Global Foam Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Foam Market Growth

In 2023, retail e-commerce sales globally soared to USD 4.4 trillion in 2023. This suggests that around 20% of overall retail sales occur online. By 2028, retail e-commerce sales globally are expected to rise to USD 6.8 trillion and account for 24% of global retail sales. As a substantial portion of consumers retain their preference for brick-and-mortar stores, they are expected to record USD 21.9 trillion worth of retail sales by 2028. This can directly impact the demand for effective packaging solutions, leading to the foam market development over the forecast period.

Polyurethane foam is a lightweight construction material. It provides strong reinforcement to building walls and floors, thereby facilitating the construction of lightweight structures. It can also provide a high degree of fire resistance to buildings if formulated with fire retardants. It is also extensively used for soundproofing walls, floors, and ceilings in commercial buildings. Over the forecast period, the growth of the construction industry is expected to drive the foam market expansion, especially expanding foam, which can be utilised to fill gaps and joints in windows and other housing openings.

Key Trends and Developments

Global Foam Market Trends

Researchers at Northwestern University, in collaboration with BASF, have engineered a new foam-to-foam recycling process for industrial scrap plastics. Under this, a non-toxic zirconium-based catalyst is embedded into the plastic, which reshapes itself at high temperatures. The addition of a foaming agent results in results in the generation of gas bubbles that remain encapsulated in the plastic, resulting in the creation of an old polyurethane foam. This can be used for different applications and recycled again. Thus, the foam market value is expected to register significant growth, due to the increasing focus of companies on circular economic development.

Global Foam Industry Segmentation

Global Foam Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the demand for foam in the Asia Pacific is expected to grow at a CAGR of 5.9% due to the growing demand for foam-based packaging materials by the e-commerce industry. Moreover, the foam market dynamics are being favourably influenced by the growth of rapid infrastructure development in the region.

Leading Companies in the Global Foam Market

Major players are partnering with research institutions to discover innovative methods of recycling foam, which is increasing the foam market value.

Armacell International S.A.

Armacell International S.A. was founded in 2000 and is headquartered in Luxembourg. It specialises in the production of technical foams, PET foams, advanced insulation equipment, and engineered systems.

Rogers Foam Corporation

Rogers Foam Corporation was founded in 1947 and is headquartered in Massachusetts, United States. It is a lead...

Foamcraft, Inc.

Foamcraft, Inc. was founded in 1952 and is headquartered in Indianapolis, United States. It is a leading regio...

Zotefoams plc

Zotefoams plc was founded in 1921 and is headquartered in Surrey, United Kingdom. It is engaged in producing l...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the foam market report are BASF SE, Covestro AG, The Dow Chemical Company, Recticel Engineered Foams Belgium BV, Sealed Air Corporation, and Kaneka Corporation, among others.