Foam Market

Foam Market Outlook from 2024 to 2034

The global Foam Market size is estimated to stand at USD 109.6 billion in 2024. The market is projected to exceed a valuation of USD 179 billion by 2034, registering a moderate CAGR of 5.0%.

Foam Market Overview:

• Foam demand is on the rise since manufacturers have introduced innovative applications across various industries, driving increased consumer interest and utilization.
• The construction of new homes, the refurbishment of non-residential structures, and increased infrastructure expenditures in China, India, and Brazil are propelling the market's expansion. Therefore, there is likely to be more than a 1.64X surge in the sales of foams by 2034.
• The global trends in the foam industry spotlight a shift toward sustainable materials, technological advancements enhancing product performance, and an increasing focus on recycling and circular economy principles to minimize environmental impact.

Attributes	Details
Foam Market Size (2024)	USD 109.6 billion
Forecasted Foam Industry Outlook (2034)	USD 179 billion
Projected Value CAGR (2024 to 2034)	5.0%

Key Factors Influencing the Foam Market Growth

Foams are Transforming Construction with Unmatched Insulation Performance! The construction sector is significantly fueling the growth of the foam technology market due to its extensive use in insulation applications.

• As energy efficiency regulations become stricter, there is a rising demand for high-performance insulation materials like foams to minimize heat transfer and reduce energy consumption in building constructions.
• To comply with construction-material class A1 and have low thermal conductivity, researchers at the Fraunhofer WKI, together with IGP Chemie GmbH, created a non-combustible filling and installation foam sheet in January 2024.
• Foams offer superior thermal insulation properties, ease of installation, and durability. This makes them preferred choices for both residential and commercial construction projects.

Urbanization Sparks a Surge in Demand for Advanced Foams! Increasing urbanization and infrastructure development activities are fueling the demand for foams in the furniture industry.

• Rapid urbanization has led to a surge in demand for furniture and mattresses, where foams are widely used for cushioning and padding purposes.
• Neveon introduced Foam.hybrid Endura, a lighter, more environmentally friendly PU foam for mattresses, in January 2024. Compared to traditional HR mattress cores with an equivalent lifespan, this foam mattress produces around 70% fewer emissions.
• Advancements in foam technology, such as the development of memory foam and eco-friendly alternatives, are further driving their adoption in the furniture sector.
• Sleepwell released their most recent Pro Nexa® Mattress in October 2023. It's a revolutionary development in sleep technology that makes the widely used memory foam obsolete.

Foams Take the Automotive Industry by Storm with Lightweight Solutions! Growing demand from the automotive industry is pushing the automotive foam market expansion considerably.

• With increasing emphasis on lightweight materials to improve fuel efficiency and reduce emissions, foams are being extensively used in vehicle interiors and components.
• Foams offer benefits such as noise reduction, vibration damping, and enhanced comfort, further boosting their adoption in the automotive sector.
• The high-performance gap-closing foam invention BETAFOAM was introduced by Dow Thailand Group (Dow) for use in automotive applications in December 2023. Its ability to reduce noise is exceptional. It contributes to strengthening the vehicle's structure and is 50% lighter.

Foams Dominate the Packaging Industry with Unbeatable Protection and Sustainability! With the rise of eCommerce and online commerce, the packaging sector has an important mark on the foam industry.

• Foams are lightweight, cost-effective, and recyclable. This makes them ideal choices for packaging applications across various industries.
• Foam packaging materials, such as expanded polystyrene (EPS) and polyurethane foam, offer excellent cushioning and protective properties. Since these ensure the safe transportation of goods during shipping and handling, they are highly appealing to the eCommerce sector.
• The furniture store XXXLutz Group began investigating revolutionary substitutes for traditional packaging materials in January 2024, collaborating with Stora Ens to introduce Papira® and Fibrease®. Since the foam boards are recyclable, they can be disposed of with paper and placed back into the cycle.

Sustainable Foam Solutions Revolutionize Market amidst Oil Price Fluctuations! The recent fluctuation in oil prices, along with the emergence of sustainable foam, significantly impacted the profitability of the foam packaging market.

