Foamed Plastics Market Size, Trends and Insights By Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, Others), By Application (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports, & Recreational, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Alchemie Ltd.
- BASF SE
- Covestro
- Hexion Inc.
- Huntsman International LLC
- Repsol
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Foamed Plastics Market is expected to record a CAGR of 4.9% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 55.9 Billion. By 2033, the valuation is anticipated to reach USD 87.9 Billion.
Foamed plastic is a material made by injecting gas bubbles into the polymer matrix. This process occurs during the manufacture of plastics or the addition of foaming agents. This polymer can be rigid or flexible depending on the formulation and manufacturing techniques. Foamed plastics are used in various industries due to their lightweight nature, insulating properties, and adaptability.
Several factors, including the expanding construction sector, government infrastructure spending in developing nations, rising demand from the automotive sector, technological advancements, rising consumer good usage, and the expansion of the electronics sector, are driving the foamed plastics market. However, environmental concerns and volatility in raw material prices are the major restraining factors for the industry’s growth.
- According to secondary analysis, India’s infrastructure investment will double to Rs 143 lakh crore during fiscal years 2024 and 2030, compared to 2017-2023.
- According to Invest India’s estimate, the construction sector in India will generate USD 1.4 trillion by 2025.
- According to the Society of Indian Automobile Manufacturers, overall passenger vehicle sales in India increased from 30,69,523 to 38,90,114 units. Sales of passenger cars also increased from 14,67,039 to 17,47,376, Utility vehicles from 14,89,219 to 20,03,718, and Vans from 1,13,265 to 1,39,020 units in FY-2022-23 compared to the previous year.
Foamed Plastics Market: Growth Factors
Rising demand for bio-based materials
The rising demand for bio-based materials drives the industry’s growth. The production of polyurethane foam requires Polyols, which are bio-based products. The polyurethane foam sector has been seeing a viable option to become more sustainable as the world grows concerned about the industry’s reliance on fossil fuels and the negative environmental impact of plastics.
Furthermore, market participants have a great opportunity to produce bio-based polyols for use in polyurethane foams and other applications. Polyols are a sustainable solution with greater efficiency. They are ideal raw materials for various final products and applications, including foam plastics, rigid foam, coatings, adhesives, sealants, and elastomers.
Growing focus on sustainability
The increasing global focus on sustainability is one of the prominent factors driving the industry’s expansion over the forecast period. The public and private players have made several efforts to collaborate to study the nature of plastics and vice versa.
For instance, in August 2023, Northwestern University and BASF researchers collaborated on the recycling of polyurethane foam. This collaboration intended to develop a new foam-to-foam recycling technique that uses greener catalysts and polyurethane foam and now continuously repurposes the use of PU foam.
Foamed Plastics Market: Recent Development
The foamed plastics industry adopted several strategies, which include product launches, acquisitions, collaboration, expansion, and others. Some of the company strategies include:
- In June 2022, BASF SE and Confoil collaborated to create DualPakECOâ, a certified biodegradable and dual-ovenable paper meal tray.
- In November 2022, Foamplant launched the world’s first and only fully circular, sustainable open-cell foam, Moorefoam®, at Foam Expo Europe. Patented Moorefoam® technology enables circular production in the bedding, furniture, automotive, and avionics sectors.
These product launches and collaboration strategies have expanded the company’s market presence in the foamed plastics industry and given it a competitive edge.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Foamed Plastics Market | Europe Building Insulation Market | Synthetic Ethanol Market |
| CAGR 4.9% (Approx) | CAGR 2.89% (Approx) | CAGR 6.5% (Approx) |
| USD 87.9 Billion by 2033 | USD 15.17 Billion by 2033 | USD 92,298.88 Million by 2033 |
Foamed Plastics Market – Challenge
Stringent regulations
Tough rules about the environment and the health risks of using toluene diisocyanate (TDI) and methylene diphenyl diisocyanate (MDI) as raw materials to make polyurethane foams are the main things that are stopping the foam plastics market from growing.
