Global Closed Cell Foam Market Research Report: By Type (Polyethylene Foam, Neoprene Foam, Polystyrene Foam, PVC Foam, Polyurethane Foam, EPDM Foam), By Density (Low, Medium, High), By Application (Residential, Industrial, Automotive, Aerospace, Marine, Medical, Sports & Fitness, Packaging), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
The global Closed Cell Foam market was valued at USD 2.51 billion in 2022 and is estimated to reach approximately USD 4.85 billion by 2031, at a CAGR of 8.62 % from 2023 to 2031.
Closed cell foam is a type of foam that are tightly pressed together and enclosed. It contrasts open cell foam, such as polyurethane, with interconnected open cells. With closed-cell foam, because none of the cells are connected, each contains a tiny pocket of gas. These cells are tightly packed and smaller, which makes the foam more durable and makes it usable for heavy-duty applications. Furthermore, closed-cell foam is more effective at insulating than other types of insulation due to it does not allow air or moisture to penetrate the cells, which would then reduction the insulation's effectiveness.
CLOSED CELL FOAM MARKET: REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Estimated Market Value (2022) |
2.51 Billion |
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Projected Market Value (2031) |
4.85 Billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Density, By Application, & Region |
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Segments Covered |
By Type, By Density, By Application, & Region |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Closed Cell Foam Market Drivers:
Increasing demand for closed cell foam in the automotive and construction industries:
Increasing demand for closed cell foam types in the automotive and construction industries. EPDM closed cell or crushed foam provides outstanding temperature, weather, and ozone resistance. Its widely automotive and construction for its durability and performance. These provide great water and vapor barriers and depending on the characteristics of their base resin, they can be engineered for nearly any environment. Their construction safeguards outstanding thermal and sound insulation properties. Moreover, automotive industry, its pursuit of improved efficiency through lightweight material has increasingly adopted closed cell foam. Thus, driving demand of the global market.
Opportunities:
Increasing awareness about the benefits of using closed cell foam in several applications
Increasing benefits of the using the closed cell foam in the several industries such as residential, industrial, automotive, aerospace, marine, medical, sports & fitness, packaging. Closed-cell foam is incredible resistance, and it is extensively used in the marine industry. For waterproof insulation with outstanding durability and thermal properties, closed-cell foams are a better choice and better soundproofing performance, open-cell foams are more preferable. Furthermore, its rigid nature adds to the structural integrity of the building and E84 fire rated versions are available. The closed cell also acts as a vapor barrier, so water and moisture will be less expected to get inside the home, and the foam itself is unharmed by water damage. Therefore, will increasing demand of the global closed cell foam market over forecast period.
Restraints:
Availability of alternative insulation materials
Availability of alternative insulation materials such as open-cell foam, fiberglass, and mineral wool. Increasing benefits of the open cell foam and it is much more affordable than closed cell foam. In addition, open cell foam is excellent for soundproofing where a single application can completely fill the area between studs. This increasing befits of the alternative material hamper the demand of the global closed cell foam market.
Segment Overview
By Type:
Based on type, the global closed cell foam market is divided into polyethylene foam, neoprene foam, polystyrene foam, PVC foam, polyurethane foam, EPDM foam. The polyethylene segment dominated the market in 2022 and is expected to dominating during the closed cell foam market in forecast period, due to polyethene foam is a closed-cell foam manufactured by the polymerization of ethylene. It has high resistance to chemicals, moisture, and heat. Polyethene foams are lightweight and can be easily used in several end-use industries including transportation, packaging, building & construction materials as well as consumer goods. Moreover, it is a chemically resistant closed cell foam with low water absorption. This material is the ideal economical gasketing, sealing, or insulating solution. Thus, will propel growth of this segment in the global market in the forecast period.
By Density
Based on density, the global closed cell foam market is segmented into low, medium, high. The high segment dominated the closed cell foam market with the largest revenue share in 2022. This owing to closed cell foam is more dense than open cell foam. Closed cell foam can be three times more than that, with a density of 1.75 pounds per cubic foot or more. It is ideal for homes in areas that need higher thermal resistance, such as homes in Colorado. Because it is denser, it can expand to only about an inch thick. This is expected to fuel the growth of this segment in the target market.
By Application
Based on application, the closed cell foam market is fragmented into residential, industrial, automotive, aerospace, marine, medical, sports & fitness, packaging. The residential segment dominated the global closed cell foam market in 2022. This is attributed to rapid urbanization and rising disposable income, has raised demand for housing solutions. Its thermal value is high making it the perfect insulator in terms of thermal conversion for both residential homes. Furthermore, it can be used through several construction stages such as flooring & roofing underlayment insulation where noise control is required along with superior thermal insulation properties that prevent heat penetration from outside resulting in improved building quality factor. As a result, demand of this segment in the global market is increasing.
Global Closed Cell Foam Market Overview by Region
Asia Pacific dominated the closed cell foam market in 2022. This is due to rising product demand from a variety of end-use industries, including industrial, residential, and automotive. China emerged as the industry's largest consumer owing to its rapidly expanding construction sector and rapid urbanization, which resulted in increased infrastructure spending by the government on a domestic level, as well as growing investments from foreign players operating within China's borders. These all factor affecting the growth of the closed cell foam market in this region.
Global Closed Cell Foam Market Competitive Landscape
In the global closed cell foam market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.
Some of the prominent players in the global closed cell foam market Sekisui, Sealing Devices, AZOTE, Zouch, Nexus Foams, Wisconsin Foam Products, Toray Plastics, 3H Foam, MDI Products, Northern Products Company, Johns Manville, and EFP Corporation and others.
Global Closed Cell Foam Market Recent Developments
Scope of the Global Closed Cell Foam Market Report
Closed Cell Foam Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Type |
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By Density |
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By Application |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
• Global Closed Cell Foam Market Size and Forecast: To identify and estimate the market size for the global closed cell foam market segmented by type, by density, by application, & region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of closed cell foam between 2019 and 2031.
• Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global closed cell foam market
• Market Influencing Factors: To find out the factors which are affecting the sales of closed cell foam among consumers
• Impact of COVID-19: To identify and understand the various factors involved in the global closed cell foam market affected by the pandemic
• Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
• Business Executives
• Industry Professionals
• Academic and Research Institutions
• Startups and Entrepreneurs
• Governments, Associations, and Industrial Bodies
• Investors and Trade Experts
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
