The technical foam market during the forecast period

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Technical Foam Market
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• "Technical Foam Market by Form (Flexible, Rigid,
  Spray), Material (Elastomeric, PU, PE, Expanded
  Foam), End Use (Electricals Electronics,
  Automotive Transportation, Commercial
  Buildings, Office Equipment, Medical), and Region
  - Global Forecast to 2025"
• The global technical foam market size is
  projected to grow from USD 9.1 billion in 2020
  and reach USD 15.7 billion by 2025, at a CAGR of
  11.6 from 2020 to 2025. The growth of this
  market can be attributed to the increase in
  demand from automotive transportation end uses
  and the rising demand for acoustic solutions in
  commercial buildings.

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• Flexible foam segment to lead the technical foam
  market during 2020-2025
• Elastomeric segment is expected to grow at
  highest
• CAGR in technical foam market during the forecast
  period
• Automotive transport segment is expected to
  register the fastest growth during the forecast
  period
•  Asia Pacific to lead the global technical foam
  market during the forecast period

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• The polyurethane segment accounted for the
  largest share of the technical foam market in
  2019. This large share is attributed mainly to
  its properties, such as low weight, heat
  preservation, sound absorption, and excellent
  cushioning. Technical PU foams are mainly used in
  the automotive transportation and commercial
  buildings segments. These foams are more widely
  used compared to other materials owing to their
  low heat conduction coefficient, low density, low
  water absorption, relatively good mechanical
  strength, and insulating properties.

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• Key Market Players
• BASF SE (Germany), Dow Inc. (US), SEKISUI
  CHEMICAL CO., LTD (Japan), Huntsman Corporation
  (US), Armacell International S.A. (Germany),
  LANXESS AG (Germany), Trelleborg AB (Sweden),
  Recticel NV/SA (Belgium), INOAC Corporation
  (Japan), UFP Technologies, Inc., (US) Wanhua
  Chemical Group Co., Ltd. (China), and The
  Woodbridge Group (US) are some of the major
  players in the global technical foam market.

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• Recent Developments

• In February 2020, Huntsman Corporation acquired
  Icynene-Lapolla, a leading North American
  manufacturer and distributor of
  spray polyurethane foam (SPF) insulation systems
  for residential and commercial applications.
  Huntsman acquired the business from an affiliate
  of FFL Partners, LLC, for USD 350 million. The
  acquisition of Icynene-Lapolla is aligned with
  Huntsmans strategy of growing its downstream
  polyurethanes business.
• In December 2019, BASF SE expanded its range of
  melamine resin foam, Basotect, by developing and
  improving emission properties in the new grade
  Basotect UF. It is suitable for the insulation
  of rail vehicles and for heating, ventilation,
  and air conditioning (HVAC) in buildings.

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