Polyolefin Foam Market

Polyolefin Foam Market Research, 2031

The global polyolefin foam market was valued at $8.2 billion in 2021 and is projected to reach $13.4 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

The increase in building construction will increase polyolefin foam demand. According to the Construction Association of Nova Scotia, Canadian investment in building development climbed 2.7% between June 2022 and June 2021, while non-residential building construction increased by 1.4% between April 2022 and April 2022.

Polyolefin is a type of polymer derived from a simple olefin by polymerization. Polyolefin foams are environmentally friendly, lightweight, and multifunctional. Rolls and sheets are also made from polyolefin. Automotive, building & construction, packaging, furniture & bedding industries all utilize polyolefin foam. Numerous components are molded together to form polyolefin foams. Both the blowing agent and the cross-linking agent are typically organic. Together, these components make polyolefin foam. In a closed system, polyolefin foam is thermally degraded to create a gas. The fundamental characteristic of these things is that they are comprised almost completely of closed-cell foam.

In addition to being lightweight and flexible, they offer great thermal insulation, impact resistance, thermal resistance, and flame resistance. They are less difficult to cut, punch, and press mold than other materials and can be handled in a different way. Moreover, polyolefin foam has a vast variety of uses, including medicinal, automobile interior, and data storage. Insulation refers to technology, construction underlayment materials and air conditioning piping materials for packing or distribution, consumer goods, industrial insulation items, and recreational goods.

The market growth for polyolefin foams is projected to be impacted by the rapid expansion of key end-use application categories. In accordance with this, it is projected that the rise in income levels and current attitudes toward home ownership in a number of developing nations would function as significant growth drivers for the polyolefin foams market over the forecast period. In addition, the substantial expansion of the global construction industry and the increase in spending on commercial and luxury automobiles in emerging economies are anticipated to have a beneficial effect on the growth of the polyolefin foams market. Consequently, the investment will increase building construction activity, which will increase demand for polyolefin foam during the forecast period.

However, the global economic crisis brought on by the COVID-19 pandemic resulted in a global decline in demand for autos, electrical and electronic consumer goods, and other products, which had a substantial impact on the expansion of the polyolefin foam market. The greatest contributor to the expansion of the market is the increase in consumer expenditure on packaged goods.

However, restrictive laws and rising concerns about the environmental impact of small plastic beads will impede the growth rate of the polyolefin foam market. In addition, the increased awareness of the harmful impacts of plastic on the environment will hamper the expansion of the polyolefin foam market. The severe impact of COVID-19 on the supply chain and fluctuating raw material costs will act as market restraints and further restrict the growth rate of the polyolefin foam market. In addition, the increasing demand for CO2-based polyols and the rise in residential and commercial construction activities resulting from fast urbanization are anticipated to present numerous potential opportunities for the polyolefin foams market during the forecast period. Furthermore, increased R&D activities would create favorable opportunities for the market expansion of polyolefin foam. In addition, technological advancement, innovations, and untapped potential in emerging markets will create profitable potential growth for the market.

Depending on resin type, the market is segmented into polypropylene, polyethylene, and ethylene-vinyl acetate. On basis of the end-use industry, it is categorized into e automotive, packaging, construction, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global polyolefin foam market are Arkema, Armacell, BASF SE, Dow Inc, DuPont, Hanwha solutions, Huzhou Changyuan Tefa Co., Ltd., Intecfoams, Kaneka Corporation, NMC International SA, SABIC, Sekisui Chemicals Co, Toray Industries, Inc, TotalEnergies, Ultralon. Other players operating in the polyolefin foam s market are Zotefoams Plc, Furukawa Electric Co., Ltd, Ds Smith Plc, Sonoco Products Company, Recticel NV, Borealis AG, Trocellen GmbH, and JSP Corporation.

The polyolefin foam market is segmented into Resin Type and End-Use Industry.

The polyethylene segment accounted for the largest share i.e., 47.52%, because of growth in consumer goods & electronics, and packaging industries. The ethylene vinyl acetate segment is the fastest growing segment, growing around 5.5% CAGR over the forecasted period, this is because it is resistant to oils, chemicals, and water.

The packaging parts segment accounted for the largest share i.e., 40.16%, because of its heat insulation, and lightweight properties. The automotive segment is the fastest-growing segment, growing around 5.7% CAGR over the forecasted period. This is due to the rising demand for lightweight vehicles.

Asia-Pacific contributed 55.5% market share in 2021 and is projected to grow at a CAGR of 5.6% during the forecast period. Owing to the increased demand from the construction, automotive, and packaging industry.

IMPACT OF COVID-19 ON THE GLOBAL POLYOLEFIN FOAM MARKET

• The COVID-19 epidemic has halted the processing of raw materials used in the production of polyolefin foam.
• Asia's polyolefin foam production centers, which include Singapore, India, Thailand, China, and Japan, supply the majority of these raw materials.
• In addition, the developing coronavirus pandemic in Asia-Pacific has disrupted the availability of these essential elements.
• Due to a lack of raw materials, polyolefin foam product demand has been hampered. Private structures and construction sites, as well as government projects and the vehicle refinishing sector, will be severely damaged in April 2020.
• Since the release of the lockdown and other restrictions, the global polyolefin foam market is expected to experience exponential growth. The majority of the market's expansion can be attributed to growth in the construction, healthcare, and various chemical industries.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyolefin foam market analysis from 2021 to 2031 to identify the prevailing polyolefin foam market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the polyolefin foam market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global polyolefin foam market trends, key players, market segments, application areas, and market growth strategies.

 Polyolefin Foam Market Report Highlights