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The industrial foam market size is estimated at USD 55.6 billion in 2021 and is projected to reach USD 72.2 billion by 2026, at a CAGR of 5.4% between 2021 and 2026. The market is propelled by the growth of various end-use industries such as building and construction, HVAC, aerospace. Increasing investments in infrastructure, new housing projects, and renovation of non-residential buildings in China, India, and Brazil have also boosted the market growth.  

“Aerospace as a end use industry of industrial foam is projected to grow at the highest CAGR during the forecast period” 

The aerospace industry is estimated to account for the second-largest share of the industrial foam market in 2021 and is projected to be the fastest-growing type segment from 2021 to 2026. The growth is due to rising use of a high percentage of PMI, silicones, and metal foams in new-generation aircraft by aircraft manufacturers

“PET as resin type is anticipated to grow at the highest CAGR during the forecast period”

PET foam is anticipated to grow at the highest CAGR in global industrial foam market from 2021 to 2026. PET foam is projected to register the highest CAGR during the forecast period, this is due to a surge in demand for PET foam in Asia Pacific due to increasing demand from the wind energy industry.   

“Asia-Pacific is projected to grow at the highest CAGR during the forecast period” 

Increasing demand for industrial foam from the rapidly growing industrial sector in the Asia Pacific region is one of the major factors responsible for the highest share and CAGR of this region. The industrial foam market in Asia-Pacific is driven by the easy availability of raw materials, increased foreign investments, and low labor costs. The end-use industries of industrial foams, such as building & construction, HVAC, and aerospace, are growing in emerging countries such as China, India, Indonesia, and Thailand, which play an important role in driving the market.

Profile break-up of primary participants for the report:

• By Company Type: Tier 1 – 40%, Tier 2 – 20%, and Tier 3 – 40% 

• By Designation: C-level Executives – 20%, Directors – 50%, and Others – 30%

• By Region: Asia Pacific – 30%, Europe – 40%, North America – 20%, the Middle East & Africa- 5%, and South America – 5%

Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as Covestro AG (Germany), BASF SE (Germany), Dow Inc. (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Saint-Gobain (France), Chemtura Corporation (Lanxess) (US), Recticel NV/SA (Belgium), Rogers Corporation (US), Trelleborg AB (Sweden), FoamPartner Group (Switzerland), Eurofoam Group (Austria), Woodbridge Foam Corporation (Canada), Tosoh Corporation (Japan), Foamcraft, Inc. (US), Loyal Group(China), JSP Corporation(Japan), and Sealed Air Corporation (US).

Research Coverage:

This report offers an overview of market trends, drivers, and challenges with respect to the industrial foam market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the industrial foam market on the basis of foam type, resin type, end-use industry and region. A detailed analysis of leading players, along with key growth strategies adopted by them, are also covered in the report.

Reasons to Buy the Report:

The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall industrial foam market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.