Bio-Based Foam Market worth $229 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 21, 2022 /PRNewswire/ -- The "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." Major factors driving the growth of the bio-based foam include increasing adoption of bio-based material by various end-use industry.

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By raw material, the sugarcane-based segment accounted for the highest share of bio-based foam market during 2022 to 2027.

By raw material, the sugarcane-based segment accounted highest share of bio-based foam market. A Sugarcane-based foam is widely used in various end-use applications. Many leading footwear manufacturing companies are increasing the use of sugarcane-based foam in their shoes' sole manufacturing.

By type, the flexible segment accounted for the highest share of bio-based foam market during 2022 to 2027.

By type, the flexible segment accounted highest share of bio-based foam market. Flexible bio-based material finds application majorly in automotive, furniture, and bedding sectors. Flexible bio-based foam meets the engineering requirements of commercial-scale manufacturing processes including packaging and mattresses.

By end-use industry, the automotive segment accounted for the highest share of bio-based foam market during 2022 to 2027.

By end-use industry, the automotive segment accounted for the highest share of bio-based foam market. The automotive is one of the fastest growing industry which has lead to increase the demand of various raw material including bio-based foam. Many leading automotive manufacturer are started using bio-based foam for cushoning and insulation application in car interiors.

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Europe is the largest and fastest-growing region in the bio-based foam market.

Europe accounted as the largest market for bio-based foam and is projected to show fastest growth during the forecast period. The market of bio-based are driven by the growing manufacturing industries in the region. Many countries in Europe are becoming hub of manufacturing of various global industries.

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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