(EMAILWIRE.COM, December 19, 2022 ) The global 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% during the forecast period. Growth in various manufacturing sectors, increasing concern on use of petroleum products and changes in regulations to drive the Bio-Based Foam Market in various region.
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Bio-based foam finds applications in various end-use industries including automotive, packaging, building & construction, among others. Many leading companies are using bio-based foam material in their product manufacturing. Bio-based foams are manufactured from soy-based, corn-based, sugarcane-based, and other natural raw material sources. It possesses similar technical features as conventional petroleum-based foam.
In raw material type segment, the sugarcane-based bio-based foam market is projected to be the fastest-growing segment during 2022 to 2027. Sugarcane is easily available in various leading country. The sugarcane-based foam can replace the conventional petroleum-based EVA foam in various applications.
In type segment, flexible bio-based foam market is projected to be the fastest-growing segment during 2022 to 2027. The demand of flexible bio-based foam has seen significant growth in various end-use industry such as mattresses and furniture. Many leading packaging industries are shifting to flexible bio-based foam material.
In end-use industry segment, automotive bio-based foam market, is projected to be the fastest-growing segment during 2022 to 2027. Many leading automotive manufacturing companies are shifting to bio-based foam, it helps to reduce the fatigue and stress associated with driving.
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Europe is projected to be the fastest-growing market for bio-based foam market during the forecast period. Growing various manufacturing industries in the region, majorly automotive, building & construction and packaging, is expected to boost Europes bio-based foam market.
BASF SE (Germany), Huntsman Corporation (US), Cargill, Incorporated (US), Stora Enso (Finland), Braskem (US), Woodbridge Foam Corporation (Canada), Bewi Group (Sweden), INOAC Corporation (Japan), Trocellen GmBh (Germany), Sealed Air Corporation (US), RAMPF Group (Germany), Sinomax USA (US), DomFoam (Canada), Ecoglobal Manufacturing (US), and Nomaco (US) are the key players in bio-based foam market.
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