The Foam Sheet Market is expected to grow at a CAGR of 4.94% during the forecast period of 2019-2025. The market growth is mainly driven by the rising demand from the end use applications in conventional and non-conventional fields. Growing energy demand across globe and end user consumer products sales mostly because of the increase in developing region population are driving this market. The strengthening of the purchase ability in these demographics such as Asia Pacific region, are eventually driving the foam sheet industry. The overall market is projected to show gradual growth considering rise in the subsequent industries & expected to settle in near future.
The Foam Sheet Market is expected to reach USD 24.45 Billion by 2025 from USD 17.41 Billion in 2018, at a CAGR of 4.94% from 2019 to 2025.
The market is analyzed across four geographical regions, namely, North America (U.S., Canada and Mexico), Europe (UK, Germany, France and rest of Europe), Asia-Pacific (China, Japan, South Korea, India and Rest of Asia-Pacific), and RoW (Latin America, Middle East and Africa). Asia Pacific region holds the highest market about 40% of total market share in 2018. Further Asia Pacific market is also considered as one of the fastest growing regions with the CAGR of 5.32%. As the ever-growing construction industry in the region is driving this market in the region. Specifically, countries like China and India, are witnessing rapid growth in their construction industry. Subsequently, increasing disposable income from the end user for numerous applications is pushing the gradual market growth in the region. This is one of the key drivers for the market. It is expected that at a country level, the U.S account for the largest share of revenue by 2025.
The Foam Sheet Market is segmented on the basis of Product Types, Application, By Grade Type and by Region. The two Grade types in this Market are, High Density and Low Density. In which High-Density Grade Type holds the 62% of market share in 2018. And is expected to be growing at a CAGR of 4.81% in the forecasted period.
The Foam Sheet Market by Application is segmented into Transportation, Wind Energy, Packaging, Building & Construction. Packaging based applications are estimated to grow at a CAGR of 4.34% in the forecast period and it holds the highest 39% of market share.
North America region leads the global market and contribute highest share to the Global market for Foam Sheets. While Asia Pacific region is expected to grow with a highest CAGR during the forecast period. The Foam Sheets has its application areas into various industries like transportation, packaging, wind energy, building and construction, and marine. Within that, growing wind energy sector and boom in construction sector are the key motivators which are further propelling adoption of Foam Sheets in the global market.
Key companies profiled in the report are EI Du Pont, Foamex, The Dow Chemical, Honeywell International, Kingspan Plc, Bayer Material Science, ITW Insulation System, Evonik, Knauf Insulation, Saint-Gobin S. A., ACG Worldwide, BASF SE, COVESTRO GROUP, FORMOSA PLASTICS GROUP, HUNTSMAN CORPORATION, SEALED AIR CORPORATION, Knauf Insulation, Inc., Saint-Gobain Corporation.
The Growing demand for light weight plastics, cost-effective composite materials and continuous demand for end user industry continue to be a key driver for the key market players for offering varied innovative solutions. The continuous demand from the various region has been identified by many international players and thus they have adopted key strategies such as expansion, mergers, acquisition to increase their operational presence and garner maximum market share.
By Grade Type
By Material Type
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa