Increasing Demand for Furniture Products Escalates Molded Foam Market Growth
According to our new research study on “Molded Foam Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Form, Material, and Application,” the molded foam market size is expected to grow from US$ 13,524.21 million in 2022 to US$ 22,689.54 million by 2030; it is estimated to register a CAGR of 6.7% from 2022 to 2030. The report highlights key factors driving the molded foam market growth and prominent players along with their developments in the market.
The global molded foam market encompasses the production and utilization of foam-based materials such as expanded polystyrene (EPS), polyurethane foam (PU), expanded polyethylene (EPE), etc. across a diverse range of industries. These versatile materials are molded into various shapes and sizes to serve multiple purposes, including protective packaging for fragile items, insulation in construction, manufacturing automotive components, and making comfortable seating and padding in furniture.
Global Molded Foam Market Breakdown – by Region
Molded Foam Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Closed Cell Foam, High Resilience Foam, Integral Skins Foam, Memory Foam, and Others), Form (Rigid Foam and Flexible Foam), Material (Expanded Polystyrene, Polyurethane Foam, Expanded Polyethylene, Expanded Polypropylene, and Others), and Application (Seating and Furniture, Automotive Interior, Bedding and Mattresses, Footwear, and Others)
Molded Foam Market Size Analysis| Opportunities & Forecast 2030
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Over the years, the global molded foam market has reported steady growth due to factors such as the rising demand for lightweight and energy-efficient materials, growing automotive and construction sectors, and increasing emphasis on sustainability. Manufacturers focus on eco-friendly foam production and explore recycling options to align with environmental concerns. Furthermore, advancements in technology and research have led to the development of sophisticated and efficient molded foams, which fuels the molded foam market expansion.
Superlon Baltic UAB, Carpenter Co, Intex Technologies LLC, Sheela Foam Ltd, Vita (Holdings) Ltd, Sinomax Group Ltd, International Industries LLC, Pomona Quality Foam LLC, Woodbridge Foam Corp, and CT Formpolster GmbH are among the key players operating in the global molded foam market. Market players focus on providing high-quality products to fulfill customer demand. They also adopt strategies such as investments in research and development activities and launching new products.
Impact of COVID-19 Pandemic on Molded Foam Market
The COVID-19 pandemic adversely affected economies and industries in various countries due to lockdowns, travel restrictions, and business shutdowns. The chemicals and materials industry was severely affected by disruptions in supply chains and shutdowns of production plants in the initial phases of the pandemic. The crisis caused disruptions in the global supply chain due to factory shutdowns, transportation restrictions, and labor shortages. These upheavals hindered the availability of chemicals and packaging components, leading to potential supply chain delays and increased operating costs for molded foam manufacturers. The COVID-19 pandemic has led to an increased demand for certain products, such as pharmaceuticals, healthcare supplies, and essential consumer goods.
The report includes the segmentation of the global molded foam market as follows:
The global molded foam market is segmented on the basis of type, form, material, and application. Based on type, the molded foam market is segmented into closed cell foam, high resilience foam, integral skins foam, memory foam, and others. Based on form, the molded foam market is bifurcated into rigid foam and flexible foam. Based on material, the molded foam market is segmented into expanded polystyrene, polyurethane foam, expanded polyethylene, expanded polypropylene, and others. Based on application, the molded foam market is segmented into seating and furniture, automotive interior, bedding and mattresses, footwear, and others. By geography, the global molded foam market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America molded foam market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific molded foam market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America molded foam market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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