The global structural foam market was valued at USD 28.57 billion in 2018. The rapid development of the building & design sector is considered to be a key factor driving growth in the market. Moreover, the rise in sales of products for key applications such as automobile, building, consumer electronics and material handling, in the countries such as India, Brazil, Russia, South Africa, and China is expected to drive the structural foam market over the forecast period.
The global structural foam industry is progressing a higher rate, and shall further continue in the coming years. This rise is anticipated mainly by the increasingly growing demand in the Asia-Pacific and Rest of World. Structural foams are considerably lighter in weight than the other types of rigid plastics and shows a greater ratio of weight to strength. These are used to provide longevity, heat resistance, conductivity, and strength in various applications, including columns, wind turbines, building roof insulation, vehicle parts, doors, etc.
The global structural foam market is categorized based on product, and application. Region wise, North America was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. Asia Pacific is also expected to grow at a highest rate over the coming years.
Key players serving the global structural foam market include Armacell International S.A., Diab International AB, Evonik Industries, Covestro AG, Gurit Holding AG among others.
Key segments of the global structural foam market
Product Overview, 2015-2025 (USD Billion)
Application Overview, 2015-2025 (USD Billion)
- Material Handling
- Building & Construction
- Electrical & Electronics
Regional Overview, 2015-2025 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give a comprehensive outlook of the global Structural foam market industry
- Structural foams are widely used for various applications owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing building and construction activities, there is a rise in the demand for structural foams which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global structural foam market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of applications, and type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Structural foam market is suitable for all the players across the value chain including raw material suppliers, structural foam providers, construction, transportation, packaging end users, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global Structural foam market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global structural foam market
The global structural market has seen strong development over the past couple of years with its end-business, and is anticipated to continue in the coming years. The main driving factor for the global structural market would be a rise in demand for foam in various end-industries such as material handling, construction, automotive, electronics and others.
However, the constraining factors in the market are growing preference for biobased plastics as a durable substitute to non-biodegradable foam and the fluctuating prices of raw materials. In comparison, major corporations have formed sourcing relationships and shown higher forward and backward convergence across the value chain. However, they do need to address obstacles such as rising gasoline costs, facing pressure from other local manufacturing firms and delivering top quality goods at reasonable rates.
The extensive use of foams in the material handling equipment used for the short-distance transport of products inside the manufacturing plant and in other packaging applications is projected to drive the market over the coming years. The increased usage of the product in shipbuilding, consumer products, and wind power is projected to promote the development in other segments.
The global structural foam market has been segmented based on applications, and products. Based on products, the market is categorized into polyethylene, polypropylene, polystyrene, polyurethane, and others. Based on applications, the market is categorized into material handling, building & construction, automotive, electrical & electronics, and others.
Rigid polyurethane is used as a construction material and the product is projected to emerge as the fastest growing segment in terms of volume by 2025. The products have superior properties including lightweight, hardness, and strength. The substance is immune to a variety of contaminants and humidity allowing it to be ideal for use at various temperatures. They are likely to rise at a faster pace, particularly in Asia Pacific and Latin America, because of their large-scale utilization in the construction segment.
The global structural foam market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global structural foam market in 2018, however Asia Pacific is expected to grow at a highest pace through the year 2025.
In 2018, North America emerged as the largest region in the global structural foam industry. Growing usage of lightweight materials in building and manufacturing, wind turbines, is projected to push the industry to a significant growth over the coming years. Europe, also accounted for a significant share of overall demand in the structural foam market. The availability of innovative building & construction materials combined with the favorable laws in the region has contributed to growth in the market.