• Bio-based polyols that can potentially be utilized to make foam were developed as a result. In terms of cost and sustainability, bio-derived materials-like soy-based polyols-are considerably superior to traditional polyols. They are also less susceptible to hydrolysis and have greater thermal stability.
• Foam producers are always working to implement sustainable business strategies in response to the rising concerns about the use of plastics and fossil fuels.
• Covestro and Poland-based Selena Group, a manufacturer of construction chemicals, joined forces in September 2023 to develop a line of more environmentally friendly polyurethane (PU) foams that improve thermal insulation in buildings.

Obstacles Compressing the Foam Market Revenue Expansion

The product cost structure is determined by raw material price and availability. Toluene, phosgene, polyol, and benzene are the main basic components used to produce foam. These derivatives are derived from petroleum and are subject to price changes.

Conflict and growing global demand are the main reasons why oil prices are still quite erratic. The volatility of petrochemical-based raw material prices has impacted the foam industry in recent years.

Persistent global demand has also led to a tightening of supply and a spike in the price of raw materials, along with capacity limitations of primary chemicals and resins.

The past several years have experienced extreme pricing pressure on the polyols market as a result of changes in the price of crude oil. The primary cause of the increase in the cost of producing polyols is the growing cost of important raw materials like propylene and propylene oxide, which are petroleum product derivatives.

Producers face increased pricing pressure since capital and raw material expenses make up a large amount of the costs associated with producing foam.

Historical Market Study on Foam alongside Future Projections

From 2019 to 2023, the foam industry showed promising growth, boasting a 6.0% CAGR. During this time, advancements in manufacturing technologies contributed significantly to the expansion of foam product offerings.

Moreover, as sustainability became a more significant concern, the development of eco-friendly foam alternatives gained traction, driving innovation and market diversification.

Historical CAGR (2019 to 2023)	6.0%
Forecasted CAGR (2024 to 2034)	5.0%

The market for foams is expected to exhibit a lower CAGR compared to the historical period. Despite the anticipated decrease in growth rate, the foam market global forecast anticipates considerable progression driven by increasing emphasis on healthcare and medical applications.

At present, foams are extensively used in medical devices, wound care products, orthopedic supports, and prosthetics. This is due to their excellent cushioning, shock absorption, and pressure distribution properties.

Manufacturer of infection control products, Tristel, requested regulatory clearance in September 2023 for its hand-applied Tristel ULT high-level disinfection foam, which is intended for use as a Class II medical device for endo-cavity ultrasound probes and skin surface transducers.

This is expected to have a highly positive impact on the global demand for foams.

Foam Market Trends

• An evolving trend in the foam market highlights the emergence of the sustainable foam material market because of the growing preference for eco-friendly materials.
• Growing awareness about the importance of soundproofing is leading to an increased use of foam in acoustic applications.
• There is an emerging trend of using foam in sports and recreational equipment for safety and performance enhancement.
• Rising interest in customizable foam solutions for specialty applications such as custom packaging inserts and medical implants.
• The industry is expected to present prospects with the use of polymer-based memory foams in the production of shoe soles.

Demand Analysis of Foam by Region

The North America foam market stands out as a dominant force. The region is home to a sizable vehicle manufacturing industry. Additionally, the necessity for efficient packing solutions like packaging foams is fueled by the expansion of the retail industry.

Europe is witnessing continuous and steady growth in demand for foams. Several countries in the region have established advantageous policies and incentives to support businesses that employ eco-friendly, lightweight materials like foams.

The Asia Pacific foam manufacturing market is likely to progress significantly. Growing disposable income and the increasing recognition of online retailers like Flipkart and Amazon represent a few of the reasons propelling the industry.

