The global industrial foam market is expected to reach USD 112.9 billion by 2030, at a CAGR of 5.9% from 2022 to 2030. Evolving customer purchasing habits and an increased preference for improving the automotive interior design are significant drivers driving the industrial foam market.

Market Overview:

Foam is a hard or fluid formed by enclosing vapors. A few examples are the head of a wineglass and bath sponges. Typically foams contain a significant amount of gas, segregated by thin physical or chemical layers. Foams are utilized in various sectors, including autos, construction and quarrying, aircraft, apparel, arts and music, furnishings, and beds. Industrial foam is a porous product used in both the transport and manufacturing sectors. It helps manufacturers solve weight reduction, stress-buffering, increased gas mileage, and longevity. Industry foam is a polymeric material that insulates and protects objects against friction, heat, humidity, collision, and oxidation. It is generally available in sprays, stretchy, and stiff forms and is used chiefly as mattress and household filling. It is biocompatible, non-toxic, and does not deteriorate over time. It can also react immediately with humidity after contact to stretch and attach with materials with good adhesion.

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Market Dynamics:

Drivers:

• An increase in the consumption of industrial foam from a variety of businesses.

Building and construction, marine, HVAC, aerospace, and pipe shielding are primary sectors that use industrial foam. Industrial foam is used in the building and construction sector for welding, pipe-in-pipe, doorways, ceiling boards, and pavements. Industrial foam is frequently used for internal wall or roof structures in business and residential facilities. Molded polystyrene (XPS) is also utilized in arts and structural data modeling. Expanded polystyrene (EPS) is an ideal design & construction material because it is light yet solid, has thermal concrete shielding, and is very impact resistant.

Restraints:

• Raw material's price fluctuation.

The availability and price of raw ingredients impact the pricing structure of foam items. The primary essential components utilized in foam production are toluene, benzene, phosgene, and polyol. These are oil and gas derivatives that are susceptible to price swings. The price of oil has been very unpredictable from 2019 to 2021 due to increased global supply, war and foreign military action in the Middle East, and the current COVID-19 epidemic.

Opportunities:

• Increase in demand for bio-based polyurethanes.

In light of increased issues about the use of carbon fuels and the environmental effect of plastics, foam makers are always aiming for sustainable development in their marketing practices. Oil price fluctuation in recent years has had a substantial impact on the results of the foam sector. This resulted in bio-based polyols, which may be used to make foam. Bio-derived products such as soy-based polyurethanes outperform conventional polyols in terms of affordability and sustainability. They are also less susceptible to degradation and more environmentally benign. Urethane Soy Systems, Dow-Based Technologies, The Dow Chemical Company, and MCPU Polymer Engineering are among the primary producers of soy-based polyurethanes.

Challenges:

• Strict laws governing the use of substances.

The usage of chlorofluorocarbons as pushing reagents during the producing period of industrial foam is a significant cause of ozone layer depletion. Long-term exposure to Methylene diphenyl diisocyanate is detrimental to one's health and can irritate the skin, eyes, nose, throat, and lungs. Polystyrene is carcinogenic and includes hazardous chemicals, including benzene, ethylene, and styrene. As a result, in Europe and North America, regulatory agencies such as Control of Substances Hazardous to Health (COSHH), the European Union (EU), Registration, Assessment, Permission, and the Globally Harmonized System (GHS), and the Department Of Energy regulate the use of foam in different applications. As a result, market participants have difficulty developing cost-effective, environmentally friendly foam materials while adhering to harsh environmental laws.

Segmentation Analysis:

The global industrial foam market has been segmented based on type, application, end-user, and regions.

