The Industrial Foam Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Industrial Foam Global Market Report 2024, The industrial foam market size has grown strongly in recent years. It will grow from $63.14 billion in 2023 to $68.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to research and development, cost-effective material solutions, globalization and market expansion, transportation and aerospace, environmental concerns and sustainability.

The industrial foam market size is expected to see strong growth in the next few years. It will grow to $91.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to construction industry growth, sustainable materials and eco-friendly solutions, rising automotive sector, packaging innovations, energy efficiency in buildings. Major trends in the forecast period include circular economy initiatives, furniture and bedding preferences, electronics and electrical applications, healthcare and medical innovations, stringent regulatory compliance.

Growing demand for energy-efficient and lightweight materials is expected to propel the industrial foam market. Lightweight materials are manufactured using lightweight raw materials that directly reduce the weight of the material while maintaining its performance. Industrial foam is a type of lightweight material made up of tiny cells filled with gas or air and used in applications such as insulation, packaging, and construction. For instance, in July 2021, according to a report released by EuroAccess, a France-based online information and search tool, the manufacturing costs of lightweight materials are 25% less than current materials. Lightweight products comprise more than 50% sustainable and bio-based components. The various properties of energy-efficient and lightweight materials, including sustainability and high performance, are increasing the demand for industrial foams by various industries. Therefore, the growing demand for energy-efficient and lightweight materials is driving the growth of the industrial foam market.

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The industrial foam market covered in this report is segmented –
1) By Foam Type: Flexible, Rigid
2) By Resin Type: Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, Other Resin Types
3) By End-Use: Building And Construction, HVAC, Industrial Pipe Insulation, Marine, Aerospace, Industrial Cold Storage, Others End-Uses

Technological advancements are the key trends gaining popularity in the industrial foam market. Major companies operating in the market are focused on developing new technological solutions to lead the market. For instance, in May 2022, BASF SE, a Germany-based chemicals company introduced Elastoflex CE 3651/108, a 100% water-blown and high flame retardant polyurethane insulation spray foam based on a flam retardant technology to provide better interior air quality in public transportation. It is a low-odor spray foam system that optimizes the performance and cost of the final product.

The industrial foam market report table of contents includes:
1. Executive Summary
2. Industrial Films Market Characteristics
3. Industrial Films Market Trends And Strategies
4. Industrial Films Market - Macro Economic Scenario
5. Global Industrial Films Market Size and Growth
…..
31. Global Industrial Films Market Competitive Benchmarking
32. Global Industrial Films Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Films Market
34. Industrial Films Market Future Outlook and Potential Analysis
35. Appendix

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