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Molded Foam Market Size
The global molded foam market was valued at USD 16.9 billion in 2024 and is estimated to grow at a CAGR of over 4.2% from 2025 to 2034.
Molded foams, such as polyurethane, expanded polystyrene, and other variants, are witnessing heightened demand due to their versatility in applications ranging from automotive components and furniture to packaging and construction. As industries prioritize energy efficiency, safety, and sustainability, molded foams serve as an attractive solution, offering insulation properties, impact resistance, and design flexibility. Additionally, the expanding automotive and construction sectors, coupled with the rising trend of e-commerce packaging, further fuel the demand for molded foams, making them a pivotal element in modern manufacturing processes and driving the overall growth of the market.
The industry heavily relies on petrochemical-based materials, and fluctuations in crude oil prices can impact the overall production costs of molded foams. Sudden price hikes in raw materials can pose challenges for manufacturers, affecting profit margins and potentially hindering market growth. Adapting to and mitigating the impact of raw material price fluctuations becomes crucial for sustained success in the molded foam industry.
What is the market share of closed cell foam in the molded foam industry?
Closed cell foam accounted for a market value of USD 5.3 billion in 2024, driven by its superior insulation properties and applications in marine and construction industries.
How big is the molded foam market?
The global market size for molded foam was valued at USD 16.9 billion in 2024 and is projected to reach USD 25.4 billion by 2034, driven by a CAGR of over 4.2% during the forecast period, supported by the surge in e-commerce and packaging demand.
Who are the major players in the molded foam industry?
Major players in the industry include Armacell International, Asahi Kasei Corporation, BASF, Carpenter Technology Corporation, Covestro, Dow, Knauf Industries, Recticel, Sumitomo Chemical, and Primex.
How much is the North America molded foam market worth?
The North America market generated USD 6.2 billion in 2024, with the U.S. contributing USD 4.3 billion, driven by a robust construction sector and advancements in the automotive industry.