Polyolefin Foam Market Size (2024 - 2029)

The polyolefin foam market is anticipated to experience growth, driven by its increasing application in the automotive and packaging industries. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and shifted industry priorities, the market is set to expand. The demand for lightweight and bio-based applications presents further opportunities, although competition from other polymer foams like polyurethane and polystyrene may impede growth. The Asia-Pacific region is expected to lead in market size and growth rate during the forecast period.

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Market Size of Polyolefin Foam Industry

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Polyolefin Foam Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Polyolefin Foam Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Polyolefin Foam Market Analysis

The Polyolefin Foam market is projected to register a CAGR of around 5% during the forecast period (2022-2027).

COVID-19 negatively impacted the market in 2020. The COVID-19 pandemic affected the polyolefin foam market because of supply chain and market disruption. During the pandemic, many factories producing polyolefin foam were shut down. There was a change in priority to the health sector; sectors like automotive, construction, footwear, and bedding & furniture were on temporary hold. In construction, polyolefin foam is used as joint filler, backup material, and roof insulation material. It is also used in automobiles as ceiling material and sound-absorbing material.

  • Over the short term, rising demand for polyolefin foam for application in the automotive industry and increasing consumption in the packaging industry are some of the driving factors stimulating the market demand.
  • Increasing demand for other polymer foams like polyurethane and polystyrene is expected to hinder the market growth.
  • Increasing demand for lightweight applications in various industries and growing demand for bio-based polyols will likely create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market and will also witness the highest CAGR during the forecast period.

Polyolefin Foam Industry Segmentation

Polyolefin foams are made up of multiple elements mixed in a kneading process using an organic blowing agent and a cross-linking agent. Polyolefin resin is thermally decomposed in a closed system to produce it. Polyolefin is a broad term for any compound made from an olefin monomer. Polyolefins come in different varieties depending on the type of olefin used. The Polyolefin Foam Market is segmented by foam type, end-user industry, and geography. By foam type, the market is segmented into Polyethylene (PE), Polypropylene (PP), and Ethylene Vinyl Acetate (EVA). By End-user Industry, the market is segmented into Automotive, Construction, Packaging, Footwear, Bedding & Furniture, and Other End-user Industries. The report also covers the market size and forecasts for the Polyolefin Foam Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue value (USD Million).

Foam Type
Polyethylene(PE)
Cross linked
Non-cross linked
Polypropylene(PP)
Expanded Polypropylene
Extruded Polypropylene
Ethylene Vinyl Acetate(EVA)
End-user Industry
Automotive
Construction
Packaging
Footwear
Bedding & Furniture
Other End-user Industries (Healthcare, Electronics, Sports, Aerospace)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyolefin Foam Market Size Summary

The polyolefin foam market is poised for significant growth, driven by its increasing application in the automotive and packaging industries. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted supply chains and halted production in various sectors, the market is recovering and expanding. Polyolefin foam is extensively used in the automotive industry for its lightweight and sound-absorbing properties, contributing to improved fuel efficiency and performance. The demand for lightweight materials is further bolstered by the global push towards electric vehicles, where reducing weight is crucial for enhancing battery efficiency. However, the market faces challenges from the rising popularity of alternative polymer foams like polyurethane and polystyrene. Nonetheless, the growing interest in bio-based polyols presents new opportunities for market expansion.

The Asia-Pacific region is expected to lead the polyolefin foam market, with China, India, and Japan playing pivotal roles due to their robust automotive production and construction activities. The region's dominance is supported by the increasing demand for polyolefin foam in automotive applications, as well as its use in construction for insulation and joint filling. The region's economic growth and industrial expansion, particularly in China and India, are key factors driving market demand. Additionally, the construction industry's growth in countries like the United States and Indonesia further supports the market's expansion. The global market is partially consolidated, with major players such as TORAY INDUSTRIES, INC., BASF SE, JSP, Hanwha Solutions Chemical Division Corporation, and SABIC leading the industry. Recent developments, such as Sekisui Alveo's launch of sustainable polyolefin foam products, highlight the industry's shift towards environmentally friendly solutions.

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Polyolefin Foam Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from Automotive Industry

      2. 1.1.2 Increase Usage in Packaging Industry

    2. 1.2 Restraints

      1. 1.2.1 Increasing Demand for Other Polymer Foams like Polyurethane and Polystyrene

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Foam Type

      1. 2.1.1 Polyethylene(PE)

        1. 2.1.1.1 Cross linked

        2. 2.1.1.2 Non-cross linked

      2. 2.1.2 Polypropylene(PP)

        1. 2.1.2.1 Expanded Polypropylene

        2. 2.1.2.2 Extruded Polypropylene

      3. 2.1.3 Ethylene Vinyl Acetate(EVA)

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Construction

      3. 2.2.3 Packaging

      4. 2.2.4 Footwear

      5. 2.2.5 Bedding & Furniture

      6. 2.2.6 Other End-user Industries (Healthcare, Electronics, Sports, Aerospace)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Polyolefin Foam Market Size FAQs

The Polyolefin Foam Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

TORAY INDUSTRIES, INC. , BASF SE , JSP , Hanwha Solutions Chemical Division Corporation and SABIC are the major companies operating in the Polyolefin Foam Market.

Polyolefin Foam Report Snapshots

Polyolefin Foam Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)