Rigid Foam Market Synopsis

Rigid Foam Market Size Was Valued at USD 49.82 Billion in 2023 and is Projected to Reach USD 104.68 Billion by 2032, Growing at a CAGR of 8.6% From 2024-2032.

• Foam is a complicated structure made up of gas bubbles surrounded by a liquid or solid material, displaying characteristics of both liquid and solid substances. Foam's behavior is determined by its structure, which can be found in common items such as soaps and mattresses. Thinner walls result in a temporary foam with liquid-like properties, whereas thicker walls produce a permanent foam with solid-like characteristics. The foam serves crucial functions in society, with applications in food technology and firefighting.
• Rigid foams represent a highly versatile class of expanded thermoset materials that find application in a wide range of industrial products such as carpet backings, mattresses, insulation panels, and refrigerators. Within this spectrum, closed-cell rigid foams are an important sub-class owing to their outstanding thermal insulation properties when expanded with suitable blowing agents of low thermal conductivity.
• There are several added advantages that, alone or in combination, are often decisive to the selection of rigid foams in a particular application or process environment. The most important advantages are their high mechanical strength, strong adhesive propensity, and above all, easy processability. The combination of all three is particularly apparent in e.g. refrigerators and sandwich panels where rigid foam is virtually unmatched. Easy processability allows pour-in-place manufacturing of foams, even in molds of highly complex shapes and forms.Growing need for foam driven by creative uses in various sectors increases consumer attraction.

Rigid Foam Market Trend Analysis

The current trend is the growth of eco-friendly foam in soundproofing, sports, customization, and footwear.

• The foam industry is shifting towards eco-friendly materials due to environmental and regulatory factors. Producers develop environmentally friendly foams using renewable and recyclable materials to satisfy both consumer demand and corporate sustainability objectives. This trend is in line with the worldwide effort to promote circular economies and sustainable development. The need for soundproofing in buildings has risen due to the growth of urbanization. Foam materials are commonly used for soundproofing, as they absorb sound waves and decrease environmental noise. This is essential in offices, studios, theaters, and homes to ensure comfort and efficiency. Understanding how noise pollution affects health motivates the necessity for soundproofing solutions.
• Foam is being more and more utilized in sports gear to enhance safety and performance, such as in helmets, body armor, and items like yoga blocks for added comfort and stability. Customizable foam solutions are becoming more popular for particular applications such as personalized packaging inserts and medical implants. These foams are designed to meet specific requirements, providing accurate sizing and performance. They safeguard delicate items while in transit and offer relief and specialized support for orthopedic requirements, spurred by advancements in manufacturing technologies.
• The shoe industry is integrating memory foams made from polymers into shoe soles in order to offer customized comfort and support by adjusting to the shape of the foot. This new development alleviates pressure points, enhances foot health, and is widely favored in both athletic and everyday footwear, showing a shift toward customized product design.Foam materials are being more and more utilized in healthcare for padding, assistance, and cleanliness in medical equipment, bedding, patient positioning systems, wound care items, and orthotics, as a result of an aging population and advancements in the medical field.

Consumer demand to reduce carbon footprint is driving foam technology advancements in construction, automotive, packaging, and healthcare.

• The rising need for eco-friendly materials presents a significant opportunity for the foam sector. Consumers are choosing products with a decreased carbon footprint due to the worldwide push to lower plastic pollution and dependence on fossil fuels. Increasing construction activity in developing countries is fueling the need for rigid foam insulation. Urbanization and the expansion of infrastructure increase demand for buildings that are energy efficient. Foam advancements improve applications in the construction sector.
• Demand for lightweight materials in various components is fueling growth in the foam market, thanks to the automotive industry. Memory foams are becoming increasingly popular in car interiors due to their comfort and sustainability features. Foam materials are highly sought after in the packaging sector because of the increase in e-commerce. Stiff foams provide padding and reinforcement for delicate objects. Customizable and sustainable choices are becoming more and more popular.
• Advancements in foam technology could lead to the emergence of new markets. Sustainable, flame-retardant, top-performing foams enable a variety of uses. Tailored solutions are designed to meet the unique needs of different industries. CNC cutting and 3D printing technologies improve personalization. The foam industry is being driven by increasing need for comfortable, supportive, and hygienic materials in the healthcare sector. Foams are crucial in medical uses such as mattresses, wound care, and orthopedic supports, fulfilling the requirements of patients.

Rigid Foam Market Segment Analysis:

Rigid Foam Market Segmented based on Foam Type, Form, Function, End-use.

