LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global polymer foam market is expected to reach USD 163.74 billion by 2021, growing at a CAGR of more than 8%.
“Polymer foams such as PU foams are affordable and durable and emit less carbon dioxide and other greenhouse gases that lead to global warming. The use of these foams in buildings helps in reducing heat loss during winter and keeping them cool during summer”
This research report titled ‘Global Polymer Foam Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends.
Polymer foam is extensively used in the transportation, building and construction, furniture and bedding, medical, and packaging industries. It possesses superior properties such as low density, flexibility, and heat transferability. Growth in end-user industries will primarily drive market growth during the forecast period.
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Technavio’s chemicals and materials analysts categorize the global polymer foam market into five major segments by the application. They are:
- Building and construction
- Furniture and bedding
The top three application segments for the global polymer foam market:
Global polymer foam market for packaging
Polymer foams are used in the packaging industry mainly because of their properties of low weight, surface protection, and thermal insulation. In the packaging industry, polymer foams are used in trays, sheets, protective bands, protecting packaging, and household items.
According to Swapnil Tejveer Sharma, a lead plastic, polymers, and elastomers research analyst from Technavio, “The demand for recyclable packaging is increasing. Currently, about 90% of manufactured foam is recovered for reuse. The growing demand for flexible foam in the packaging industry owing to its superior packaging properties will drive the market growth during the forecast period.”
Global polymer foam market for building and construction
Polymer foams are used in the building and construction industry mainly because of their properties of low thermal conductivity, vibration isolation, water-tightness, and anti-sound reflection. In the building and construction industry, polymer foams are used in parquet floor waterproofing, insulation boards for walls, floating floors, and insulation for ducts.
“Polymer foams such as PU foams are affordable and durable and emit less carbon dioxide and other greenhouse gases that lead to global warming. The use of these foams in buildings helps in reducing heat loss during winter and keeping them cool during summer,” says Swapnil.
Global polymer foam market for furniture and bedding
Polymer foams are used in cushions, pillows, textile coatings of clothing and furniture, and upholstered furniture. It is also used for insulation of pipes, reservoirs, cooling and heating techniques; sound and heat insulation; and manufacturing items for scenography, theater, and TV programs.
Polymer foams are also used in carpets to increase the life span of the carpets and the comfort provided by them. Polymer foams, when used in carpets, provide the desired feel underfoot without making the carpets excessively thick. Carpets containing polymer foams are used for both residential and commercial purposes and help in reducing noise by almost 50%. These carpets also provide thermal insulation, are easy to maintain, and are also recyclable.
The top vendors highlighted by Technavio’s research analysts in this report are:
- The Dow Chemical Company
- Rogers Communications
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- Global Medical Polymers Market 2017-2021
- Global Biodegradable Polymers Market 2017-2021
- Global Electroactive Polymers Market 2017-2021
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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