Market Size of Polyolefin Foam Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polyolefin Foam Market Analysis
The Polyolefin Foam market is projected to register a CAGR of around 5% during the forecast period (2022-2027).
COVID-19 negatively impacted the market in 2020. The COVID-19 pandemic affected the polyolefin foam market because of supply chain and market disruption. During the pandemic, many factories producing polyolefin foam were shut down. There was a change in priority to the health sector; sectors like automotive, construction, footwear, and bedding & furniture were on temporary hold. In construction, polyolefin foam is used as joint filler, backup material, and roof insulation material. It is also used in automobiles as ceiling material and sound-absorbing material.
- Over the short term, rising demand for polyolefin foam for application in the automotive industry and increasing consumption in the packaging industry are some of the driving factors stimulating the market demand.
- Increasing demand for other polymer foams like polyurethane and polystyrene is expected to hinder the market growth.
- Increasing demand for lightweight applications in various industries and growing demand for bio-based polyols will likely create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.
