Structural Foam Market Research - Segmented By Materials, Application, and Region - Size, Share, Trends, COVID-19 Impact and Growth Analysis Report - Industry Forecast (2021 to 2026)

  • Category : Chemicals & Materials |
  • Report Code : VMR-41215 |
  • Pages: 200 |
  • Published : 2022-02 |
  • Region: Global |
  • Avilable Format : format excel,ppt, Pdf |
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Structural Foam Market Size (2021 - 2026)

The global structural foam market size is expected to reach USD 48.2 billion by 2026 growing with a CAGR of 5.9% during the forecast period. 

Structural foams are described as thermoplastic products with cellular foamed core with a solid skin surrounding the core. Structural foam is lighter than solid plastics having a high strength-to-weight ratio and low-cost tooling. Foams are used by varied industries involving packaging, automotive to reveal endurance, heat resistance, strength, and conductivity. 

Structural foam has a low density inside the core and a high density at the outer side, maintaining strength and stiffness with feathery and flexibility. Structural foams have pressure resistance capacity and good heat increasing their application scope across varied industries. 

Market Drivers

The preference for biobased plastics as a dependable alternative to non-biodegradable foam is predicted to have a slow growth during the forecasted period. The demand for feathery products and the rising perforation of high-end applications that need advanced technologies is mounting accumulating the market growth. 

The demand from the aircraft industry is increasing fueling the growth. The rising automotive sector in appearing countries is hiking the complete demand for structural foam. The quick rise in urban population and developing living standards have created an immense demand for new infrastructure. The demand for the product is increasing due to the rising demand for automobiles, material handling, and electrical and electronics. The increasing construction induction with growing expenditure on infrastructure with heightening residential construction with robust rate is strengthening the structural foams market. The growing adoption of advanced technologies in the construction and building sector and the advent of well-established industrial infrastructure stimulate the growth of the market. 

Market Restrains

However, fluctuations in the cost of raw materials with rising environmental issues regarding their disposal hinder the market. 

Market Segmentation

As per our research report, the global structural foam market is based on material and application. 

Structural Foam Market - By Materials

  • Polyethylene
  • Polypropylene
  • Polystyrene
  • Polyurethane
  • Others

Based on the materials, the polyethylene segment is dominating the structural foram market. Polyethylene foam is strong, resilient, weightless, and a closed-cell material mostly used in packing fragile goods and automobiles. Due to its exceptional insulation and vibration diminish the properties improve the demand for the structural foam market. 

Polypropylene is the second leading segment in thermoplastics. Polypropylene is used for manufacturing structural foam and is increasing considerably. 

Polystyrene and polyurethane are other important materials and these materials growing at a remarkable rate. 

Structural Foam Market - By Application

  • Material Handling
  • Building & Construction
  • Automotive
  • Electrical & Electronics
  • Others

The material handling segment is the largest consumer of structural foam.  The automotive sector is experiencing the highest CAGR throughout the foretold period. The increasing continuous research for advancing lightweight composites for vehicles. Structural foams are injected into various parts of the automobile body-side engine cradles, door panels, side rails, and hydroformed reinforcements. These factors propel the structural foam application market. 

The building and construction sector is expected to appear as the quickest application. The quick extension of building and construction was inspired by huge economic growth and industrialization. 

Regional Analysis

North America is commanding the structural foam market with the highest share. The use of weightless materials in wind turbines, building, and construction fuels the market growth. The region accounts for more than 54% of the share. The market trend for structural foam is continuously on an upward rise. 

The United States is leading the region with the highest share. The population across the region is rising and growing living standards have accentuated the automotive demand. Continuous projects with strong government initiatives fuel the structural foam market in North America. 

Europe is the second-largest region growing with a tremendous growth rate during the foreseen period. The presence of a large number of structural foam manufacturers drives the revenue growth of the market in Europe. 

Asia-Pacific is witnessing significant growth opportunities in the structural foam market. The market in APAC owes to the rising demand for structural foam from manufacturing, automotive, and other end-use industries. Developing countries like Japan and Western Europe are scheduled to grow at a stable rate. 

India, Indonesia, and China are the leading countries in Asia-Pacific's market due to the ever-increasing population, and market players are significantly investing focusing on their standard of living. China is said to remain one of the fastest-growing led by South Korea, Australia, and India. 

Latin America and the Middle East and African regions are experiencing average growth during the foreseen period. The quick rise in population with accelerating living standards has accumulated the demand for automotive and the material used in the automotive sector has fueled the structural foam market growth. 