• The type segment is divided into polyethylene, ethylene-vinyl acetate, polyurethane, polypropylene, and others. The polyethylene segment dominated the market, with a market share of around 33% in 2021. The substantial increase in the building industry, combined with increased sales volume from the furnishing sector, is one of the primary reasons driving the market's favorable outlook. Moreover, the extensive use of supple and moderately polyurethane foams in business and residential buildings with varnishes, paintings, and sealants adds to market expansion. Furthermore, different product improvements and the advancement of bio-based polyurethanes used in producing polyurethane foam with low carbon pollution in the environment are boosting the need for this type of foam. Additionally, the widespread use of polyurethane foam in the automobile sector is a key development driver. It is utilized in this sector to make lightweight car components such as airbags, dashboards, and other external pieces, which helps to improve the vehicle's total fuel economy. Other reasons, such as increased industrialization and rising product consumption from the packaging sector, are expected to propel the market even more.
• The application segment is divided into consumer goods, furniture and upholstery, textile and fibers, packaging, and others. The furniture and upholstery segment dominated the market with a market share of 26.2% in 2021. Higher disposable incomes in emerging nations, along with altering customer purchasing patterns due to different lifestyles, will promote demand for furniture and upholstery, driving demand for the industrial foam industry. The industry's expansion is being driven by rising residential building expenditures, backed by technical advancements that provide extremely strong, durable, and lightweight equipment. Increasing adoption of viscoelastic and dynamic foam in mattress and bedding goods in both established and emerging markets would further push market growth.
• The end-user segment is divided into building and construction, food and beverages, textile, transportation, and others. In 2021, the building and construction segment dominated the market, accounting for around 30% of global revenue. Polymer-based companies are in great demand in the building and construction industries due to essential qualities such as low weight, resilience, and adaptability. The architecture and aesthetics of residential construction, have the largest market share, and hence the building and construction category has the most significant market share. Applied polyurethane offers water-resistant sealants that fill gaps and appear in a domestic application. Because of their features such as waterproofing, convenience, toughness, portability, and energy-saving, these foams are becoming more popular in automobile applications. They provide cushioning effects in seats and headrests, reducing tension and tiredness connected with driving. As a result, the abovementioned elements will generate significant income throughout the anticipated time.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global industrial foam market with a 35.8% share of the market revenue in 2021.

• The hike in industrialization in emerging nations such as China and India is predicted to drive the region's demand for industrial foam. An increase in product need from the region's diversified end-user sectors, including upholstery, manufacturing, essential goods, and automobiles, will drive market expansion. Increased use of green building technologies in the construction sector would drive regional growth, as would significant development in the automobile industry. Because of rising global international investment, China is likely to monopolize the region's market.
• On the other hand, because of the more significant density of vehicle manufacturers in Europe region, Germany and Italy will be the most essential industrial foam markets throughout the projection period.

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global industrial foam industry.

Sheela Foam Limited, India's largest maker of bedding and foam, bought Interplasp SL, a Spanish business with a yearly production of 11,000 tonnes of polyurethane foam for mattress and interior applications, in August 2019.

Sika AG, a specialized chemical producer of adhesive, suspension, sealant, and strengthening solutions for the transport and manufacturing sectors, purchased Belineco LLC, a maker of polyurethane foam systems in Belarus, in March 2019.

List of Key Market Players:

• Covestro AG
• Dow Inc.
• Saint-Gobain
• Trelleborg AB
• BASF SE
• Huntsman Corporation
• Chemtura Corporation
• Sekisui Chemical Co., Ltd.
• Recticel NV/SA
• FoamPartner Group
• Rogers Corporation

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Report Description:

• Global Industrial Foam Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2021 is considered as the base year of the report. 2019 and 2020 are considered historical years, and 2022 to 2030 are the forecast years. The global industrial foam market is based on revenue (USD Billion). The report incorporates the market study based on income. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global industrial foam market. The analyzed areas for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of Industrial Foam based on type, application, end-user, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by essential organizations catering to the global industrial foam market. This offers vital and in-depth insights to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global industrial foam market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and critical financial information. This helps in evaluating the overall competition present in the market scenario.
• The report provides an elaborative assessment of porter's five forces analysis coupled with SWOT analysis to offer business-related data and pieces of information. Porter's five forces model is analyzed to understand the overall competitive scenario prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development, which influences the company's growth and development to sustain and survive in the long run.
• The report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a critical potential for the investors.
• Potential growth prospects, along with the penetration rate analysis of the product (market-related, i.e., global industrial foam market), are covered to comprehend the adoption rate and evaluate the market size.