Produced by filling polymer, ceramic, or metal with inorganic pre-formed spheres known as ‘micro balloons,’ synthetic foam materials have extremely high tensile strength. Products in the global synthetic foam market can be used as potent substitutes to standard building block materials such as PVCs, metals, plastics, along with other foams. Application areas for the products in global synthetic foam market include military and defense, automotive industry, aerospace industry, sports and leisure industries, and marine industries. Lightweight nature, buoyant behavior, and excellent acoustic properties of synthetic foam is triggering increased demand from various end-use industries in global synthetic foam market.
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Rising utilization of synthetic foam materials for various applications in automotive industries is fueling the demand in global synthetic foam market. These materials are used in automotive industry primarily for the production of components required for automotive parts, various vehicle related accessories, and automobile interiors. Increase in deep water activities such as underwater robotics and insulation and floatation of oil and gas pipelines is creating tremendous opportunities in global synthetic foam market for marine industries. Synthetic foam materials display excellent flexibility and low coefficient thermal expansion which makes products in global synthetic foam market a great commodity for under water activities. However, brittle and stiff nature of synthetic foams make them prone to damages if exposed to heavy strains for a long time. This, along with rise in the prices of crude oil, which is causing delays in oil and gas projects can restrict the growth of the global synthetic foam market in coming years.
Increasing demand from marine and subsea industries to undertake deep and ultra-deep water activities is boosting the regional synthetic foam market in North America. Rising demand from military and defense industries in countries like India and Japan is anticipated to create lucrative opportunities for players in Asia Pacific synthetic foam market in coming years. Key players operating within the global synthetic foam market include Alseamar Corporation, CMT Materials, Philpac Corporation, BASF SE Corporation, Sekisui Chemical Corporation, and Huntsman International, LLC.
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