Global Technical Foam Market size was valued at US$ 8.9 Bn in 2019 and the total revenue is expected to grow at 11.6 % through 2020 to 2026, reaching nearly US$ 15.8 Bn.
The global Inorganic Corrosion market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Inorganic Corrosion report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Technical Foam Market Overview:
Technical foam includes all foam solutions developed for industrial and commercial applications. The increase in demand for technical foam from the automotive transportation sector and the rising demand for acoustic solutions to tackle noise pollution are the major factors driving the technical foam market growth.
Global Technical Foam Market Dynamics:
Growth in Building Construction Activities
Increase in building and construction activities is driving the global technical foam market demand. The growing population is the major factor that propels the construction industry. The rise in demand for new construction has enhanced the demand for technical foam products. The technical foams market is expected to drive by the increase in residential maintenance activities. Homeowners are interested in investing more in the upkeep of their floors, walls, and roofing. This trend is expected to drive the technical foams market.
Increase in Prices of Technical Foam
High cost of technical foam materials restrains the technical foam demand. However, the promotional schemes of governments raise awareness among the people about the energy-saving process and the zero energy building concept. The initial installation cost of technical foam materials is high; however, the amount invested can be recovered through energy saved over years. These all aforementioned factors hamper the technical foam market growth.
Global Technical Foam Market Segment Analysis:
By Form, the technical foam market is bifurcated into flexible, rigid, and spray. The flexible foam segment held the largest market share in 2019 thanks to its suitableness for the production of automotive seat cushioning, office equipment, and furniture for comfort and support. These foams are less expensive as compared to spray and rigid foam, and they also offer absorbing capacity due to which, they are preferable to use in the packaging of electrical devices and medical wipes swabs, driving the growth of the market. This factor is expected to grow the market during the forecast period.
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By Material, the market is bifurcated into elastomeric, PU, PE, and expanded foam. PU segment accounts for the largest market share in 2019 and is expected to grow at a rapid pace during the forecast period thanks to its favourable properties like low weight, absorption of sound, heat preservation, and excellent cushioning. PU foams are mainly used in the automotive transportation and commercial buildings segments. These all factors help to grow the market during the forecast period.
Global Technical Foam Market
Recent Developments
In February 2020, Huntsman Corporation acquired Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications. Huntsman acquired the business from an affiliate of FFL Partners, LLC, for USD 350 million. The acquisition of Icynene-Lapolla is aligned with Huntsmans strategy of growing its downstream polyurethanes business.
In December 2019, BASF SE expanded its range of melamine resin foam, Basotect, by developing and improving emission properties in the new grade Basotect UF+. It is suitable for the insulation of rail vehicles and for heating, ventilation, and air conditioning (HVAC) in buildings.
Global Technical Foam Market Regional Insights:
Asia Pacific is Dominate the Technical Foam Market
The Asia Pacific accounted for the largest share of the global technical foam market in 2019, in terms of revenue, followed by Europe and North America. China is one of the major consumers of technical foam in this region.
The emerging economies in Asia-Pacific are getting various foreign equipments thereby, improving the production efficiency. The market in The Asia Pacific is witnessing growth owing to the industrial development in the region and its improving economic conditions. Moreover, several foreign players are adopting inorganic growth strategies to establish their presence in the region, which is expected to prompt the Asia Pacific technical foam market.
Global Technical Foam MarketThe objective of the report is to present a comprehensive analysis of the global Inorganic Corrosion market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Inorganic Corrosion market dynamics, structure by analyzing the market segments and project the global Inorganic Corrosion market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Inorganic Corrosion market make the report investors guide.
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Global Technical Foam Market Scope: Inquire before buying
Global Technical Foam Market
Global Technical Foam Market, by Region
North America
Europe
Asia Pacific
Middle East and Africa
South America
Global Technical Foam Market Key Players
Foam Fabricators
Carpenter
Pregis Corporation
Sonoco Products
Changzhou Tiansheng New Forms Co. Ltd.
ACH Foam Technologies
Polyfoam Corporation
NMC
Wm. T. Burnett Co.
INOAC
FXI
Tucson Container Corporation
Plymouth Foam
Vita
Sealed Air Corporation
Foam Partner
Rogers Foam Corporation
Others
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