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- 201 Market data Tables
- 55 Figures
- 242 Pages and in-depth TOC on “Industrial Foam Market – Global Forecast to 2026”
This report also provides a comprehensive analysis of the companies listed below:
Covestro AG (Germany), BASF SE (Germany), Dow Inc. (US), Huntsman Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Saint-Gobain (France), Chemtura Corporation (Lanxess) (US), Recticel NV/SA (Belgium), Rogers Corporation (US), Trelleborg AB (Sweden), Eurofoam Group (Austria), Woodbridge Foam Corporation (Canada), Tosoh Corporation (Japan), Foamcraft, Inc. (US), Loyal Group (China), JSP Corporation (Japan), and Sealed Air Corporation (US)
The key players operational in the industrial foam market are focusing on new product launches, agreements, expansions, acquisitions, and joint ventures to cater to the increasing demands across various industries. These companies are also investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the industrial foam market.
COVID-19 Impact on the Global Industrial foam Market
The pandemic is estimated to have huge impact on various factors of the value chain of industrial foams, which is expected to reflect during the forecast period, especially in the year 2021. The various impact of COVID-19 are as follows:
- Impact on raw materials: The imposition of COVID-19 lockdowns across the world, lead to a decrease in demand for MDI, significantly from March to June 2020. The key buyers in Asia Pacific either cancelled their advance orders or delayed their purchases. The outbreak and the spread of the COVID-19 situation have led to a shortage of TDI in key regions across the world. Most industrial companies have shut their operations, and many countries have sealed their ports, thereby resulting in no product movement. This has led to the cancellation of several orders for TDI.
- Impact on industrial foam manufacturers: The impact of COVID-19 outbreak resulted in the majority of production plants of industrial foams in Europe have either been closed or are operating with limited capacity.
- Impact on end-use industries: The impact of the COVID-19 on the construction industry is estimated to vary in different regions across the world. In Europe, the building & construction industry has been contracted by 60–70% in 2020. However, in Asia Pacific, the economy of China is improving as the construction sector in most parts of the country have resumed normal activities.
BASF SE, Ltd., in June 2020, established partnered with China-based Shanghai Zhengming Modern Logistics Co., Ltd. or Zhengming to develop insulating polyurethane (PU) sandwich panels. These panels are used in refrigerated storage of the cold chain industry in China. Under this partnership, BASF SE aims at supplying polyurethanes for all joint cold storage units of Zhengming. This partnership is expected to strengthen the position of BASF SE in the polyurethane foam market of China.
Dow Inc., in May 2020, entered into an agreement with Univar Solutions Inc., a global chemical and ingredient distributor and provider of value-added services. Under the agreement, Univar Solutions Inc. will exclusively distribute VORASURF silicone polyurethane additives of Dow Inc. across North America. These silicone additives and surfactants enable improved foam properties by bringing flexibility and rigidness to industrial foams.
Huntsman Corporation, in June 2020, acquired Icynene-
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