The Toxic Substances and Disease Registry Agency states that the frequency and duration of exposure determine how TDI and MDI affect a consumer’s health. Some individuals exposed to TDI and MDI have displayed wheezing and shortness of breath, which are signs of asthma and related disorders. These health issues are expected to act as a deterrent to the growth of the foam plastics market during the forecast period.
Foamed Plastics Market: Segmentation Analysis
By Type:
The polyurethane segment is expected to dominate the market. Polyurethane foams are the most commonly used type of polymer foam, accounting for more than half of all plastic foam use worldwide. These favorable properties can make these foams suitable for various applications. They may be thermosetting, tight and heavy thermoplastic, or flexible and soft.
Polyurethane foam is used in several industries, such as automobiles, furniture and bedding manufacturing, and insulation. With their varied chemical characteristics and low cost, polyurethane foams have a wide range of applications.
Besides, the polyolefin segment is growing at a rapid rate. The segment’s expansion is due to the rising demand for lightweight materials. The automotive sector increasingly uses foamed polyolefins for lightweight components to improve fuel efficiency and comply with environmental laws.
By Application:
The building and construction segment captures a prominent market share in the foamed plastics industry. Foam is used in this sector for sealing and thermal insulation. Due to its flexibility and lack of fibrous properties, it is an excellent thermal and acoustic insulator.
A wide range of rigid polyurethane foam densities may be created, making it suitable for residential walls and roofing. It is often used in cold locations with frequent temperature fluctuations, and it aids in keeping warmth during periods of intense cold. This foam reduces building noise levels by isolating sound in the original rooms.
Besides, the automotive segment shows rapid expansion. The growing government regulation regarding vehicle lightweighting is one of the significant factors for market growth.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 55.9 Billion |
| Projected Market Size in 2033 | USD 87.9 Billion |
| Market Size in 2023 | USD 54.5 Billion |
| CAGR Growth Rate | 4.9% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your research requirements. |
Foamed Plastics Market: Regional Analysis
North America dominates the foamed plastics market. The region’s growth is attributed to the presence of major players and the growing investment in advanced technology. Furthermore, the increasing construction industry influences market growth. Also, the rising adoption of EVs is a prominent factor driving the industry expansion over the projected period.
However, the Asia Pacific is growing significantly in the global foamed plastics industry owing to the increasing investment in infrastructure and the growing urbanization and demand for consumer electronics, particularly in India and China.
List of the prominent players in the Foamed Plastics Market:
- Alchemie Ltd.
- BASF SE
- Covestro
- Hexion Inc.
- Huntsman International LLC
- Repsol
- SABIC
- Dow Chemical Company
- Total SA.
- Wanhua Chemical Group Co. Ltd.
- Others
The Foamed Plastics Market is segmented as follows:
By Type
- Polyurethane
- Polystyrene
- Polyolefin
- Phenolic
- Others
By Application
- Building & Construction
- Packaging
- Automotive
- Furniture & Bedding
- Footwear, Sports, & Recreational
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Foamed Plastics Market (2024 – 2033) (USD Billion)
- 2.2 Global Foamed Plastics Market: snapshot
- Chapter 3. Global Foamed Plastics Market: Industry Analysis
- 3.1 Foamed Plastics Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising demand for bio-based materials
- 3.2.2 Growing focus towards sustainability
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Application
- Chapter 4. Global Foamed Plastics Market: Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Foamed Plastics Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Foamed Plastics Market: Type Analysis
- 5.1 Global Foamed Plastics Market Overview: By Type
- 5.1.1 Global Foamed Plastics Market Share, By Type, 2023 and 2033
- 5.2 Polyurethane
- 5.2.1 Global Foamed Plastics Market by Polyurethane, 2024 – 2033 (USD Billion)
- 5.3 Polystyrene
- 5.3.1 Global Foamed Plastics Market by Polystyrene, 2024 – 2033 (USD Billion)
- 5.4 Polyolefin
- 5.4.1 Global Foamed Plastics Market by Polyolefin, 2024 – 2033 (USD Billion)
- 5.5 Phenolic
- 5.5.1 Global Foamed Plastics Market by Phenolic, 2024 – 2033 (USD Billion)
- 5.6 Others
