Global polymer foams market expected to reach US$131.1 bln by 2018

04-Apr-14

The global polymer foams market's revenue was estimated to be worth US$82.6 bln in 2012, which is expected to reach US$131.1 bln by 2018, growing at a CAGR of 7.7% from 2013 to 2018, as per Research and Markets. The APAC region dominated the global polymer foams market, bestowing 36.5% of the total revenue in 2012. China and US shared 40% of the total polymer foam consumption in 2012. The Brazilian polymer foam is one of the fastest amongst major consuming countries. Polymer foams are used in various consumer products that provide durability, comfort, support, and safety. These polymer foams are lightweight and less costly compared to other substitutes such as metallic foams or fiberglass. Their growing demand reflects their versatile nature against other competitive materials. Polymer foams are generally foamed plastics of polymer resins. Flexible polyurethane foam is one of the most versatile materials as it is used in furniture, bedding, carpet cushion, automotive, and packaging applications. There are seven major types of polymer foams available commercially: Polyurethane (PU), Polystyrene (EPS & XPS), Polyolefin (PE & PP), Polyvinyl Chloride (PVC), Phenolic, Melamine, and others. The global polymer foams market is driven by its diverse range of applications. There is huge demand from the automotive sector which finds its usefulness in a myriad of applications such as gaskets, headliners, cushioning and cables. Environmental regulations from different industry sectors such as plastic, automotive, building and construction, furniture and bedding, packaging and other sectors facilitates the growth of foams. The growing polyolefin foams demand from the automotive and packaging markets is notable in key countries at global levels. New technology and innovations emerge commercially and would be very effective for the growth of foams in future. The APAC region foam market demands for higher consumption due to its larger population needs and their growing activities across constructions and other industries.