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Research analysis on the global engineered foams market identifies that the increasing demand from developing economies will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 8% by 2021. It is observed that the global engineered foam market is witnessing increased growth rates in emerging economies, such as Brazil, China, Russia, Turkey, Indonesia, South Korea, Mexico, and India. China was the major consumer of polystyrene foam and the engineered foam market in India is also expanding significantly due to the rising use as insulating material in refrigerators and in the construction industry. In addition, the engineered foams offer improved moisture resistance and provide long-term, accurate, and high-performance insulation which makes them an ideal choice. The rise in the building and construction, transportation, electronics, and packaging industries in these developing countries will fuel the growth of the engineered foams market globally.
In terms of geographic regions, APAC will be the major revenue contributor of the engineered foams market throughout the forecast period. The increasing demand from military and defense sector and the rapidly growing automotive industry will drive the consumption rates of packaging foams in the region. China, Japan, India, and South Korea are among the top consumers of engineered foam in the automotive segment.
The engineered foams market is highly competitive consisting of both regional and global players. The vendor competition in the custom foam packaging market is based on price, innovation, quality, performance, and customer-centrism. Numerous foam suppliers provide customized solutions that enable consumers to choose from various product offerings.
The leading vendors in the market are -
The other prominent vendors in the market are The Dow Chemical Company, SEKISUI CHEMICAL, Trelleborg, INOAC CORPORATION, Foamcraft, FoamPartner, and Woodbridge Foam Corporation.
During 2016, the polyurethane segment accounted for the major shares of the engineered foams market. Factors such as the low cost and ease of handling will contribute to the growth of this industry segment in the coming years. Also, polyurethane has a huge scope for product development for applications in which repeated flexing occurs due to its tensile strength.
As per this market research report, the aerospace and defense segment will hold the maximum share of the custom foam packaging market until 2021. Engineered foams are used as shock absorbers and thermal protectors for applications in the defense and aerospace sector. In addition, these foams are also used for underwater missile applications by leading defense contractors. These benefits will drive the growth of the engineered foams market in this segment.
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Synthetic lubricants are primarily composed of synthetic base oil, thickeners, and additives that provide oil lubricants and grease multiple performance advantages in comparison to the conventional mineral based lubricants. This upcoming research report on the global engineered foams market offers insights into the major trends and forthcoming drivers influencing the growth of the chemicals and materials industry. Our reports for the chemicals and materials industry also follow a scrupulous data collection methodology and presents an analysis of fast growing market segments like plastics, polymers, and elastomers.
Moreover, to achieve higher accuracy, our industry experts implement an extensive research approach of quantitative and qualitative data collection methods and assess the changing demand-supply landscape of the plastics, polymers, and elastomers sector. The key advantage gained from the adoption of this approach is better statistical models and vendor analysis. By taking into account the market change and size, surging demand for multiple segments of the plastics, polymers, and elastomers sector, the market research professionals at Technavio present an all-inclusive picture of the engineered foams market from 2017 to 2021.
This forthcoming market research report on the engineered foams market also covers vendors like BASF, DOW, Bayer, Huntsman, Sekisui Chemicals, and Rogers Corporation. Our industry analysts believe that the steady rise in space research activities across the globe is expected to impact the global market significantly during the next few years. Furthermore, to present clients the scope to identify potential market opportunities and expand in niche markets, this report on the engineered foams market also covers geographies like the Americas, APAC, and EMEA.
The upcoming industry research report for the engineered foams market also categorizes the prominent drivers, major trends, along with the imminent restraints that the plastics, polymers, and elastomers sector currently experiences. This upcoming report on the engineered foams market also presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the chemicals and materials industry. Technavio also offers in-depth market assessments into the sectors such as specialty chemicals, paints, coatings, and pigments, and olefins.
Our market research methodology for the engineered foams market
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Market segmentation by application
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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