Global Foam Core Materials Market 2018-2022
About Foam Core Materials
Foam core materials are one of the commonly used core materials. These core materials are manufactured using polyurethane, polystyrene, polyvinylchloride, and other foams. Foam core materials possess excellent physical properties, moisture resistance, and resistant to the temperature difference.
Technavio’s analysts forecast the global foam core materials market to grow at a CAGR of 6.35% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global foam core materials market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of foam core materials.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Foam Core Materials Market 2018-2022
Technavio recognizes the following companies as the key players in the global foam core materials market: Carbon-Core, CoreLite, Diab, Evonik, Gurit, and SCHWEITER TECHNOLOGIES
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is green bonds fueling demand for the market. Green bonds are tax-exempted bonds reserved for green investments. Several banks have issued green bonds to gain access to a specific set of global investors who invest in green ventures. For instance, the Korean Development Bank had issued a green corporate bond for the renewable energy projects worth $300 million in July 2017. Also, the National Bank of Australia had issued green bonds in the connection to a range of seventeen wind and solar farms. These green bonds are expected to foster the growth of the global wind energy market. The issuing of such bonds is driving the installation of wind turbines. As green bonds can be liquified quickly, they offer a protective umbrella for clean energy and wind energy investors. In addition, these bonds enable companies to be a part of the liquid green bonds asset class, and thereby, offering admission into a broader investor base by providing a reduced cost of capital.”
According to the report, one of the major drivers for this market is Growth in the shipping industry. Maritime transport is vital to the world’s economy as more than 90% of the trade is carried out via the sea route. In 2015, the World Trade Organization (WTO) estimated that the seaborne freight accounted for more than 30% of the world transport. In 2015, in terms of volume, the estimated world seaborne trade was 10 billion tons. With the growing globalization, the maritime transport facilitates industrial development by supporting growth in the manufacturing industries, promoting trade integration, and aiding economic growth. In 2015, in terms of volume, dry cargo shipments accounted for a share of more than 70% of the total seaborne trade, while the remaining share was contributed by tanker trade such as crude oil, petroleum products, and gas.
Further, the report states that one of the major factors hindering the growth of this market is Economic downturns. The macroeconomic factors will indirectly hamper the demand for foam core materials in many enduser industries. These factors include the aftereffects of the global economic recession (2008-2009), the uncertain nature of Brexit, and the new administration in the US. These factors have led to a significant decline in the investments by the manufacturing industries, due to new policies and uncertain ROI. Some of the European countries are still recovering from the Eurozone crisis (2008-2009), which has resulted in the low investments in the manufacturing sector because of the financial constraints. Also, post-Brexit there are changes happening in the trade agreements between the UK and the EU countries.
Carbon-Core, CoreLite, Diab, Evonik, Gurit, and SCHWEITER TECHNOLOGIES