By Foam Type, Polyurethane Segment Is Expected to Dominate the Market During the Forecast Period

• Polyurethane foam provides outstanding insulation qualities due to its excellent thermal resistance and minimal thermal conductivity. Ideal for refrigeration units, buildings, and packaging materials, this product efficiently keeps cold temperatures, helps create energy-efficient buildings, and safeguards delicate items during transportation.Polyurethane foam's exceptional dimensional stability and structural integrity are due to its high crosslinking density and closed-cell structure. This is crucial for sustained effectiveness in construction, automotive, and packaging, guaranteeing proper insulation, energy absorption, and product protection in different situations.
• Polyurethane foam is flexible in various sectors, serving purposes such as thermal insulation, soundproofing, and sealing in construction, comfort and weight reduction in automotive parts, protective packaging for fragile objects, upholstery in furniture, and cushioning in healthcare equipment, showcasing its versatile characteristics and usefulness.Polyurethane foam is light but durable, making it well-suited for the construction, automotive, aircraft, aerospace, and packaging sectors. It decreases the weight of vehicles, lowers shipping expenses, and provides insulation while maintaining durability and performance.
• The market share of PVC foam is growing because of rising demand, advancements in technology, and evolving regulations. It is widely used in signage, packaging, marine, and other industries due to its stability, resistance to weather, and user-friendly nature. Enhanced manufacturing techniques have boosted efficiency and environmental friendliness, appealing to a greater number of customers in search of long-lasting, sustainable materials.Polyurethane foam is preferred in the automotive, construction, furniture, and healthcare sectors due to its ability to absorb energy, provide strength, insulate, offer comfort, last long, and be sustainable. Polyurethane foam continues to be vital for various applications such as safety, lightweight components, insulation, upholstery, medical devices, and sustainability efforts due to industry growth and efficiency standards influencing global demand.

By End-use, Building & Construction Segment Held the Largest Share In 2023

• Rigid foam plays a crucial role in construction by providing thermal insulation and minimizing heat transfer in walls, roofs, and floors. It results in efficient buildings, decreased bills, and ideal conditions in homes, businesses, and factories, per worldwide norms.Rigid foam provides excellent soundproofing capabilities for houses, offices, and factories. It minimizes noise transfer between rooms and from external sources, improving both privacy and comfort and fostering pleasant surroundings.
• Rigid foam provides support and stability to building parts, having a high compressive strength to withstand heavy loads without bending. Ideal for foundations, walls, and roofing, it cuts down on labor expenses and construction duration while also improving effectiveness and longevity. Furthermore, its ability to withstand environmental pressure guarantees lasting strength.Rigid foam has various applications in residential, commercial, and industrial construction, serving as insulation for walls, roofs, foundations, and SIPs. Its versatility is suitable for a range of projects across the globe.
• The construction sector's focus on energy efficiency and sustainable methods increases the demand for rigid foam insulation. It assists in decreasing energy usage, reducing greenhouse gas emissions, and complying with eco-friendly construction guidelines.Stiff foam is necessary to comply with stringent building codes, regulations, and energy efficiency mandates. It also improves fire safety, adherence to regulations, and sustainability in contemporary construction endeavors.

Rigid Foam Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• The increasing industrialization in Asia-Pacific, particularly in China and India, is boosting the need for rigid PU foam in the construction sector. Urban expansion and infrastructure initiatives increase the demand for PU foam, strengthening the area's dominance in the market.Rapid expansion of the automotive sector in Asia-Pacific, especially in China and India. Increased production and consumer demand in the automotive sector has led to a growing use of rigid PU foam for seating, insulation, and soundproofing.The construction sector in the Asia-Pacific region is booming thanks to the implementation of extensive projects and infrastructure growth. Rigid PU foam is essential due to its insulation, energy efficiency, and durability, which are supported by significant investments and government actions.
• Increasing consumer incomes and urbanization in Asia-Pacific are driving the growth in demand for household and industrial appliances. Rigid PU foam is commonly used for insulation in refrigerators and freezers.Asia-Pacific is strong in materials science and has achieved success in creating high-quality rigid PU foam. Businesses allocate funds towards research and development for cutting-edge products to cater to the needs of the construction, automotive, and appliances industries.
• The rising emphasis on environmental sustainability in Asia-Pacific is causing a higher use of energy-efficient materials, such as rigid PU foam. Governments put in place rules and rewards to encourage sustainable behaviors. The strategic location and robust trade connections in the Asia-Pacific region make it an ideal center for the manufacturing and exporting of rigid PU foam, drawing in international businesses and promoting expansion through trade deals.

Rigid Foam Market Active Players

• BASF SE (Germany)
• DOW Chemical Company (U.S.)
• Huntsman Corporation (U.S.)
• Covestro AG (Germany)
• JSP Corporation (Japan)
• Roger Corporation (U.S.)
• Borealis AG (Austria)
• Armacell International S.A. (Luxembourg)
• Sealed Air Corporation (U.S.)
• Zotefoams PLC (U.K.)
• Owens Corning (U.S.)
• Kingspan Group PLC (Ireland)
• Wanhua Chemical Group Co., Ltd. (China)
• Woodbridge Foam Corporation (Canada)
• Saint-Gobain S.A. (France)
• Sekisui Chemical Co., Ltd (Japan)
• Nitto Denko Corporation (Japan)
• Kaneka Corporation (Japan)
• Recticel NV/SA (Belgium)
• SABIC (Saudi Arabia)
• 3M (U.S.)
• Asahi Kasei Chemicals Corporation (Japan)
• Solvay (Belgium)
• Sumitomo Chemical Co., Ltd (Japan)
• LyondellBasell Industries Holdings BV (Netherlands)
• Momentive (U.S.)
• Mitsubishi Chemical Corporation (Japan)
• Chase Corp (U.S.)
• Evonik Industries AG (Germany)
• LANXESS (Germany) and Other Active Players.

