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Market Leader- Medical Foam Market

The global medical foam market is projected to reach USD 30.89 Billion by 2026, at a CAGR of 8.2% from 2016 to 2026. The growing demand for medical foam in prosthetics & wound care and medical & devices, and components are some of the applications driving the global medical foam market.

The key companies offering medical foam have mainly adopted the expansions and acquisitions strategies to strengthen their positions in the global medical foam market. The large players operating in this market have been taking initiatives to expand their global reach, while small companies have been concentrating on the development of new products between 2012 and 2016.

The expansions strategy has been the most important growth strategy adopted by the companies manufacturing medical foam between 2012 and 2016. This strategy accounted for a share of 40% of all strategic developments that took place in the market. The new product launches and acquisitions strategies were also major strategies adopted by the key manufacturers in the market and accounted for a share of 33% and 20% respectively, of the total development strategies that took place in the global medical foam market between 2012 and 2016.

Some of the key players operational in the medical foam market are, The DOW Chemical Company (U.S.), BASF SE (Germany), Bayer AG (Germany), Sekisui Chemical Co., Ltd. (Japan), Huntsman Corporation (U.S.), Trelleborg AB (Sweden), Inoac Corporation (Japan), Recticel NV (Belgium), Vita (Lux III) S.ŕ r.l. (U.K.), Armacell International S.A. (Luxembourg), Foamcraft, Inc. (U.S.), FoamPartner Group (Switzerland), Future Foam, Inc. (U.S.), UFP Technologies, Inc. (U.S.), and Rogers Corporation (U.S.).

BASF SE (Germany), is the leading player in the global medical foam market, and offers a wide range of polymer foams. The company has adopted both, organic as well as inorganic growth strategies to increase its market share in the global medical foam market. BASF SE is focusing on joint ventures and expanding its business across the world. This has helped the company expand its global footprint and tap the high growth regions that are witnessing rapid growth in the medical foam market. For instance, in June 2015, BASF SE opened a plant at Lemforde in Germany for the production of polyurethane based insulation foam, Slenite. This is a high-performance product which is also used in medical insulation applications, and will further improve the company’s position in the PU foam insulation segment. In 2015, BASF SE built the Polyurethane Systems House at Geismar, LA, in which polyurethane raw materials are blended to deliver customized products, including products for healthcare applications. Customized raw material is further helping the company manufacture quality PU foam products.

Armacell International, SA (Luxembourg) is another key player operating in this market. This company manufactures and supplies a wide range of medical foams. The products offered by the company include, insulation materials, fire protection products, acoustic solutions & covering systems for building equipment & industrial installations, foam cores as composite materials, and special foams for a multitude of industrial applications. The company adopted the new product launches and acquisitions strategies to expand its global footprint in the global medical foam market. In October 2016, Armacell acquired 100% shares of PoliPex Ltda. (PoliPex), a leading Brazilian manufacturer of extruded Polyethylene (PE) insulation foams. This will increase the Armacell product portfolio which includes medical grade foams, into polyethylene foams. In February 2015, Armacell acquired Turkish insulation materials manufacturer OneFlex. This will strengthen the company’s global position in insulation materials for medical applications and also help the company strengthen its market in Turkey.

Related Reports:

Medical Foam Market by Material Type (Polyurethane, Polystyrene, Polyolefin), Form (Flexible, Rigid, Spray), Application (Medical Packaging, Medical Devices & Components, Prosthetics & Wound Care), and Region - Global Forecast to 2026

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