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Emerging markets, including India and China, are driving the growth of the global high performance foam market, which is projected to reach $ 2.026 billion by 2020, registering a CAGR of 9.9 percent between 2015 and 2020, according to a MarketsandMarkets report.
The drivers of the high performance foam (polyurethane, silicone, polyolefin, etc) are increase in the demand from end user industries such as automobile, construction, electronics, and others from emerging countries such as China, India, and Brazil. The Asia-Pacific and rest of the world (RoW) markets are estimated to show a high growth in the next five years with the allied industries expected to stabilise the overall business need in the respective regions. China, US, Japan, India, and Germany are expected to persist as successful high performance foam markets.
“The global high performance foam market is experiencing good growth and is expected to continue so in the near future. This growth is mainly driven by the fast growing demand in Asia-Pacific and RoW regions. The major share of the total high performance foam market demand was consumed by the transportation industry in 2014,” said MarketsandMarkets in a press release.
The global high performance foam market has witnessed a good growth in the past few years and this growth is estimated to increase in the coming years. High performance foam has certain unique properties such as excellent recoverability from repeated shocks and deformations and ability to maintain dimensional stability after getting exposed to shock, impact, and extreme temperature. Because of these physical characteristics, the demand for high performance foam is growing and is finding application in various industries.