Key Industry Developments in the Rigid Foam Market:

• In Apr 2024, Huntsman launches new SHOKLESS™ polyurethane systems to help protect electric vehicle batteries.Automotive experts from Huntsman have added a series of new lightweight, durable polyurethane foam technologies to the company’s battery solutions portfolio that have been developed for the potting and fixation of cells mounted in electric vehicle (EV) batteries. The new range also includes products that can be used as a moldable encapsulant in battery modules or packs.
• In Nov 2022, DuPont announced the termination of the previously announced agreement to acquire the outstanding shares of Rogers Corporation, as the companies have been unable to obtain timely clearance from all the required regulators. DuPont is paying Rogers a termination fee of $162.5 million by the agreement.
• In Oct 2022,BASF Making Insulation More Sustainable. New Elastopor, Elastopir and Elastospray Systems Containing Recycled Plastics.Implementing sustainability across the board is BASF’s stated aim. In the construction industry, there are numerous innovations and improved systems that meet strict criteria for future-proof materials development. Intelligent insulation is a central feature of modern construction.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. RIGID FOAM MARKET BY FOAM TYPE (2017-2032)
   1. RIGID FOAM MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. POLYURETHANE (PU)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. POLYISOCYANURATE (POLYISO OR PIR)
   5. EXTRUDED POLYSTYRENE (XPS)
   6. EXPANDED POLYSTYRENE (EPS)
   7.  POLYSTYRENE FOAM
   8. POLYVINYL CHLORIDE FOAM
7. RIGID FOAM MARKET BY FORM (2017-2032)
   1. RIGID FOAM MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SHEETS OR BOARDS:
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. BLOCKS
   5. MOLDED SHAPES
8. RIGID FOAM MARKET BY FUNCTION (2017-2032)
   1. RIGID FOAM MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. TEMPERATURE MAINTENANCE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FLOTATION
   5. INSULATION
   6. FIRE RESISTANCE
9. RIGID FOAM MARKET BY END-USE (2017-2032)
   1. RIGID FOAM MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BUILDING & CONSTRUCTION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. APPLIANCES
   5. PACKAGING
   6. AUTOMOBILE
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. Rigid Foam Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. BASF SE (GERMANY)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. DOW CHEMICAL COMPANY (U.S.)
    4. HUNTSMAN CORPORATION (U.S.)
    5. COVESTRO AG (GERMANY)
    6. JSP CORPORATION (JAPAN)
    7. ROGER CORPORATION (U.S.)
    8. BOREALIS AG (AUSTRIA)
    9. ARMACELL INTERNATIONAL S.A. (LUXEMBOURG)
    10. SEALED AIR CORPORATION (U.S.)
    11. ZOTEFOAMS PLC (U.K.)
    12. OWENS CORNING (U.S.)
    13. KINGSPAN GROUP PLC (IRELAND)
    14. WANHUA CHEMICAL GROUP CO., LTD. (CHINA)
    15. WOODBRIDGE FOAM CORPORATION (CANADA)
    16. SAINT-GOBAIN S.A. (FRANCE)
    17. SEKISUI CHEMICAL CO., LTD (JAPAN)
    18. NITTO DENKO CORPORATION (JAPAN)
    19. KANEKA CORPORATION (JAPAN)
    20. RECTICEL NV/SA (BELGIUM)
    21. SABIC (SAUDI ARABIA)
    22. 3M (U.S.)
    23. ASAHI KASEI CHEMICALS CORPORATION (JAPAN)
    24. SOLVAY (BELGIUM)
    25. SUMITOMO CHEMICAL CO., LTD (JAPAN)
    26. LYONDELLBASELL INDUSTRIES HOLDINGS BV (NETHERLANDS)
    27. MOMENTIVE (U.S.)
    28. MITSUBISHI CHEMICAL CORPORATION (JAPAN)
    29. CHASE CORP (U.S.)
    30. EVONIK INDUSTRIES AG (GERMANY)
    31. LANXESS (GERMANY) AND OTHER ACTIVE PLAYERS.
11. GLOBAL RIGID FOAM MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Foam Type
       4. Historic And Forecasted Market Size By Form
       5. Historic And Forecasted Market Size By Function
       6. Historic And Forecasted Market Size By End-use
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies
       1. 1. Thailand
          2. Vietnam
          3. The Philippines
          4. Australia
          5. New-Zealand
          6. Rest Of APAC
    3. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    4. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
14. INVESTMENT ANALYSIS
15. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies