DUBLIN--(BUSINESS WIRE)--Jan 5, 2023--

The “Bio-Based Foam Market by Raw Material (Corn, Sugarcane, Soy), Type, End-Use Industry (Building & Construction; Packaging; Automotive; Furniture & Bedding; and Footwear, Sports & Recreational), and Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The bio-based foam market is projected to grow from USD 102 million in 2022 to USD 229 million by 2027, at a CAGR of 23.1% from 2022 to 2027.

By raw material, the sugarcane-based segment is estimated to be the fastest-growing segment of bio-based foam market during 2022 to 2027

Based on raw material, the sugarcane-based segment is estimated to be the fastest growing segment during the forecast period. The growth in various end-use industry to lead the growth of this segment. Many leading end-use industries are using sugarcane-based foam in their product manufacturing. Sugarcane is one of the easily available raw materials to various foam manufacturing companies.

The flexible segment in type is projected to register the highest CAGR during the forecast period.

Based on type, the flexible segment is projected to register the highest CAGR during the forecast period. Many leading end-use industries such as packaging have increased the adoption of flexible bio-based foam. The properties of this foam such as light, durable, and mouldable makes it ideal choice for various application ranging from bedding & furniture, automotive interiors, and packaging, among others.

By end-use industry, the automotive segment is estimated to be the fastest-growing segment of bio-based foam market during 2022 to 2027

Based on end-use industry, the automotive segment is estimated to be the fastest-growing segment during the forecast period. Bio-based foams are used by many leading automotive manufacturing companies. The growth of the automotive sector is expected to drive the bio-based foam market.

The bio-based foam market in Europe region is projected to witness the highest CAGR during the forecast period.

Europe region is projected to register the highest CAGR in the bio-based foam market from 2022 to 2027. Europe is one of the key markets for bio-based foam. The region has a high demand for bio-based foam due to government regulations, and rising demand from various end-use industries.

Market Dynamics

Drivers

• Sustainability Goals of Product Manufacturers Persuading Packaging Companies to Use Eco-Friendly Products
• Easy Degradability of Bio-based Foams of End-Of-Life Vehicles

Restraints

• Availability of Low-Cost Alternatives
• Inconsistency and Degradation of Performance Over Time

Opportunities

• FMCG Companies Developing Novel Products from Bio-based Foams
• Development of Novel Bio-based Foam for Aeronautical and Marine Sectors

Challenges

• Absence of Standard Testing Procedures and Transitioning Regulatory Landscape
• Low Degradability of Certain Bio-based Foams

Companies Mentioned

• Algenesis Materials
• Amerisleep
• BASF SE
• Bewi Group
• Biopolymer Network
• Braskem
• Cargill, Incorporated
• Domfoam
• Eco Global Manufacturing
• Eva Glory
• Foamindo Industri Uretan
• Huntsman Corporation
• Hwa Ching Industry
• Inoac Corporation
• Interplasp
• Ipl Packaging
• Kodiak Industries
• Ktm Industries
• Mcpu Polymer Engineering LLC
• Nam Liong Global Corporation
• Nomaco
• Oskar Pahlke GmbH
• Rampf Group
• Sealed Air Corporation
• Sinomax Usa
• Stora Enso
• Trocellen GmbH
• Woodbridge Foam Corporation

For more information about this report visit https://www.researchandmarkets.com/r/x0rj9x

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KEYWORD:

INDUSTRY KEYWORD: PACKAGING CHEMICALS/PLASTICS OTHER MANUFACTURING MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2023.

PUB: 01/05/2023 10:29 AM/DISC: 01/05/2023 10:28 AM

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