Global Foam Coatings Market is expected to rise at a positive CAGR in the estimated period. Foam is a polymer-modified, fiber oriented material used for foam shapes and insulated concrete systems. The coatings comprise acrylics, PVCs, activated carbon, vinyl and conductive carbon. Commercially, foam coatings possess water and flame resistant properties and also they are widely applied such as primed wood, primed fiberglass and muslin.
Driving factors responsible for the growth of foam coatings market include growth in demand for foam coatings in construction industries. Government regulations pertaining to green environment along with rise in provision of durable coatings resulting into enhanced performance results into a positive market growth.
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Foam coatings also display adhesive applications in various industries which adds to the market growth. Epoxy-based coatings are eco-friendly since it does not react with moisture and does not comprise impulsive organic compounds. However, the challenges associated with disposal of waste water are anticipated to hamper the market growth in the estimated period.
Based on segmentation by technology, the foam coatings market includes water based, solvent-based and powder based. Based on segmentation by resin type, the foam coatings market includes acrylic, epoxy and polyurethane. Epoxy dominates the market segment owing to demand.
Based on segmentation by end-user, the foam coatings market includes building & construction, oil & gas, transportation and consumer electronics.
Building & construction segment is likely to dominate the segment owing to rise in construction activities. Geographically, foam coatings market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. APAC market dominates the global market scenario owing to heavy presence of manufacturing units and rise in exports business.
India and China are the key regions in APAC market. North America and Europe market is also expected to grow at a significant CAGR in the estimated period The key players in the foam coatings market include Alfa Foam Limited, AkzoNobel N.V., Carson’s Coatings, PPG Industries, Sherwin-Williams Company, Axalta Coating System LLC, Asian Paints Ltd, S.K. Kaken Co Ltd, Masco Corporation and Lapolla.
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