- 5.6.1 Global Foamed Plastics Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Foamed Plastics Market Overview: By Type
- Chapter 6. Global Foamed Plastics Market: Application Analysis
- 6.1 Global Foamed Plastics Market Overview: By Application
- 6.1.1 Global Foamed Plastics Market Share, By Application, 2023 and 2033
- 6.2 Building & Construction
- 6.2.1 Global Foamed Plastics Market by Building & Construction, 2024 – 2033 (USD Billion)
- 6.3 Packaging
- 6.3.1 Global Foamed Plastics Market by Packaging, 2024 – 2033 (USD Billion)
- 6.4 Automotive
- 6.4.1 Global Foamed Plastics Market by Automotive, 2024 – 2033 (USD Billion)
- 6.5 Furniture & Bedding
- 6.5.1 Global Foamed Plastics Market by Furniture & Bedding, 2024 – 2033 (USD Billion)
- 6.6 Footwear, Sports, & Recreational
- 6.6.1 Global Foamed Plastics Market by Footwear, Sports, & Recreational, 2024 – 2033 (USD Billion)
- 6.7 Others
- 6.7.1 Global Foamed Plastics Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Foamed Plastics Market Overview: By Application
- Chapter 7. Foamed Plastics Market: Regional Analysis
- 7.1 Global Foamed Plastics Market Regional Overview
- 7.2 Global Foamed Plastics Market Share, by Region, 2023 & 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Foamed Plastics Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.4 North America Foamed Plastics Market, by Type, 2024 – 2033
- 7.4.1 North America Foamed Plastics Market, by Type, 2024 – 2033 (USD Billion)
- 7.5 North America Foamed Plastics Market, by Application, 2024 – 2033
- 7.5.1 North America Foamed Plastics Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Foamed Plastics Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Foamed Plastics Market, by Type, 2024 – 2033
- 7.7.1 Europe Foamed Plastics Market, by Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Foamed Plastics Market, by Application, 2024 – 2033
- 7.8.1 Europe Foamed Plastics Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Foamed Plastics Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Foamed Plastics Market, by Type, 2024 – 2033
- 7.10.1 Asia Pacific Foamed Plastics Market, by Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Foamed Plastics Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Foamed Plastics Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Foamed Plastics Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Foamed Plastics Market, by Type, 2024 – 2033
- 7.13.1 Latin America Foamed Plastics Market, by Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Foamed Plastics Market, by Application, 2024 – 2033
- 7.14.1 Latin America Foamed Plastics Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Foamed Plastics Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Foamed Plastics Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Foamed Plastics Market, by Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Foamed Plastics Market, by Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Foamed Plastics Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Foamed Plastics Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 Alchemie Ltd.
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 BASF SE
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Covestro
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Hexion Inc.
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Huntsman International LLC
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Repsol
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 SABIC
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Dow Chemical Company
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Total SA.
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Wanhua Chemical Group Co. Ltd.
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Others.
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.1 Alchemie Ltd.
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Alchemie Ltd.
- BASF SE
- Covestro
- Hexion Inc.
- Huntsman International LLC
- Repsol
- SABIC
- Dow Chemical Company
- Total SA.
- Wanhua Chemical Group Co. Ltd.
- Others
FAQs
The key factors driving the Market are Rising demand for bio-based materials, Growing focus towards sustainability.
The “Building & Construction” had the largest share in the global market for Foamed Plastics.
The “Polyurethane” category dominated the market in 2023.
The key players in the market are Alchemie Ltd., BASF SE, Covestro, Hexion Inc., Huntsman International LLC, Repsol, SABIC, Dow Chemical Company, Total SA., Wanhua Chemical Group Co. Ltd., Others.
“North America” had the largest share in the Foamed Plastics Market.
The global market is projected to grow at a CAGR of 4.9% during the forecast period, 2024-2033.
The Foamed Plastics Market size was valued at USD 55.9 Billion in 2024.