Rigid Foam Market Size & Growth Analysis to 2030

The global rigid foams market size is anticipated to grow at a significant CAGR of over 7% during the forecast period 2021 to 2027. The sustainable demand for the product in the building and construction industry is one of the key factor to drive the market growth. Furthermore, the growing demand for rigid foams in the automotive and appliances sector is further expected to fuel the market growth over the forecast period. Moreover, the increasing application of the product in healthcare and the rising demand in the chemical and petrochemical industry is anticipated to drive market growth. However, the stringent environmental regulations and low availability of raw materials are some factors to restrain the market growth.

Market Drivers:

Construction and Building Industry: The construction and building industry is a major driver of the rigid foams market. Rigid foams, such as polyurethane (PU) foam and polystyrene (PS) foam, are widely used as insulation materials in residential, commercial, and industrial buildings. They provide excellent thermal insulation properties, reduce energy consumption, and enhance the overall energy efficiency of structures. The growing construction activities, infrastructure development, and increasing demand for energy-efficient buildings drive the demand for rigid foams in the construction industry.

Increasing Demand for Lightweight Materials: Rigid foams are lightweight materials that offer high strength-to-weight ratios. They are used in various applications where weight reduction is crucial, such as transportation (automotive, aerospace, marine) and packaging industries. The need for fuel efficiency, reduced emissions, improved vehicle performance, and cost savings drives the demand for lightweight materials like rigid foams.

Growth in Refrigeration and Appliances Industry: The refrigeration and appliances industry is a significant driver for the rigid foams market. Rigid foams are widely used as insulation materials in refrigerators, freezers, air conditioners, and other appliances to improve energy efficiency and maintain temperature control. The increasing demand for refrigeration and appliances, driven by factors such as rising disposable incomes, changing lifestyles, and technological advancements, fuels the demand for rigid foams.

Expansion of Cold Chain Logistics: The expansion of cold chain logistics, including temperature-controlled storage and transportation of perishable goods, drives the demand for rigid foams. Rigid foams provide excellent thermal insulation properties and help maintain the desired temperature conditions during storage and transportation of food, pharmaceuticals, and other temperature-sensitive products. The increasing demand for safe and efficient cold chain logistics infrastructure contributes to the growth of the rigid foams market.

Focus on Energy Conservation and Environmental Sustainability: The focus on energy conservation and environmental sustainability drives the adoption of rigid foams. Rigid foams, especially those with high thermal insulation properties, help reduce energy consumption in buildings and industries by minimizing heat transfer. This leads to lower greenhouse gas emissions and contributes to sustainability goals. Additionally, rigid foams can be recycled and reused, offering environmental benefits and aligning with circular economy principles.

Technological Advancements in Foam Manufacturing: Technological advancements in foam manufacturing processes have improved the properties and performance of rigid foams. Innovations in blowing agents, additives, and production techniques have led to the development of high-performance rigid foams with enhanced thermal insulation, fire resistance, moisture resistance, and mechanical strength. These advancements expand the application potential of rigid foams and drive market growth.

Stringent Building Codes and Standards: Stringent building codes and standards related to energy efficiency and insulation requirements influence the demand for rigid foams. Governments and regulatory bodies enforce building regulations that mandate the use of energy-efficient materials and insulation systems. Compliance with these codes and standards drives the adoption of rigid foams in the construction industry, particularly for insulation purposes.

Increasing Awareness about Energy Efficiency: Growing awareness among consumers, businesses, and governments about the importance of energy efficiency is a significant driving factor for the rigid foams market. The emphasis on reducing energy consumption, lowering carbon footprint, and mitigating climate change motivates the adoption of rigid foams for thermal insulation applications. Education campaigns, energy efficiency labeling programs, and government initiatives promoting energy-efficient practices and products contribute to the demand for rigid foams.

Market Snapshot:

Market Insights:

The global rigid foam market is bifurcated into type, application, end-use industry, and geography. On the basis of type, the market is further segmented into Polyurethane, Polystyrene, Polyethylene, and Others. The polyurethane segment dominated the global market in 2020 and accounted to hold the largest revenue share of around 90% of the market by the end of the analysis period. The wide use of the product in various applications such as building & construction, packaging, automobile, and appliances is one of the key factor to drive the market. Furthermore, the properties associated with the polyurethane rigid foam such as high strength, excellent insulation, and heat stability is expected to increase the demand for the product over the forecast period.

On the basis of application, the market is segmented into building & construction, appliances, packaging, automobile, and others. The building and construction segment dominated the global rigid foam market in 2020 and is estimated to maintain its dominance over the forecast period. The increasing construction activities in developing and developed economies are one of the major factor to drive the segment growth. Furthermore, the rising concern regarding insulation and energy saving is further anticipated to drive the segment growth over the forecast period.

To know more about the report, request sample papers

The rigid foams comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The rigid foams market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Polyurethane
• Polystyrene
• Polyethylene
• Others

By Application:

• Building & Construction
• Appliances
• Packaging
• Automobile
• Others

By End-Use Industry:

• Chemical and Petrochemical
• Oil & Gas
• Energy & Power
• Automotive
• Food & Beverages
• Healthcare
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the Asia Pacific dominated the global rigid foam market in 2020 and accounted to hold the largest revenue share of over one-third of the market share by the end of the analysis period. The increasing research and development activities and the presence of some major market players are some of the prominent factors to drive the market growth in the region. Furthermore, the rapid growth in industrialization and better economic growth in developing economies are further anticipated to fuel the market growth in the Asia Pacific.

Competitive Assessment

Some of the leading market players operating in the global rigid foams market are Huntsman International LLC., Dow, BASF SE, Huntsman International LLC., and Covestro AG. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Huntsman International LLC.
• Dow
• BASF SE
• Huntsman International LLC.
• Covestro AG
• SAFCO Foam Insulation
• Lapolla Industries, Inc.
• Saint-Gobain Group.
• CAJUN FOAM INSULATION
• EnergyGuard Foam Insulators

Key Questions Answered by Rigid Foams Market Report

• Global rigid foams market forecasts from 2021-2027
• Regional rigid foams market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Rigid foams submarket forecasts from 2021-2027 covering the market by type, by application, by end-use industry, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about rigid foams market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level rigid foams markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the rigid foams market