Polymer Foams Market Size, Share, and Trends 2024 to 2034

Polymer Foams Market Size and Forecast 2024 to 2034

The global polymer foams market size accounted for USD 150.93 billion in 2024 and is expected to be worth around USD 270.30 billion by 2034, at a CAGR of 6% from 2024 to 2034.

Polymer Foams Market Key Takeaways

• Asia Pacific led the global market with the highest market share of 36% in 2023.
• By Type, the polyurethane segment held the largest market share in 2023.
• By application, the construction segment captured the biggest revenue share in 2020232.

Asia Pacific Polymer Foams Market Size and Growth 2024 to 2034

The Asia Pacific polymer foams market size was estimated at USD 51.26 billion in 2023 and is predicted to be worth around USD 97.31 billion by 2034, at a CAGR of 6.2% from 2024 to 2034.

The research report offers key drifts and prospects of polymer foams products across diverse geographical regions such as North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa.

Asia Pacific described biggest share of total revenue generated by market in 2023 on account of huge demand in packaging and construction sectors. The developing economies in Asia Pacific are obtaining numerous foreign equipment; therefore, refining the production competence. Furthermore, industry participants implemented numerous business expansion policies, which further enhanced the complete production capacity in this region. One of the prevalent applications of polyolefin foams is in the construction sector. These foams are perceiving a larger level of reception in the construction and buildings industries along with the aerospace sector. This influence is the utmost contributor to the growth of polymer foam market in the Asia Pacific as developing countries from this region are undergoing speedy growth in infrastructure creation and construction activities.

Market Overview

Polymer foam is a vital polymer material also recognized as a porous polymer material. It has polymer matrix that comprises a large number of tiny foam holes within. In comparison with bulky polymer materials, polymer foam offers several advantages including good heat insulation, low density, good sound insulation effects, good resistance to corrosion and high specific strength. Currently, polymer foam is one of the most extensively employed polymer materials and plays a very significant part in the polymer sector. Polymer foams are extensively utilized in construction, packaging, footwear, furniture & bedding, automotive, sports & recreational sectors.

However, during COVID-19 pandemic, decline in per capita income led to inferior demand for several electronics products, recreational and sports equipment; therefore, negatively affecting the growth of the polymer foam market. Additionally, on account of prolonged lockdown, huge number of construction ventures is on delayed for few months period. Such fluctuations negatively affected the demand of polymer foams for numerous insulation applications.

Polymer Foams Market Growth Factors

• Momentous rise in demand for numerous polymer foam in construction, furniture and automotive applications are expected to drive the polymer foam market growth.
• Growing applications in various industries, such as packaging, furniture and bedding, and automotive industries, are expected to drive the type demand.
• Huge adoption of polymer foam in industrial sector of Asian countries
• Sustainability of the energy as well as conservation across the world

Market Scope

Type Insights

In 2023, polyurethane foam conquered the global polymer foam market in terms of revenue and is anticipated to uphold its governance during the estimate period. This type of foam is employed in numerous applications such as cushions, furniture, and carpets. Expanded polystyrene foam is lightest materials and due to its high strength to weight ratio, it finds application for packaging because it offers in less fuel consumption and transport price saving.

Application Insights

Polymer foams find widespread usage in the construction sector for pipe-in-pipe, forging, doors, roof board, and slabs. It has small heat conduction coefficient, less density, moderately good mechanical strength, low water absorption, and good insulating characteristics that are useful in the construction industry. However, COVID-19 pandemic has impacted many end-use sectors, and almost all segments of the supply chain endure to be pretentious that also involve the construction sector.

Polymer Foam Market Companies

• Kaneka Corporation
• BASF SE
• Dow Inc
• Recticel
• Huntsman Corporation
• Rogers Corporation
• Covestro AG
• Sealed Air Corporation
• Others

Recent Developments

• In 2018, The Dow Chemical Company announced start of new facility of rigid PU in Thailand, which is raw material of polymer foam. This development is anticipated offers advanced solutions and will raise the capacity of the company.
• In 2019, BASF has expanded its research and development campus at Shanghai and developed its regional capacity. This is in order to cooperate with the automotive industries and to strengthen the position in the target market.

Major Market Segments Covered

By Type

• Polyurethane (PU)
• Polyethylene (PE)
• Polypropylene (PP)
• Ethylene-Vinyl Acetate (EVA)
• Others

By Application

• Furniture and Bedding
• Transportation
• Packaging
• Construction
• Others

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa