Research Nester published a report titled “Technical Foam Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the technical foam market in terms of market segmentation by form, by material, by end-use, and by region.
Global demand for technical foam is flourishing rapidly owing to its crucial application in numerous industries such as the automotive & transportation sector and the mounting demand for acoustic solutions to confront noise pollution.
The technical foam market is estimated to witness notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by form, material, end-use, and region. Among product end-use, the automotive & transportation segment accounted for the major share of the technical foam market. The insulation assistance provided by technical foam in automotive & transportation contains heat protection, battery insulation, fire safety, and insulation for data recorders. Fireproofing of the framework and interiors is a crucial part of vehicle safety. High-temperature insulation expands vehicle safety, supports progressive technological vehicle constituents, and outspreads the useful lifespan of vehicles on the road, air, and water.
Regionally, the technical foam market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Technical foam manufacturers in North America and Europe are growing their business in the Asia Pacific region, and there is a substantial information transfer taking place between developed and evolving countries through active engagements in different forums.
The Europian market led by the UK, Germany, and France, is predicted to observe a stable growth during the forecast period on account of growing household spending on the automobile and other associated sectors in the region.
The Asia Pacific is projected to account for the largest share of the global technical foam market followed by Europe and North America and China is foreseen as the largest automotive sector. The market in Asia Pacific regions is observing significant growth owing to the industrial expansion in the region and its refining economic conditions. Additionally, the growing aging populace, increasing health care expenditure, and rising economic standards in developing economies of China, Japan, and India are projected to drive regional growth in the forecast period.
Favorable properties to boost the overall market growth
Technical foams are witnessing soaring demand in the automotive & transportation industry owing to their properties such as durability, lightweight, versatility, resistance to corrosion & vibration, recyclability, and dimensional stability.
Several technological developments such as the introduction of bio-based polyols and non-hazardous isocyanates are also estimated to stimulate technical foam demand in copious applications.
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However, the detrimental health effects of isocyanates used in the production of polyurethane have attracted the concerns of various government and federal organizations, which is anticipated to hinder the growth of the market during the forecast period. Further, the outbreak of COVID 19 has brought upon numerous negative impacts on the technical foam industry.
This report also provides the existing competitive scenario of some of the key players of the technical foam market which includes company profiling of Sekisui Chemical Co., Ltd. (TYO: 4204), DOW (NYSE: DOW), Huntsman International LLC (NYSE: HUN), Trelleborg AB (STO: TREL-B), Armacell, Recticel NV/SA (EBR: REC), Inoac Corporation, UFP Technologies, Inc. (NASDAQ: UFPT), FXI Holdings, Inc., and BASF SE (ETR: BAS). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the technical foam market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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