Engineered Foam Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is Segmented by Polymer Type (Polyurethane, Polyolefin, Polystyrene, and Other Polymer Types), Foam Type (Flexible, Rigid, Spray, and Other Foam Types), End-user Industry (Building and Construction, Packaging, Furniture and Interiors, Automotive and Transportation, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East & Africa)

Market Snapshot

Engineered Foam Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The market for engineered foam is expected to register a CAGR of over 4% , globally, during  the forecast period. An increase in the demand from the building and construction industry and the packaging industry is driving the market. On the flip side, stringent environmental regulations and volatile raw material prices are hindering the growth of the market.

  • The engineered foam market is expected to grow during the forecast period, owing to the increasing demand for insulation in the building and construction segment. 
  • The Asia-Pacific region is expected to dominate the global market, with the largest consumption rates being registered in countries, such as China and India. 

Scope of the Report

The engineered foam market report includes:

By Polymer Type
Polyurethane
Polyolefin
Polystyrene
Other Polymer Types
By Foam Type
Flexible
Rigid
Spray
Other Foam Types
By End-user Industry
Building and Construction
Packaging
Furniture and Interiors
Automotive and Transportation
Other End-user Industries
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand for Insulation in the Building and Construction Industry

  • Engineered foam is widely used as an insulator in the building and construction industry and is expected to be the fastest-growing market during the forecast period.
  • Rigid foam insulation is innovative in the building and construction industry, a material that significantly reduces a building’s energy usage and helps control interior temperature.
  • Gaps and air leaks lead to high energy bills and let valuable resources go to waste. High-performing foam insulation can effectively seal gaps and air leaks and help to maintain interior air temperature at desired levels.
  • According to the United States Department of Energy, heating and cooling account for about 50% of total energy consumption in a typical home. Foam insulation provides lowering energy bills by reducing air leaks and thereby decreasing the heat transfer between indoor and outdoor environments
  • Additionally, the engineered foam provides moisture insulation by restricting the moisture to pass through the walls which leads to the growth of mold in the building.
  • New environmental policies that are aiming at reducing fossil fuel consumption and energy conversation are encouraging the manufacturers in the direction of using foam as insulation in the building and construction industry.
Engineered Foam Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for engineering foams during the forecast period, due to an increase in demand from countries like India and China.
  • Engineered foam is being widely used in beds, couches, chairs, seats, and shoes. Memory foam materials provide good support and excellent pressure relief. One great benefit from memory foam is that it uses body heat and pressure to foam into exact shape.
  • Engineered foam is widely used in aerospace to provide excellent comfort during travel. In defense, the engineered foam is used to provide protective cases that will provide extra cushioning to carry delicate equipment and to protect it from damage. In 2019, China has allocated around USD 177.61 billion for military and defense sector.
  • In the e-commerce industry, engineered foam is used in protective packing to prevent the goods from getting damaged during transport. China and India have the largest share in the e-commerce market around the world. China’s e-commerce market is dominated by Alibaba whose market share is around 59%. The company’s annual revenue in FY 2019 has seen 51% year-on-year growth and this has increased the consumption for engineered foams in packaging.
  • Engineered foams manufactures are adding fire retardants to foam to prevent the fires mishaps, to limit the spreading of fire and to limit the damage caused by fire.
  • As a result of its superior properties such as insulation and its ability to limit the damage caused by fires the use of engineered foams in building and construction is expected to drive the market.
Engineered Foam Market Regional Trends

Competitive Landscape

The global engineered foam market is partially fragmented, with the players accounting for a marginal share of the market. A few companies operating in the market include BASF SE, Polymer Technologies Inc., Rubberlite Inc., Flexipol, and Nomaco.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in Demand from the Building and Construction Industry

      2. 4.1.2 Growing Demand from the Packaging Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Polymer Type

      1. 5.1.1 Polyurethane

      2. 5.1.2 Polyolefin

      3. 5.1.3 Polystyrene

      4. 5.1.4 Other Polymer Types

    2. 5.2 By Foam Type

      1. 5.2.1 Flexible

      2. 5.2.2 Rigid

      3. 5.2.3 Spray

      4. 5.2.4 Other Foam Types

    3. 5.3 By End-user Industry

      1. 5.3.1 Building and Construction

      2. 5.3.2 Packaging

      3. 5.3.3 Furniture and Interiors

      4. 5.3.4 Automotive and Transportation

      5. 5.3.5 Other End-user Industries

    4. 5.4 By Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alpha Foam Ltd

      2. 6.4.2 Armacell

      3. 6.4.3 BASF SE

      4. 6.4.4 Engineered Foam Products Canada

      5. 6.4.5 Engineered Synthetic Systems

      6. 6.4.6 Eurofoam GmbH

      7. 6.4.7 Flexipol

      8. 6.4.8 HSM

      9. 6.4.9 Interplasp

      10. 6.4.10 Nomaco

      11. 6.4.11 PMMI Media Group

      12. 6.4.12 Polymer Technologies Inc.

      13. 6.4.13 Rubberlite Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Awareness about Fuel and Energy Conversation

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Engineered Foam Market market is studied from 2016 - 2026.

The Engineered Foam Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, Polymer Technologies, Inc., Rubberlite, Inc., Flexipol, Nomaco are the major companies operating in Engineered Foam Market.

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