The rigid foam market is projected to reach USD 99.78 billion by 2022, at a CAGR of 8.2% from 2017 to 2022. The growth of the rigid foam market is driven by the increasing use of rigid foams in the building & construction, appliances for insulation and energy saving, and in the automobile industry for weight reduction. These foams are also being increasingly used in the packaging end-use industry, owing to their light weight and durability. Volatility in the prices of raw materials used for the manufacture of rigid foams directly impacts their prices, which acts as a restraint for the growth of the rigid foam market.
Among types, the polyurethane segment of the rigid foam market is projected to grow at the highest CAGR during the forecast period
Polyurethane rigid foams are closed cell structure, possess high crosslinking density with high heat stability, high compressive strength and excellent insulation properties. It is used in the building & construction, appliances, automotive, packaging, and various other end-use industries. Polyurethane rigid foam is used in the building & construction end-use industry for thermal insulation and energy savings. In the automobile industry, as it impacts energy absorption, structural strength, weight reduction and recyclability. Increased demand for automobiles and infrastructure developments across the globe are expected to lead to an increase in their production and is thus expected to fuel the the polyurethane foam market during the forecast period.
The Asia-Pacific rigid foam market is projected to grow at the highest CAGR during the forecast period, 2017 to 2022
In 2016, the Asia-Pacific rigid foam market witnessed the highest growth, in terms of both, volume as well as value. This trend is projected to continue during the forecast period as well. Emerging markets, such as China, India, and various Southeast Asian countries are attracting a number of global players for the establishment of their manufacturing bases in the Asia-Pacific region. Manufacturers are competing to reach the wide customer base in countries such as China and India to cater to the increasing demand for technologically advanced and superior quality rigid foams. Increased investments in the infrastructure and automobile sectors are driving the Asia-Pacific rigid foam market.
Extensive primary interviews have been conducted to determine and verify the market sizes of various segments and subsegments obtained from the data gathered through secondary research. The breakdown of primary interviews has been given below.
• By Company Type - Tier 1 – 56%, Tier 2 – 33%, and Tier 3 – 11%
• By Designation - C level – 45%, D level – 33%, and Others – 22%
• By Region - North America – 22%, Europe – 20%, Asia-Pacific – 28%, Middle East & Africa – 17% and South America– 13%
The key companies profiled in this market research report are BASF SE (Germany), The Dow Chemical Company (U.S), Huntsman Corporation (U.S.), Covestro AG (Germany), JSP Corporation (Japan), Borealis AG (Austria), Sealed Air Corporation (U.S.), Armacell International S.A. ( Luxembourg), Woodbridge Foam Corporation (U.S.), and Zotefoams Plc (U.K.).
This report covers the consumption of rigid foam across different end-use industries and regions. It aims at estimating the market size and future growth potential of the rigid foam market across different segments based on type, end-use industry, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the rigid foam market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
This report aims at helping the market leaders/new entrants in the rigid foam market by providing them the closest approximations of the revenues for the overall rigid foam market and its subsegments. This report aims at helping stakeholders to obtain an improved understanding of the competitive landscape of the market and gain insights to improve the positions of their businesses by preparing suitable market strategies. This report also aims at helping stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.