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| Global Biodegradable Foam Market Size |
Biodegradable foam finds extensive applications in food packaging,
construction, insulation, furniture and automotive industries as it provides
cushioning and insulation properties. Being environment-friendly, biodegradable
foams are gaining popularity as an alternative to conventional petroleum-based
foams. It is manufactured using raw materials like polylactic acid, starch,
polybutylene adipate terephthalate and polybutylene succinate which can
decompose without harming the environment.
The Global Biodegradable Foam Market is estimated to
be valued at US$ 1043.83 Billion in
2024 and is expected to exhibit a CAGR of 21.% over the forecast period 2024 to
2030.
Key Takeaways
Key players operating in the biodegradable foam are BASF SE, Arkema SA, Dow
Chemical Company, Synbra Technology BV, and Sekisui Alveo AG. These companies
are involved in new product developments and adopting sustainable manufacturing
technologies to cater to the growing demand for biodegradable materials.
The market is witnessing high demand from the packaging sector as manufacturers
are focusing on developing packaging solutions from biodegradable materials to
reduce plastic waste. Many regulations prohibiting single-use plastic are
further boosting the usage of biodegradable foams in food packaging.
Advancements in materials science and polymer technology have enabled
manufacturers to engineer biodegradable foams with improved mechanical and
barrier properties. Development of bio-based foams with properties comparable
to petroleum-based ones is opening up new application areas for biodegradable
foams.
Market Trends
The trend of lightweighting in the automotive industry is driving the use of
biodegradable foams for interior trims, seat cushions, and headrests. Their low
density provides weight savings and reduces fuel consumption.
Bio-based biodegradable foams are gaining significant traction due to growing
demand for genuinely sustainable materials. Companies are collaborating with
agriculture firms for sourcing sustainable bio-based raw materials and
establishing closed-loop production systems.
Market Opportunities
Growing use of packaging for food delivery during the pandemic has created
opportunities for biodegradable foam to replace conventional plastic packaging.
Rise of e-commerce has also increased the scope for biodegradable foam
applications in protective packaging, cushioning, and insulation of shipped
products. Compostable foam packaging helps online retailers meet sustainability
goals.
Impact of COVID-19 on Biodegradable Foam Market Growth
The COVID-19 pandemic severely impacted the Global
Biodegradable Foam Market Size t in 2020. Nations imposed nationwide
lockdowns which led to the complete shutdown of production facilities and
disrupted supply chains. This caused a steep decline in demand from major
end-use industries such as automotive, construction, and packaging. The
automotive industry was hit hardest as vehicle sales plummeted during the early
phase of the pandemic. Projects in the construction industry were either
delayed or cancelled amid pandemic-led uncertainties.
However, with mass vaccination drives and relaxed lockdown norms, the market is
gradually recovering. Demand from the packaging industry is surging as more
people adopt the e-commerce channel for shopping during the pandemic. The
healthcare sector's requirement for biodegradable foam is also increasing for
medical packaging of masks, sanitizers, and other protective equipment.
Going forward, green building initiatives are expected to bolster demand.
Rising environmental awareness and regulations against single-use plastic
packaging will further support market growth. Innovation in biodegradable foam
formulations to suit the evolving needs of various industries can open new
revenue streams for manufacturers. While supply chain disruptions and price
volatility remain near-term challenges, the long-term outlook for biodegradable
foam appears positive given the industry's shift toward sustainability.
Europe Dominates Biodegradable Foam Market in Terms of Value
Europe currently dominates the biodegradable foam market and holds the highest
market share globally, in terms of value. Stringent environmental regulations
pertaining to single-use plastics and degradable packaging have boosted the
regional market. Countries such as Germany, Italy, France, and the UK are the
major revenue contributors. Advanced production facilities coupled with the
presence of leading biodegradable foam manufacturers have consolidated Europe's
leadership position.
The Asia Pacific region has emerged as the fastest growing market for
biodegradable foams in recent years. Rapid urbanization, industrial
development, and rising disposable income in densely populated nations such as
India and China are driving demand from various end-use sectors. Favorable
government policies promoting sustainable materials further attract foreign
investments and new product launches. The Asia Pacific market is expected to
witness phenomenal growth over the forecast period.
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