In South Africa, the expenditure for construction is magnifying, propelling the market growth. 

Top key players in the global Structural Foam Market

  1. One Plastic Group (U.K.)
  2. Season Group (Hong Kong)
  3. SABIC (Saudi Arabia)
  4. Bayer MaterialScience (Germany)
  5. Armacell (Luxembourg)
  6. BASF SE (Germany)
  7. Changzhou Tiansheng New Materials Co. Ltd. (China)
  8. Evonik Industries (Germany)
  9. GI Plastek (U.S.) and Others

COVID-19 Impact on Structural Foam Market

The novel coronavirus (COVID-19) is caused by the SARS-CoV-2 reagent. The virus is originated in Wuhan, China in December 2019. The virus has spread to every corner of the world affecting the global economy. The virus has also affected millions of people resulted in death. Nationwide governments have imposed strict lockdowns to prevent the virus from the spread. 

The structural foam market has witnessed a moderate effect due to the pandemic crisis. The supply chain of raw materials has been disrupted. The pandemic crisis has resulted in various ways.

Recent Market Developments

  • On February 27, 2020, Armacell collaborated with a Swiss CMT partner to increase the development of PET-based particle foam. The collaboration is for the development and industrialization of Armashape. 
  • On January 11, 2022, SABIC launched bio-based ULTEM resins that offer sustainability assets while delivering the same high performance and processability as binding ULTEM materials. 
  • On November 11, 2019, Diab Group partnered with SKAPS Ltd India. The partnership was to polyethylene terephthlate (PET) foam production plant in Gujarat, India. 

Structural Foam Market - Forecast (2021 - 2026)

Chapter 1. Structural Foam Market  – Scope & Methodology

1.1. Market Segmentation

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2. Structural Foam Market  – Executive Summary

2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)

2.2. Key Trends & Insights

2.3. COVID-19 Impact Analysis

                2.3.1. Impact during 2021 - 2026

                2.3.2. Impact on Supply – Demand

                2.3.3. Impact on Production Cost

                2.3.4. Impact on Supply Chain

Chapter 3. Structural Foam Market  – Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier - Distributor Analysis

Chapter 4. Structural Foam Market  Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3  Customer Analysis

4.4. Porters Five Force Model

                4.4.1. Bargaining Power of Suppliers

                4.4.2. Bargaining Powers of Customers

                4.4.3. Threat of New Entrants

                4.4.4. Rivalry among Existing Players

                4.4.5. Threat of Substitutes

Chapter 5. Structural Foam Market  - Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6. Structural Foam Market – By Materials

6.1. Polyethylene

6.2. Polypropylene

6.3. Polystyrene

6.4. Polyurethane

6.5. Others

Chapter 7 . Structural Foam Market  – By Application

7.1. Material Handling

7.2. Building & Construction

7.3. Automotive

7.4. Electrical & Electronics

7.5. Others

Chapter 8. Structural Foam Market , By Geography – Market Size, Forecast, Trends & Insights

8.1. North America

                8.1.1. U.S.A

                8.1.2. Canada

                8.1.3. Mexico

8.2. Europe

                8.2.1. Italy

                8.2.2. Spain

                8.2.3. Russia

                8.2.4. Germany

                8.2.5. UK

                8.2.6. France

                8.2.7. Rest of Europe

8.3. Asia Pacific

                8.3.1. Japan

                8.3.2. South Korea

                8.3.3. China

                8.3.4. India

                8.3.5. Australia & New Zealand

                8.3.6. Rest of Asia-Pacific

8.4. Rest of the World

                8.4.1. Middle East

                8.4.2. Africa

                8.4.3. South America

Chapter 9. Structural Foam Market  – Company Profiles – (Overview, Product Portfolio, Financials, Developments)

9.1. Company 1

9.2. Company 2

9.3. Company 3

9.4. Company 4

9.5. Company 5

9.6. Company 6

9.7. Company 7

9.8. Company 8

9.9. Company 9

9.10. Company 10

  • Primary & Secondary Sources to Collect & Validate Data

  • Utilization of Both Top Down & Bottom Up Approach

  • Holistic Research Methodology


Scope & Introductory Research

In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.​

Data Collection 

Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders. ​

Data Fusion

At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.

Data Analysis

At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.

Verification ​

Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report. ​

Quality Assurance & Report Preparation​

Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.​

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