Global Rigid foam Market, By Type (Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), others); By Application (Building & construction, Appliances, Packaging,Automobile,Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) - Industry Trends and Forecast to 2024
Market Analysis: Global Rigid Foam Market
The Global Rigid Foam Market accounted for USD 61.18 billion in 2016 and is projected to grow at a CAGR of 8.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Rigid Foam Market
Rigid foam is formed by either polyisocyanurate, extruded polystyrene; or expanded polystyrene used for sheathing continuous insulation on the wall exteriors. It is also used as thermal barrier and provides soundproofing to the interior walls. Rigid foam is used in several industries such as building and construction, appliances, packaging, and automobile.
Major Market Drivers:
- Government regulations against greenhouse gas emissions
- Growing automobile and packaging industry
- Technological advancements in the insulation industry
- Lack of awareness about the importance of rigid foam
Market Segmentation: Global Rigid Foam Market
The rigid foam market is segmented on the basis of type into Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC),and others.
On the basis of application, the market is segmented into Building & construction, Appliances, Packaging, Automobile, and Others. Building and construction segment is expected to witness the highest demand from the automotive sector over the forecast period.
On the basis of geography, the rigid foam market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacificis expected to dominate the market.
Competitive Landscape: Global Rigid Foam Market
The global rigid foam market is consolidated due to the presence of a limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Rigid Foam Market
Some of the major players in the rigid foam market include BASF SE, The Dow Chemical Company, Huntsman Corporation, Covestro AG, JSP Corporation (Japan), Borealis AG (Austria), Sealed Air Corporation (U.S.), Armacell International S.A (Luxembourg), Nitto Denko Corporation (Japan), Woodbridge Foam Corporation (Canada), Kaneka Corporation (Japan), and ZotefoamsPlc (U.K.).
Research Methodology: Global Rigid Foam Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor ShareAnalysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.