The latest research study “Technical Foam Industry: Global Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global technical foam market reached a value of US$ 29.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 40.4 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Technical foams are a type of specialty foam manufactured using rubber and polymer blends for various industrial and commercial applications. They have low density and good mechanical strength, durability, lightweight, skin-friendliness, and versatility. They also provide excellent heat, mildew and fire resistance, protection against shock and vibrations, cushioning, noise dampening, water absorption, and thermal insulation properties. They are widely used for packaging, sound insulation, cleaning, filtering, and sealing purposes. As a result, technical foams find extensive applications across numerous industries, including automotive, construction, marine, electronics, aviation, and packaging.
Technical Foam Market Trends and Drivers:
The global technical foam market is primarily driven by the growing product demand from the automotive sector to reduce the insulation weight and enhance the fuel efficiency of vehicles. Additionally, technical polyurethane (PU) foams are extensively used in catheters, general-purpose tubing, surgical drapes, hospital bedding, wound dressings, and short-term implants across the healthcare industry.
In line with this, the widespread product adoption as cushioning material for gymnastics, martial arts, judo, wrestling, and agility mats has augmented the demand for technical foams. Furthermore, the development of bio-based technical foams produced using renewable resources has catalyzed the market growth.
Other factors, including the rising popularity of foam-based electronics packaging, surging production of electric vehicles (EVs), increasing construction activities, escalating demand for acoustic solutions to tackle noise pollution, and technological advancements, are also anticipated to propel the market growth.
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Global Technical Foam Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these major key players include:
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The report has segmented the market on the basis of region, product form, material and end use industry.
Breakup by End Use Industry:
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Key highlights of the report:
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