Molded Foam Market size is poised to reach USD 27 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of molded foam was USD 16 Billion. The reason behind the growth is due to the growing production of automobiles across the globe owing to the increased consumer interest, and government policies. More than 55 million cars are produced annually, which accounts for about around 2% of global GDP. For instance, more than 85 million motor vehicles were produced globally in 2022, a 5% increase from 2021.
The growing need for aesthetic products is believed to fuel the molded foam market growth. Molded foams are best known to the furniture industry for their ability to produce a wide range of accessories, including mattresses, and are also offered in practical or aesthetically pleasing finishes.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~ USD 16 Billion |
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Forecast Year Market Size (2036) |
~ USD 27 Billion |
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Regional Scope |
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Material (Expanded Polystyrene, Polyurethane Foam, Expanded Polyethylene, Expanded Polypropylene)
The polyurethane foam segment is estimated to hold 45% share of the global molded foam market by 2036. The range of polyurethane foams includes flexible porous elastomers and stiff pneumatic resins which are continuously used in flexible foaming as it has several uses, including thermal insulation. The interaction of polyols and diisocyanate produces polyurethane foam, which is nearly ubiquitous owing to its favorable characteristics as compared to similar materials. One typical polymer used to manufacture foam is polyurethane (PU), which is also used in packaging since it is perfect for shielding lightweight and delicate items, and is breathable, flexible, soft, and instantly reverts to its former shape after compression. Molded polyurethane foam packaging is widely used in the shipping protection of automobile parts, and other foreign fragile products to shield the goods from damage while they are being shipped and stored. Polyether-based polyurethane (PU) foams come in a variety of colors, specifications, and densities that offer specialized, form-fitting padding at a reasonable price for distinctive and reliable item protection, and their use is anticipated to expand steadily in the coming years.
In addition, expanded Polypropylene (EPP) is a highly versatile closed-cell bead foam known for its flexibility and properties including outstanding energy absorption, multiple impact resistance, thermal insulation, buoyancy, water and chemical resistance, exceptionally high strength-to-weight ratio, and 100% recyclability. For instance, over 95% of air makes up expanded polypropylene, therefore it is incredibly light.
It is an excellent closed-cell foam mold that can be recycled and used in a variety of ways, and is currently widely used for many additional vehicle systems and parts, and is also used to insulate air conditioners, pumps, filters, motors, heaters, ventilation and refrigeration systems, and duct pipes.
Foam Type (Closed Cell, High Resilience, Integral Skins, Memory)
The closed cell segment in the molded foam market is set to garner a notable share shortly. Closed cell foam is a kind of foam in which the individual "cells" are encased and firmly compressed, and is considered a premium material that offers lightweight protection for the body from impacts while offering outstanding absorption. Closed-cell foams are produced by molding, casting, or extrusion into rectangular sheets, continuous rolls, molded strips, or bespoke profiles, which are denser and more widely used varieties of polyether foam in a variety of applications, including soundproofing, padding for weight equipment, seating in recreational vehicles, and waterproof barriers. Closed cell foam has outstanding tensile strength, floats, has a high insulating value works well in both cold and hot conditions, and is also very resistant to dust. Moreover, owing to its superior air barrier qualities over open-cell foam, closed-cell foam is frequently utilized in buildings and can be quite helpful for a range of applications that call for insulation against heat and sound, shock resistance, and moisture.
Our in-depth analysis of the global molded foam market includes the following segments:
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Foam Type |
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Material |
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Application |
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Form |
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APAC Market Forecast
Molded foam market in Asia Pacific is predicted to account for the largest share of 42% by 2036 impelled by rapid urbanization. China's urbanization rate has increased dramatically in recent years driven by fast suburbanization through the in-situ conversion of towns and villages and migration from rural to urban areas. Over 50% of China's population lives in cities, which has led to a surge in demand for furniture and houses. The growth of the social economy as well as the furniture business is influenced by the Chinese furniture industry which includes a variety of goods such as dining chairs, couches, armchairs, and ottomans. For instance, more than 66% of China's population resided in cities as of 2023.
In addition, India is one of the world's top five makers of furniture and ranks fourth globally in terms of furniture consumption and fifth globally in terms of furniture production. The Indian furniture industry is a subset of the home furnishings sector driven by the growing demand for durable and hybrid seating furniture, rising urbanization, and rising demand for modern, modular furniture among urban people.
North American Market Statistics
The North America molded foam market is estimated to be the second largest, during the forecast timeframe led by the growing packaging industry. One of the packaging markets with the quickest rate of growth is the United States, where sales are expected to rise from around USD 713 billion units in 2021 to over USD 764 billion units by 2026 fueled by increased spending power, and a resulting rise in the demand for packaged goods.
Author Credits: Rajrani Baghel
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