Global Engineered Foam Market – Industry Trends and Forecast to 2029

Engineered foam Market Analysis and Size

Engineered foam is a lightweight plastic used in various end user industries. Engineered foam is generally used as an insulator in the construction and manufacturing industries. Moreover, the government also funding for the development of advanced engineered foam products which is anticipated to propel the growth of the engineered foam market globally over the forecast period of 2022-2029. Also, the demand for the engineered foam in urban areas is generally more intense than in countryside due to which the engineered foam market is probably on the rise in next few years. 

Data Bridge Market Research analyses that the engineered foam market is expected to undergo a CAGR of 7.95% during the forecast period. This indicates that the market value, which was USD 83.70 billion in 2021, would rocket up to USD 154.35 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Engineered foam Market Scope and Segmentation

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Market Definition

Engineered foam is made from flexible polyurethane, polystyrene or polyethylene. These materials can be formed in various colors, densities and sizes, making them perfect for anything from insulation sheets to manufacturing bespoke packaging for protecting the delicate products, such as electronics products. The engineered foam provides protection from the vibration and scratches. Many other uses of engineered foam include filter elements, car polishing pads, sponges, sanding pads and microphone windshields.

Engineered foam Market Dynamics

Drivers

• Growing demand in construction industry

Development in the construction industry has boosted the demand for engineered foam in last few years. This trend is also anticipated to continue during the forecast period because of rising demand of green buildings and growing energy conservation regulations overall the globe. Engineered foam aids in decreasing the cost of total infrastructural by reducing the energy consumption in buildings. The rising demand for engineered foam is expected to drive the market's growth rate.

• Rising demand in automotive sector

Growing use of flexible polyurethane in the automotive sector are expected to drive the growth rate of the engineered foam market during the forecast period. Flexible polyurethane is employed in cars for sound insulation and vibration dampening, increasing the demand for engineered foam in the automotive industry.

• Environmental initiatives for reducing the use of fossil fuel

New environmental initiatives that aim to reduce fossil fuel consumption and oil and  gas as insulation components in the building and manufacturing industries have increased the demand for engineered foam, which is anticipated to fuel the growth of the global engineered foam market.

Furthermore, the rising demand for engineered foam due to its excellent property, increasing usages in construction as well as automobile industries and other industries from emerging economies are some of the major factors which are expected to accelerate engineered foam market during forecast period. 

Opportunities

• Increase focus towards expansion

The major companies are mostly shifting their focus towards introducing new and innovative products and rising their production capacities into the engineered foam market to attain a competitive advantage. The products are developed in such a way that would help with the minimization of the use of fossil fuel.

• Rising demand for bio-based material

Rising demand of bio-based polyols for the production of engineered foam, serve significant cost-effectiveness and sustainability benefits over the conventional polyols. They also reduce the use of oil and petroleum-based raw materials. Bio-based polyols also have superior thermal stability than traditional polyols which will create beneficial opportunities for the market growth.

• Government initiatives and increased research activities

The extensive research and development activities by major market players in collaboration with government authorities are serving improve quality of engineered foam. Also, the technological advancements in production of engineered foam are profiting the end-users industries and create immense opportunities for market growth.

Restraints/Challenges

• Fluctuation in cost

The high cost of technologically advanced engineered foam products is the major factor which are expected to challenge the growth of global engineered foam market during the forecast period.

This engineered foam market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the engineered foam market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Engineered Foam Market

The outbreak of the COVID-19 pandemic has declined the growth of the engineered foam market globally. During the pandemic, manufacturing companies are dealing with the disrupted demand and supply chains due to the shutdown of manufacturing facilities during this pandemic. In the post pandemic era, growth in the medical and healthcare segment is expected to reinforce global market demand for engineered foam, as it helps to improving patient care. Thus, coronavirus is leaving a major impact on the growth of the engineered foam market.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Engineered Foam Market Scope

The engineered foam market is segmented on the basis of type, form and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Polyurethane
• Polystyrene
• Polyolefin
• Polyvinyl Chloride
• Others

 Form

• Flexible
• Rigid
• Spray

 End-User

• Aerospace and Defence
• Medical and Healthcare
• Transportation
• Manufacturing and Construction
• Others

Engineered Foam Market Regional Analysis/Insights

The engineered foam market is analysed and market size insights and trends are provided by country, type, form and end-user as referenced above.

The countries covered in the engineered foam market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia Pacific dominates the engineered foam market due to the considerable growth of the automotive sector in emerging economies such as India and China. Also, this region has increased demand for lightweight structures in the building and construction sector. 

North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the presence of large number of automobile manufactures in these regions.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Engineered Foam Market Share Analysis

The engineered foam market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to engineered foam market.

Some of the major players operating in the engineered foam market are:

• UFP Technologies, Inc., (U.S.)
• FXI (U.S.)
• Trelleborg AB (publ) (Sweden)
• Armacell (Luxembourg)
• Sekisui Chemical Co., Ltd. (Japan)
• Future Foam (U.S.)
• Foamcraft (U.S.)
• BASF SE (Germany)
• Bayer Material Science (U.S.)
• Dow (U.S.)
• Huntsman International L.L.C (U.S.)
• Rogers Corporation (U.S.)
• Ube corporation (Japan)
• Recticel (Belgium)
• Zotefoams Plc (U.K.)
• The Woodbridge (Canada)
• Sekisui Alveo (Switzerland) 
• Indoac Corporation (Japan)
• covestro AG (Germany)

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