Kenneth Research recently added a report on ‘Polymer Foam Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Polymer Foam Market products.
Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The growing usage of polymer foam in construction and building applications is fostering the market growth of polymer foam. The companies are indulged in R&D activities to innovate and develop new products, which can open new paths of applications.
The polymer foam market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights
The increasing awareness across the globe, especially developed regions along with increasing demand from end user industries is accelarating the growth of polymer foam. On the other hand, growing economies and increasing per capita income along with technological innovations to bring down the prices are making polymer foam more affordable & efficient. The increased innovation and R&D is helping in expansion of polymer foam application areas providing additional growth opportunities to the market.
Increasing demand for polymer foam from the automotive, packaging, and building and construction industries is driving the polymer foam market globally. Asia Pacific is dominating the market of polymer foam during the forecast period, followed by North America and Europe. Polymer foam is used in various applications. The growth of the end-user industries is likely to drive the growth of the polymer foam market during the forecast period. The companies working in the manufacturing of polymer foam are actively participating to increase their product ranges along with improvements in supply networks and thus enhancing their positions in the polymer foam market.
Few of the prominent companies operating in the polymer foam market are BASF, LANXESS, Huntsman, DowDuPont and SABIC. Some of the major customers are FIAT, UFP Technologies, VINCI, Volkswagen Group, and Sika AG.
o Building and Construction
o Furniture and Bedding
o Asia Pacific
o North America
o Rest of the World
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