Biodegradable foam refers to a type of foam made from materials that decomposes after disposal without harming the environment. It is used in applications such as packaging, bedding & furniture, and medical devices. Biodegradable foams reduce reliance on plastic foam made from petroleum and help reduce carbon footprint. Packaging foams are widely used for protective packaging of electronics, fragile goods, fresh food, and medical devices during transit. Bedding & furniture foams are used in mattresses, pillows, cushions, and furniture upholstery.
The global Biodegradable Foam Market is estimated to be valued at US$ 906.1 Mn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Plastics take hundreds to thousands of years to degrade and raise issues with landfill space and release of greenhouse gases. Switching to biodegradable foams made from renewable plant-based materials is expected to reduce carbon footprint significantly. Moreover, ban on single-use plastics by many countries is encouraging manufacturers to adopt biodegradable foam for packaging applications. Availability of biodegradable polymers such as polylactic acid (PLA), starch and cellulose that can be molded into foams also support market growth. Positive outlook in end-use industries such as packaging, transportation, and bedding & furniture further promotes demand for eco-friendly biodegradable foams over the forecast period.
Segment Analysis
The biodegradable foam market is dominated by polyurethane foam segment. Polyurethane foam is lightweight, tear-resistant and elastic in nature, which makes them ideal for use in applications such as packaging, transportation, bedding and furniture. It has high strength to weight ratio and provides long-lasting support due to its memory foam properties.
PEST Analysis
Political: Stringent government regulations against use of petroleum-based foams in packaging will positively influence market growth. For instance, EU has banned certain single-use plastic products.
Economic: Rising disposable income and growing e-commerce sector are increasing demand for effective and sustainable packaging solutions.
Social: Increasing consumer awareness regarding environment protection is promoting use of biodegradable and eco-friendly products.
Technological: Advancements in foam production technology allow manufacturers to develop biodegradable foams using green chemicals that have properties comparable to petroleum-based foams.
Key Takeaways
The Global Biodegradable Foam Market Size is expected to witness high growth. The global biodegradable foam market is estimated to be valued at US$ 906.1 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030.
Regional analysis The Asia Pacific region dominates the global market and is expected to maintain its leading position during the forecast period. This can be ascribed to rising industrial and construction activities along with growing population in countries such as China and India.
Key players operating in the biodegradable foam market are BASF SE, Arkema SA, Dow Chemical Company, Synbra Technology BV, and Sekisui Alveo AG. Key players The key players are focusing on new product launches, partnerships, and capacity expansions. For instance, in 2021, BASF launched bio-based and biodegradable polyurethane foams under the Elastollan brand for padding, bedding and novel applications.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it