The United States is poised to experience a surge in demand for foams, with an expected Compound Annual Growth Rate (CAGR) of 5.3% through the year 2034. The United States allocates a disproportionate amount of its budget towards healthcare, with expenditures totaling twice as much as those of other countries. Simultaneously, military spending is recognized as the second-largest portion of the government’s budget in the United States.<\/h2>\n
NEWARK, Del, Feb. 12, 2024 (GLOBE NEWSWIRE) — The\u00a0foam\u00a0market<\/a> is poised for significant growth, with its size expected to increase from US$ 109.6 billion<\/strong> in 2024 to US$ 179 billion<\/strong> by 2034. Over the next decade, a moderate 5.0%<\/strong> CAGR in the demand for foams is projected to drive the expansion, which had seen a CAGR of 6.0%<\/strong> between 2019 and 2023.<\/p>\n Increased demand from the automotive industry is a significant driver. Automakers utilize foam in various applications, such as seating, insulation, and soundproofing. Its lightweight nature and ability to absorb vibrations enhance comfort and reduce noise levels within vehicles.<\/p>\n As online shopping continues to rise, so does the demand for foam packaging solutions. With the growth of eCommerce, foam provides cushioning and protection for fragile goods during transit. This helps reduce the risk of damage and enhances the overall customer experience.<\/p>\n Get an Exclusive Sample Copy of the Report:<\/strong> https:\/\/www.futuremarketinsights.com\/reports\/sample\/rep-gb-18969<\/a><\/p>\n The expanding construction sector, particularly in emerging economies, is driving the growth of the insulation foam market. Foam materials are widely employed in insulation, roofing, and sealing applications. They offer excellent thermal efficiency and moisture resistance. Additionally, their ease of installation contributes to energy savings and building durability.<\/p>\n The rising awareness of environmental sustainability is fueling the demand for bio-based and recyclable foams. Consumers and businesses are prioritizing eco-friendly materials. This trend creates opportunities for foam manufacturers to innovate and offer greener alternatives.<\/p>\n Key Takeaways from the Foam Market<\/strong><\/p>\n \u201cPolyurethane foam is on the brink of a transformation with a third-generation blowing agent, boasting low thermal conductivity and resilience to chemicals. The rise of functionally graded polymer foams is revolutionizing the landscape by enhancing energy absorption and optimizing material usage for specific applications. Biodegradable foams are sparking interest across academia and industry, promising eco-friendly solutions. The future of foam lies in these advancements, opening new avenues for market players<\/em>\u201d- Says <\/strong>Ismail Sutaria<\/strong><\/a>, Principal Consultant of Packaging and Materials at Future Market Insights.<\/strong><\/p>\n Buy this Exclusive Report: <\/strong>https:\/\/www.futuremarketinsights.com\/checkout\/18969<\/a><\/p>\n Key Players\u2019 Strategies for Success in the Foam Market<\/strong><\/p>\n Here are some key strategies that players in the foam industry employ for success:<\/p>\n Recent Developments in the Foam Market<\/strong><\/p>\n Request Report Methodology: <\/strong>https:\/\/www.futuremarketinsights.com\/request-report-methodology\/rep-gb-18969<\/a><\/p>\n Market Segmentation<\/strong><\/p>\n By Resin Type:<\/strong><\/p>\n By Type:<\/strong><\/p>\n By End-use Industry:<\/strong><\/p>\n By Region:<\/strong><\/p>\n Authored By<\/strong><\/p>\n Ismail Sutaria<\/a>\u00a0(Principal Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail\u2019s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.\u00a0<\/p>\n Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor\u2019s Degree in Mathematics.\u00a0<\/p>\n Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.<\/p>\n Explore Related Reports of Packaging: <\/strong><\/p>\n The global foam pouch market<\/a> is poised for substantial growth, with a projected valuation of US$ 577.92 million in 2023. This upward trajectory is anticipated to continue, as the market is forecasted to expand at a steady Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2033.<\/p>\n The anti-static foam pouch market<\/a> is poised for significant growth, expected to flourish at a Compound Annual Growth Rate (CAGR) of 4.9%. By the end of the assessment period spanning from 2022 to 2032, the market is projected to reach a valuation of US$ 890 million.<\/p>\n The global packaging foam market<\/a> is poised for significant growth, with an anticipated valuation of US$ 6.9 billion in 2023. This optimistic outlook is fueled by the rising demand for sustainable packaging solutions, which broadens the market’s scope and potential.<\/p>\n According to research conducted by Future Market Insights, the global foam packaging inserts market<\/a> is projected to reach US$ 514.1 million in 2023. Over the forecast period, the market is expected to grow steadily at a Compound Annual Growth Rate (CAGR) of 3.6%.<\/p>\n The sealing and strapping packaging tape market<\/a> is anticipated to reach a valuation of US$ 23.2 billion in 2024. This sector is projected to experience a steady increase in demand, with a Compound Annual Growth Rate (CAGR) of 4.9% expected from 2024 to 2034.<\/p>\n The sustainable pharmaceutical packaging market<\/a> is poised for significant growth, with an anticipated valuation of US$ 410 billion by the year 2034. Projections suggest a robust Compound Annual Growth Rate (CAGR) of 15.6% until 2034. As of 2024, the market size stands at US$ 96 billion.<\/p>\n The global stretch film market<\/a> is forecasted to achieve a valuation of US$ 2.8 billion by the year 2024. Over the assessment period, it is anticipated to expand further and attain a value of US$ 4.1 billion by 2034, indicating a Compound Annual Growth Rate (CAGR) of 3.9%.<\/p>\n The sustainable packaging market<\/a> is on track to reach a significant valuation of US$ 285.3 billion by the year 2024. With a projected Compound Annual Growth Rate (CAGR) of 5.8% over the forecast period, demand for sustainable packaging solutions is expected to witness robust growth.<\/p>\n The returnable packaging market<\/a> is poised to achieve a significant valuation of US$ 129.7 billion by the year 2024. Over the forecast period from 2024 to 2034, the market is expected to experience substantial growth, reaching US$ 248.0 billion.<\/p>\n The sustainable plastic packaging market<\/a> is estimated to reach a valuation of US$ 106.4 billion by the year 2024. Over the following decade, from 2024 to 2034, the market is anticipated to progress steadily, registering a moderate Compound Annual Growth Rate (CAGR) of 5.9%.<\/p>\n About Future Market Insights (FMI) <\/strong><\/p>\n Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.<\/p>\n Contact Us:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/p>\n Nandini Singh Sawlani<\/a>\u00a0\u00a0<\/strong><\/p>\n Future Market Insights Inc. \n
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