Polymer foams are made of polymers, resins, and additives. They are used in a wide variety of industries such as packaging, furniture & bedding, building & construction, and automotive. These foams are classified based on their structures, namely, closed and open cell. Closed cell foams are rigid, whereas open cell foams are flexible. Thermoplastics or thermosets are the major types of polymer foams, which are further divided into rigid or flexible foams. The blowing agent is an important raw material used in the manufacturing of polymer foam. It can be either a chemical or a physical blowing agent, depending on the process used to manufacture these foams. Polymeric foams are produced by using different processing methods such as slab-stock by pouring, extrusion, and different forms of molding.

The market size of polymer foam is valued at USD 94.86 Billion in 2017. It is driven by the wide use in different end-use industries, namely, building & construction, automotive, furniture & bedding, packaging, and others. The high demand from the automotive sector, especially in gaskets, headliners, cushioning, and cables applications, also drives the market. The demand for polymer foam in the automotive and packaging industries is high, especially in China, India, and Brazil. New emerging technologies and innovations drive the demand for these foams in these industries. Asia-Pacific is estimated to witness a strong growth in the next five years. Different types of foams are used in the industries based on requirements. They have distinct properties, which vary according to application requirements. These are classified based on their types, namely, PU, PS, PVC, phenolic, polyolefin, melamine, and others. The others segment constitute silicone and polyvinylidene fluoride (PVDF). Currently, PU foam dominates the polymer foam market based on its demand from various end-use industries such as building & construction, packaging, furniture & bedding, and automotive. Growing demand for polymer foam in the automotive, building & construction, and packaging industries drive the market. On the other hand, volatility in raw material prices, government regulations, and economic slowdown negatively affect the market. Price and availability of raw materials are key factors for foam manufacturers for determining the cost structure of their products. Raw materials used by the foam industry include resins, inorganic chemicals, and refined petroleum products. Most of these raw materials are petroleum-based derivatives and are vulnerable to fluctuations in commodity prices.

Polymer Foam Market vendors are placed into 4 categories based on their performance and reviews in each criterion: “visionary leaders,” “innovators,” “dynamic differentiators,” and “emerging companies".

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.