Molded Foam Market Size & Share, by Foam Type (Closed Cell, High Resilience, Integral Skins, Memory); Material (Expanded Polystyrene, Polyurethane Foam, Expanded Polyethylene, Expanded Polypropylene); Application (Seating and Furniture, Automotive Interior, Bedding and Mattresses, Footwear); Form (Rigid, Flexible) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5695
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

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.


Molded Foam Market overview
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Molded Foam Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Adoption of Sustainable Practices - Molded foam is completely inert and non-toxic, is remarkably resource-efficient, and is often distinguished by its environmentally favorable qualities.
  • Growing Demand for Molded Foam in the Packaging Industry- Foam packing materials come in a variety of formats that are easily accessible, including sheets, inserts, and custom-molded shapes, and have special qualities, which makes it a great option for packing a variety of goods.
  • Increasing Usage in the Construction Industry- Structural foam molding is a standard practice in the construction industry for producing strong building materials and is also employed in lightweight construction as formwork components. For instance, expandable foams are used to create thermal insulation that can reduce heating energy use by over 65%.

Challenges

  • Varying Prices of Raw Materials Such as Petrochemicals - The majority of non-renewable petrochemical raw materials are utilized in the production of commercial foams, making petrochemicals the most actively consumed raw materials across a wide range of end users. Numerous factors influence the cost of gasoline and diesel including the price of crude oil, followed by federal and state taxes, the global economic outlook, changes in supply and demand, and geopolitical tensions.
  • Environmental concerns may impact the production processes
  • Supply chain disruptions are expected to affect production

Molded Foam Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 16 Billion

Forecast Year Market Size (2036)

~ USD 27 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Molded Foam Segmentation

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:

          Foam Type

  • Closed Cell
  • High Resilience
  • Integral Skins
  • Memory

          Material

  • Expanded Polystyrene
  • Polyurethane Foam
  • Expanded Polyethylene
  • Expanded Polypropylene

          Application

  • Seating and Furniture
  • Automotive Interior
  • Bedding and Mattresses
  • Footwear

          Form

  • Rigid
  • Flexible

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Molded Foam Industry - Regional Synopsis

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.

Research Nester
Molded Foam Market size
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Companies Dominating the Molded Foam Market

top-features-companies
    • Sonoco Products Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Pregis Corporation
    • Sealed Air Corporation
    • ACH Foam Technologies
    • Rogers Foam Corporation
    • Foam Fabricators
    • Plymouth Foam
    • Tucson Container Corporation
    • Plastifoam Company
    • Wisconsin Foam Products

In-the-news

In The News

  • Sonoco Products Company acquired the flexible packaging division of Graphic Packaging Corporation to increase Sonoco's market share by twofold in the packaging industry's fastest-growing sector: flexible packaging, and contribute substantial new and increased capacity in North America for flexible packaging, a packaging industry seeing growth rates higher than the GDP.
  • Pregis Corporation revealed investment in the development of multilayer PE film technology to provide the packaging sector with cutting-edge, environmentally friendly solutions constantly, and enable Pregis to design and manufacture high-yield, high-performing "thin" PE film that works very well for use with AirSpeed inflatable systems.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5695
  • Published Date: Feb 21, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing production of automobiles across the globe and the growing need for aesthetic products are the major factors driving the growth of the market.

The market size of molded foam is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Pregis Corporation, Sealed Air Corporation, ACH Foam Technologies, Rogers Foam Corporation, Foam Fabricators, Plymouth Foam, Tucson Container Corporation, Plastifoam Company, Wisconsin Foam Products, and others.

The polyurethane foam segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Molded Foam Market Report Scope
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