Global Technical Foam Market is valued approximately USD 31.3billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.2 % over the forecast period 2020-2027.
Professional foam includes all foam solutions designed for industrial and commercial applications. It involves the use of different rubber as well as polymer blends, produced to achieve application-oriented properties. Applications include sound insulation, filtering, washing, wrapping and sealing. Further, the global market for technical foam is powered by a growth in demand for acoustic and thermal insulation in the automobile and building industries. For instance, as per Statista, the Asia-Pacific region is by far the main market for acoustic and thermal insulation systems for electric vehicles. Japan and South Korea are leading the technology industry, and China continues to be the main consumer and producer of electric cars. Thermal insulation is especially necessary for the use of electric vehicles at cold temperatures, enabling the battery pack to work properly. Furthermore, Foam insulation can help efficiently seal openings and close air escape, preserve indoor air quality, and reduce the energy consumption of buildings. In addition, the significant use of silicone foams in electronics as a lightweight shielding substance has a positive impact on the development of the market. However, high cost impedes the growth of the market over the forecast period of 2020-2027. Also, the production of bio-based polyols is an emerging opportunity for the global technical foam market.

The regional analysis of global Technical Foam market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to urban growth in countries such as India and China, as well as the presence of well-established automobile and electronics industries, are some of the fundamental factors responsible for the largest market share. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising demand for Technical Foam would create lucrative growth prospects for the Technical Foam market across the region.

Major market player included in this report are:
Armacell International S.A.
Covestro AG,
Furukawa Electric Co. Ltd.
Huntsman Corporation
Kaneka Corporation
Recticel, Rogers Corporation
Sealed Air Corporation
Sekisui Chemical Co. Ltd.
Woodbridge Group
Zotefoams Plc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Form:
Flexible
Rigid
Spray
By Material:
Elastomeric
Polyurethane
Polyethylene
Others
By End-user Industry:
Automotive & Transportation
Electrical and Electronics
Building & Construction
Medical
Sporting equipment
Packaging
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Technical Foam Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors