Functional Polymer Sponge Market Size Forecast to Reach $5.5 Billion by 2025
Posted on Jun 4 2020 10:53 AM "The growth of the global functional polymer sponge market is driven by rise in demand for lightweight material in aerospace and automotive industries." Functional Polymer Sponge Market size is forecast to reach $5.5 billion by 2025, after growing at a CAGR of 3.6% during 2020-2025. The growth of the global functional polymer sponge market is driven by rise in demand for lightweight material in aerospace and automotive industries. These foams help automobile manufacturers address issues pertaining to the weight, vibration, fuel efficiency, and durability of automobiles. Growing industrialization, production of automotive and packaging industries in emerging economies such as India and China are expected to boost demand for functional polymer sponge over the forecast period. Rising foreign direct investment is also expected to contribute to investments in these sectors. However, the high cost associated with functional polymer sponge hampers m...