Polymer Foam Market Worth $142.02 Billion By 2030 Globally, At A CAGR Of 5.6 % Says Marketsandmarkets™

(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The Global Polymer Foam Market is projected to grow from USD 102.61 billion in 2024 to USD 142.02 billion by 2030, at a CAGR of 5.6% during the forecast period, as per the recent study by MarketsandMarketsTM . The packaging industry is mainly driving the growth of the polymer foam market. Effective and protective packaging is an area of growing demand. Polymer foams such as expanded polystyrene (EPS), polyethylene (PE) foam, and polyurethane (PU) foam are becoming effective protective packaging solutions for those fragile items during transport. Now that e-commerce is booming, companies need to ensure electronics, glassware, and perishable items arrive at their customer, not broken or melted. Polymers may offer very good cushioning and shock absorption to mitigate product damage. The lightweight foam can provide businesses with more cost-effective transportation logistics to save on shipping costs.

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List of Key Players in Polymer Foam Market :

• ARMACELL (Luxembourg)
• Sheela Foam Limited (India)
• Kingspan Insulation, LLC (Ireland)
• Owens Corning (US)
• Zotefoams plc (UK)

Drivers, Restraints, and Opportunities in Polymer Foam Market:

• Driver: Growth of major end-use industries of polymer foams .
• Restraint: Volatility in raw material prices.
• Opportunity: Growing demand for bio-based polyols.
• Challenge: Stringent regulations.

Key Findings of the Study:

• The building & construction segment is expected to account for the largest share of the polymer foam market by end-use industry during the forecast period in terms of value.
• By resin type, the polyurethane segment is expected to account for the largest market share in terms of value during the forecast period.
• Asia Pacific is projected to register the largest market share during the forecast period.

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The polyurethane segment is expected to register the highest CAGR during the forecast period based on resin type. This can be attributed to polyurethane's wide range of applications in multiple sectors. Owing to its numerous properties, including flexibility, lightweight nature, durability, and insulating properties, polyurethane foam finds usage in various industries, including construction, packaging, electronics, and the automobile industry. One of the key drivers of this market is the increasing demand for fuel-efficient cars and energy-efficient buildings, which can be easily met through the exceptional insulating properties of polyurethane foams that help reduce energy consumption. Moreover, the demand for polyurethane foams in mattresses and cushions is fueled by the growing furniture and bedding industry, driven by rising consumer incomes and increasing urbanization.

Based on the end-use industry, the furniture & bedding segment is expected to register the highest CAGR during the forecast period. One of the critical factors leading to this high growth is the rise in demand for high-quality, comfortable bedding and furnishings due to the increase in urbanization and financial stability, especially in developing countries. For instance, flexible polyurethane foam is in high demand in this industry due to its durability and toughness, so it is mainly used in cushions, mattresses, and pillows. In addition, the rising demand for sustainable and bio-based materials for bedding and furniture industry is also contributing to the growth of this market.

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Based on region, Asia Pacific is expected to register the highest CAGR during the forecast period. This can be attributed to India and China's rapid industrialization and infrastructure development. Moreover, the booming automotive and packaging industry contributes to the market where polymer foams are extensively used in interior trim, cushioning, and protective packaging of vehicles and other products. The increased middle-class population and growing consumer spending on furniture and bedding further boost the demand for polymer foams in home furnishing products.

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