Rigid Foam Market

Rigid Foam Market Overview for 2024 to 2034

The rigid foam market is anticipated to be worth USD 78.5 billion in 2024. The market is expected to grow at a CAGR of 8.9% from 2024 to 2034. By the end of the forecast period, the market value is predicted to hit USD 184.0 billion.

Attributes	Details
Rigid Foam Market Value for 2024	USD 78.5 billion
Projected Market Value for 2034	USD 184.0 billion
Value-based CAGR from 2024 to 2034	8.9%

Rigid Foam Market Analysis

• Building and construction materials are being encased with rigid foam to ensure their safety, and thus, the increasing use of the material in the construction industry is positively affecting the market.
• Electrical and other applications are being packaged with the help of ridged foam to prevent damage, and as the sale of these appliances grows with the online boom, the rigid foam industry is benefitting.
• Rigid foam’s weight reduction capabilities are being utilized by the automobile industry in increasing measure, as the demand for lighter-weight, and thus more efficient, cars increases.
• Government encouragement for growth in the packaging sector is helping the rigid foam market’s prospects.
• Insulation is a capability that is much in demand for the packaging of products. Rigid foam, with its high insulation capabilities, satisfies the demands of industrialists.

Rigid Foam Market Trends

• The popularity of bio-based rigid foams is increasing as industries become part of the sustainability trends and manufacturers look towards eco-friendly materials.
• As automotive manufacturers look to increase the comfort of the passengers, rigid foam is being used in cushion seats, headrests, and other interior accessories of cars.
• Rigid foams are becoming commonplace in furniture. With the burgeoning construction industry, more residences and offices with furniture requirements are cropping up, thus propelling the rigid foam industry.
• Rigid foam’s insulation and energy-saving properties are helping companies in the construction sector meet sustainability standards.
• Demand for aesthetically pleasing furniture in residences and offices is growing, with a rise in home décor trends. Rigid foam is being utilized in the making of furniture with eye-catching properties, such as carpets and mattresses.
• Rigid foam is renowned for its long-lasting tenure, and thus, industrial units are making increasing use of the material.
• Manufacturers in the rigid foam industry have to contend with the volatility in prices, especially of materials like plastic, whose use is under strict guidelines.

Category-wise Outlook

Polyurethane (PUR/PIR) foam is the top type of foam in the market. Rigid foam is predominantly used in the building & construction industry.

Lightweight Nature of Polyurethane (PUR/PIR) Foam Makes it the Preferred Rigid Foam Among Industrialists

From 2024 to 2034, polyurethane (PUR/PIR) foam is expected to progress at a CAGR of 8.5%. Some of the key drivers for the increasing use of polyurethane (PUR/PIR) foam are:

• Polyurethane (PUR/PIR) foam’s lightweight but still sturdy nature is making it a hit in the packaging industry.
• Polyurethane foam is well-regraded for its versatility, offering benefits like insulation, safety, and energy conservation, among others, and is thus being trusted by suppliers.

Attributes	Details
Top Foam Type	Polyurethane (PUR/PIR) Foam
CAGR (2024 to 2034)	8.5%

Increasing Insulation Demands of the Building & Construction Industry Being Satisfied by Rigid Foam

The building & construction industry finds application of rigid foam. Some of the key drivers for the progress of the segment include:

• Buildings require insulation in increasing capacity, as part of the rising measures for building safety. Rigid foam is being used in increasing quantities in the building & construction industry.
• Construction companies are mandated to meet certain sustainability standards, and the energy-conserving nature of rigid foam is helping them achieve those standards.

Attributes	Details
Top End-use Industry	Building & Construction
CAGR (2024 to 2034)	8.4%

Country-wise Analysis

Asia Pacific’s industrial boom is helping out the market’s growth in the region. The building & construction industry’s rapid growth in the region, with the surge in population, is also benefitting the market.

Governmental help for manufacturing is boosting the market in Europe. The popularity of online sales of appliances and furniture is bolstering the market in North America.

Countries	CAGR
South Korea	11.3%
Japan	10.2%
China	9.5%
United Kingdom	10.1%
United States	9.0%

Japan’s Considerable Premium Automobile Segment Driving Demand for Rigid Foams

The market in Japan is set to register a CAGR of 10.2% over the forecast period. The key drivers for growth are:

• Japan’s luxurious automobile production is thriving and these cars are making use of rigid foam in their interiors to maximize customer comfort.
• Sales of electrical appliances are growing in Japan at a rapid pace, and thus, rigid foam used in packaging is witnessing an increasing demand.

