Global Foamed Plastics Market 2024 to 2033

Foamed Plastics Market Size, Trends and Insights By Type (Polyurethane, Polystyrene, Polyolefin, Phenolic, Others), By Application (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports, & Recreational, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Foamed Plastics Market is expected to record a CAGR of 4.9% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 55.9 Billion. By 2033, the valuation is anticipated to reach USD 87.9 Billion.

Foamed plastic is a material made by injecting gas bubbles into the polymer matrix. This process occurs during the manufacture of plastics or the addition of foaming agents. This polymer can be rigid or flexible depending on the formulation and manufacturing techniques. Foamed plastics are used in various industries due to their lightweight nature, insulating properties, and adaptability.

Several factors, including the expanding construction sector, government infrastructure spending in developing nations, rising demand from the automotive sector, technological advancements, rising consumer good usage, and the expansion of the electronics sector, are driving the foamed plastics market. However, environmental concerns and volatility in raw material prices are the major restraining factors for the industry’s growth.

• According to secondary analysis, India’s infrastructure investment will double to Rs 143 lakh crore during fiscal years 2024 and 2030, compared to 2017-2023.

• According to Invest India’s estimate, the construction sector in India will generate USD 1.4 trillion by 2025.

• According to the Society of Indian Automobile Manufacturers, overall passenger vehicle sales in India increased from 30,69,523 to 38,90,114 units. Sales of passenger cars also increased from 14,67,039 to 17,47,376, Utility vehicles from 14,89,219 to 20,03,718, and Vans from 1,13,265 to 1,39,020 units in FY-2022-23 compared to the previous year.

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