Country	United States
Forecasted CAGR (2024 to 2034)	5.3%
Market Size by 2034	USD 32.4 billion

Country	United Kingdom
Forecasted CAGR (2024 to 2034)	5.5%
Market Size by 2034	USD 7.1 billion

Country	China
Forecasted CAGR (2024 to 2034)	5.9%
Market Size by 2034	USD 29.2 billion

Country	Japan
Forecasted CAGR (2024 to 2034)	6.1%
Market Size by 2034	USD 19.9 billion

Country	South Korea
Forecasted CAGR (2024 to 2034)	7.5%
Market Size by 2034	USD 10.9 billion

Healthcare and Defense Spending Boost Foam Adoption in the United States

Demand for foams in the United States is set to rise with an anticipated CAGR of 5.3% through 2034. Key factors influencing the packaging foam market share in this country include:

• The United States spends twice as much on healthcare as other countries. At the same time, military spending has been regarded as the second-largest portion of the government budget in the United States. Foam is, therefore, becoming more popular in these two sectors. FDA recognized a military-focused abdominal trauma foam as a breakthrough product.
• With the launch of Stablebase™ 2.0 Max R and Stablebase™ 0.5 Max Yield polyurethane foam spray in September 2023, the United States-based Firestable™ Insulation Company increased its market penetration in the insulation industry.

Foam Demand in the United Kingdom Soars on the Back of Sustainable Innovations

The market in the United Kingdom is expected to surge at a CAGR of 5.5% through 2034. The topmost aspects supporting the polyurethane foam market extension in the country include:

• Developments in foam technology, such as the creation of sustainable and environmentally friendly materials, have helped to expand the industry. Furthermore, sales for foam insulation products have increased due to the growing emphasis on energy efficiency and insulation in buildings.
• The government's attempts to encourage the usage of bio-based goods and growing awareness of the negative environmental effects of traditional foam products are propelling the growth of the molded foam market size.

China's eCommerce Leadership Sparks Growth in Packaging Foam Industry

The China foam market is forecasted to inflate at a CAGR of 5.9% through 2034. Noticeable influences backing up the expanded polystyrene market growth are:

• According to the International Trade Administration, China accounts for about half of all global eCommerce transactions, making it the world's top market. China surpassed the United States as the world's leading eCommerce market in 2021, bringing in USD 1.5 trillion in revenue. This, in turn, has fueled the packaging foam market share.
• Global giants are aiming for market dominance through product releases since the foam plastics market in China is so profitable. For instance, the Germany-based Armacell, which produces designed foams, stated on May 18, 2020, that its PET foam extrusion line has been installed at its Suzhou, China, plants.

Foam Industry in Japan Benefits from Government-Industry Collaboration

Sales of foams in Japan are estimated to record a CAGR of 6.1% through 2034. The principal factors bolstering the market are:

• The government's initiatives help foster an atmosphere supporting the expansion of the industrial foam market size. The JIS A9516 standard for flexible elastomeric foam thermal insulation materials was released in January 2022 by the Ministry of Economy, Trade, and Industry of Japan in collaboration with Armacell.
• Given Japan's reputation for technical innovation, foams are gaining a lot of attention. Lion Corporation unveiled their latest product, FERZEA PREMIUM HP Boost Foam, on September 20, 2023. It is a thick foam therapy treatment for dry skin that repairs facial dryness by working from the skin's base up.

Polyurethane Foam's Popularity Propels South Korea's Market Growth

The market in South Korea is likely to exhibit a CAGR of 7.5% through 2034. Reasons supporting the growth of polymer foam market in the country include:

• South Korea's thriving manufacturing sector and technological advancements have contributed to the foam insulation market expansion. Polyurethane foam demand, in particular, has increased due to its versatility, durability, and insulation properties.
• Global recognition is emerging for South Korea's foam product market. For example, SD introduced a portfolio of viscoelastic foam with several batches ranging from 20 kg to 1 ton. Numerous South American regional markets have shown an increase in demand for this novel viscoelastic foam formulation.

Foam Market Analysis by Segment

As far as the resin type of foam is concerned, the polyurethane segment is likely to dominate through 2034, registering a CAGR of 4.9%. Similarly, the flexible foam segment is expected to dominate the revenue share of foams in terms of type, with a projected CAGR of 4.8% through 2034.

