisk pace to obtain a mixture that has a polymer matrix with pores. The number of pores present in the foam influences its properties. The greater the number of smaller pores, the higher will be the insulating power of the foam. Open cell structure has the capability of better compression and sound absorption. There are basically three types of foams – rigid foam, spray foam, and flexible foam. Of these, flexible foams are used in cushioning and filtration, rigid foams are used in architectural and decorative applications and insulation; spray foams are used in packaging, roofing, floatation, air barriers, and insulation.
The global engineered foam market is likely to tread along a notable growth track. However, the rising costs of raw materials are impeding the upward climb of the market. Moreover, the presence of a large number of local and regional players in the market is exerting high pricing pressure on international players. This is, in turn, negatively impacting the overall revenue generation of the market. On the other hand, the introduction and production of bio-based polyols are likely to open new avenues for the players in the global engineered foam market.
Global Engineered Foam Market: Overview
Engineered foam is a lightweight plastic that finds applications in a gamut of areas such as energy, automotive, wind energy, packaging, and construction sectors, among others. It is also used in the manufacture of shock absorption and waterproofing gaskets. In the domain of sports, engineered foam is used to join parts that need cushioning impact, in helmet paddings, wrestling mats, and flotation devices.
The global market for engineered foam can be segmented on the basis of end-use applications into aerospace and defense, transportation, manufacturing and construction, medical and healthcare, etc. Depending upon form, it can be categorized into spray foam, flexible foam, and rigid foam. Among them, flexible foam dominates the market with a leading share. Going forward, however, the spray foam segment would expand at maximum pace. Based on raw materials again, the market can be further divided into polyurethane, polyvinyl chloride, polystyrene, polyolefin, etc. Polyurethane, among them, leads the market on account of being a versatile construction material.
A report by TMR Research conveys essential information on the global engineered foam market after studying the opportunities and prevalent trends in it. It sheds light on the current market size and assesses the present vendor landscape. It not just profiles the leading players operating in the market, but also highlights their strengths and weaknesses. Leveraging market-leading analytical tools, the report examines the threats and opportunities awaiting players in the market.
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Global Engineered Foam Market: Trends and Opportunities
Driving growth in the global market for engineered foam is the increasing thrust and investment in space research activities and the expansion of the airline industry in the emerging economies across Latin America, Asia Pacific, and the Middle East and Africa. Swift evolution of end-use industries coupled with their short product life cycles is another major factor slated to boost the market in the near future. Further, a burgeoning construction, automotive, and sports and leisure industry is also predicted to drive growth.
A key trend seen in the global market for engineered foam is the soaring popularity of spray foams in coating applications for quick repairs in existing insulations and cushioning. This is because, spray foams, unlike the other types of foams, is ready to use and does not entail extra molding cost which may be required for flexible and rigid foams. This has brought about a rise in its applications in insulation such as light-density open-cell spray foam insulation and medium-density closed-cell spray foam insulation.
Another noticeable trend in the global engineered foam market is the robust use of the raw material polyurethane which can be shaped into strong elastomers or rigid plastics. Because of its unique physical characteristics, polyurethane foam is gradually supplanting traditional plastic components and metals. Such foams find application in a range of end-use industries such as aerospace and defense, medical and healthcare, transportation, and manufacturing and construction, among others.
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Global Engineered Foam Market: Regional Outlook
Based on geography, the key segments of the global engineered foam market are Europe, North America, Asia Pacific, and the Rest of the World. Asia Pacific, among them, is forecasted to outshine all other regions in terms of growth on account of the proliferation of manufacturing activities for domestic consumption and for exports as well.
Companies Mentioned in Report
Some of the major participants operating in the global market for engineered foam that have been listed in the report are the DoW Chemical Company, Bayer AG, Sekisui Chemical Ltd., Huntsman Corporation, Inoac Corporation, Armacell GmbH, Foamcraft Inc., FoamPartner Group, Future Foam Inc., and Rogers Corporation.