Structural Foam Market: Introduction
Structural foam is a material that is used in various end-use industries such as automotive, packaging and construction, to impart strength and to support existing structure of products. Generally, structural foam is formed through the injection and extrusion moulding process. Structural foam combines foamed core with solid outer side rather than remaining solid throughout the structure. Structural foam is a type of composite which is manufactured when a polymer, generally thermoset, is combined with either an inert gas during the moulding process. Structural foam has a low density inside it and high density at outer side, while maintaining strength and stiffness along with lightweight and flexibility. These features are expected to propel the demand for structural foam over traditional polymers such as polyurethane. Besides, structural foam also has good heat and pressure resistance capacity, which increases their application scope in various industries.
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Structural Foam Market: Dynamics
Growing construction induction along with increasing infrastructure spending is one of the key drivers for the growth of structural foam market throughout the assessment period. In developing regions, the residential construction industry is growing with healthy growth rate due to increasing disposable income of middle class population, which create significant growth opportunities for the structural foam market. Emerging regions such as Brazil, India, China, and Russia propel the demand for injection moulded structural foam, which in turn positively impact on the growth of structural foam market. Furthermore, the increasing demand for structural foam from the packaging industry or material handling industry is also projected to accelerate the growth of the global structural foam market. However, fluctuating raw material prices along with increasing environmental safety concerns is one of the factors expected to hamper the growth of the market. In current scenario, due to increasing environmental concerns, manufactures are focusing on bio-based foams using injection moulded techniques. This factor is estimated to hinder the growth of the structural foam market over the forecast period.
Structural Foam Market: Segmentation
The structural foam market can be segmented on the basis of material, grade and end use.
On the basis of material, the global structural foam market can be segmented into:-
Polyvinyl chloride PVC
On the basis of grade, the global structural foam market can be segmented into:-
On the basis of end use, the global structural foam market can be segmented into:-
Electrical & Electronics
Structural Foam Market: Regional Outlook
The global structural foam market is projected to dominate by North America, owing to high adoption of structural foam technology in the region. The North America market is estimated to register healthy growth during the forecast period due to significant demand for structural foam from construction, automotive industries. Asia Pacific is also estimated to witness significant growth opportunities for the structural foam market due to growing demand for structural foam from the automotive, manufacturing and many other end-use industries. This is one of the key driver for the growth of structural foam market. The market in developed regions such as Japan & Western Europe is projected to grow at a steady pace. Western Europe market for Structural Foam is expected to hold significant share in the global market. Moreover, the high demand from end use industries such as manufacturing, electrical & electronics positively impact the growth of the global structural foam market. Latin America and Middle East & Africa are projected to witness moderate growth throughout the forecast period.
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Structural Foam Market: Key Participants
Examples of some of the key participants in the global structural foam market identified across the value chain include:
CHANGZHOU TIANSHENG NEW MATERIALS
SEASON GROUP INTERNATIONAL
THE DOW CHEMICAL COMPANY