Top 3 Trends Impacting the Global Rigid Foams Market Through 2021: Technavio

June 14, 2017

#ChemicalsandMaterials--Technavio’s latest market research report on the global rigid foams market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Hitesh Bhatia, a lead analyst from Technavio, specializing in research on plastics, polymers, and elastomers sector says, “The global rigid foams market is expected to witness significant growth during the forecast period owing to increasing demand from various end-use industries such as the building and construction, appliances, and packaging industries. Rigid foams possess beneficial properties such as low density, flexibility, and low heat transfer ability, due to which they are used in packaging applications.”

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

The top three emerging market trends driving the global rigid foams market according to Technavio research analysts are:
- Rising investment in construction industry
- Increase in R&D activities
- Development of environment-friendly rigid foams
Rising investment in construction industry

Due to the rise in urbanization and population, there has been an increase in the construction industry. In 2015, the US spent more than USD 1 trillion in the construction industry, which was 10.5% greater than the previous year's investment. The governments of developing regions are investing significantly in residential homes owing to the population shift toward metropolitan cities in search of jobs, better lifestyle, and other amenities. For instance, in September 2015, the State Council of China announced a plan to construct over 16 million apartments and renovate over 8 million houses between 2015 and 2017, which will increase the consumption of rigid foams during that period.

Increase in R&D activities

Growing R&D spending is a major trend in the global rigid foams market. The major rigid foam players have increased their R&D spending to reduce the manufacturing cost and to provide products with enhanced properties. For instance, Dow Chemical has come up with RENUVA renewable resource technology, which breaks down natural oil and functionalizes to provide better quality and more consistency. The RENUVA technology has giving birth to an enhanced generation of greener performance-based polyols. The other leading vendors in the market such as BASF, Huntsman International, and Recticel have also increased their investment in R&D with an aim to improve the efficiency and performance of rigid foams.

Development of environment-friendly rigid foams

There is a strong preference in the developed economies such as Canada, the US, and Germany to develop PET which is environment-friendly. Energy-saving rigid foams are increasingly becoming popular in the developing regions as well such as India, Japan, and Indonesia.

“The usage of environment-friendly rigid foams helps in reducing VOCs and toxicity of gases from nearby industries, thereby maintaining the environmental balance of the atmosphere in the vicinity. This trend to opt for environment-friendly polyurethane rigid foams is expected to boost the growth of the market,” says Hitesh.

Browse Related Reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like industrial gases, glass and ceramics, and olefins. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
&source=" target="_blank" />

LONDON–(BUSINESS WIRE)–#ChemicalsandMaterials–Technavio’s latest market research report on the global
rigid foams market provides an analysis on the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

Hitesh Bhatia, a lead analyst from Technavio, specializing in research
on plastics,
polymers, and elastomers sector says, “The global rigid foams
market is expected to witness significant growth during the forecast
period owing to increasing demand from various end-use industries such
as the building and construction, appliances, and packaging industries.
Rigid foams possess beneficial properties such as low density,
flexibility, and low heat transfer ability, due to which they are used
in packaging applications.”

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging market trends driving the global
rigid foams market according to Technavio research analysts are:

Rising investment in construction industry
Increase in R&D activities
Development of environment-friendly rigid foams

Rising investment in construction industry

Due to the rise in urbanization and population, there has been an
increase in the construction industry. In 2015, the US spent more than
USD 1 trillion in the construction industry, which was 10.5% greater
than the previous year’s investment. The governments of developing
regions are investing significantly in residential homes owing to the
population shift toward metropolitan cities in search of jobs, better
lifestyle, and other amenities. For instance, in September 2015, the
State Council of China announced a plan to construct over 16 million
apartments and renovate over 8 million houses between 2015 and 2017,
which will increase the consumption of rigid foams during that period.

Increase in R&D activities

Growing R&D spending is a major trend in the global rigid foams market.
The major rigid foam players have increased their R&D spending to reduce
the manufacturing cost and to provide products with enhanced properties.
For instance, Dow Chemical has come up with RENUVA renewable resource
technology, which breaks down natural oil and functionalizes to provide
better quality and more consistency. The RENUVA technology has giving
birth to an enhanced generation of greener performance-based polyols.
The other leading vendors in the market such as BASF, Huntsman
International, and Recticel have also increased their investment in R&D
with an aim to improve the efficiency and performance of rigid foams.

Development of environment-friendly rigid foams

There is a strong preference in the developed economies such as Canada,
the US, and Germany to develop PET which is environment-friendly.
Energy-saving rigid foams are increasingly becoming popular in the
developing regions as well such as India, Japan, and Indonesia.

“The usage of environment-friendly rigid foams helps in reducing VOCs
and toxicity of gases from nearby industries, thereby maintaining the
environmental balance of the atmosphere in the vicinity. This trend to
opt for environment-friendly polyurethane rigid foams is expected to
boost the growth of the market,” says Hitesh.

Browse Related Reports:

Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like industrial
gases, glass
and ceramics, and olefins.
This subscription nets you thousands in savings, while staying connected
to Technavio’s constant transforming research library, helping you make
informed business decisions more efficiently.

About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com