Global Rigid Foams Market 2017-2021
About Rigid Foams
Rigid foams are highly cross-linked, closed cell, cellular, thermoset plastic of low density. They possess excellent insulating properties due to the low thermal conductivity of the blowing agents contained in the cells. Rigid foam is a type of polymer foam, which can be broadly classified under thermosets and thermoplastics. It is used in a broad range of applications such as building and construction, appliances, and packaging.
Technavio’s analysts forecast the global rigid foams market to grow at a CAGR of 6.13% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global rigid foams market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rigid Foams Market 2017-2021
Technavio recognizes the following companies as the key players in the global rigid foams market: BASF, Covestro, Huntsman International, Saint-Gobain, and The Dow Chemical Company.
Other Prominent Vendors in the market are: Armacell, Europur, Foam Partner, FXI, JSP, Rogers Corporation, Recticel, Ube Industries, Vita Group, Woodbridge Foam Corporation (The Woodbridge Group), and Zotefoams.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in R&D activities. The major rigid foam players have increased their R&D spending to reduce the manufacturing cost and to provide products with enhanced properties. Growing R&D spending is a major trend in the global rigid foams market.”
According to the report, one driver in the market is high demand from construction industry. The global building and construction industry output is anticipated to grow by more than 80% to $15.5 trillion in 2030 and countries such as India, China, and the US are expected to have a share of more than 50% of the global market. The transformation of the economy to a consumer and service centered has provided opportunities for the growth of construction in education, healthcare, and commercial building.
Further, the report states that one challenge in the market is volatility in raw material prices. Raw materials such as polyol and diisocyanates (TDI and MDI) are the major raw materials to produce rigid foams, especially polyurethane rigid foams. Several chemicals that are used in manufacturing foams are derived from crude oil from the petroleum fraction. The oil and gas industry is one of the principal suppliers of raw materials for the global rigid foams market.
BASF, Covestro, Huntsman International, Saint-Gobain, The Dow Chemical Company, Armacell, Europur, Foam Partner, FXI, JSP, Rogers Corporation, Recticel, Ube Industries, Vita Group, Woodbridge Foam Corporation (The Woodbridge Group), and Zotefoams.
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