Technical Foam Market Size 2023 | Trends, Share and Industry Forecast, 2028

The global technical foam market size reached US$ 31.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

Technical foam refers to specialty foam produced using polymer and rubber blends manufactured for numerous industrial and commercial uses, such as filtering, sealing, and sound insulation. It is lightweight, strong, mildew- and heat-resistant, and skin-friendly. It protects against shock and vibrations, cushioning, noise dampening, water absorption, and thermal insulation. As a result, technical foam finds extensive applications in the electronics, aviation, automotive, marine, and packaging industries across the globe.

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Technical Foam Market Trends and Drivers:

The global technical foam market is primarily driven by rising building and construction activities. Moreover, technical foam encompasses polyurethane (PU) foam, which has high mechanical strength and low density, heat conduction coefficient, and water absorption properties. Consequently, it is widely used in healthcare products, including surgical drapes, hospital bedding, wound dressings, catheters, multipurpose tubing, and short-term implants, which in turn is positively influencing product demand.

Additionally, there has been a surge in the use of technical foam in the automotive industry to enhance vehicle fuel efficiency and reduce the weight of insulation. Along with this, the increasing production adoption in the manufacturing of electric vehicles (EVs) for preventing shock and rattling in battery components and foam compression has catalyzed the market growth.

Furthermore, various key players are focusing on introducing bio-based product variants manufactured using renewable resources. Other factors, including the rising need for acoustic solutions to tackle noise pollution, surging adoption of foam-based electronics packaging, favorable government policies, and rapid industrialization, are also anticipated to create a positive market outlook.

Global Technical Foam Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Armacell, BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, Kaneka Corporation, Recticel, Saudi Basic Industries Corporation (Saudi Aramco), Sealed Air Corporation, Sekisui Chemical Co. Ltd., Woodbridge and Zotefoams Plc.

The report has segmented the market on the basis of region, product form, material and end use industry.

Breakup by Product Form:

• Flexible
• Rigid
• Spray

Breakup by Material:

• Elastomeric
• Polyurethane
• Polyethylene
• Others

Breakup by End Use Industry:

• Automotive and Transportation
• Electrical and Electronics
• Building and Construction
• Medical
• Sporting Equipment
• Packaging
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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 Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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