Foam plastics are resins used in manufacturing polymer foams, which are used in various end-use industries such as building & construction, furniture & bedding, packaging, and automotive among others. The foam plastics market is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8% between 2020 and 2025. APAC is the largest consumer of foam plastics. The overall growth of the market is triggered by the growth of major end-use industries of foam plastics and energy sustainability and energy conservation properties of foam plastics.
To know about the assumptions considered for the study download the pdf brochure Recent Developments
APAC is the leading market for foam plastics. The growth in the region is fueled by the booming economies of China, India, Indonesia, and Vietnam. PU resin based foams are the preferred choice in the building & construction industry in APAC. It is in high demand, as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. APAC is a rapidly developing region with growth opportunities for companies willing to invest in high-growth markets. The key players profiled in the foam plastics market report are BASF SE (Germany), Covestro (Germany), Huntsman International LLC (US), The Dow Chemical Company (US), and Wanhua Chemical Group Co., Ltd. (China).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
July 2022
Categories |