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The Worldwide Bio-Based Foam Industry is Projected to Reach $229 Million by 2027: Easy Degradability of Bio-based Foams of End-of-Life Vehicles Drives Growth
Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) -- 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.
The global market for bio-based foam is driven by major factors such as growth in end-use industry, changes in government regulations and increasing adoption of bio-based material in various manufacturing industries.
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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Bio-based Foam Market
4.2 Bio-based Foam Market, by Region
4.3 Europe Bio-based Foam Market, by Country and End-use Industry (2021)
4.4 Bio-based Foam Market: by Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Sustainability Goals of Product Manufacturers Persuading Packaging Companies to Use Eco-Friendly Products
5.2.1.2 Easy Degradability of Bio-based Foams of End-Of-Life Vehicles
5.2.2 Restraints
5.2.2.1 Availability of Low-Cost Alternatives
5.2.2.2 Inconsistency and Degradation of Performance Over Time
5.2.3 Opportunities
5.2.3.1 Fmcg Companies Developing Novel Products from Bio-based Foams
5.2.3.2 Development of Novel Bio-based Foam for Aeronautical and Marine Sectors
5.2.4 Challenges
5.2.4.1 Absence of Standard Testing Procedures and Transitioning Regulatory Landscape
5.2.4.2 Low Degradability of Certain Bio-based Foams
5.3 Porter's Five Forces Analysis
6 Industry Trends
6.1 Patent Analysis
6.1.1 Methodology
6.1.2 Patent Publication Trends
6.1.3 Insights
6.1.4 Jurisdiction Analysis
6.1.5 Top Companies/Applicants
6.1.5.1 List of Major Patents
6.2 Key Conferences & Events, 2022-2023
6.3 Technology Analysis
6.3.1 Bio-based Foam Technology That Shows 90% Degradation
6.3.2 Algae-based Pu Foam Technology
6.4 Case Study Analysis
6.4.1 Bio-based Pu Foam from Food Waste-Derived Lipid
6.4.1.1 Objective
6.4.1.2 Solution Statement
6.4.2 Soy-based Foam for Automotive Industry
6.4.2.1 Objective
6.4.2.2 Solution Statement
6.5 Regulatory Landscape
6.5.1 Standards Related to Bio-based Foam
6.5.2 Global Regulations
6.6 Bio-based Foam Market: Ecosystem
6.7 Value Chain Analysis
6.8 Impact of Trends/Disruptions
7 Bio-based Foam Market, by Raw Material
7.1 Introduction
7.2 Soy-based
7.2.1 Soy-based Foams Preferred in Many Applications
7.3 Corn-based
7.3.1 Corn-based Foams Offer Easy Disposability
7.4 Sugarcane-based
7.4.1 Sugarcane-based Foams Used as Alternative to Eva Foam
7.5 Others
8 Bio-based Foam Market, by Type
8.1 Introduction
8.2 Rigid
8.2.1 Rigid Bio-Foam Widely Used in Building & Construction Application
8.3 Flexible
8.3.1 Flexible Bio-Foam Witnessing Significant Demand in Various Applications
9 Bio-based Foam Market, by End-use Industry
9.1 Introduction
9.2 Building & Construction
9.2.1 Demand for Bio-based Foams Increasing in Building & Construction Industry
9.3 Packaging
9.3.1 Many Industries Shifting to Bio-based Packaging
9.4 Automotive
9.4.1 Automotive Industry to be Largest Consumer of Bio-based Foams
9.5 Furniture & Bedding
9.5.1 Flexible Bio-based Foams Used in Furniture & Bedding
9.6 Footwear, Sports & Recreational
9.6.1 Leading Sports Manufacturers Increasingly Adopting Bio-based Foams
9.7 Others
10 Bio-based Foam Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Strategies Adopted by Key Players
11.3 Market Share Analysis
11.3.1 Ranking of Key Market Players, 2021
11.3.2 BASF SE
11.3.3 Huntsman Corporation
11.3.4 Cargill, Incorporated
11.3.5 Braskem
11.3.6 Stora Enso
11.4 Revenue Analysis of Top Three Players
11.5 Competitive Benchmarking
11.5.1 Company Overall Footprint
11.5.2 Company Product Type Footprint
11.5.3 Company End-use Industry Footprint
11.5.4 Company Region Footprint
11.6 Company Evaluation Quadrant (Tier 1)
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Participants
11.6.4 Pervasive Players
11.7 Start-Up/SMEs (Small and Medium-Sized Enterprises) Evaluation Quadrant
11.7.1 Progressive Companies
11.7.2 Responsive Companies
11.7.3 Starting Blocks
11.7.4 Dynamic Companies
11.8 Competitive Situation and Trends
11.8.1 Deals
11.8.2 Other Developments
12 Company Profiles
12.1 Huntsman Corporation
12.2 BASF SE
12.3 Woodbridge Foam Corporation
12.4 Sealed Air Corporation
12.5 Cargill, Incorporated
12.6 Inoac Corporation
12.7 Bewi Group
12.8 Trocellen GmbH
12.9 Rampf Group
12.10 Mcpu Polymer Engineering LLC
12.11 Sinomax Usa
12.12 Nam Liong Global Corporation
12.13 Amerisleep
12.14 Oskar Pahlke GmbH
12.15 Hwa Ching Industry
12.16 Nomaco
12.17 Stora Enso
12.18 Eco Global Manufacturing
12.19 Kodiak Industries
12.20 Ktm Industries
12.21 Algenesis Materials
12.22 Domfoam
12.23 Braskem
12.24 Eva Glory
12.25 Foamindo Industri Uretan
12.26 Interplasp
12.27 Biopolymer Network
12.28 Ipl Packaging
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ym3x64
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