Segment	Forecasted CAGR (2024 to 2034)
Polyurethane	4.9%
Flexible Foam	4.8%

Polyurethane Foam Emerged as the Go-to Choice in Packaging

The polyurethane segment is anticipated to lead the way, holding an impressive foam market share. Here are a few key dynamics that contribute to its approval:

• The most common substance used in the creation of packing foam is polyurethane (PU).
• Over the past few decades, polyurethane foam has grown in popularity as a protective material for lightweight and fragile products.
• Its many appealing qualities include being lightweight, having a high level of abrasion resistance, having good insulation, and being environmentally friendly.
• It is easily adaptable to fit a wide range of uses. Its exceptional resistance to mildew makes it the perfect packaging choice for foods or other items that are sensitive to moisture.

Flexible Foam Emerges as Top Choice for Long-lasting Protection

The flexible foam type takes the top spot in the foam industry, a trend validated by factors such as:

• The flexible foam market is growing considerably since this type of foam finds applications in cushioning, apparel padding, and filtration.
• Sales of flexible foam packaging have been driven by the growing use of this material to safeguard delicate items, including computer components, jewelry, and electrical equipment.
• Flexible foam is so lightweight. It can assist in reducing emissions in transportation-related applications, which restricts the rigid foam market expansion.
• Flexible colored PU foam is simply customizable and offers long-lasting protection for many delicate objects.

Competitive Landscape

Foam market players employ diverse strategies to gain a competitive edge. Rogers Corporation focuses on innovation, leveraging advanced materials for high-performance applications. Eco-friendly foam solutions are provided by Sealed Air Corporation, which places a strong emphasis on sustainability.

DuPont places a high priority on research and development in an effort to advance foam technology. The Dow Company is an expert at customizing foam products to meet the demands of particular industries.

Nova Chemicals Corp. takes a customer-first stance, offering thorough assistance and adaptable solutions to satisfy a range of market demands.

Recent Developments

• CCL Design confirmed the release of its latest acrylic foam tape line, the 5400 LSE series, in November 2023. Primerless adherence to plastics, an incredibly strong adhesive to PP, and excellent bonding to automotive paints are all hallmarks of the 5400 LSE series.
• Nike debuted ReactX, the latest iteration of its cutting-edge foam technology, in November 2023. The upgraded foam has been integrated by the company into the InfinityRN 4 model. Compared to the Nike React foam that was previously utilized in the collection, the upgraded foam runner provides a better energy return.
• Magna unveiled its EcoSphere™ product line in October 2023. This is the first solution of its kind in the industry that uses a 100% melt-recyclable foam and trim system made of mono-material polyethylene terephthalate (PET). Foam, assemblies, trim padding, and ecological trim materials make up Magna's fresh EcoSphere product line.
• Westside's Cruz Foam introduced new environmentally friendly foam tubes and pellets in July 2023. These products are manufactured from recycled shrimp shells and are used to create specialty packaging.
• The Gilman Brothers Company unveiled their new Resilient Soft Touch Foam in January 2023. Brand owners and industry executives are giving it great evaluations. Recognized for its compressive and tension rebound qualities, the patent-pending material has swiftly emerged as the product category with the quickest rate of growth.

Key Players

• Rogers Corporation
• Sealed Air Corporation
• DuPont
• The Dow Company
• Nova Chemicals Corp

Key Segments in the Foam Market Report

By Resin Type:

• Polyurethane
• Polystyrene
• Polyolefin
• Phenolic
• PET
• Others

By Type:

• Flexible Foam
• Rigid Foam

By End-use Industry:

• Building & Construction
• Packaging
• Automotive
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa (MEA)

Frequently Asked Questions

How Big is the Foam Market?

The foam industry is forecasted to be valued at USD 109.6 billion in 2024.

What is the Demand Forecast for Foams?

The foam market value is projected to surpass USD 179 billion by 2034.

What is the Projected CAGR for the Foam Market?

The CAGR of the foam industry is estimated to be around 5.0% through 2034.

Which Country is the Largest Producer of Foams?

The United States and China are the key producers of foam as of 2024.

Which Company is Best for Foam?

DuPont and The Dow Company are foam industry leaders.