Technical Foam Market Trends

Growth Drivers

• Large scale use of technical foam in the automotive sector
  Polyurethane (PU) foams encompass properties such as durability, lightweight, versatility, resistance to corrosion & vibration, recyclability, and offer a high level of freedom in an orderly design. PU is progressively used in numerous passenger car seat cushions, gasket seals, armrests, headrests, cushioned instrument panels, airbags, and other constituents to create lightweight, fuel-efficient, and durable assemblies. Owing to the above features and their wide application scope, technical foams are anticipated to witness significant demand in the automotive industry.
  
  Expanded foam is one of the lightest resources and as a result of its high strength to weight ratio, it is used in packaging applications as it outcomes in low fuel consumption and transport budget savings. It can furthermore be used in rail applications, such as the manufacture of train station platform extensions and rail embankment.
• Beneficial properties
  The environmental assistance of polymer foam contains high recyclability, clean incineration for pollutant purification, abridged wastage, and superior sustainability.
  
  Additionally, various technological advancements such as the introduction of bio-based polyols and non-hazardous isocyanates, are also expected to promote technical foam demand in numerous applications. Existing and new market entrants are hence compelled to transform or improve their existing production processes to gain greater margins in this extremely competitive industry.

Challenges

Some government and federal organizations are gradually raising concerns concerning the detrimental health effects of isocyanates used in polyurethane production which is however anticipated to pose a challenge for the growth of the market during the forecast period.

The current outbreak of COVID 19 has forced many industries to shut down their factories halting the production process coupled with the halt in global supply chain management that could impact negatively on the overall market growth of technical foams.