- Properties like lower permeability and rigidity are expected to bring tremendous growth opportunities for the polymer foams market during the forecast period of 2019-2027
- The overwhelming use of polymer foams across a large number of applications is further expected to offer great opportunities for growth across the polymer foams market
ALBANY, N.Y., Feb. 8, 2021 /PRNewswire/ -- The polymer foams market is prognosticated to gain considerable growth across the assessment period of 2019-2027. The booming construction sector is expected to be the knight in shining armor in terms of growth. The growing urbanization and the rising disposable income across various regions will add extra stars of growth to the polymer foams market.
Polymer foams are created from various types of polymers. These foams have many advantageous properties. Some of them are low density, extensive corrosion resistance, and great specific strength. Thus, all these factors bring immense growth opportunities for the polymer foams market. The need for the development of infrastructure facilities will further have a profound impact on the growth of the polymer foams market.
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The Transparency Market Research (TMR) experts project a stable growth period for the polymer foams market. After a scrutinized and systematic research on every point, the experts conclude that the global polymer foams market is extrapolated to expand at a CAGR of 4.5 percent during the forecast period of 2019-2027. The global polymer foams market was valued at US$ 81bn in 2018.
The inclining usage of polymer foams across a variety of applications due to their exceptional properties may serve as a prominent growth aspect. Stringent environmental norms applied by many regions will further increase the demand for polymer foams. The growing popularity of superior-grade insulation materials will invite promising growth for the polymer foams market.
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Key Findings of the Report
Construction Sector to Bring Promising Growth for Polymer Foams Market between 2019 and 2027
The construction industry is expanding its influence exponentially around the world. Rural-to-urban migration has increased considerably over the years. Hence, this factor will invite shining growth opportunities as polymer foams are used on a large scale in the construction industry. The demand for polyurethane foams in the construction sector will invite exponential growth for the polymer foams market. Great load-bearing capacity and high-impact resistance are some of the characteristics that influence the growth of the polymer foams market.
Many sectors and industries are inclining toward sustainability. The construction industry is no exception. The rising use of sustainable materials across the construction industry will serve as a profitable growth prospect for the polymer foams market during the assessment period of 2019-2027. Polymer foams offer high-energy efficiency. Therefore, this factor will influence the growth of the polymer foams market considerably.
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Rail Infrastructure Development to Attract Substantial Growth
Governments of numerous countries, especially in Asia Pacific are concentrating on improving their rail infrastructure and intensifying their web of rail networks. These foams are used on a massive scale in constructing train station platform extensions and rail embankments. Therefore, this factor will serve as a prominent growth pillar for the polymer foams market.
Automotive Sector to Increase Growth Rate of Polymer Foams Market
The automotive sector makes great use of polymer foams due to properties such as energy-conserving, lightweight, and durable. These foams are used for headrests, seats, and armrests. The rising sales of passenger vehicles due to the preference of individuals for private transport instead of public transport will contribute to the growth of the polymer foams market.
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Polymer Foams Market: Growth Accelerators
- The use of polymer foams in electronic appliances such as refrigerators may bring good growth opportunities
- The popularity of polymer foams across packaging applications will further influence the growth prospects
- Ongoing research and development activities will also add extra stars of growth to the polymer foams market
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