China’s Ubiquitous Middle Class Enables the Market’s Progress in the Country

The CAGR for the market in China is expected to be 9.5% over the forecast period. Some of the key factors driving the market’s growth are:

• China’s growing middle-class population is making sure of the progress of the building & construction as well as the furniture industry in the country. The furthering of these industries is benefitting the cause of rigid foam in China.
• Increasing governmental measures regarding sustainability in the construction sector are making it clear to builders in the country that rigid foam is the way to go.

South Korean Population’s Online Obsession Boosting Product Demand

The CAGR for the market in South Korea is expected to be 11.3% over the forecast period. Some of the key factors driving the market are:

• With rising online shopping in South Korea, sales of products that require rigid foam packaging are growing.
• Public and private investment in the construction industry is climbing in South Korea, with the effect of increasing the demand for rigid foam.

Popularity of Home Décor and Renovations in the United Kingdom Ensures Rise in Demand for Rigid Foam

The market in the United Kingdom is expected to register a CAGR of 10.1%. Some of the key trends include:

• People in the United Kingdom are paying increasing attention to the interiors of their homes, with rising disposable income as a key factor. Thus, home décor and renovation trends are prominent in the country. These renovated homes incorporate rigid foam furniture in their décor, ensuring the market’s progress.
• The rising focus on aesthetics in homes is propelling the use of rigid foam in furniture in the United Kingdom.

Increased Focus on Sustainability in the United States Driving Sales of Bio-based Rigid Foam

The market in the United States is expected to register a CAGR of 9.0% through 2034. Some of the key trends include:

• In line with sustainability trends, rigid foams are increasingly being manufactured in the United States with eco-friendly materials. Thus, bio-based is seen as the way to go forward for rigid foam in the country.
• The United States’ packaging industry is booming due to factors such as rising online sales and rising food & beverage needs, and thus the markets for packaging materials are also experiencing growth, including rigid foam.

Competitive Landscape in the Rigid Foam Market

The market for rigid foam is dominated by a few players that have established a name for themselves. However, there is still room for medium and small-scale players.

While common materials in the market such as polystyrene and polypropylene are as popular as ever, manufacturers are also looking at newer materials, especially eco-friendly ones. To increase their footprint in the market, reputed companies are looking at acquisitions of smaller market players.

Recent Developments in the Rigid Foam Market

• In August 2023, a paper was published in the journal Polymers by researchers from Thailand, Malaysia, and Singapore, demonstrating the successful conversion of pineapple waste into rigid foam.
• In September 2023, a team of researchers from Zhejiang University, China showcased a way to convert polyurethane foam into 3DF printing resins.
• In July 2023, Sheela Foam internally approved and began procedures for the acquisition of a majority stake in Kurlon Enterprise Limited.

Key Companies in the Rigid Foam Market

• Huntsman Corporation
• The Dow Chemical Company
• BASF SE
• Sekisui Chemical Co., Ltd.
• Trelleborg AG
• Future Foam, Inc
• Elliott Co. of Indianapolis, Inc.
• Recticel S.A.
• Foamcraft, Inc.
• UFP Technologies, Inc.
• Rogers Corporation
• Wanhua Chemical Group Co., Ltd.
• Saint-Gobain S.A.
• Covestro AG
• JSP Corporation

Key Coverage in the Rigid Foam Industry Report

• Rigid Foams Market Share Analysis
• Global Rigid Polyurethane Foams Market Coverage
• Rigid Spray Polyurethane Foam Market Report
• North America Rigid Foam Panels Market Assessment
• Industrial Foam Market Size Report
• Foam Insulation Market Coverage

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Foam Type
  • 5.1. Polyurethane (PUR/PIR) Foam
  • 5.2. Polystyrene Foam
  • 5.3. Polypropylene Foams
  • 5.4. Polyethylene Foam
  • 5.5. Polyvinyl Chloride Foam
  • 5.6. Others
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-Use Industry
  • 6.1. Building & Construction
  • 6.2. Appliances
  • 6.3. Packaging
  • 6.4. Automotive
  • 6.5. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. BASF SE
  • 17.2. DOW Chemical Company
  • 17.3. Huntsman Corporation
  • 17.4. Covestro AG
  • 17.5. JSP Corporation
  • 17.6. Roger Corporation
  • 17.7. Borealis AG
  • 17.8. Armacell International S.A.
  • 17.9. Sealed Air Corporation
  • 17.10. Zotefoams PLC
  • 17.11. Owens Corning
• 18. Assumptions & Acronyms Used
• 19. Research Methodology