Rigid Foam Market Size, Trends & Growth to 2027

Rigid Foam Market to 2027 - Global Analysis and Forecasts By Type (Polyurethane Foam, Polystyrene Foam, Polypropylene Foam, Polyethylene Foam, Polyvinyl Chloride Foam, and Others), End Use Industry (Building & Construction, Appliances, Packaging, Automotive, and Others)

Publication Month : Dec 2019

  • Report Code : TIPRE00005351
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 144
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[Research Report] The rigid foam market accounted to US$ 73,786.7 Mn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 - 2027, to account to US$ 131,558.9 Mn by 2027.

Rigid foams are known to possess various properties such as waterproofing, anti-static, anti-vibration, and anti-skid, which makes them ideal material to be used across many industrial, as well as construction industries. Rigid foam protects the concrete surfaces onto which they are applied and are responsible for extending the life of the underlying concrete floors. They are inert to oils, detergents and cleaners, transmission fluids, water, hail, snow, and corrosive chemicals. Rigid foam is also used to improve the aesthetic appeal of the floor. They are available in a number of colors, shades, and textures. Metallic pigments, and vinyl color flakes are added to the rigid foam systems to produce surfaces with iridescent colors. The aesthetic appeal of colorful rigid foam is expected to drive the market for rigid foam and is increasingly being used in new housing projects and renovation of old houses.

In 2018, APAC held the largest share of the global rigid foams market. This growth of the market in APAC is primarily attributable to the presence of major rigid foam manufacturers in the region. Also, the rising production activities of rigid foam is expected to fuel market growth during 2019–2027. In Asia Pacific, China accounted for the largest share of rigid foams in terms of revenue generated.


Global Rigid Foam Market

Global Rigid Foam Market
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Market Insights

Adoption of New Poly(lactide-urethane-isocyanurate) Foams Based on Bio-Polylactide Waste

Rapid advancements in the field of polymer have been witnessed with increase in production of plastics and polymers in recent years. An upward trend in the polymer industry is expected to generate high proportion of polymer waste. Further, new rules and regulations have been formed in the wake of environmental protection, which are driving the scientists and entrepreneurs to look for alternative solutions to manage and treat plastic waste or adoption of biodegradable plastics which could decompose in the natural environment. Amongst, several types of biodegradable plastics produced across world, Polylactide (PLA) is perceived to be one of the preferred form of bioplastics. The waste generated from these plastics can easily be processed into a full-value product such as rigid polyurethane-polyisocyanurate (RPU/PIR) foams. Such foams produced from biodegradable polylactide are treated as sustainable solutions. According to a study presented by Europe PMC, polylactide can partially replace petrochemical polyol in formulation of polyisocyanurate. Also,the obtained PIR foams possess several characteristics such as minimal apparent density, brittleness, and water absorption capability.  Therefore, the use of PLA polyol composed of plastic waste can be a great alternative to petrochemical polyols. Such developments help to manage the scarce resources and helps in effective utilization of wastes. Moreover, the products produced from such biomaterial are considered to be environment-friendly solutions.

Type Insights

Based on type, the rigid foam market is bifurcated based on polyurethane foam, polystyrene foam, polypropylene foam, polyethylene foam, polyvinyl chloride foam, and others. The polyurethane foam segment dominated the global rigid foam market. Rigid polyurethane foam is widely used in refrigeration, construction, and packaging industry owing to its superior insulation properties and good dimensional stability.

Global Rigid Foam Market, by Type – 2018 and 2027

Global Rigid Foam Market, by Type – 2018 and 2027
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End-Use Industry Insights

The rigid foam market is bifurcated based on end-use industry into building & construction, appliances, packaging, automotive and others. The building & construction segment accounted for the largest share in the global rigid foam market. Their use in the construction of houses and buildings reduces the energy needed for heating and cooling the interior spaces of buildings, shops, and offices. The growing consumption of rigid foams by the construction & building sector is expected to support the growth of the global rigid foam market during the forecast period.   

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Rigid Foam Market: Strategic Insights

rigid-foam-market
Market Size Value inUS$ 73,786.7 Million in 2018
Market Size Value byUS$ 131,558.9 Million by 2027
Growth rateCAGR of 6.7% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Several strategies are commonly adopted by companies to expand their footprint worldwide. Huntsman Corporation., Covestro, BASF SE. are among the key players in the global Rigid Foam market implementing these strategies to enlarge the customer base and gain significant share, which, in turn, allows them to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the rigid foam market help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the rigid foam market from 2017 to 2027
  • Estimation of rigid foam demand across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
  • Recent developments to understand the competitive market scenario and rigid foam demand
  • Market trends and outlook coupled with factors driving and restraining the growth of the rigid foam market
  • Understanding of strategies that underpin commercial interest with regard to rigid foam market growth, which facilitates decision-making process for stakeholder’s rigid foam market size at various nodes of market
  • Detailed overview and segmentation of the rigid foam market, as well as its dynamics in the industry

Global Rigid Foam Market – by Type

  • Polyurethane foam
  • Polystyrene foam
  • Polypropylene foam
  • Polyethylene foam
  • Polyvinyl chloride foam
  • Others

Global Rigid Foam Market – by End-Use Industry

  • Building & Construction
  • Appliances
  • Packaging
  • Automotive
  • Others

Company Profiles

  • Saint-Gobain
  • Dow Chemical Corporation
  • BASF SE
  • Borealis AG
  • Sekisui Chemical Co.,Ltd
  • Covestro AG
  • Armacell International S.A.
  • Huntsman International LLC
  • JSP
  • Zotefoams Plc
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , End Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions


By type, which was the leading type to hold the largest share in the market and by what CAGR?

The leading type of rigid foam was the polyurethane foam that was noted to account for a CAGR of 6.6%. Rigid polyurethane foam (PUF) is regarded as an efficient insulation material that is used to save energy. They have one of the highest thermal resistance value per inch of all commercially available insulating materials. The growing demand for polyurethane foam can be attributed to the rise in the consumption of insulation materials used in the building and construction sector and the HVAC and refrigeration industries.

Which was the region to account the largest share for the rigid foam market?

The Asia Pacific region led the rigid foam market with a market share of 44.4% in 2018. The continuous economic growth in developed and developing countries like India and China, coupled with the presence of huge disposable incomes with individuals in countries like Japan and Australia, has facilitated the rapid growth of the automotive industry in this region. The Asia Pacific is one of the world’s rapidly growing automotive markets, with China accounting for maximum car production. The rapid growth in industrialization and urbanization in the economy is positively impacting the growth of the rigid market in the APAC region. Moreover, the market for rigid foam is expected to rise with the growth of end-use industries.

What is the major driving factor to favor the rigid foam market all over the globe?

Growing demand for rigid foam in the building and construction industry is one of the factors that has contributed to favor the rigid foam market all over the globe. Rigid foam sheaths are used as insulation materials to control indoor temperature and thereby reduce the building’s energy consumption. Rigid foams made from expanded polystyrene (EPS), extruded polystyrene (XPS), and polyisocyanurate are valued for their thermal insulation properties and offer durability and moisture control.

The List of Companies

  1. ARMACELL INTERNATIONAL HOLDING GMBH
  2. BOREALIS AG
  3. COMPAGNIE DE SAINT-GOBAIN S.A.
  4. Covestro AG
  5. Dow Chemical Corporation
  6. Huntsman International LLC
  7. JSP
  8. BASF SE
  9. SEKISUI CHEMICAL CO., LTD.
  10. ZoteFoams Plc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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