Environment regulations set to drive polymer foam market to US$171.96 bln by 2021

26-Jun-17

The Global market for polymer foams is estimated to reach US$171.96 bln by 2021 at a CAGR of 8.5%, as per Markets and Markets. Environment regulations set for different industry sectors, such as building & construction, furniture & bedding, packaging and other sectors facilitate the growth of foams. Polymer foams are used in various applications such as packaging, building & construction, furniture & bedding, automotive, and others. In 2015, the building & construction application segment is estimated to account for the largest market share among all the applications, in terms of volume, while automotive application is estimated to register the highest CAGR between 2016 and 2021, followed by packaging application.

In 2016, Asia-Pacific is estimated to account for the largest market share, in terms of volume, and is projected to register the highest CAGR between 2016 and 20201. The robust demand in Asia-Pacific is the major driver of the polymer foam market. China led the foam demand owing to increased manufacturing and assembling of vehicles in the past 2–3 years. It is also the largest consumer of polymer foam at the global level. Other emerging economies such as Brazil, India, and Mexico are projected to have a positive future in this market. In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.