Foam Sealant Market Size, Share, Growth, And Industry Analysis By Type (Single Side, Double Side, Foam Sealant) By Application (Astronautics, Buildings, Automotives, Packaging, Others) Regional Forecast By 2031

Updated On: 22 April 2024

Foam Sealant Market Report Overview

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The global foam sealant market size was USD 3.681 billion in 2022.  As per our research, the market is expected to reach USD 5.842 billion in 2031, exhibiting a CAGR of 5.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with foam sealant market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Foam insulation is thought to be the best for lowering utility costs and greenhouse gas emissions. By limiting air leakage that happens on door frames, exterior walls, window frames, roof underlays, crawlspaces, crawlspace attics, flooring, and other places, it can lower energy usage. Additionally, it aids in enhancing indoor air quality by preventing dust and allergen infiltration through tiny gaps and cavities. Additionally, it decreases the growth of mildew and condensation by strengthening the structure and reducing moisture buildup in the walls. Due to its low compression property, it has good sealing, cushioning, and vibration control qualities. Due to its extreme light weight and great durability, it is appropriate for use in the oil and gas, automobile, non-residential, and residential building industries.

All across the world, insulating foam sealants are accessible to both homeowners and skilled foam installers. Insulating foam sealant bonds well to stone, wood, glass, metal, and plastics because it swiftly dries and sets. Due to its many benefits, such as energy saving, pollution prevention, added support, mould and pest prevention, reduced noise and draught, etc., insulating foam sealants are becoming more popular on the market.

COVID-19 Impact: COVID Outbreaks Impedes The Market Growth

Due to the many guidelines that have been implemented by the governments of various nations, the current global pandemic has had a significant negative impact on the global foam insulation market. The global market's labour, transportation, sales, and production have been constrained by lockdown and shutdown measures. As a result, for the first half of 2020, the worldwide foam insulation market has come to a standstill. Foam Insulation Market has suffered a significant loss as even the worldwide market has lost its investors.

Latest Trends

"Advancements Of Building Codes And Certification Standards Leading Growth In Market"

The advent of building codes and certification standards, such as the USGBC's LEED for commercial buildings and USEPA's Energy Star rating, among others, are anticipated to drive insulating foam sealant demand and, consequently, the market for these products globally.

Foam Sealant Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Single Side, Double Side, Foam Sealant. Single Side will be anticipated to drive the market segment.

• By Application Analysis

Based on application, the market can be divided into Astronautics, Buildings, Automotives, Packaging, Others. Astronautics will be the dominating segment in the upcoming years.

Driving Factors

"Foam Industry Will Be Driven By Growing Demand For Lightweight, Fuel-Efficient Aircraft"

The usage of foams in aircraft manufacturing has grown recently as a result of the growing demand for attributes including weight reduction, extreme resistance, insulation, radar absorption, and fuel efficiency. Since the foam materials don't rust or corrode, they aid in lowering aeroplane maintenance expenses. In addition to these advantages, foam reduces the weight of the aeroplane because to its superior strength-to-weight ratios as compared to metals, enabling it to fly farther and carry more passengers. Rigid foam insulation panels, highly resilient flexible foam seating, durable elastomeric tyres and wheels, microcellular foam seals and gaskets, hard plastic parts electronic mechanisms, and many other uses are all commonplace uses for polyurethane foam. Most other materials struggle to tolerate the circumstances that polyurethane can. This is mostly a result of its production flexibility. Additionally, PU foam works wonders for spacecraft. During the projected period, this is anticipated to fuel the expansion of the foam market.

"Increased Demand for Foam in Electronics Packaging Is a Growth Driver for the Foam Market"

The global demand for foam in electronics packaging is anticipated to rise with the increased use of electronics products like smartphones and LED televisions. Such foams are a great substitute for protective packaging for electronic equipment since they can cushion while absorbing stress and vibration. In refrigerators and freezers that need to maintain both their internal temperatures and their thermal isolation from their surroundings, polyurethane foam is frequently employed. The adhesive properties of polyurethane ensure that the material is applied uniformly during the manufacturing process, minimising drop, surface unevenness, and other undesirable characteristics. This helps appliances increase their energy ratings by preventing heat transfer between layers.Over time, polyurethane aids in shielding the appliance from heat and rust, maintaining the attractiveness and functionality of the gadget. The ability of polyurethane to apply a variety of colours on the exterior casing for coatings has increased demand for polyurethane in the electronic industry. During the projected period, it is expected that the growing demand for polyurethane in the electronics industry will propel the expansion of the foam market.

Restraining Factors

"To Halt The Expansion Of The Foam Market, Strict Regulations Must Be In Place Regarding The Use Of PU Foams"

One of the main challenges limiting the market's growth in the upcoming years is discovered to be problems with the installation of insulating foam sealant. In order to ensure performance, insulation foam sealant must be put correctly in accordance with the manufacturer's recommendations for outdoor temperatures and humidity. The unique legal restrictions on the production of flexible polyurethane foam are seen as a roadblock to the market's growth. For new and existing plants that produce flexible polyurethane foam, the National Emission Standards for Hazardous Air Pollutants (NESHAP) environmental legislation of the US Environmental Protection Agency (EPA) have some requirements. The main challenges limiting the growth of the global foam market are strict environmental regulations and the health hazards associated with the use of toluene diisocyanate (TDI) and methylenediphenyl diisocyanate (MDI) as raw materials in the production of PU foams.

Foam Sealant Market Regional Insights

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The Americas Through the projection period, the foam industry is anticipated to increase at the fastest rate. The increasing usage of foam in wind turbines, cars, and building and construction projects, particularly in the United States and Canada, is credited with the region's rise. According to research, the construction industry contributed USO 900 billion to the American economy in the first three months of 2020, which helped to drive the country's high demand for structural foam. The structural foam's lightweight core makes it a great material for wind turbine blades as well. Due to the region's expanding use of wind energy, foam is in high demand. The amount of wind power generated in the United States increased by a record 16,836 Megawatts (MW) in 2020, bringing the total to 121,955 MW.

Wind power installations have surpassed solar power installations for the first time, with an investment of USO 24.6 billion. Wind energy produces more than 10% of the electricity in 16 states, and more than 30% of the electricity in Kansas, Iowa, Oklahoma, North Dakota, and South Dakota. These elements are anticipated to fuel the foam market's expansion in the North American continent.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

Arkema (France)

Henkel (Germany)

Huntsman International (U.S.)

3M (U.S.)

RPM International (U.S.)

DowDuPont Inc. (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.