Polymer foams are soft and flexible, which makes them comfortable, strong to weight ratio, flexible, and absorbent of energy. Due of these characteristics, there is a greater need for certain materials, especially when it comes to making furniture like office chairs, couches, and bean bags. But they also have excellent acoustic and insulation properties, strong fire resistance, and other characteristics that make them remarkable for use in the manufacture of flooring products and insulation panels.
Germany Polymer Foam Market Driving Factors and Challenges
Drivers: The growth trend of the polymer foam market is attributed to few important aspects. The primary driver is the growing need in a number of industries, including electronics, construction, automotive, and packaging. Preferred materials in various industries, polymer foams provide lightweight, strong, and affordable solutions that satisfy strict regulatory requirements. Further broadening their range of applications, technological developments have also produced novel foam formulations with improved qualities, such as thermal and acoustic insulation.
Challenges: Polymer-based products are renowned for not breaking down naturally, especially those made of resins like polyurethane (PU), polyethylene (PE), and polystyrene (PS). According to the Surfers Against Sewage Association research, 320 million tons of plastic were produced in 2016, and by 2034, that number is expected to quadruple. They are susceptible to several rules and regulations that restrict their adoption because of these factors. Furthermore, the resin content of foam materials is lower per unit volume, which limits their application in recycling plants and adversely affects consumer demand. Due to limits on the use of polymer-based products imposed by countries such as China, Brazil, and the United States, it is expected that the demand for plastic-based foams would decrease during the course of the forecast period.
Impact of COVID-19 on Germany Polymer Foam Market
The COVID-19 pandemic had a major effect on Germany's polymer foam industry, changing supply and demand dynamics over time as well as producing short-term disruptions. The market saw a steep drop in demand during the pandemic's early stages in a number of industries, including packaging, construction, and automobiles. Reduced consumer spending, interrupted supply chains, and suspended production operations were the main causes of this crisis.
Germany Polymer Foam Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; ARKEMA GmbH, Armacell International SA, BASF SE, Borealis AG, Fritz Nauer AG, JSP International GmbH & Co KG.
Germany Polymer Foam Market Segmentation:
By Type: Based on the Type, Germany Polymer Foam Market is segmented as; Isolates, Concentrates, Textured.
By Application: Based on the Application, Germany Polymer Foam Market is segmented as; Food Meat Alternatives, Dairy Alternatives, Performance Nutrition & Others.
By Region: This research also includes data for Eastern Region, Northern Region, Southern Region, Western Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.