Structural foam Market Growth and Forecast, 2014 - 2025

The market is subject to witness a substantial growth due to the rising infrastructure activities, growing residential & commercial construction industry and substantial growth of retail sector. Additionally, the growing need for structural foam in material handling, automotive, and electrical & electronics industry from BRICS (Brazil, Russia, India, China and South Africa) countries are expected to drive the growth of the market over the forecast period. Globally, the structural foam market is predicted to grow at CAGR of 5.8% in forecast period, providing numerous opportunities for market players to invest in research and development in the market. Structural foams offer advantages such as lightweight and superior weight to strength ratio, mainly in comparison with the solid plastics. Such factors are largely influencing demand of the structural foams. Other advantages of structural foams include stability, conductivity, heat resistance, and toughness, which are vital in applications such as wind turbines, automobile equipment, and insulation purposes.

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Increasing adoption of structural foams in material handling equipment that is commonly used for small distance travel for industrial goods within the production plant, thus expanding overall market reach of the structural foam industry over the forecast period. Other applications of the structural foam include packaging services, shipbuilding, wind power, and consumer goods, such factors are playing critical role in the growth of structural foam market in the last couple of years.

However, variation in the cost of the raw materials and shifting preference towards biodegradable plastics as a reliable substitute replacing non-biodegradable foam are expected to limit market growth over the forecast period. Yet, large corporations are increasingly setting up supply partnerships and implementing forward and backward integration in the supply chain network, thus driving market growth in the last couple of years. Although, changing fuel prices, increasing demand for premium quality products at cheap rates and growing competition in the market are further restraining market progress to a certain extent.

Polyethylene is considered as one fastest growing segment in the structural foam industry with substantial revenue generation in the last couple of years. Growing popularity of the polyethylene foam market segment is credited to the factors such as lightweight, durability, heat resistance and a closed-cell material composition. Polyethylene is widely used in the packaging of delicate products and automobile parts, thus fostering market value in the recent years.

Rigid polyurethanes has also witnessed substantial growth in the last couple of years owing to increase in adoption as a structural material. Rigid polyurethanes has also displayed important properties such as toughness, lightweight, and resilience. Rigid polyurethanes also provide protection against chemical reactions and moisture effects thus making it an ideal choice for various application such as building & product insulation.

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