Europe Polyolefin Foam Industry Insights

The European polyolefin foam market size was valued at USD 4.1 billion in 2019 and is expected to register a revenue-based CAGR of 5.8% over the forecast period. Polyolefin foam is widely used in various industries, including automotive, consumer goods, packaging, and others on account of its properties, such as high strength, lightweight, buoyancy, resistance to high temperature, and energy absorption.


Growth of the construction industry in Europe is a significant factor propelling the demand for polyolefin foam. Increasing construction activities in Ireland and the Netherlands, growing urbanization in the eastern European countries, and rising public spending on infrastructure in Germany, Italy, and U.K. are majorly fueling the growth of the construction industry in Europe.

 

This, in turn, is likely to have a positive impact on the demand for polyolefin foam in Europe. Moreover, rising demand for green buildings owing to stringent environmental regulations is anticipated to drive the construction industry, thereby boosting the polyolefin foam market growth in Europe.


In December 2019, the Federation of the German Construction Industry (HBD) announced in Berlin that it aims to build approximately 375,000 new apartments by 2021 and 310,000 new building units by the end of 2020. The construction industry in the country is majorly driven by housing sectors owing to rising income, stable labor market, and continuous rise in the number of people migrating to big cities. In addition, ongoing transition to a sustainable energy system in the country is fueling the demand for green buildings in Germany. Thus, growing construction industry in the country is expected to create ample growth opportunities for the Europe polyolefin foam market over the forecast period.


Positive developments in regional economic conditions and investments by the government in the infrastructure sector in France are fueling the growth of the construction industry, which, in turn, are expected to contribute to the growth of polyolefin foam market in Europe. In addition, rising inclination towards green buildings in the country owing to the concerns over carbon emissions is expected to create lucrative growth opportunities for the construction industry, thereby propelling the demand for polyolefin foam in France in the coming years. However, fluctuating raw material prices are anticipated to hamper the market growth in Europe over the forecast period.


Source:http://www.grandviewresearch.com