Technical Foam Market Scope
Technical foam is widely used for automotive applications such as car seats and interiors. It possesses properties such as excellent cushioning and minor impact absorbance which has given the space to manufacturers to leverage technical foam for automotive manufacturing. Moreover, the increase in sales of vehicles across the globe has exponentially increased the demand for technical foams. Also, its utilization in industries such as electronics, chemicals, and others, is rapidly growing owing to its low water absorption, low density, and high mechanical strength, and insulating properties. Rapid industrialization will pave the way for the increased demand for technical foams over the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF SE (Germany), DowDuPont, Inc. (United States), Huntsman International LLC (United States), Sekisui Chemical Co., Ltd (Japan), Armacell International S.A. (Germany), LANXESS AG (Germany), Trelleborg AB (Sweden), INOAC Corporation (Japan), UFP Technologies, Inc. (US), Wanhua Chemical Group Co., Ltd. (China) and Recticel NV (Belgium) |
CAGR | % |
The global technical foam market is highly fragmented in nature owing to the presence of numerous international players. Key players in the market are focusing on geographical expansions through mergers & acquisitions and partnerships. These players' aim is to provide a range of technical foam suited for different automotive, construction, and industrial purposes. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Technical Foam market throughout the predicted period.
BASF SE (Germany), DowDuPont, Inc. (United States), Huntsman International LLC (United States), Sekisui Chemical Co., Ltd (Japan), Armacell International S.A. (Germany), LANXESS AG (Germany), Trelleborg AB (Sweden), INOAC Corporation (Japan), UFP Technologies, Inc. (US), Wanhua Chemical Group Co., Ltd. (China) and Recticel NV (Belgium) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Rogers Corporation (United States), Sealed Air Corporation (United States), Woodbridge Foam Corporation (Canada), Foampartner Group (Switzerland) and Polymer Technologies, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Technical Foam market by Type , by Application (Acoustic Foam, Automotive, Medical, Consumer Products, Insulation, Packaging and Others) and Region with country level break-up.
On the basis of geography, the market of Technical Foam has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In February 2020, Huntsman Corporation has announced the acquisition of Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications.
In December 2019, BASF SE expanded its range of melamine resin foam, Basotect, by developing and improving emission properties in the new grade Basotect UF+. It is suitable for the insulation of rail vehicles and for heating, ventilation, and air conditioning (HVAC) in buildings. and In October 2018, Recticel NV/SA had set up its first foam converting plant in Tangier, Morocco, with an investment of USD 1.2 million. This new Tangier plant specializes in manufacturing specific technical foams for the automotive market, which strengthens the company’s position in the automotive sector.
The rules and regulations for manufacturing and distributing technical foams are given by a variety of National and International Standards such as BSI (British Standards Institute), DIN, ISO, BIS, and ASTM (American Society for Testing and Materials).
Technical Foam Market Dynamics:
Attributes | Details |
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Trends Influencing Market | - Development of Bio Based Foam Solutions
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Key Restraints | - Volatility in Raw Material Prices
- Stringent Government Regulations for Manufacturing and Supplying of Polymer Foam
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Challenges | - High Pricing Pressure and Competition in the Market
- Health Risks Associated With the Use of Spray Foam
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Market Opportunities | - Growing Demand of Automobiles across the Globe
- Rising Opportunity in Developing Countries owing to High Consumer Expenditure
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Key Target Audience
Technical Foam Manufacturers, Raw Material Suppliers, Traders and Distributors, Research and Development Institutes, End-Use Industries and Others