At 5.9% CAGR, South & Central America Molded Foam Market is Projected to be Worth US$ 1,439.57 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the South & Central America molded foam market was valued at US$ 912.58 million in 2022 and is expected to reach US$ 1,439.57 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Focus on developing sustainable solutions and robust growth of automotive industry are among the critical factors attributed to the South & Central America molded foam market expansion.

The escalating demand for sustainable and eco-friendly materials is propelling a notable shift towards the adoption of biobased and recycled molded materials. This trend reflects a growing global consciousness regarding environmental preservation and resource conservation. Manufacturers and consumers alike are increasingly prioritizing materials that minimize carbon footprint and reduce reliance on finite resources. Biobased molded foam materials, derived from renewable sources like plant-based polymers, offer a compelling alternative to traditional, petroleum-based foams, significantly reducing environmental impact throughout their lifecycle. Additionally, the upsurge in recycled molded foam materials addresses the pressing need for wastage reduction and circular economy practices by repurposing post-consumer or post-industrial foam waste into new products. The product has excellent biodegradability in a wide range of environments. As sustainability continues to drive purchasing decisions across industries, the adoption of biobased and recycled molded foam materials is poised to witness further acceleration, reshaping the landscape of material sourcing and manufacturing processes.

On the contrary, harmful impact of raw materials on environment hamper the growth of South & Central America molded foam market.

Based on type, the South & Central America 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 32.8% share of the South & Central America molded foam market in 2022, amassing US$ 299.73 million. It is projected to garner US$ 504.40 million by 2030 to expand at 6.7% CAGR during 2022-2030.

In terms of form, the South & Central America molded foam market is bifurcated into rigid foam and flexible foam. The flexible foam segment held 57.6% share of the South & Central America molded foam market in 2022, amassing US$ 525.26 million. It is projected to garner US$ 837.96 million by 2030 to expand at 6.0% CAGR during 2022-2030.

By material, the South & Central America molded foam market is segmented into expanded polystyrene, polyurethane foam, expanded polyethylene, expanded polypropylene, and others. The polyurethane foam segment held 45.8% share of South & Central America molded foam market in 2022, amassing US$ 418.32 million. It is projected to garner US$ 639.50 million by 2030 to expand at 5.4% CAGR during 2022-2030.

By application, the South & Central America molded foam market is segmented into seating and furniture, automotive interior, bedding and mattresses, footwear, and others. The bedding and mattresses segment held 36.1% share of South & Central America molded foam market in 2022, amassing US$ 329.20 million. It is projected to garner US$ 553.67 million by 2030 to expand at 6.7% CAGR during 2022-2030.

Based on country, the South & Central America molded foam market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 51.8% share of South & Central America molded foam market in 2022, amassing US$ 472.37 million. It is projected to garner US$ 763.15 million by 2030 to expand at 6.2% CAGR during 2022-2030.

Key players operating in the South & Central America molded foam market are Covestro AG, Dow, Hennecke GmbH, and Woodbridge, among others.

• In April 2022, The Woodbridge Group developed TrimVisible BIO. The new product, TrimVisible BIO, enabled a cradle-to-gate reduction in carbon dioxide footprint for seating foam. This technology ultimately contributed to the reduction in CO2 footprint for the lifetime of the vehicle.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com