Rising Scope of High Heat Foam Application in Automotive Industry to Attract New Investments, Opines Fact.MR
June 23, 2022
Rising Construction Activities in Emerging Economies Such As India and China Are Expected To Drive High Demand for High Heat Foam in These Countries
/EIN News/ -- United States, Rockville MD, June 23, 2022 (GLOBE NEWSWIRE) -- As of 2022, the high heat foam market stands at a value of US$ 10.77 billion and is expected to climb to US$ 23.26 billion by the end of 2032. This new analysis by Fact.MR, a market research and competitive intelligence provider, suggests that the high heat foam market will expand at a high CAGR of 8.1% from 2022 to 2032.
High heat foam are insulation materials that are capable of capturing heat and preventing its dissipation into the environment. Rising focus on sustainability and environment conservation has led to the increased adoption of high heat foam across industry verticals. Prominently, the construction and automotive industries are exhibiting high demand for high heat foam due to their excellent fire-resistant and heat-resistant properties.
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However, the volatile nature of petrochemicals and other raw materials used to manufacture high heat foam is expected to have a hindering effect on overall market growth to some extent.
Why is Heat-Resistant Silicone Foam So Popular?
“Excellent Fire-resistant Properties Driving Demand for Silicone Foam”
High temperature silicone foam is anticipated to witness the highest demand among any other foam type owing to its excellent fire-resistant properties. High heat silicone foam is anticipated to see high adoption in the construction industry as it prevents the spread of smoke and fire across rooms, and thereby improves the safety of the overall structure.
Silicone high heat foam is anticipated to witness an increase in demand at a CAGR of 9.3% throughout the forecast period and account for a major market share of 30.5% by the end of 2032.
Based on type, the high heat foam market is segmented into silicone, polyamide, melamine, polyethylene, and other types. Shipments of high heat polyamide foam currently account for a value of US$ 2.76 billion in 2022 and are projected to increase at a CAGR of 9.4% throughout the forecast period.
To learn more about High Heat Foam Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7496
Key Segments Covered in the High Heat Foam Industry Survey
High Heat Foam Market by Type :
- High Heat Silicone Foam
- High Heat Polyamide Foam
- High Heat Melamine Foam
- High Heat Polyethylene Foam
- Other Types
- High Heat Silicone Foam
High Heat Foam Market by Application :
- Other Applications
High Heat Foam Market by Region :
- North America
- Latin America
- North America
Key high heat foam manufacturers are anticipated to maintain their dominant market shares and keep the market in a consolidated state.
New entrants are expected to have a hard time cracking the market as established players have already created a prominent market presence. However, innovative products and strategies could be used by new entrants to penetrate the market successfully and gain a significant market share.
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Key players in the High Heat Foam Market
- BASF SE
- Intec Foams
- UBE Industries Ltd.
- Armacell International S.A.
- Evonik Industries
- Puren Gmbh
- Wacker Chemie AG
- Rogers Corporation
Key Takeaways from High Heat Foam Market Study
- The high heat foam market stands at a valuation of US$ 10.77 billion.
- Worldwide shipments of high heat foam are predicted to increase at a CAGR of 8.1% from 2022 to 2032.
- The high heat foam market is projected to reach US$ 23.26 billion by the end of 2032.
- Increasing focus on sustainability, rising use in automotive and construction industries, and increasing demand for insulation are factors that will drive high heat foam demand growth.
- Volatility in petrochemical pricing is anticipated to have a constraining effect on overall market growth.
- The North America high heat foam market currently accounts for a major market share of 31.2% and is estimated to progress at a CAGR of 8.6% through 2032.
- The market for high heat foam in Japan stands at US$ 485.9 million.
- Demand for polyamide high heat foam is expected to expand at a CAGR of 9.4% through 2032.
- The use of high heat foam in automotive applications is anticipated to account for US$ 7.69 billion by 2032.
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