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Report Overview
The global foam plastics market reached a value of about USD 116.64 Billion in 2024. The industry is further expected to grow at a CAGR of 3.40% in the forecast period of 2025-2034 to reach nearly USD 162.95 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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The Asia Pacific to Account for a Significant Share of the Market for Foam Plastics
The Asia Pacific region is one of the significant markets for foam plastics owing to the rising demand for the polymer in various end-use industries. The growth in the region can be attributed to rapid industrialisation and the increasing investments in major industries, such as building and construction, packaging, automotive, building and construction, and furniture and bedding, among others. With rapid urbanisation and the consequent infrastructural development in emerging economies in the region, the demand for foam plastics is significantly increasing. Moreover, the rising construction and infrastructure development activities by governments and private companies are expected to increase the demand for foam plastics, which is anticipated to contribute to the overall growth of the industry.
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Foam Plastics: Market Segmentation
Foam plastics, variously known as cellular polymers or expanded plastics, are made from polymers. A synthetic resin is transformed into a sponge-like mass with a closed-cell or open-cell structure that can be flexible or rigid for the formation of foam plastics. Foam plastics with a closed-cell structure are formed by incorporating a blowing agent that decays at the fusion point of the plastic, discharging gas bubbles that are entrapped throughout the gelling. Meanwhile, foam plastics with an open-cell structure are produced by incorporating an inert gas into the resin under pressure and subsequently removing the mixture from the atmosphere and curing the resulting foam.
Market Breakup by Type:
- Polyurethane
- Polystyrene
- Polyolefin
- Phenolic
- Others
Market Breakup by Application:
- Building and Construction
- Packaging
- Automotive
- Furniture and Bedding
- Footwear, Sports, and Recreational
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Growing Applications of Foam Plastics in Various End-Use Industries Augmenting the Market Growth
Due to rapidly expanding end-use sectors, the foam plastics industry is witnessing a boom. This can be attributed to economic expansion in developing nations and major end-use sectors like building and construction, automotive, packaging, and furniture and bedding, among others. As manufacturers and merchants are increasingly attempting to enhance the safety and cost-efficiency of packaging solutions, the demand for foam plastics in the packaging industry is surging. In addition, foam plastics are sustainable and can be disposed of by incineration, the by-products of which are utilised as a fuel source for waste-to-energy programs in municipalities, hence driving the market growth.
With the robust growth of the automotive industry, the demand for foam plastics is significantly surging. The extensive use of foam plastics like polyurethane in armrests, seats, and headrests of passenger cars owing to their cushioning properties is propelling the market growth. As foam plastics are lightweight and durable, they are increasingly utilised to enhance the cost-effectiveness and fuel-efficiency of automobiles. Moreover, the rising preference for vehicles with enhanced features such as shock absorption is surging the demand for innovative foam plastics, which is expected to provide impetus to the market growth.
Key Industry Players in the Global Foam Plastics Market
The report gives a detailed analysis of the following key players in the global foam plastics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Alchemie Ltd.
- Covestro AG
- Hexion Inc
- Huntsman Corporation
- BASF SE
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the global foam plastics market attained a value of about USD 116.64 Billion.
The market is projected to grow at a CAGR of 3.40% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach nearly USD 162.95 Billion by 2034.
The major drivers of the market include the increase in population, rise in the number of construction and infrastructure development, development projects undertaken by governments, and renovation of non-residential buildings.
Economic expansion in developing nations and investments in new housing projects are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of foam plastics are polyurethane, polystyrene, polyolefin, and phenolic, among others.
The various applications of foam plastics in the market are building and construction, packaging, automotive, furniture and bedding, and footwear, sports, and recreational, among others.
The major players in the industry are Alchemie Ltd., Covestro AG, Hexion Inc, Huntsman Corporation, and BASF SE, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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