Polymer Foam Market Size To Reach $588.99 Billion By 2030

Polymer Foam Market Growth & Trends

The global polymer foam market size is anticipated to reach USD 588.99 billion by 2030 and is anticipated to expand at a CAGR of 23.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Polymer foams are often lightweight, have high energy absorption, a high strength-to-weight ratio, and provide comfort due to their flexibility and softness. Growing population in the emerging economies of Asia Pacific, rising disposable income, and increase in purchasing power parity are the factors expected to propel the demand for automobiles over the forecast period.

Furthermore, various factors such as foam density, tensile strength, elongation, hardness, and vibration dampening are considered while designing the car seat. Providing comfort to an individual is also one of the key factors considered by automotive seat manufacturers. Polyurethane (PU) foams are durable, lightweight, versatile, resistant to corrosion & vibration, and recyclable and offer a high level of freedom in terms of geometric design.

Moreover, the growing global elderly population, particularly in Japan and Germany, has increased demand for memory foam-based bedding products including mattresses and pillows. Mattresses manufactured from these foams support the entire body and assist to relieve pain. Additionally, the growing influence of sustainable building materials is driving up demand for building materials that contribute to building energy efficiency. Polyurethane foams can assist in reducing the carbon emissions that lead to global warming by providing insulation to buildings. Some of the common application areas of polyurethane foams in buildings include pipes, roofs, cavity walls, and floors.

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Polymer Foam Market Report Highlights

• Polystyrene foam type dominated the source segment with more than 88.0% share in 2023. The growth in the construction sector, including residential, commercial, and infrastructure projects, drives the demand for expanded polystyrene foam foams due to their excellent thermal insulation properties.

• The polyurethane foam type segment is expected to grow at a significant CAGR over the forecast period.

• The building & construction application segment held the largest market share of 37.12% in 2023. Building & construction is expected to be the most important industry for polymer foam products owing to their various beneficial characteristics including excellent sound & thermal insulation, strength to weight ratio, load bearing capacity, and chemical resistance.

• The robust growth of building & construction and automotive industries coupled with ambitious wind energy capacity addition targets set by China, India, Germany, and the UK is expected to boost the demand for polymer foam across several end-use industries.

• Asia Pacific dominated the market owing to the substantial industrial growth and urbanization, which has resulted in an increase in demand for lightweight materials such as polymer foams in a variety of industries such as construction, automotive, packaging, and electronics. In addition, the Asia Pacific region has a vast and quickly rising population.

• In January 2023, Firestable Insulation Company launched industry-leading open & closed cell spray foam products, including StablebaseTM 2.0 Max R and StablebaseTM 0.5 Max Yield spray polyurethane foam (SPF). StablebaseTM 2.0 Max R is a two-component, next-generation hydrofluoroolefins (HFO) blown, closed-cell, spray-applied polyurethane foam solution. Similarly, StablebaseTM 0.5 Max Yield is a two-component, one-to-one, open-cell, spray-applied polyurethane foam.

Polymer Foam Market Segmentation

Grand View Research has segmented the global polymer foam market on the basis of type, application, and region:

Polymer Foam Type Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2033)

• Polyurethane Foam

• Polystyrene Foam

• PVC Foam

• Phenolic Foam 

• Polyolefin Foam

• Melamine Foam

• Others

Polymer Foam Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2033)

• Packaging

• Building & Constructions

• Furniture & Bedding

• Automotive

• Rail

• Wind

• Marine

• Others

Polymer Foam Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Singapore

  • Indonesia

• Central & South America (MEA)

  • Brazil

• Middle East and Africa (MEA)

List of Key Players in the Polymer Foam Market

• Arkema Group

• Armacell International S.A.

• BASF SE

• Borealis AG

• Fritz Nauer AG

• Koepp Schaum GmbH

• JSP Corporation

• Polymer Technologies, Inc.

• Recticel NV

• Rogers Corporation

• SEKISUI ALVEO AG

• Synthos S.A.

• DowDuPont, Inc.

• Trelleborg AB

• Zotefoams plc

• Woodbridge Foam Corporation

• Sealed Air Corporation