Structural Foam Market Size To Reach $47.3 Billion By 2030

Structural Foam Market Growth & Trends

The global structural foam market size is expected to reach USD 47.3 billion in 2030 and is projected to grow at a CAGR of 3.9% from 2024 to 2030. Owing to Increasing infrastructure spending, particularly on residential & commercial buildings, has been a key factor driving the market growth. Moreover, the rising demand from material handling, automobile, and electrical & electronics, is also likely to contribute to the product demand over the forecast period. 

Increasing construction spending, particularly in emerging markets of Brazil, China, India, Mexico, Russia, and South Africa is expected to drive injection molded structural foam demand in these regions. Besides, positive outlook of the global automotive and packaging industries coupled with versatile properties of structural foams including better heat and pressure resistance increases their application scope in various industries.

However, volatility in prices of essential raw materials along with the growing environmental issues concerning their disposal is anticipated to hamper the market growth during the forecast period. On account of these concerns, many of the industry participants are aiming to develop bio-based foams using the injection molding technique.

Key market players such as SABIC, One Plastic Group, and Covestro AG are among the companies involved in the production and distribution of the products and have established themselves as key market participants and have high integration throughout the value chain.

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Structural Foam Market Report Highlights

• Polyethylene dominated the market and accounted for the largest revenue share of 36.7% in 2023 pertaining to its extensive and consistent usage in automotive, packaging, electronics, and electrical applications, to make strong, durable, and lightweight items

• The automotive segment is expected to grow at a CAGR of 4.3% over the forecast period owing to a focus on improving and innovating specialized materials by continuous research for creating lightweight components for vehicles.

• Asia Pacific structural foam market is expected to grow with a CAGR of 4.3% over the forecast period. The opportunities for market growth are represented by the rising automotive and construction sectors in countries such as China, India, and Southeast Asian nations

 Structural Foam Market Segmentation

Grand View Research has segmented the global structural foam market report based on material, application, and region:

Structural Foam Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polyethylene

• Polypropylene

• Polystyrene

• Polyurethane

• Others

Structural Foam Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Material Handling

• Building & Construction

• Automotive

• Electrical & Electronics

• Others

Structural Foam Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U. S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Indonesia

  • Vietnam

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Structural Foam Market

• Evonik Industries AG

• SABIC

• SEKISUI CHEMICAL CO., Ltd.

• Carpenter Europe

• Tasuns Composite Technology Co. Ltd

• ALSTONE INDUSTRIES PVT. Ltd.

• CELLULAR MOULDINGS Ltd.

• MEGAFLEX Schaumstoff GmbH

• Arnon Plastic Industries Co. Ltd.

• BASF SE

• ARMACELL