Molded Foam Market Poised for Robust Growth, Projected to Reach US$ 22.69 Billion by 2030 with a CAGR of 6.7%: New Report

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 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.

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Based on type, the molded foam market is segmented into closed cell foam, high resilience foam, integral skins foam, memory foam, and others. The closed cell foam segment held the largest market share in 2022. Closed-cell foam is a versatile material used in various industries due to its unique properties. It consists of tiny, sealed air bubbles within its structure that create a closed cell structure. Closed cell foam is non-water-resistant, floatable, and has excellent tensile strength. Based on form, the molded foam market is segmented into rigid foam and flexible foam. The flexible foam segment held a larger market share in 2022. Flexible foam provides a plush and cushioned feel, making it a popular choice for upholstered furniture, seating cushions, and bedding products such as pillows and mattress toppers. In addition, flexible foam offers excellent shock absorption and impact resistance. This property is valuable in applications where safety and protection are essential, such as automotive seating and helmet liners. Based on material, the molded foam market is segmented into expanded polystyrene, polyurethane foam, expanded polyethylene, expanded polypropylene, and others. The molded foam market share of the polyurethane foam segment was notable in 2022. Polyurethane is a closed-cell foam commonly used for molded foam products due to its versatility, durability, and cost-effectiveness. Polyurethane foam is available in various densities, allowing customization to meet specific comfort and support requirements. This makes it ideal for applications such as mattresses, upholstery, seating cushions, and pillows, where user comfort is a priority. Based on application, the molded foam market is segmented into seating and furniture, automotive interior, bedding and mattresses, footwear, and others. The molded foam market share of the bedding and mattresses segment was notable in 2022. Molded foam plays a crucial role in bedding and mattresses, enhancing comfort, support, and overall sleep quality. Molded foam mattresses offer excellent support and pressure relief as they contour the body's shape. This ensures that users experience comfortable and restful sleep by minimizing pressure points and promoting proper spinal alignment.

The global molded foam market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Europe held the largest revenue share of the global molded foam market in 2022. Major factor driving the molded foam market in Asia Pacific is the expanding automotive industry.

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 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.

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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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